General Motors statement regarding the resignation of Jerome B. York
      from the GM Board of Directors

      Oct. 6, 2006


      GM has received Mr. York's resignation from the GM Board of Directors,
      effective today.

      Under the direction of the GM Board, we remain focused on our North
      America turnaround, where we are making real progress, progress
      that is well ahead of what some skeptics thought possible. Over the past
      12 months, we have implemented several fundamental moves - in health care,
      manufacturing capacity, hourly attrition, salaried and executive headcount
      and benefits, asset sales and liquidity enhancements, acceleration of key
      product launches, introduction of the industry's best warranty, and
      completely revamping our marketing strategy. These actions are already
      yielding very significant and needed improvement in our results - more
      than $9 billion in yearly cost savings on a running rate basis by the end
      of 2006, and record revenues in the first two quarters of this year, to
      name but two significant ones.

      General Motors is focused today on several other key matters, as well:
      The successful resolution of Delphi and closing the GMAC transaction in
      the fourth quarter; on the acceleration of the GM Europe turnaround; and
      continued profitable growth, especially in Asia and South America.

      With respect to the comments on the Renault-Nissan alliance study in
      Tracinda's 13D filing, it's appropriate to note that the decision to end
      the equity alliance discussions was unanimously approved by the GM Board,
      which consists of 12 directors, 11 of whom are independent of management.
      This decision was made after a comprehensive process that included joint
      synergy evaluation by the management of all three companies and receipt of
      advice on the proposal by two prominent financial advisers. The GM Board
      concluded that the alliance framework required by Renault-Nissan would
      substantially disadvantage GM shareholders. This structure included the
      potential joint projects, which we agreed could yield significant
      aggregate synergies, but which were highly skewed to Renault-Nissan. The
      structure also included the requirement to sell a substantial equity stake
      in GM at no premium, along with preferential rights, which could have had
      the practical effect of foreclosing GM from entering equity alliances with
      other OEMs. Renault-Nissan made it clear they were unwilling to pay any
      premium in any of these areas.

      Through its support and actions, the GM Board has indicated the best way
      to drive value is to continue to remain focused and vigilant in our stated
      turnaround program.






      Forward-looking Statements

      In this statement and in related comments by General Motors management, we
      will use words like "expect," "estimate," "plan," "goal," "project,"
      "priorities," "target," "intend," "may," "would," "could," or "potential,"
      to identify forward-looking statements that represent our current
      judgments about possible future events. We believe these judgments are
      reasonable, but GM's actual results may differ materially due to a variety
      of important factors.

      Among other items, such factors might include: our ability to achieve
      reductions in costs as a result of the turnaround restructuring, health
      care cost reductions and an accelerated attrition program, to realize
      production efficiencies and to implement capital expenditures at levels
      and times planned by management; the pace of product introductions and
      market acceptance of our new products; the effect of a strategic
      relationship on the competitive environment and the effect of competition
      in our markets; changes in relations with unions and employees/retirees
      and the legal interpretations of the agreements with those unions with
      regard to employees/retirees; our ability to complete the timely sale of a
      51-percent controlling interest in GMAC; labor strikes or work stoppages
      at our key suppliers such as Delphi Corporation or financial difficulties
      at those key suppliers; negotiations and bankruptcy court actions with
      respect to our relationship with Delphi; and changes in economic
      conditions, commodity prices, currency exchange rates or political
      stability in the markets in which we operate.

      The most recent annual report on Form 10-K and quarterly reports on Form
      10-Q filed by GM provide information about these factors, which may be
      revised or supplemented in future reports to the SEC on those forms or on
      Form 8-K. We caution investors not to place undue reliance on
      forward-looking statements, and do not undertake any obligation to update
      publicly or otherwise revise any forward-looking statements, whether as a
      result of new information, future events or other such factors that affect
      the subject of these statements, except where expressly required by law.

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      Contact:

      Tony Cervone
      GMNA Communications
      313-665-8829 (office)
      313-421-1341 (mobile)