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GM RELEASES 1992 PROXY STATEMENT

 GM RELEASES 1992 PROXY STATEMENT
 DETROIT, April 13 /PRNewswire/ -- General Motors (NYSE: GM) 1992


proxy statement asks for stockholder support of recommendations by the GM Board of Directors to re-elect the 15 standing members; approve the selection of Deloitte & Touche as auditors; authorize additional shares of Class E common stock; and adopt a revised GM Incentive Program. The proxy also recommends that they vote against seven other proposals -- five of which were rejected by stockholders in 1991.
 The proxy shows that 1991 compensation for Chairman Robert C. Stempel was about 31 percent lower than 1990, and 44 percent below the level in 1989. The reduced level of compensation for GM's entire officer group in 1991 reflected another year of declining business conditions and lower Corporate results. GM's Incentive and Compensation Committee, composed of outside members of the GM Board of Directors, eliminated annual incentives for most executives, including all executive officers, for the second consecutive year. The committee also eliminated any final awards for 1991 under provisions of GM's long-term Performance Achievement Plan (PAP).
 Using a revised and simplified reporting format, the proxy shows the following compensation data for the chairman:
 1991 Compensation
 Performance
 Annual Achievement Total
 Officer Salary Incentive Plan 1991
 R.C. Stempel $1,000,000 --- --- $1,000,000
 NOTE: Total 1990 compensation -- $1,444,000
 Total 1989 compensation -- $1,775,000
 Mr. Stempel was elected chairman effective Aug. 1, 1990, and has not been awarded a salary increase since that time. In comparing year-to- year data, it should be noted that compensation for 1990 includes the total value of PAP awards received that year; there was no final PAP award granted in 1989. The 1989 data include the total value of the annual incentive award granted for that year in the form of GM common stocks. There was no such award in 1990.
 In keeping with GM's intention to present the Incentive Program for stockholder approval every five years, the proxy outlines a revised program which contains minor modifications designed to continue the philosophy of linking GM executive compensation directly to stockholder interests by making all incentive awards dependent on Corporate, unit and individual performance -- and reinforcing that linkage by providing significant portions of the incentives in the form of stock.
 Proxies will be voted at GM's annual stockholder meeting scheduled to be held in Fort Wayne, Ind., at 9 a.m. EST on Friday, May 22, 1992.
 -0- 4/13/92
 /CONTACT: Terrence P. Sullivan, 313-556-2019, or William B. Winters, 212-418-6380, both of General Motors/
 (GM) CO: General Motors ST: Michigan IN: AUT SU:


JG -- DE015 -- 7823 04/13/92 13:49 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
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