SOURCE: Delphi Product & Service Solutions

November 04, 2008 12:30 ET

Delphi Continues Winning Relationship With Hendrick Motorsports & JR Motorsports

Primary Sponsor for Seven Nationwide Races With Tony Stewart and Brad Keselowski

LAS VEGAS, NV--(Marketwire - November 4, 2008) - Delphi (PINKSHEETS: DPHIQ) announced today that it will continue its major associate sponsorship of Hendrick Motorsports during the 2009 NASCAR Sprint Cup Series season. In addition, Delphi will be the primary sponsor for seven NASCAR Nationwide Series races with JR Motorsports next year. The announcement was made at a press conference held at the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas.

Delphi will be the primary sponsor for one Nationwide Series race with driver Tony Stewart in the No. 5 Delphi Chevrolet fielded by JR Motorsports. Additionally, Delphi will be the primary sponsor for Brad Keselowski in the JR Motorsports No. 88 Chevrolet for six Nationwide races in 2009. The race details will be announced in the near future. Delphi also will be an associate sponsor of all 2008 Hendrick Motorsports 2009 Spring Cup entries.

"Hendrick Motorsports is one of the top teams in one of the most popular sports in the United States, and we look forward to another winning year with the entire Hendrick team," says Francisco A. (Frank) Ordoñez, president, Delphi Product & Service Solutions, and vice president, Delphi Corp. "We are very excited to welcome Tony Stewart and Brad Keselowski to the Delphi family. We plan to build upon our successful 2008 season with JR Motorsports and Hendrick, which included a great win by Mark Martin at Las Vegas Motor Speedway."

Delphi will continue to be featured on the uniforms of all Hendrick Motorsports drivers for the 2009 season, including four-time Sprint Cup Champion Jeff Gordon, two-time defending Sprint Cup Champion Jimmie Johnson, Dale Earnhardt Jr. and Mark Martin.

"Our long-standing association with Delphi has been unbelievable," says Rick Hendrick, owner of Hendrick Motorsports. "The relationship has been immeasurably important to our company from both a quality and technology standpoint, and we look forward to having Delphi continue as a key partner for the 2009 season."

For more information about Delphi's involvement in motorsports, visit www.delphi.com/about/motorsports. For more information about Delphi, visit Delphi's media room at www.delphi.com/media.

FORWARD-LOOKING STATEMENTS

This press release as well as other statements made by Delphi may contain forward-looking statements that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession financing facility and its advance agreement with GM, to obtain an extension of term or other amendments as necessary to maintain access to such facility and advance agreement; the Company's ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to achieve all of the conditions to the effectiveness of those portions of the Amended and Restated Global Settlement Agreement and Amended and Restated Master Restructuring Agreement with General Motors which are contingent on Delphi's emergence from chapter 11; the ability of the Company to obtain court approval to modify its amended plan of reorganization which was confirmed by the Court on January 25, 2008 as set forth in its filing on October 3, 2008 and to confirm such modified plan or any subsequent modifications to the confirmed plan or any other subsequently confirmed plan of reorganization and to consummate such plan; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company's liquidity or results of operations; the ability of the Company to fund and execute its business plan as described in the proposed modifications to its plan of reorganization as filed with the court and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC, including the risk factors in Part I. Item 1A. Risk Factors, contained therein, and the Company's quarterly periodic reports for the subsequent periods, including the risk factors in Part II. Item 1A. Risk Factors, contained therein, filed with the SEC. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company's various prepetition liabilities, common stock and/or other equity securities.