Shares Redmpt/Div.Declaration

General Motors Corp 6 February 2001 Contact: Catherine Dunsby (212) 418 6385 GM ANNOUNCES REDEMPTION OF SERIES-G DEPOSITARY SHARES AND SERIES-G TOPrS GM BOARD ALSO DECLARES QUARTERLY DIVIDEND NEW YORK - General Motors Corp. (NYSE: GM) today announced the planned redemption of outstanding Series-G securities with a total face value of approximately $252 million. The GM Board of Directors also today declared quarterly dividends on its GM $1-2/3 par value common stock and Series-H preference stock. GM will redeem approximately five million outstanding depositary shares, each of which represents a one-fourth interest in a GM Series-G 9.12% Preference Share (NYSE: GM.G). The corporation has also announced the planned redemption of about five million outstanding Series-G 9.87% Trust Originated Preferred Securities (TOPrS) (NYSE: GM.Y). Both securities became redeemable on Jan. 1, 2001. The redemption date is April 2, 2001. Investors will receive official notice of the redemptions by publication and by mail. 'This accomplishes the elimination of two relatively expensive debt-like liabilities for General Motors,' said GM Vice President and Treasurer Eric A. Feldstein. The Series-G depositary shares will be redeemed at a price of $25 per depositary share plus accrued and unpaid dividends of $0.59 per share, for a total redemption price of $25.59 per depositary share. The Series-G depositary shares were issued in Dec. 1992. The Series-G TOPrS will be redeemed at a price of $25 per security plus accrued and unpaid dividends of $0.42 per share, for a total redemption price of $25.42 per depositary share. They were issued in July 1997. The redemption/paying agent for the redemption of the Series-G depositary shares and the Series-G TOPrS is Fleet National Bank, 150 Royall Street, Canton, Mass., 02021. Stockholders with questions about their Series-G preference shares or Shares-G TOPrS may call the information agent, Morrow & Company, toll-free at 1-800-607-0088. GM Board Declares Quarterly Dividend Separately, the General Motors Board of Directors today declared a quarterly dividend of $0.50 per share on GM $1-2/3 common stock. The dividend is payable March 10, 2001, to holders of record as of Feb 16, 2001. The dividend rate is unchanged from the previous quarter. The GM board also today declared a quarterly dividend of $8.7793 per GM Series H automatically convertible preference stock. This dividend is payable on May 1, 2001, to AOL Time Warner, the sole holder of record, on April 2, 2001.