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.October 29, 2003
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This Week:

• Nissan : The design transcends time and space to blend Edo's traditional arts and crafts with advanced styling

• Fiat and General Motors Announce Agreements Relating to Their Strategic Alliance

• GM Debuts New HUMMER, SEMA Vehicles, Accessories At 2003 SEMA Show

• Chrysler Group Announces New Appointments in Product Development

• Renault Mégane - A 100bhp version of the 1.5 dCi engine puts the pressure on …

• Toyota Announces Pricing for All-New 2004 Tundra Double Cab Pickup

• New General Motors Study Shows Daytime Running Lamps Continue To Reduce Crashes

• Ford's Haren Gandhi Awarded National Medal Of Technology For Catalyst Research

• BMW X5 for 2004

• Golf demonstrates fuel saving potential

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Fiat and General Motors Announce Agreements Relating to Their Strategic Alliance
 

DETROIT/TURIN- Fiat S.p.A. and General Motors Corp. announced certain agreements relating to their ongoing strategic alliance. The first agreement shifts the put period by one year, from January 24, 2004 to July 24, 2009 of the Master Agreement, to January 24, 2005 to July 24, 2010. The second agreement precludes the parties from initiating legal proceedings relating to the Master Agreement until December 15, 2004, while preserving their respective rights. General Motors and Fiat continue to believe that the joint ventures between Fiat Auto and General Motors are working well, generating synergies, and that both parties would like to see expanded cooperation.

General Motors has alleged that the sale of certain assets of the retail financing business of Fiat Auto and the capital increase of Fiat Auto Holdings, carried out by Fiat, constitute breaches of the Master Agreement entitling General Motors to terminate the Master Agreement and with it the put option.

Fiat contends that both of these transactions were wholly proper and did not violate the Master Agreement or any of General Motors' rights. Fiat regards the put option as effective and exercisable in accordance with the provisions of the Master Agreement.

The Amendment and the Standstill Agreements have been executed in the context of ongoing discussions between Fiat and General Motors regarding the re-defining of the structure of the strategic alliance in order to permit their industrial cooperation to continue constructively and resolve both parties' concerns.

The Board of Directors of Fiat S.p.A., chaired by Mr. Umberto Agnelli, has authorized today the entering into the above mentioned agreements. The text of both agreements and of the Master Agreement are available on www.fiatgroup.com and http://media.gm.com.

(October 26, 2003)