General Motors and Tengzhong Sign Definitive Agreement for Sale of Hummer

DETROIT and SICHUAN, Oct. 9, 2009 - General Motors (GM) and Sichuan Tengzhong
Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the
companies have entered into a definitive agreement that will allow Tengzhong
to acquire GM's premium all-terrain HUMMER brand.

Under the terms of the definitive agreement, the buyer will acquire the
ownership of the HUMMER brand, trademark and tradenames, as well as specific
IP license rights necessary for the manufacture of HUMMER vehicles. The buyer
will also assume the existing dealer agreements relating to HUMMER's
dealership network.

Tengzhong intends to purchase HUMMER through an investment entity, in which it
will hold an 80 percent stake. Mr. Suolang Duoji, a private entrepreneur with
holdings that include the Hong Kong-listed thenardite producer Lumena, will
hold the remaining 20 percent stake. Financial terms of the agreement were
not disclosed.

The transaction is subject to customary closing conditions and regulatory
approvals and/or review by government agencies in the U.S. and China. The
completion of the definitive agreement enables the companies to continue and
further the overall regulatory review process.

"HUMMER is a strong global niche brand and this agreement signifies another
important milestone in writing the next chapter for both GM and HUMMER," said
Fritz Henderson, GM President and CEO. "For HUMMER, the combination of its
knowledgeable leadership team, vehicle design expertise and the capital
financing of Tengzhong portend a successful future."

Under the agreement, HUMMER would contract vehicle manufacturing, key
components and business services from GM during a defined transitional time
period. For example, GM's Shreveport assembly plant would continue to
contract assemble the H3 and H3T and AM General's Mishawaka assembly plant
will continue to assemble the H2. Both facilities will produce the specified
vehicles until June 2011, with an optional one year extension until June 2012.
The deal is expected to secure more than 3,000 jobs in the U.S. related to
the sale and manufacturing of HUMMER vehicles.

HUMMER will continue to be managed by members of its existing leadership team
including James Taylor, who will remain in his current role as HUMMER's chief
executive officer. Prior to joining HUMMER, Taylor was General Manager of
Cadillac where he oversaw a reinvigoration of the brand, leading key
innovations in design and technology as well as the development of new models.

"We are fortunate to have a partner who understands and recognizes the
importance of continuing investment in HUMMER's heritage as a U.S.-based and
branded company with a view toward capitalizing on global opportunities," said
Taylor. "Backed by a privately owned and well-capitalized company, we are
going to be able to focus on providing customers with more efficient models
that deliver HUMMER's promise of authentic, purpose-built design and
engineering."

Once the transaction is complete, HUMMER will become the first automaker to
offer an alternative fuel powertrain in every model, with the addition of E85
FlexFuel capability in the 2010 H3 and H3T. HUMMER is also in the process of
obtaining emissions certification for a diesel H3 that will be introduced in
markets outside of North America. The brand's future product development will
focus on improving efficiency and performance in current HUMMER models with
alternative fuel powertrains, more efficient gas engines, 6-speed
transmissions and diesel engines.

"This transaction marks an exciting step for both Tengzhong and HUMMER, as we
invest in a business that has significant opportunity in the U.S. and around
the globe," said Yang Yi, Chief Executive Officer of Tengzhong. "We are
excited about some of the initiatives already underway at HUMMER that we
believe our investment will be able to accelerate, particularly related to the
creation of the next generation of more fuel-efficient vehicles to meet not
only future regulations but also customer expectations."

Credit Suisse is acting as exclusive financial advisor and Shearman & Sterling
is acting as international legal counsel to Tengzhong on this transaction.
Citi is acting as financial advisor to GM.

For more information on the agreement go to www.transactioninfo.com/tengzhong.

About GM

About General Motors: General Motors, one of the world's largest automakers,
traces its roots back to 1908. With its global headquarters in Detroit, GM
employs 219,000 people in every major region of the world and does business in
some 140 countries. GM and its strategic partners produce cars and trucks in
34 countries, and sell and service these vehicles through the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall
and Wuling. GM's largest national market is the United States, followed by
China, Brazil, the United Kingdom, Canada, Russia and Germany. GM's OnStar
subsidiary is the industry leader in vehicle safety, security and information
services. General Motors acquired operations from General Motors Corporation
on July 10, 2009, and references to prior periods in this and other press
materials refer to operations of the old General Motors Corporation. More
information on the new General Motors can be found at www.gm.com.

About The Buyer

The investment entity buying Hummer will be jointly owned by Tengzhong and
private entrepreneur Suolang Duoji. Tengzhong will hold 80 percent of the
entity and Mr. Suolang 20 percent.

Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. ("Tengzhong") is one of
China's major privately owned engineering companies. Tengzhong is a
manufacturer of heavy machinery equipment with a presence in special-use
vehicles, road and bridge construction equipment and construction and energy
industry equipment.

Since its establishment, Tengzhong has quickly become a major manufacturer of
machinery and construction components through a series of successful
acquisitions. Tengzhong prides itself on its automated manufacturing
equipment, its processing systems, significant research and development
initiatives and commitment to innovation.

Mr. Suolang Duoji, a private entrepreneur from Sichuan Province has holdings
that include thenardite producer Lumena which was recently listed on the Hong
Kong Stock Exchange.

Contacts

John McDonald
GM Communications
313-667-3714 (o)
313-418-2139 (c)
John.m.mcdonald@gm.com

Nick Richards
HUMMER Communications
313-665-9292 (o)
313-720-9541 (c)
Nick.Richards@gm.com

Brunswick Group Limited - Tengzhong
China and Hong Kong
Tim Payne
+852 3512-5066 (o)
+852 6104-6266 (c)
tpayne@brunswickgroup.com

Zhao Tong
+852 3512-5088 (o)
+852 9011-8258 (c)
tzhao@brunswickgroup.com

U.S.
Christina Stenson
+1 212-333-3810 (o)
+1 646-361-7706 (c)
cstenson@brunswickgroup.com

Sarah Lubman
+1 212-333-3810 (o)
+1 917-442-2870 (c)
slubman@brunswickgroup.com

U.K.
Tim Burt
+44 20-7396-7497 (o)
+44 7834-502-497 (c)
tburt@brunswickgroup.com

NOTE TO EDITORS: For additional media information visit http://media.gm.com.

/PRNewswire -- Oct. 9/

SOURCE General Motors