GM Sets Terms for Sale of Convertible Debentures,

GM Sets Terms for Sale of Convertible Debentures and Bonds 
 
    NEW YORK, June 27 -- General Motors Corp. and General Motors 
Acceptance Corp. (NYSE: GM, GMH) today announced final pricing and related 
terms for the issuance and sale of debt securities to a global syndicate of 
underwriters.  
    The offerings consist of a total of approximately $13.2 billion in GM 
senior notes and convertible debentures and approximately $4.4 billion in 
short-term GMAC senior notes and debt.  Also, GM's underwriters were granted 
an over allotment option for up to $600 million of additional GM convertible 
debentures.  Details of the offerings are as follows: 
 
    General Motors Convertible Debentures: 
    The offerings include $4.0 billion of GM Series C convertible debentures 
with an annual coupon rate of 6.25-percent. The debentures can be converted 
into GM $1-2/3 common stock, subject to the terms of the conversion rights as 
described in the prospectus supplement.  The debentures will have a conversion 
premium of 32.5 percent above Thursday's closing price of GM $1-2/3 common 
stock, equivalent to a conversion price of $47.62.  The convertible debentures 
have been authorized to begin trading on the New York Stock Exchange on 
Friday, June 27, 2003 under the symbol 'GPM.' 
 
    Senior Notes of GM and Affiliates: 
    $1.0 billion of GM 7.125-percent senior notes due July 15, 2013. 
    $1.25 billion of GM 8.25-percent senior notes due July 15, 2023. 
    $3.0 billion of GM 8.375-percent senior notes due July 15, 2033. 
 
    Euro 1.0 billion of GM 7.25-percent senior notes due July 3, 2013. 
    Euro 1.5 billion of GM 8.375-percent senior notes due July 5, 2033. 
 
    Sterling 350 million of GM Nova Scotia 8.375-percent senior notes due  
      December 7, 2015. 
    Sterling 250 million of GM Nova Scotia 8.875-percent senior notes due July  
      10, 2023. 
 
    Senior Notes of GMAC: 
    $1.0 billion of GMAC 4.5-percent senior notes due July 15, 2006. 
    Euro 1.5 billion of GMAC 2-year floating senior notes at euibor plus 175  
      basis points due July 5, 2005. 
    Euro 1.5 billion of GMAC 6.0-percent senior notes due July 3, 2008. 
 
    The offerings will close in July. 
    This press release shall not constitute an offer to sell or the 
solicitation of an offer to buy, nor shall there be any sale of these 
securities in any state in which such offer, solicitation or sale would be 
unlawful prior to the registration or qualification under the securities laws 
of any such state. 
    Certain of the notes offered by GM and its affiliates will be offered 
outside of the United States in transactions not registered under the 
Securities Act, which securities may not be offered or sold in the United 
States absent registration or an applicable exemption from the registration 
requirements.  These materials do not constitute an offer with respect to such 
notes. 
 
SOURCE  General Motors Corporation 
    -0-                             06/27/2003 P 
    /NOTE TO EDITORS:  For additional media information, visit 
http://media.gm.com ./ 
    /CONTACT:  Toni Simonetti, [phone], or Jerry Dubrowski,  
[phone], both of General Motors Corporation/ 
    /Web site:  http://media.gm.com  
                http://www.gm.com / 
    (GM GMH) 
 
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