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GENERAL MOTORS DIVIDEND ANNOUNCEMENT

 GENERAL MOTORS DIVIDEND ANNOUNCEMENT
 NEW YORK, Nov. 2 /PRNewswire/ -- The General Motors Board of


Directors approved a reduction in the quarterly dividend on GM $1-2/3 par value common stock to $0.20 per share from the quarterly rate of $0.40 per share established in the first quarter of 1991. The Board also declared dividends of $0.09 per share on Class E common stock and $0.18 per share on Class H common stock. All three common stock dividends are payable Dec. 10, 1992 to holders of record Nov. 12, 1992.
 In announcing the decision to reduce the dividend, it was indicated that GM has made substantial progress in 1992 toward achieving its cost reduction goals established earlier this year. In addition, significant recent actions, including the acceleration of employment reductions and car platform consolidations, have been taken to reduce costs. However, the outlook for economic and market conditions in both North America and Europe is highly uncertain, and there is a risk that vehicle sales will not exhibit the improvement previously anticipated. Recognizing this risk, and the critical importance of continuing capital investments in GM's product program, the Board concluded that it is in the long-term interest of the stockholders to reduce the level of the dividend at this time.
 The Board is confident that GM's plans to restore the competitiveness of GM's North American automotive operations will succeed. The Board expects that this success, along with an improvement in market conditions, will support a restoration of the dividend to higher levels over the longer term.
 The Board also declared quarterly dividends of $1.25 per share on $5.00 series preferred stock; $0.9375 per share on $3.75 series preferred stock; $0.570313 per Series B depositary share; $0.8125 per Series C depositary share; $0.495 per Series D depositary share; and $0.715 per share on Series E-I preference stock. Dividends on all of these stocks are payable Feb. 1, 1993 to stockholders of record on Jan. 4, 1993.
 Record holders of GM's Preference Equity Redemption Cumulative Stock (PERCS) on Nov. 12, 1992 will receive $0.8275 per share on Dec. 1, 1992.
 In addition, the Board approved the exchange of all outstanding shares of Series E-II and E-III preference stock, currently held by the GM pension plans, for the underlying Class E shares. The decision to exchange the securities was made on behalf of the plans by an independent investment manager who will continue to have investment responsibilities for the newly-issued Class E shares. This exchange will not have any dilutive impact on Class E earnings because the Class E shares underlying the preference stock were previously included in Class E earnings-per-share calculations.
 -0- 11/2/92
 /CONTACT: Bill Winters of General Motors, 212-418-6380/
 (GM) CO: General Motors Corporation ST: New York IN: AUT SU: DIV


LR -- NY072 -- 1691 11/02/92 14:46 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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