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GENERAL MOTORS EXPANDS GM CARD OPERATION AND INTRODUCES NEW FINANCIAL VEHICLE IN THE UNITED KINGDOM

 DETROIT, Oct. 19 /PRNewswire/ -- General Motors Corporation (NYSE: GM) announced today that its GM Card operation has expanded overseas with the introduction of a GM Card designed to help sell vehicles from Vauxhall Motors Limited, GM's United Kingdom subsidiary. Issued as both a VISA and MasterCard starting in January, the GM Card will enable United Kingdom consumers to save hundreds, even thousands of British pounds toward the purchase of a Vauxhall car or van.
 The launch of the GM Card in the United Kingdom follows the success of similar products in the United States and Canada. To date, nearly 9 million U.S. and Canadian consumers carry the GM Card. More than 70,000 GM cars and trucks have been sold to cardholders who have turned in GM Card earnings.
 "Our plan has always been to introduce the GM Card wherever General Motors sells cars and trucks, and we are delighted to now offer such a value-added credit card to consumers in the United Kingdom," said Ronald N. Zebeck, managing director of credit card operations for General Motors Corporation. "We expect the GM Card to quickly become the card of choice among many U.K. credit card users."
 GM Card holders in the United Kingdom will be able to earn 5 percent from each credit card transaction, which will accrue in a special automotive rebate account. This rebate can add up to 500 pounds per year (approximately $755 in U.S. currency), 2,500 pounds over five years ($3,775 U.S. currency), toward the purchase of a Vauxhall car or van. The GM Card features no annual fee for at least the first year and a 19.9-percent interest rate -- compared to a U.K. credit card interest rate average of 23.2 percent. In addition, the GM Card features a balance transfer feature which provides cardholders the opportunity to earn a 5-percent rebate on money already spent.
 In the United Kingdom, the GM Card also has an exclusive feature that enables cardholders who drive company-owned vehicles to turn in their earned rebates for special vouchers, which will be accepted as cash for goods and services at select shops, hotels and restaurants to be named at a later date.
 The GM Card will be issued by HFC Bank, a subsidiary of Household International, which issues the GM Card in the United States.
 "We have been very pleased with the success of the GM Card in the United States and see our involvement in the GM Card's United Kingdom operation as a key to our worldwide growth," said Joseph W. Saunders, president of Household Credit Services Inc. "The GM Card is a first of its kind in the United Kingdom, and we too expect it to have a dramatic effect on the U.K. credit card and banking industries."
 -0- 10/19/93
 /CONTACT: John F. Maciarz of General Motors, 313-556-2034; or Joe St. Henry of DMB&B Public Relations, 313-258-8600, for GM Card/
 (GM)


CO: General Motors Corporation; GM Card ST: Michigan IN: AUT FIN SU:

SB -- DE004 -- 3739 10/19/93 08:20 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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