GM Board of Directors Statement

GM Board of Directors Statement attributable to Kent Kresa, Chairman:

"The General Motors Board of Directors authorized the filing of a chapter 11
case with regret that this path proved necessary despite the best efforts of
so many. Today marks a new beginning for General Motors. A court-supervised
process and transfer of assets will enable a New GM to emerge as a stronger,
healthier, more focused and nimbler company with a determination not to just
survive but to excel. The Board concluded that the proposed transformation
will maximize the value of the enterprise, and the return to the many
stakeholders who have been involved with GM over the years.

We are appreciative of the support from the U.S. Treasury, the President's
Task Force on Autos, the UAW and its members, salaried employees and retirees,
concurring bondholders, and very importantly, the American taxpayers. The
Board is confident that this New GM can operate successfully in the intensely
competitive U.S. market and around the world. The Board stands behind the
people of GM in embracing this unique opportunity to create value and a new
company that will design, engineer, build and market the best cars and trucks
in world."

Media inquiries:
Tom Wilkinson
GM News Relations
313.667.0366 (office)
313.378.6233 (mobile)
tom.wilkinson@gm.com

Renee Rashid-Merem
GM Financial Communications
313.665.3128
renee.rashid-merem@gm.com

For additional media information visit http://media.gm.com .

/PRNewswire -- June 1/

SOURCE General Motors Corporation