Regulatory Application

GM Amends Universal Shelf Registration to Include GM Class H Stock,  
                               Other Securities 
 
    NEW YORK, Feb. 28 -- General Motors Corp. (NYSE: GM, GMH) today filed an 
amendment to its universal shelf registration statement with the Securities and 
Exchange Commission to increase the amount of securities covered to $10 billion 
from $5 billion, and to broaden the types of securities covered to include GM 
Class H common stock and other related securities. 
    GM Class H stock is a common stock of General Motors designed to track the 
financial performance of its wholly-owned subsidiary, Hughes Electronics Corp.  
There are approximately 958 million shares of GM Class H common stock 
outstanding, representing an approximate 69.3 percent economic interest in 
Hughes.   
    GM currently retains the remaining 30.7 percent economic interest in 
Hughes, although that is expected to be reduced to about 20 percent when GM 
completes a planned contribution in March of approximately 150 million shares 
of GM Class H stock to certain of its employee benefit plans, as announced 
separately today. 
    These changes to the company's universal shelf registration are intended 
to provide GM additional financial flexibility in connection with its retained 
economic interest in Hughes.  GM is actively evaluating a variety of strategic 
options that could reduce or eliminate GM's retained economic interest in 
Hughes, including:  
 
    -- Transactions that involve strategic investors; and 
    -- Public offerings of GM Class H stock or related securities for cash or 
in exchange for outstanding GM debt obligations. 
 
    GM's amended shelf registration statement does not cover any shares held 
by GM employee benefit plans or other third parties. 
    No decisions have been made regarding which option or combination of 
options, if any, GM may pursue.  Due to the numerous uncertainties involved in 
these matters, there can be no assurance that any offering or transaction will 
be announced or completed, or as to the time at which such an offering or 
transaction might be completed.   
    This release does not constitute an offer of any securities for sale. 
    In this press release and related comments by General Motors management, 
our use of the words 'expect,' 'anticipate,' 'estimate,' 'forecast,' 
'objective,' 'plan,' 'goal' and similar expressions is intended to identify 
forward looking statements.  While these statements represent our current 
judgment on what the future may hold, and we believe these judgments are 
reasonable, actual results may differ materially due to various important 
factors, including material changes in domestic securities markets, changes in 
economic conditions, and changes in laws, regulations and tax rates. 
    Hughes, a world-leading provider of digital television entertainment, 
broadband services, satellite-based private business networks, and global 
video and data broadcasting, is a unit of General Motors Corporation.  The 
earnings of GM attributable to Hughes are used to calculate the earnings 
attributable to the GM Class H stock. 
    General Motors, the world's largest vehicle manufacturer, designs, builds 
and markets cars and trucks worldwide and has been the global automotive sales 
leader since 1931.  GM employs about 350,000 people around the world.  More GM 
information can be found at www.gm.com . 
 
SOURCE  General Motors Corporation 
    -0-                             02/28/2003 P 
    /NOTE TO EDITORS:  For additional media information, visit 
http://media.gm.com ./ 
    /CONTACT:  Jerry Dubrowski, [phone], [e-mail] , or 
Toni Simonetti, [phone], [e-mail] , both of General 
Motors Corporation/ 
    /Web site:  http://media.gm.com / 
    /Web site:  http://www.gm.com /  
    (GM GMH)