November 15, 2006

GM announces plans to raise US$1.5 billion term loan facility

New York, New York – General Motors Corporation has announced its plans to execute a US$1.5 billion senior secured term loan facility, with seven-year maturity. The company says the loan is intended to further enhance its liquidity position and take advantage of robust market conditions. Under the proposed terms, the lenders under the facility will receive a first priority security interest in machinery and equipment and special tools located at GM’s U.S. manufacturing facilities.

J.P. Morgan Securities Inc. and Credit Suisse Securities (USA) LLC are the arrangers of the facility, with JPMorgan Chase Bank, N.A. as the administrative agent. GM anticipates that the execution of the facility will be completed by the end of the year.

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