| Bond Guide Corporate Bonds | January 2005

Company Name
General Motors Corp.

| Fixed Charge Coverage
--- | ---
Industry | 2003 | 2002 | 2001 | Year End
Auto/Truck mfrs | 1.31 | 1.19 | 1.18 | December

Company Financials
Cash& Equiv. ($ Mil) | Curr. Assets ($ Mil) | Curr. Liabils. ($ Mil) | Balance Sheet Date | L/Term Debt ($ Mil) | Capitalization ($ Mil) | Total Debt % Capital
--- | --- | --- | --- | --- | --- | ---
2628 | 4844 | 2326 | 09-30-2004 | 290921 | 319070 | 91.2

| Bond Issue Statistics
--- | ---
Issue | Int. Dates | Exchange | S&P Debt Rating | Last Rtg. Chg. | Prior Rating
Deb 7.70s 2016 | Ao15 |  | BBB- | 10/2004 | BBB
Deb 9.40s 2021 | jJ15 |  | BBB- | 10/2004 | BBB
Deb2 8 1/4s 2023 | jJ15 |  | BBB- | 10/2004 | BBB
Deb 8.10s 2024 | Jd15 |  | BBB- | 10/2004 | BBB
Deb 7.40s 2025 | mS |  | BBB- | 10/2004 | BBB
Deb3 6 3/4s 2028 | Mn |  | BBB- | 10/2004 | BBB
Deb2 8 3/8s 2033 | jJ15 |  | BBB- | 10/2004 | BBB
Disc Deb4 7 3/4s 2036 | Ms15 |  | BBB- | 10/2004 | BBB
Nts 7.10s 2006 | Ms15 |  | BBB- | 10/2004 | BBB
Nts2 7.20s 2011 | Jj15 |  | BBB- | 10/2004 | BBB
Sr Nts 7 1/8s 2013 | jJ15 |  | BBB- | 10/2004 | BBB
Nts 8.80s 2021 | Ms |  | BBB- | 10/2004 | BBB
Nts3 7 3/8s 2048 | QMay23 |  | BBB- | 10/2004 | BBB

| Bond Issue Statistics
--- | ---
Issue | Bond Form | Amnt Out. ($ Mil) | Curr. Yld% | Yld. to matur.% | Eligibility for Bank Purchase
Deb 7.70s 2016 | Book-Entry | 500 | 7.33 | 7.05 | Eligible
Deb 9.40s 2021 | Book-Entry | 300 | 8.33 | 7.98 | Eligible
Deb2 8 1/4s 2023 | Book-Entry | 1250 | 7.92 | 7.82 | Eligible
Deb 8.10s 2024 | Book-Entry | 400 | 7.73 | 7.63 | Eligible
Deb 7.40s 2025 | Book-Entry | 500 | 7.44 | 7.45 | Eligible
Deb3 6 3/4s 2028 | Book-Entry | 600 | 7.12 | 7.21 | Eligible
Deb2 8 3/8s 2033 | Book-Entry | 3000 | 8.08 | 8.05 | Eligible
Disc Deb4 7 3/4s 2036 | Book-Entry | 3775 |  | Flat | Eligible
Nts 7.10s 2006 | Book-Entry | 292 | 6.92 | 4.84 | Eligible
Nts2 7.20s 2011 | Book-Entry | 1500 | 7.02 | 6.68 | Eligible
Sr Nts 7 1/8s 2013 | Book-Entry | 1000 | 6.96 | 6.76 | Eligible
Nts 8.80s 2021 | Book-Entry | 524 | 8.13 | 7.89 | Eligible
Nts3 7 3/8s 2048 | Book-Entry | 425 | 7.64 | 7.65 | Eligible

| Bond Price | Redemption Provisions
--- | --- | ---
Issue | Price Range 2004 | Mo. End Prc. Sales(s) or Bid | _____ Regular ______
High | Low | Price | (begins)Thru
Deb 7.70s 2016 | 115.49 | 102.64 | 104.98 | NC |
Deb 9.40s 2021 | 123.42 | 109.46 | 112.90 | NC |
Deb2 8 1/4s 2023 | 115.41 | 100.94 | 104.16 | C1006 |
Deb 8.10s 2024 | 109.15 | 97.02 | 104.74 | 103.09 | (6-15-2008)
Deb 7.40s 2025 | 106.03 | 92.83 | 99.46 | NC |
Deb3 6 3/4s 2028 | 99.75 | 88.68 | 94.82 | NC |
Deb2 8 3/8s 2033 | 118.63 | 101.68 | 103.60 | C1006 |
Disc Deb4 7 3/4s 2036 | 43.43 | 34.62 | 41.42 | NC |
Nts 7.10s 2006 | 108.29 | 102.59 | 102.60 | NC |
Nts2 7.20s 2011 | 111.34 | 102.41 | 102.56 | C1006 |
Sr Nts 7 1/8s 2013 | 111.35 | 100.68 | 102.33 | C1007 |
Nts 8.80s 2021 | 120.15 | 105.68 | 108.21 | NC |
Nts3 7 3/8s 2048 | 100.70 | 90.42 | 96.50 | C1006 |

| Redemption Provisions
--- | ---
Issue | _____ Sinking Fund _____ | Refund/Other Restrict.
Price | (begins)Thru | Price | (begins)Thru
Deb 7.70s 2016 |  |  |  |
Deb 9.40s 2021 |  |  |  |
Deb2 8 1/4s 2023 |  |  |  |
Deb 8.10s 2024 |  |  |  |
Deb 7.40s 2025 |  |  |  |
Deb3 6 3/4s 2028 |  |  |  |
Deb2 8 3/8s 2033 |  |  |  |
Disc Deb4 7 3/4s 2036 |  |  |  |
Nts 7.10s 2006 |  |  |  |
Nts2 7.20s 2011 |  |  |  |
Sr Nts 7 1/8s 2013 |  |  |  |
Nts 8.80s 2021 |  |  |  |
Nts3 7 3/8s 2048 |  |  |  |

| Underwriter
--- | ---
Issue | Firm | Year
Deb 7.70s 2016 | Morgan (J. P.) Securities, N.Y.(212) 483-2323 | '96
Deb 9.40s 2021 | Merrill Lynch Capital Mkts, N.Y.(212) 449-1000 | '91
Deb2 8 1/4s 2023 |  | 2003
Deb 8.10s 2024 | Lehman Bros., N.Y.(212) 526-2001 | '96
Deb 7.40s 2025 | Salomon Bros. Inc. (Now Salomon Smith Barney) | '95
Deb3 6 3/4s 2028 | Bear, Stearns & Co., N.Y.(212) 272-2000 | '98
Deb2 8 3/8s 2033 |  | 2003
Disc Deb4 7 3/4s 2036 | Morgan Stanley & Co. (Now Morgan Stanley Dean Witter) | '96
Nts 7.10s 2006 | Morgan Stanley & Co. (Now Morgan Stanley Dean Witter) | '96
Nts2 7.20s 2011 |  | 2001
Sr Nts 7 1/8s 2013 |  | 2003
Nts 8.80s 2021 | Merrill Lynch Capital Mkts, N.Y.(212) 449-1000 | '91
Nts3 7 3/8s 2048 | Merrill Lynch Capital Mkts, N.Y.(212) 449-1000 | 2003

Footnotes:

    1     Total issue amt.
    2     Co may red in whole, at 100, for tax law chge.
    3     Co may red in whole,at 100,for tax law chge.
    4     Int accrues at 7.75% fr 3-15-16.
    5     Incl disc.
    6     Plus Make-Whole Amt.
    7     Red at greater of 100 or amt based on formula.
    C     Callable re specified conditions

This report is for informational purposes and should not be considered a solicitation to buy or sell any security. Neither Merrill Lynch nor S&P guarantee its accuracy or make any warranties regarding results from its usage. Redistribution is prohibited without written permission from S&P. Copyright © 1999 Standard & Poor's Inc.