GENERAL MOTORS CORP
SC 13E3/A, 1995-05-19
MOTOR VEHICLES & PASSENGER CAR BODIES
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                AMENDMENT NO. 1

                              (DATED MAY 19, 1995)
                                       TO
                                SCHEDULE 13E-3/A
                        RULE 13E-3 TRANSACTION STATEMENT
       (PURSUANT TO SECTION 13(E) OF THE SECURITIES EXCHANGE ACT OF 1934)

                           GENERAL MOTORS CORPORATION
                                (NAME OF ISSUER)
                           GENERAL MOTORS CORPORATION
                      (NAME OF PERSON(S) FILING STATEMENT)

              DEPOSITARY SHARES, EACH REPRESENTING ONE-FOURTH OF A
                   SHARE OF SERIES B 9 1/8% PREFERENCE STOCK
              DEPOSITARY SHARES, EACH REPRESENTING ONE-FOURTH OF A
                    SHARE OF SERIES D 7.92% PREFERENCE STOCK
              DEPOSITARY SHARES, EACH REPRESENTING ONE-FOURTH OF A
                    SHARE OF SERIES G 9.12% PREFERENCE STOCK
                         (TITLE OF CLASS OF SECURITIES)

                                   370442808
                                   370442857
                                   370442790
                     (CUSIP NUMBER OF CLASS OF SECURITIES)

                                J. MICHAEL LOSH
                            EXECUTIVE VICE PRESIDENT
                           GENERAL MOTORS CORPORATION
                           3044 WEST GRAND BOULEVARD
                          DETROIT, MICHIGAN 48202-3091
                                 (313) 556-3549
                 (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
                AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS
                   ON BEHALF OF THE PERSON FILING STATEMENT)

                                    COPY TO:

<TABLE>
<S>                                            <C>
             WARREN G. ANDERSEN                           ROBERT S. OSBORNE, P.C.
         GENERAL MOTORS CORPORATION                          KIRKLAND & ELLIS
          3031 WEST GRAND BOULEVARD                        200 EAST RANDOLPH ST.
        DETROIT, MICHIGAN 48202-3091                   CHICAGO, ILLINOIS 60601-6636
               (313) 974-1528                                 (312) 861-2368
</TABLE>

    is statement is filed in connection with (check the appropriate box):

       a. / /  The filing of solicitation materials or an information statement
               subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under
               the Securities Exchange Act of 1934.

       b. / /  The filing of a registration statement under the Securities Act
               of 1933.

       c. /X/  A tender offer.

       d. / /  None of the above.

    Check the following box if soliciting materials or an information statement
referred to in checking box (a) are preliminary copies:  / /

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                               Page 1 of 7 pages
                            Exhibit Index on Page 4
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                               AMENDMENT NO. 1 TO
              RULE 13E-3 TRANSACTION STATEMENT ON SCHEDULE 13E-3/A

    This  Amendment  No.  1  dated  May 19,  1995,  supplements  the  Rule 13e-3
Transaction Statement on Schedule 13E-3  filed with the Securities and  Exchange
Commission  on  April  25,  1995,  by  General  Motors  Corporation,  a Delaware
corporation (the "Corporation"), in  connection with its  Offer to Purchase  for
Cash  dated April 25, 1995 (the "Offer to Purchase"), to purchase any and all of
its:

    -SERIES B  9  1/8% DEPOSITARY  SHARES:   44,300,000  outstanding  depositary
     shares  (the  "Series  B  9  1/8%  Depositary  Shares"),  each representing
     one-fourth of a share of  its Series B 9  1/8% Preference Stock, par  value
     $0.10  per share  (the "Series  B 9 1/8%  Preference Stock")  at a purchase
     price of  $27.50  per Series  B  9 1/8%  Depositary  Share (the  "Series  B
     Purchase Price"), net to the seller in cash (the "Series B Offer").

    -SERIES D 7.92% DEPOSITARY SHARES:  15,700,000 outstanding depositary shares
     (the "Series D Depositary Shares"), each representing one-fourth of a share
     of  its Series  D 7.92%  Preference Stock, par  value $0.10  per share (the
     "Series D  7.92% Preference  Stock") at  a purchase  price of  $26.375  per
     Series D 7.92% Depositary Share (the "Series D Purchase Price"), net to the
     seller in cash (the "Series D Offer").

    -SERIES G 9.12% DEPOSITARY SHARES:  23,000,000 outstanding depositary shares
     (the "Series G 9.12% Depositary Shares"), each representing one-fourth of a
     share  of its Series  G 9.12% Preference  Stock, par value  $0.10 per share
     (the "Series G 9.12% Preference Stock")  at a purchase price of $28.25  per
     Series G 9.12% Depositary Share (the "Series G Purchase Price"), net to the
     seller in cash (the "Series G Offer").

    The  Series B Offer, the Series D  Offer and the Series G Offer collectively
constitute the "Offers".  The Series B  9 1/8% Depositary  Shares, the Series  D
7.92%  Depositary Shares and  the Series G  9.12% Depositary Shares collectively
constitute the "Depositary Shares". Each Offer has its own Letter of Transmittal
and Notice of Guaranteed Delivery.

    The following information supplements the information previously included in
the original Schedule 13E-3.

- -------------------------------------------

ITEM 14.  FINANCIAL INFORMATION.

    (a) The Corporation's Quarterly  Report on Form 10-Q  for the quarter  ended
March 31, 1995 is hereby incorporated by reference.

ITEM 17.  MATERIALS TO BE FILED AS EXHIBITS.

    (f) Additional Solicitation Materials
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    After due inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and correct.

                                          General Motors Corporation
                                          By: __HEIDI KUNZ______________________
                                             Heidi Kunz
                                             Vice President and Treasurer

Dated: May 19, 1995
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                                 EXHIBIT INDEX

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                                                                                                         SEQUENTIALLY
EXHIBIT NO.                                         DESCRIPTION                                          NUMBERED PAGE
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<S>           <C>                                                                                       <C>
  (f)         Additional Solicitation Materials
</TABLE>

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                                                                  APRIL 25, 1995
                                                                     SEC # 31785

          PROCESSED DATE APR 25, 1995
          USER LETTER NUMBER 00594X


                                IMPORTANT NOTICE
                                ----------------

                           GENERAL MOTORS CORPORATION

DEPOSITARY SHARES (EACH REPRESENTING ONE-FOURTH OF A SHARE OF ITS 9.12X SERIES G
PREFERENCE STOCK PAR VALUE $0.10)

THIS OFFER TO PURCHASE THE ABOVE SECURITY IS MADE SUBJECT TO THE TERMS SET BY
THE PURCHASER.  IT WILL BE OPEN FOR A LIMITED TIME AND ITS TERMS MAY BE CHANGED
WITHOUT ADVANCE NOTIFICATION.  IF YOU DECIDE TO ACCEPT THIS OFFER PLEASE GIVE
YOUR INSTRUCTIONS TO YOUR FINANCIAL CONSULTANT AS SOON AS POSSIBLE IN ORDER THAT
MERRILL LYNCH MAY DEPOSIT YOUR SECURITIES IN ACCEPTANCE OF THE OFFER BEFORE THE
CURRENT EXPIRATION DATE.

WE HAVE BEEN ADVISED THAT THE COMPANY IS OFFERING TO PURCHASE ITS ABOVE SECURITY
SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS.

AMOUNT TO BE
ACQUIRED:                ANY AND ALL OF THE ABOVE SECURITY

PER SHARE
PURCHASE PRICE:          $28.25

EXPIRATION DATE:         MAY 22, 1995 (12:00 MIDNIGHT, EASTERN TIME)

FINAL DATE TO ENTER
INSTRUCTIONS:            MAY 19, 1995 (4:30 P.M., JERSEY CITY, NEW JERSEY TIME)

DEPOSITED
SECURITY MAY BE
WITHDRAWN BY:            MAY 22, 1995 (12:00 MIDNIGHT, EASTERN TIME)

FINAL DATE TO ENTER
INSTRUCTIONS:            MAY 19, 1995 (4:30 P.M., JERSEY CITY, NEW JERSEY TIME)

CONSUMMATION OF THIS OFFER WILL BE SUBJECT TO VARIOUS CONDITIONS BEING
SATISFIED.

THIS OFFER MAY BE AMENDED OR TERMINATED UNDER CERTAIN

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CONDITIONS.

THE COMPANY RESERVES THE RIGHT TO EXTEND THIS OFFER AT ITS ELECTION.

CURRENT MARKET PRICES SHOULD BE CHECKED.

IT IS SUGGESTED THAT CLIENTS CONSULT THEIR OWN PERSONAL TAX ADVISOR WITH RESPECT
TO THE TAX CONSEQUENCES OF THIS TRANSACTION.

IN ORDER TO ACCEPT THIS OFFER CLIENTS SHOULD GIVE THEIR SPECIFIC INSTRUCTIONS TO
THE OFFICE HANDLING THEIR ACCOUNTS NO LATER THAN THE SPECIFIED DATE AND TIME
GIVEN ABOVE.

INSTRUCTIONS TO WITHDRAW DEPOSITED SECURITIES ALSO SHOULD BE RECEIVED BY THE
ABOVE SPECIFIED DATE AND TIME.

ENTRIES COVERING THE ABOVE TRANSACTION WILL APPEAR ON THE MONTHLY STATEMENTS.

FOR FULL DETAILS PERTAINING TO THIS OFFER IT IS SUGGESTED THAT YOU CAREFULLY
READ THE OFFERING MATERIAL WHICH IS MAILED HEREWITH OR WILL BE MAILED UNDER
SEPARATE COVER.

                                        MERRILL LYNCH PIERCE FENNER & SMITH
                                                    INCORPORATED



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