Statement from Adam Opel GmbH regarding talks with the German Chancellery

Opel thanks German Chancellor Angela Merkel (CDU), Economics Minister Michael Glos (CSU) and Finance Minister Peer Steinbrück (SPD) for the opportunity to meet in the Federal Chancellery today and to talk about possible government guarantees. The talks were conducted in a very constructive and open atmosphere. The representatives of Adam Opel GmbH are therefore reassured that their request was listened to seriously and will be so considered.

Carl-Peter Forster, Supervisory Board President of Adam Opel GmbH and President of General Motors Europe underscores once again the special situation of Opel as a subsidiary of General Motors. "Opel does not have a short-term liquidity problem, Forster says. Instead, the talks were required in the worst-case scenario that financial flows from the US no longer would be possible. It would then be necessary to secure the competitiveness of Opel. In this case, a government guarantee could be a solution. "We are not talking about subsidies, rather a protective umbrella of available liquidity in the worst case, Forster says.

The Opel management, Forster says, feels duty bound to work toward the goal of securing the future of this traditional brand. This is particularly important for the future of great automobiles: On the very day of the chancellery talks, the new Opel Insignia was awarded "Car of the Year 2009 by expert motoring journalists.

Participants in the talks for Opel were Carl Peter Forster, Supervisory Board President of Adam Opel GmbH and President of General Motors Europe; Hans Demant, Opel Managing Director and Klaus Franz, head of Opel Works Council.

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