GM: Delphi Automotive Systems Corporation IPO priced at $17 per share.

M2 PRESSWIRE-8 February 1999-GM: Delphi Automotive Systems Corporation IPO priced at $17 per share (C)1994-99 M2 COMMUNICATIONS LTD

RDATE:050299

NEW YORK -- Delphi Automotive Systems Corp. (NYSE: DPH) today announced that its initial public offering of 100 million shares of common stock was priced at $17 per share.

The company, with 1998 annual sales of $28.4 billion, would rank among the U.S. top 30 on Fortune's 500 list, and is the world's largest, most diversified automotive products and technology supplier.

While General Motors continues to hold over 80% of Delphi's outstanding common stock, GM has said it intends to distribute the remaining shares to GM shareholders later this year in either a split-off or spin-off, or some combination of both.

Delphi Automotive Systems (NYSE: DPH), with headquarters in Troy, Mich., USA, has more than 200,000 employees and operates 169 wholly owned manufacturing sites, some 40 joint ventures and 27 technical centers in 36 countries. Regional headquarters are located in Paris, Tokyo and Sao Paulo.

Delphi can be found on the Internet at www.delphiauto.com.

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