Fiat and GM Sign Separation

Fiat and GM Sign Separation Agreement 
 
    DETROIT and TURIN, Italy, May 13 -- Fiat S.p.A. (NYSE: FIA) 
and General Motors Corp. (NYSE: GM) today signed in Amsterdam a separation 
agreement which dissolves the purchasing and powertrain joint venture 
companies formed in 2000.  The formal unwinding of Fiat-GM Powertrain and GM-
Fiat Worldwide Purchasing was executed as scheduled by Fiat and GM in an 
earlier agreement. 
    According to the Termination Agreement, signed in New York City on 
February 13th, 2005, GM has completed the payment to Fiat as provided in the 
earlier agreement. 
    Fiat and GM regain ownership of all assets they respectively contributed 
to the powertrain joint venture when it was formed. 
    Fiat and GM have also signed cross-supply agreements for engines and 
transmissions both in Europe and Latin America.  The companies also agreed to 
establish procedures aimed at enhancing the savings on jointly developed 
vehicle architectures. 
    Other ancillary agreements address the joint ownership of intellectual 
property, for example, the joint ownership of 1.9 liter diesel engine 
technology. 
    Fiat and GM each maintain a 50 percent interest in the powertrain 
manufacturing plant in Bielsko-Biala, Poland, which currently produces the 
1.3 diesel engine and under a new joint venture agreement the companies will 
continue to operate the facility as a 50/50 joint venture. 
 
SOURCE  General Motors Corporation 
    -0-                             05/13/2005 P 
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