Delphi Announces Potential Amendments to Plan of Reorganization, Investment Agreement and GM Settlement

Market Wire, November, 2007

                          Original Plan         Revised Potential Amendment
                           (09/06/2007)                (11/14/2007)
                   ===========================  ===========================
Net Funded Debt    $7.1 billion                 $5.2 billion
                   ---------------------------  ---------------------------
Plan Equity Value  Total enterprise value of    Total enterprise value of
                   $13.9 billion, which after   $13.4 billion, which after
                   deducting net debt and       deducting net debt and
                   warrant value results in     warrant value results in
                   distributable equity value   distributable equity value
                   of $6.6 billion (or          of $8.1 billion (or
                   approximately $45.00 per     approximately $61.72 per
                   share based on               share based on
                   approximately 147.6 million  approximately 131.3 million
                   shares)                      shares)
                   ---------------------------  ---------------------------
Plan Investors     Direct Investment            Direct Investment
                   - Purchase $400 million of   - Purchase $400 million of
                   preferred stock convertible  preferred stock convertible
                   at an assumed enterprise     at an assumed enterprise
                   value of $11.75 billion      value of $10.25 billion
                   (or 30.1% discount from      (or 37.8% discount from
                   Plan Equity Value)           Plan Equity Value)
                   - Purchase $400 million of   - Purchase $400 million of
                   preferred stock convertible  preferred stock convertible
                   at an assumed enterprise     at an assumed enterprise
                   value of $12.80 billion      value of $10.75 billion
                   (or 14.3% discount from      (or 31.6% discount from
                   Plan Equity Value)           Plan Equity Value)
                   - Purchase $175 million of   - Purchase $175 million of
                   New Common Stock at an       New Common Stock at an
                   assumed enterprise value of  assumed enterprise value of
                   $12.80 billion (or 14.3%     $10.25 billion (or 37.8%
                   discount from Plan Equity    discount from Plan Equity
                   Value)                       Value)
                   ---------------------------  ---------------------------
GM                 Recovery of $2.7 billion     Recovery of $2.6 billion at
                   - $2.7 billion in Cash       Plan value of $13.4 billion
                                                - At least $750 million in
                                                Cash
                                                - Up to $750 million in a
                                                second lien note
                                                - $1.1 billion in junior
                                                convertible preferred stock
                                                at Plan value of $13.4
                                                billion ($1.2 billion in
                                                liquidation value)
                   ---------------------------  ---------------------------
Unsecured          Par plus accrued recovery    Par plus accrued recovery
Creditors          at Plan value of $13.9       at Plan value of $13.4
                   billion                      billion
                   - 80% in New Common          - 75.5% in New Common Stock
                   Stock at Plan Equity Value   at Plan Equity Value
                   - 20% in Cash                - 24.5% through pro rata
                                                participation in the
                                                Discount Rights Offering at
                                                an assumed enterprise value
                                                of $10.25 billion (or 37.8%
                                                discount from Plan Equity
                                                Value)
                   ---------------------------  ---------------------------
TOPrS              Par plus accrued recovery    Par only recovery at Plan
                   at Plan value of $13.9       value of $13.4 billion
                   billion                      - 75.5% in New Common Stock
                   - 100% in New Common Stock   at Plan Equity Value
                   at Plan Equity Value         - 24.5% through pro rata
                                                participation in the
                                                Discount Rights Offering at
                                                an assumed enterprise value
                                                of $10.25 billion (or
                                                37.8% discount from Plan
                                                Equity Value)
                   ---------------------------  ---------------------------
Existing Common    Par Value Rights             Par Value Rights
Stockholders       - Right to acquire           - Right to acquire
                   approximately                approximately
                   12,711,111 shares of New     20,770,345 shares of New
                   Common Stock at a purchase   Common Stock at a purchase
                   price struck at Plan Equity  price struck at Plan Equity
                   Value                        Value
                   ---------------------------  ---------------------------
                   Warrants                     Warrants
                   - Warrants to acquire an     - Warrants to acquire
                   additional 5% of New Common  6,908,758 shares of New
                   Stock exercisable for five   Common Stock (which
                   years after emergence        comprises 5% of the fully
                   struck at Plan Equity Value  diluted New Common Stock)
                                                exercisable for five years
                                                after emergence struck at
                                                32.4% premium to Plan
                                                Equity Value
                                                - Warrants to acquire $1.0
                                                billion of New Common Stock
                                                exercisable for six months
                                                after emergence struck at
                                                8.2% premium to Plan
                                                Equity Value
                   ---------------------------  ---------------------------
                   Direct Distribution          No provision for Direct
                   - 1,476,000 shares of New    Distribution
                   Common Stock
                   ---------------------------  ---------------------------
                   Participation in Discount    No Provision for
                   Rights Offering              Participation in Discount
                   - Right to purchase          Rights Offering
                   40,845,016 shares of New
                   Common Stock at a purchase
                   price of $38.56 per share
                   ---------------------------  ---------------------------