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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No.)
Filed by the Registrant [x]
Filed by a Party other than the Registrant [_]
Check the appropriate box:
[_] Preliminary Proxy Statement [_] CONFIDENTIAL, FOR USE OF THE
COMMISSION ONLY (AS PERMITTED BY
RULE 14A-6(E)(2))
[_] Definitive Proxy Statement
[x] Definitive Additional Materials
[_] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
General Motors Corporation
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[x] No fee required
[_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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[_] Fee paid previously with preliminary materials.
[_] Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
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(4) Date Filed:
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Notes:
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DEFINITIVE ADDITIONAL MATERIALS
The following pages contain material (the "Material"), which, along with
material included in the Schedule 14A of General Motors Corporation ("GM") dated
November 19, 1997, will be used by representatives of Hughes Electronics
Corporation ("Hughes Electronics") in discussions with, and presentations to,
employees of Hughes Electronics to commence on or about December 4, 1997. The
Material relates to a series of transactions involving Hughes Electronics (the
"Hughes Transactions"), the merger of Raytheon Company ("Raytheon") with the
defense electronics business of Hughes Electronics (the "Raytheon Merger"),
Raytheon, the company surviving the Raytheon Merger ("New Raytheon"), and the
telecommunications and space business of Hughes Electronics after the Hughes
Transactions ("Hughes Telecom"), each as more fully described in the
solicitation statement/prospectus (the "Solicitation Statement/Prospectus")
which forms a part of the Registration Statements on form S-4 of GM, File No.
333-37215, and HE Holdings, Inc., File No. 333-37223. Please refer to the
Solicitation Statement/Prospectus for additional information on the Hughes
Transactions, the Raytheon Merger, Raytheon, New Raytheon, and Hughes Telecom.
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[HUGHES ELECTRONICS LOGO]
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RAYTHEON [HUGHES ELECTRONICS LOGO]
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Industry Consolidation
. First Purpose of Hughes Transactions is to Facilitate Hughes Defense's
Participation in U.S. Defense Industry Consolidation
. U.S. Defense Budget has been Steadily Declining Since 1986
. Industry-wide Consolidation has Resulted in Two Tiers of Participants
- Defense Giants - Lockheed Martin, Boeing, & Raytheon
- Niche Players
. Raytheon Merger is Intended to Allow Hughes Defense to Maintain Leading
Position, Improve Competitiveness, and Enhance Growth Opportunities
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RAYTHEON [HUGHES ELECTRONICS LOGO]
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Today
. A Leader in Defense and Government Electronics
. The Leader in Business Aviation and Special Mission Aircraft
. One of the Leaders in Engineering, Construction, Operations, and
Maintenance
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RAYTHEON [HUGHES ELECTRONICS LOGO]
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Strong Operating Performance
Net Sales ($B) Operating Inc. ($B) Backlog ($B)
[BAR CHART APPEARS HERE] [BAR CHART APPEARS HERE] [BAR CHART APPEARS HERE]
Average Annual Stockholder Return: 23%
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RAYTHEON [HUGHES ELECTRONICS LOGO]
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Strategic Goals
. Maintain Leadership Position in Electronics
-A Leader in Defense
-Build on Proven Track Record, Leveraging Defense Technologies for
Commercial Markets
. Maximize International Presence
-Goal: 50% of Revenues Derived Overseas by Year 2000
. Continue to Focus Resources in Core Growth Businesses
. Leverage Expanded Technology Base to Increase "Win Ratios"
. Expand Commercial Leadership Positions in General Aviation and Engineering
and Construction
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RAYTHEON [HUGHES ELECTRONICS LOGO]
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A Premier Defense Electronics Business
One of the Leaders in:
. Missiles
. Radars
. Reconnaissance, Surveillance, and Intelligence
. C4I
. Training Simulators and Services
. Air Traffic Control Systems
. GPS Systems
. Naval Systems
. Electro-optics
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RAYTHEON [HUGHES ELECTRONICS LOGO]
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Going Forward
. A Proven Leader in Electronics
. A Well Diversified Company
. Solid Track Record of Implementation of Synergies
. Strong Free Cash Flow--Return to Historical Debt-to-Capital Levels
. Improving EPS and Shareholder Returns
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NEW RAYTHEON [HUGHES ELECTRONICS LOGO]
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Summary
. Defense Powerhouse
. Increased Competitiveness
. Enhanced Growth Opportunities
. Leadership in Engineering, Construction,
Aircraft
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HUGHES TELECOMMUNICATIONS [HUGHES ELECTRONICS LOGO]
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Summary
. $3.9B Cash Injection
. Market and Technology Leadership
. Proven Management Team
. Growth Markets
