GENERAL MOTORS CORPORATION
DIVIDEND AND CASH INVESTMENT PLAN
PROSPECTUS
DATED JUNE 10, 1999
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DIVIDEND AND CASH INVESTMENT PLAN
We are pleased to share with you a plan that offers owners of General Motors
Common Stock, $1 2/3 par value ("GM Stock"), a convenient and automatic way to
increase your GM Stock ownership. We invite you to take advantage of this
opportunity to systematically increase your investment in GM through our
enhanced Dividend and Cash Investment Plan (the "Plan").
If you are a registered owner of at least one share of GM Stock, you may elect
to automatically reinvest all or part of your dividends in additional shares of
GM Stock. Once you join the Plan, the purchase of additional GM Stock through
dividend reinvestment requires no further action on your part.
- All or part of the cash dividends you are entitled to receive on your
shares of GM Stock may be invested automatically to purchase additional
shares.
- Each of your transactions is detailed in a comprehensive statement, which
will provide confirmation of your investments and current Plan account
balance. You may also make optional cash investments in GM Stock at any
time by check or money order.
- GM pays all administrative fees for any of your transactions noted above
as well as the brokerage commissions for any shares purchased for you.
There is a modest charge for the following Plan features:
- Automatic withdrawal of funds from your bank account to purchase
additional shares of GM Stock.
- Each sale of GM Stock from your Plan account.
The following pages of this Prospectus constitute the complete terms and
conditions of the Plan and are presented to you in question-and-answer format.
Please read the Prospectus carefully prior to enrolling and retain this booklet
for future reference.
You may enroll by calling our Plan Administrator at GM Shareholder Services at
1-800-331-9922. If you are currently a participant in the prior General Motors
Dividend Reinvestment Plan, you will automatically become a participant in this
Plan. It is not necessary to re-enroll. If you have questions, or need
additional information to make your enrollment decision, our Shareholder
Services representatives will be happy to discuss the features of the Plan with
you.
General Motors Corporation
June 10, 1999
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PLAN SUMMARY
ELIGIBILITY
Only stockholders owning one or more shares of GM Stock are eligible to
participate in the Plan.
- If you are a registered stockholder (which means you receive dividend
payments directly from GM), you may enroll immediately by calling the Plan
Administrator at the phone number listed below.
- If your GM Stock is held through a broker or a bank (in "street name"),
please inquire about potential participation through your account
representative.
ENROLLMENT
You may enroll in the Plan by calling GM Shareholder Services at EquiServe (the
"Plan Administrator") at 1-800-331-9922.
DIVIDEND REINVESTMENT AND PURCHASE OF GM STOCK
- - All or part of your cash dividends are automatically reinvested.
- - You may purchase additional shares through optional cash investments.
- - You are subject to a $25 minimum for each optional cash investment you
make.
- - You may make optional cash investments of up to $150,000 annually.
PLAN FEATURES
- - Optional telephone service to enroll in the Plan or sell your Plan shares of
GM Stock.
- - Weekly investment of optional cash purchases.
- - General Motors pays all costs for recordkeeping, reports, custody, and
administration.
- - Brokerage commissions on all purchases of GM Stock are paid by General
Motors.
- - Accounts are credited with fractional shares.
- - Optional automatic credit and debit of your bank account.
SALE OF GM STOCK
- - You may sell GM Stock held in your Plan account through the Plan
Administrator by telephone or letter.
- - You will pay a nominal brokerage commission and service fee on each sale of
your GM Stock through the Plan.
- - You may also request certificates for your GM Stock and sell the shares
through a broker of your choice.
RECORDKEEPING AND ADMINISTRATION
- - Statements detailing your current Plan account balance and activity will be
issued to you each time there is an account transaction. This provides you
with a record of all your GM Stock purchases and sales.
- - GM Stock purchased for you is held in your Plan account by the Plan
Administrator.
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Participation
Who is eligible to enroll in the Plan?
If you are a registered owner of one or more shares of GM Stock, you may
participate immediately in the Plan. You can elect to reinvest all or part of
your quarterly dividends and/or make optional cash investments to purchase
additional shares of GM Stock.
If your GM Stock is held in "street name", you may inquire about dividend
reinvestment and optional cash purchase through your account representative. One
option is to register some or all of your GM stock directly in your name in
order to participate in GM's Plan. Any fees or charges assessed by your bank or
broker are your responsibility and will not be paid by General Motors.
If you do not currently own GM Stock, you can participate in the Plan
immediately after acquiring your first share.
How do I enroll in the Plan?
After reading this Prospectus, you can enroll by calling our Plan Administrator,
EquiServe, at 1-800-331-9922. EquiServe will answer any questions you have
regarding the Plan and can enroll you immediately over the phone.
After enrolling in the Plan, when will the reinvestment of my dividends begin?
Your dividends will begin to be reinvested with the next paid cash dividend,
provided your enrollment is received by the Plan Administrator at least one day
prior to the dividend record date.
You may also make optional cash investments to purchase GM Stock as soon as you
join the Plan.
Plan Administration and Custodial Service What is the role of the Plan
Administrator?
GM's Plan Administrator, EquiServe (or a successor selected by General Motors),
maintains GM's registered stockholder records. The Plan Administrator receives
and reinvests the cash dividends and optional cash investments for Plan
accounts. The Plan Administrator also prepares and mails statements to each
participant that provide an accurate record of the participant's Plan account
activity and share balance.
How does the Plan's custodial service work?
The Plan provides custodial services by holding all shares of GM Stock purchased
through the Plan on behalf of the Plan participants. GM Stock purchased on your
behalf is added to your Plan account. In addition, this custodial service offers
you the option of sending your GM Stock certificates to the Plan Administrator
for safekeeping and the shares will be included in your Plan balance. Sending
your stock certificates to the Plan Administrator permits you to take advantage
of the low costs involved if you sell your GM Stock through the Plan. It also
eliminates worry about losing your stock certificates and paying the fees
required to obtain replacement certificates.
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What reports will I be sent?
You will receive, from the Plan Administrator, quarterly statements summarizing
all transactions that occurred during the prior quarter in your Plan account. In
addition, as soon as practicable after each optional cash investment or sale of
GM Stock, an account statement will be mailed to you detailing your purchase(s)
or sale(s) of GM Stock. The statements will show the date(s) of your
transaction(s), the shares purchased or sold, and the total amount of GM Stock
in your account. These statements are your continuing records of current
activity and should be retained for tax purposes.
Optional Plan Features
Am I required to reinvest all of my cash dividends if I participate in the Plan?
The Plan offers you the flexibility of investing all or part of your cash
dividends. You may also continue to receive 100% of your dividends and use the
Plan to purchase GM Stock by making optional cash investments.
What if my earned dividends are not sufficient to purchase a complete share of
GM Stock? Fractional shares are credited to your account. Future dividends will
be calculated on your total holdings of both whole and fractional shares of GM
Stock.
Are there any restrictions on optional cash investments? You may make optional
cash investments in any amount from $25 per investment up to $150,000 per year.
These payments must be made in U.S. funds by check, money order, or automatic
withdrawal from your checking or savings account drawn on a United States bank.
You may make these optional cash investments on a regular basis, or you may vary
the amount and timing of each investment. If you would like to make an optional
cash investment exceeding the annual maximum, you must first obtain General
Motors' approval. These requests for approval should be directed to the Plan
Administrator. It is totally within GM's discretion whether to grant any such
approval.
If I make optional cash investments, when will these shares of GM Stock be
bought and credited to my account? You may submit optional cash investments to
the Plan Administrator at any time. However, GM Stock will be purchased by the
Plan Administrator during the week following receipt of your funds. Your
optional cash investments for any week must be received by the Plan
Administrator by Friday at 1 p.m. Eastern time for investment the following
week. GM Stock purchased will be credited to your account on the third day
following the purchase date and will be credited at the average price of all GM
Stock purchased for the Plan during the purchase period. No interest is paid on
funds held for investment.
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Where do I send my optional cash investments?
Upon request, the Plan Administrator will provide you with your first optional
cash investment form and subsequently an investment form will be included with
each Plan account statement you receive.
Checks or money orders in U.S. currency should be made payable to
BankBoston, N.A. and mailed to:
EquiServe
General Motors Corporation
P.O. Box 370042
Boston, MA 02241-0742
Please note that a delivery to any other address may cause your investment to be
delayed. It is also important to indicate your Plan account number on your check
or money order and include an optional cash investment form in the envelope.
Third-party checks will not be accepted.
There is a $25 service charge imposed for any deposit returned unpaid. If the
deposit is returned, the investment will be considered "void", and a portion of
the GM Stock from your Plan account will be sold to cover the transaction. More
GM Stock may be sold than was purchased with the returned deposit due to
fluctuations in market price.
Can I make optional cash investments electronically from my bank account to the
Plan Administrator? The Plan has the flexibility to either credit or debit your
U.S. bank account, depending on the features you select. You may use the debit
feature to make optional cash investments. You may also elect to electronically
deposit directly to your bank account all or any part of the dividends that you
do not choose to reinvest. Electronic transfer assures timely receipt of your
funds for investment purposes and offers the convenience of a prompt deposit of
dividends into your account. If you would like to take advantage of either of
these features, please call the Plan Administrator and the appropriate
enrollment forms will be sent to you.
If you elect this option, your funds will be debited from your bank account on
the 25th day of each month. If the 25th day of the month is a weekend or
holiday, the debit date will be the preceding business day. The funds will be
invested the following Tuesday provided that the date is at least three (3)
business days after the debit date. If the next Tuesday is a holiday, or if the
New York Stock Exchange is closed, the investment will be made the next business
day.
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Can I obtain a refund if I change my mind after initiating an optional cash
investment? We cannot refund your optional cash investments due to the time
constraints involved with weekly purchases. However, once your shares have been
purchased, you may sell them through the Plan.
GM Stock Purchases
When is GM Stock purchased using dividend reinvestment?
If you are reinvesting all or part of your dividends, and if the GM Stock is
being purchased on the open market, additional shares of GM Stock will be
purchased beginning on the dividend payment date and extending over a period of
consecutive days until the dividends of all Plan participants are reinvested. If
GM Stock is purchased directly from GM, it will be purchased on the dividend
payment date. Dividends on GM Stock are customarily paid four times a year:
approximately the 10th of March, June, September, and December.
What is the source of the GM Stock offered under the Plan? Prior to the record
date for any dividend payment or investment date for optional cash investments,
General Motors determines the source of the GM Stock to be purchased from one of
three choices: open market purchases, treasury shares, or original issue shares.
Open market purchases are made on any securities exchange where GM Stock is
traded, in the over-the-counter market, or by negotiated transactions. Treasury
shares and original issue shares are purchased directly from General Motors. The
Plan Administrator makes all decisions as to price, delivery, and any other
matters related to purchases on the open market. As of the date of this
Prospectus, it is General Motors' current policy to have the Plan Administrator
purchase all GM Stock on the open market.
How is my purchase price of GM Stock determined?
Open market purchases of GM Stock are credited to your Plan account at the
average cost of all shares purchased by the Plan Administrator during the
relevant investment period. Original issue and treasury shares are credited to
your Plan account at the average of the high and low market prices of GM Stock
as reported in The Wall Street Journal, Eastern Edition on the relevant
investment date.
How many shares of GM Stock will be purchased for my account? The number of
whole shares and any fractional share (computed to three decimal places)
credited to your Plan account will be based on the amount you invest divided by
the purchase price of the shares. This applies to shares purchased with either
optional cash investments or reinvested dividends.
Will I receive stock certificates for shares purchased through the Plan? For
your convenience and to protect against loss, destruction, or theft, stock
certificates will not be distributed for shares purchased through the Plan.
However, at your request, the Plan Administrator will provide you with a stock
certificate at no cost. No certificate will be issued for fractional shares.
Are there any minimum or maximum limitations on dividend reinvestment? There is
no minimum requirement for dividend reinvestment. The annual maximum is $100,000
per participant. If you would like to reinvest dividends exceeding the annual
maximum, you must first obtain the specific approval of General Motors by
calling the Plan Administrator. It is totally within the discretion of General
Motors whether to grant its approval.
Costs
Are there any costs to me to participate in the Plan?
- - General Motors absorbs almost all administrative fees associated with
reinvesting your dividends or making optional cash investments. If you elect
to make an automatic withdrawal from your checking or savings account to make
optional investments, a fee of $2.00 will be deducted from the amount
invested.
- - General Motors pays any brokerage commissions for purchases of GM Stock.
However, the Internal Revenue Service considers the brokerage commissions
paid by General Motors to be additional dividend income to you. This will be
reflected on your annual Form1099 statement.
- - For each sale of whole shares from your Plan account, you will be charged a
$15.00 service charge and a nominal brokerage commission. The brokerage
commission charged to you will be nominal since the Plan Administrator is
able to use the size of its transactions to negotiate very low commissions.
Safekeeping of stock certificates
Can I deposit stock certificates I currently hold into my Plan account? Yes. If
you choose, you may send any GM stock certificates you currently hold to the
Plan Administrator for safekeeping. This is also referred to as a custodial
service. Your certificated shares of GM Stock will be credited to your Plan
account at no charge.
If you elect this optional service, please use registered or insured mail to
send your stock certificates to the Plan Administrator at the general
correspondence address indicated on the last page of this Prospectus. You must
include written instructions indicating that these shares are to be placed in
your Plan account. Do not endorse the stock certificates. You bear the risk of
loss in transit, and we urge you to use a delivery system with a tracking
mechanism to protect your investment.
Selling GM Stock in my Plan account How do I sell my Plan shares of GM Stock?
You can sell your shares of GM Stock in the Plan through a toll-free call to the
Plan Administrator provided the dollar value of the sale is less than $50,000
and the proceeds of the sale are to be payable to the exact name(s) on the Plan
account registration and are to be mailed to the address of record.
If the dollar value of the shares to be sold is $50,000 or more, or if the
proceeds of the sale are to be made payable to a name or address different than
the current registration on your Plan account, you must submit your request in
writing to the Plan Administrator. In addition to the written request, your
signature must be guaranteed by a financial institution (such as a commercial
bank, credit union, or brokerage firm) that participates in a "medallion"
signature program. This medallion guarantee should appear at the bottom of your
letter, and it serves as your protection against an unauthorized sale of your GM
Stock.
The Plan Administrator will sell your shares as soon as possible after receipt
of your request. Your sale request will be combined with those of other Plan
participants selling at the same time and your proceeds will reflect the
weighted average price per share of all shares sold less a $15 service charge
and nominal brokerage commission. The Plan Administrator will compute the value
of any fractional share based on the price at which the whole shares were sold.
Generally, your check will be mailed within a week of the sales transaction.
You may also elect to sell your GM Stock through a stockbroker of your choice.
If you choose this option, you request a stock certificate from the Plan
Administrator for the number of whole shares you want to sell. Once you have the
stock certificate in your possession, you may sell the GM Stock through a broker
at a price and on the date you select. The Plan Administrator will mail your
certificate to you by insured, first-class mail within five business days of
your request.
How do I ensure that I get the best price for the sale of my GM Stock? If you
are selling your Plan shares of GM Stock, you should be aware that prices for GM
Stock may fall during the period between your request for sale, its receipt by
the Plan Administrator, and the ultimate sale of your shares on the open market.
This risk is borne solely by you and should be carefully evaluated.
The Plan Administrator is not a broker and, therefore, cannot accept your
instructions to sell on a particular day or at a specific price. The Plan is
designed for the long-term investor and does not afford you the same flexibility
as a stockbroker account. If you prefer to have control over the exact price and
timing of your sale, you will need to request a stock certificate from the Plan
Administrator for the shares you wish to sell and conduct that transaction
through your stockbroker. If you choose to sell through a broker after obtaining
your stock certificate, all brokerage fees are your responsibility.
Termination of Plan participation How do I stop reinvesting my dividends?
You must contact the Plan Administrator by telephone or in writing to stop
dividend reinvestment. You may then elect to instruct the Plan Administrator to
direct deposit future dividend payments to your bank or mail dividends to you.
Can I remain in the Plan without reinvesting my dividends? Yes. The Plan offers
you the flexibility of making optional cash investments either on a regular or
periodic basis even if you do not elect to reinvest any dividends.
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If I decide to terminate my participation in the Plan, when will my account be
closed? Your notice to end participation in the Plan will be effective upon
notification to the Plan Administrator, provided that the notice is received no
later than four business days before the dividend payment date. Otherwise, it
will not be effective until after the dividends have been invested and the
shares credited to your Plan account.
How will my assets be distributed to me if I close my Plan account? If you
choose, the shares in your Plan account will be sold and a check will be sent to
you. If you prefer, the Plan Administrator will issue you a stock certificate,
at no cost, for all whole shares in your Plan account. You will receive a check
for any fractional share.
Can General Motors terminate my participation in the Plan? General Motors may
terminate your Plan account at its discretion upon written notice mailed to your
address of record. In addition, if your plan account contains less than one
share of GM Stock, the Plan Administrator is authorized to terminate your Plan
account and mail you a check for the fractional share.
Gift or transfer of stock
Can I transfer some of my GM Stock while participating in the Plan? Yes, you may
make gifts or transfers of GM Stock at no charge. Please call the Plan
Administrator for instructions.
Tax Consequences
What are my Federal income tax consequences for participating in the Plan?
General Motors believes that the following is an accurate summary of the Federal
income tax consequences if you are a U.S. resident participating in the Plan:
- - Your dividends reinvested under the Plan are treated for Federal income tax
purposes as cash received by you on the dividend payment date even though the
dividends are used to purchase additional shares. Brokerage commissions paid
by GM on share purchases under the Plan are treated as additional dividend
income to you.
- - Your holding period for shares acquired according to the Plan will begin on
the day shares are allocated to your account.
- - The tax basis per share of GM Stock purchased on the open market through the
Plan will be the average cost incurred to purchase the shares plus the amount
of brokerage commission paid by General Motors that is attributable to those
shares.
The above summary does not reflect every possible situation that could result
from your participation in the Plan. You are urged to consult your own tax
advisor to determine the particular Federal, state and local tax consequences
which may result from your participation in the Plan and the subsequent
disposition of shares of GM Stock purchased within the Plan.
How are Federal income tax withholding provisions applied if I participate in
the Plan? If you fail to provide a taxpayer identification number, the Plan
Administrator must withhold 31% from the amount of any dividends paid on your
shares of GM Stock and from any proceeds arising from your sale of GM Stock held
in your Plan account. You may be exempt from this withholding requirement if
appropriate documentation regarding your tax situation has been received by the
Plan Administrator.
If you do not reside in the United States, income tax consequences may vary from
jurisdiction to jurisdiction. If you are a foreign stockholder whose dividends
are subject to U.S. income tax withholding, the appropriate amount will be
withheld. Any balance of your earned dividend after applicable tax withholding,
less any service charge for optional automatic bank debit, will be used to
purchase additional shares.
Additional Information
Can shares of GM Stock held in my Plan account be used as collateral for a loan?
Shares of GM Stock held in the Plan may not be used by you as collateral for a
loan. If you wish to use the shares as collateral, you must request the Plan
Administrator to issue you a stock certificate for such shares in your name.
Stock certificates for a fractional share cannot be issued under any
circumstances.
How will my shares of GM Stock held by the Plan Administrator be voted? Shares
of GM Stock, including any fractional share, held for you by the Plan
Administrator will be voted as you direct. One proxy card will be mailed to you
for all your shares held by the Plan Administrator and any shares for which you
hold a certificate(s).
You may vote your shares by mail, telephone, or on the Internet. If you do not
return your card, or vote by telephone or Internet, your shares will not be
voted.
How will my Plan account be credited if General Motors declares a stock split or
stock dividend? Your Plan account will be credited with the appropriate number
of shares of GM Stock on the payment date. If you prefer to receive a stock
certificate, you may do so by notifying the Plan Administrator after the payment
date. A stock dividend payable in other than GM Stock will be paid to you and
not credited to your Plan account.
What are the liabilities of General Motors and the Plan Administrator under the
Plan? Neither General Motors nor the Plan Administrator shall be liable for any
act done in good-faith or for any good-faith omission to act, including, without
limitation, any claims or liability: (a) with respect to the prices at which
shares of GM Stock are purchased or sold for your Plan account and the times
when such purchases or sales are made; (b) for any fluctuation in the market
value after purchases or sale of shares of GM Stock; or (c) for continuation of
your Plan participation until the Plan Administrator receives written notice of
your death accompanied by your estate's request to discontinue participation.
General Motors and the Plan Administrator provide no advice and make no
recommendation with respect to your purchases and sales of GM Stock. Your
decision to purchase or sell GM Stock must be made by you based upon your own
research and judgment.
May the Plan be changed or discontinued?
Notwithstanding any other provision of the Plan, the Board of Directors of
General Motors or a designated Board committee reserves the right to amend,
modify, suspend, or terminate the Plan at any time, including the period between
a record date and a dividend payment date. Notice of any material amendment or
modification, or of any suspension or termination, will be mailed to you.
Upon termination of the Plan, you will be mailed any optional cash investments
received and not invested, a stock certificate for whole shares credited to your
Plan account, and a check for any fractional share. However, if General Motors
terminates the Plan to establish a new plan, you will automatically be enrolled
in the successor plan and shares of GM Stock credited to your Plan account will
automatically be transferred to the new plan.
Any question of interpretation arising under the Plan will be determined by
General Motors and any such determination will be final. General Motors and/or
the Plan Administrator may adopt rules or practices to facilitate the
administration of the Plan.
What law governs the Plan?
The terms and conditions of the Plan and its operations shall be governed by the
laws of the State of New York.
Important Considerations
The purpose of the Plan is to provide a useful service for GM stockholders. We
are not recommending that you buy or sell GM Stock. You should only use the Plan
after you have independently researched your investment decision.
The value of GM Stock may go up or down from time to time. Plan accounts are not
insured by the Securities Investor Protection Corporation, the Federal Deposit
Insurance Corporation, or anyone else.
The Plan does not represent a change in the dividend policies of General Motors.
There can be no assurance as to the declaration of future dividends, or the rate
on which dividends are paid, since they necessarily depend upon GM's future
earnings, financial requirements, and other factors. Stockholders who do not
elect to participate in the Plan will continue to receive dividends in the usual
manner.
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Use of Proceeds
At present, GM expects the Plan Administrator to continue to purchase GM Stock
for the Plan in the open market. As a result, GM will not receive any proceeds.
If the Plan Administrator purchases shares directly from GM, GM intends to use
any net proceeds for general corporate purposes.
Documents Incorporated by Reference
The Securities and Exchange Commission (the "SEC") permits General Motors to
"incorporate by reference" information into this Prospectus. This means that GM
can disclose important information to you by referring you to another document
that General Motors has filed separately with the SEC. You should consider the
information which General Motors has incorporated by reference to be a part of
this Prospectus, except to the extent that the information actually contained in
this document replaces such other information. This Prospectus incorporates by
reference the documents listed below that General Motors has previously filed
with the SEC. These documents contain important information about General Motors
and its finances:
- The annual report on Form 10-K, as amended for the year ending December
31, 1998, which General Motors filed pursuant to Section 13(a) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act").
- - The quarterly reports on Form 10-Q and the current reports on Form 8-K which
General Motors has filed since December 31, 1998, pursuant to Section 13(e)
of the Exchange Act.
- - The description of GM Stock contained in Article Fourth of the General Motors
Restated Certificate of Incorporation, which General Motors filed as Exhibit
3(i) to its Current Report on Form 8-K, dated December 17, 1997, and any
amendment or report which General Motors files for the
purpose of updating that information.
In addition, the Prospectus incorporates by reference all documents and reports
which General Motors files after the date of this Prospectus pursuant to Section
13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the time that General
Motors files a post-effective amendment which indicates that it has sold all
securities offered by this Prospectus or which de-registers all remaining unsold
securities.
If you are eligible to participate in the Plan and you would like a copy of any
of the documents listed above, General Motors will provide them (without the
exhibits) to you at no charge. To request any of these documents, you should
write or telephone:
EquiServe
General Motors Corporation
P.O. Box 8036
Boston, MA 02266-8036
Telephone: 1-800-331-9922
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Available Information
General Motors files annual, quarterly, special reports, proxy statements, and
other information with the SEC. You may read and copy any reports, proxy
statements, and other information that General Motors files at the SEC's public
reference rooms in:
- - Washington, D.C. (450 Fifth Street, NW, Washington D.C. 20549)
- - New York (Seven World Trade Center, Suite 1300, New York, New York 10048)
- - Chicago (Citicorp Center, 500 West Madison Street, Suite 1400, Chicago,
Illinois 60661)
You may also read these reports, proxy statements and other information at the
following stock exchanges:
- - New York Stock Exchange (11 Wall Street, New York, NY 10005)
- - Chicago Stock Exchange (One Financial Place, 440 South LaSalle Street,
Chicago, IL 60605)
- - Pacific Stock Exchange (233 South Beaudry Street, Los Angeles, CA 90012
and 901 Pine Street, San Francisco, CA 94014)
- - Philadelphia Stock Exchange (1900 Market Street, Philadelphia, PA 19103).
The above materials can also be read on the Internet at the SEC Web site at
www.sec.gov and at the General Motors Web site at www.gm.com.
Experts
The consolidated financial statements and financial statement schedules included
in the General Motors 1998 Annual Report on Form 10-K, as amended, have been
audited by Deloitte & Touche LLP (as to financial statements and the financial
statement schedule of General Motors and as to financial statements of Hughes
Electronics Corporation), independent auditors, as stated in their reports which
were included in the General Motors 1998 Annual Report. General Motors has
incorporated those financial statements and schedules by reference into this
Prospectus in reliance upon the reports of Deloitte & Touche LLP and upon the
authority of Deloitte & Touche LLP as experts in accounting and auditing.
LEGAL OPINION
Martin I. Darvick, Attorney, Legal Staff of General Motors, has passed upon
the legality of the GM Stock offered by this Prospectus. Mr. Darvick owns
shares and has options to purchase shares of GM Stock.
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WHERE TO REACH US
For information on the Plan:
1-800-331-9922 - EquiServe/GM Shareholder Services
or
(781)-575-3990 for callers outside the continental United States
or
www.equiserve.com
General correspondence should be mailed to:
Overnight Mail
EquiServe EquiServe
General Motors Corporation General Motors Corporation
P.O. Box 8036 150 Royall St.
Boston, MA 02266-8036 Canton, MA 02021-1031
Attn: Shareholder Services
Optional Cash Investments should be mailed to:
EquiServe Send check or money order payable
General Motors Corporation to BankBoston, N.A.
P.O. Box 370042
` Boston, MA 02241-0742
Include your account number on all correspondence, checks, or money orders
together with a telephone number where you can be reached during business hours.
It is your responsibility to always maintain a current address with EquiServe.
