SOURCE: Delphi Product & Service Solutions

October 30, 2007 12:00 ET

Delphi Continues Winning Relationship With Hendrick Motorsports

Primary Sponsor for Four Nationwide Races With Dale Earnhardt Jr. and Mark Martin

TROY, MI--(Marketwire - October 30, 2007) - Delphi Product & Service Solutions (PINKSHEETS: DPHIQ) announced today at a press conference held at the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas that it will continue its major associate sponsorship of Hendrick Motorsports during the 2008 NASCAR season.

An associate sponsor of all of the 2008 Hendrick Motorsports entries, Delphi will also be the primary sponsor for the No. 5 NASCAR Nationwide Series Chevrolet fielded by JR Motorsports for four races. In addition, Delphi will receive preferred logo placement on the No. 5 Sprint Cup Series car driven by Casey Mears at Las Vegas, Indianapolis and the second Texas race.

Hendrick newcomer Dale Earnhardt Jr. will drive the No. 5 Delphi Chevrolet in the Nationwide Series at Alabama's Talladega Superspeedway in April and Daytona International Speedway in July. Mark Martin will drive the other two races for Delphi -- at Las Vegas Motor Speedway in March and Texas Motor Speedway in November.

"Delphi is proud to continue our great association with Hendrick Motorsports for the 2008 NASCAR season," says Francisco A. (Frank) Ordoñez, president, Delphi Product & Service Solutions, and vice president, Delphi Corp. "We are very excited to welcome Dale Earnhardt Jr. and Mark Martin to the Delphi family, and look forward to another winning year with the entire Hendrick team.

"Hendrick Motorsports drivers have 165 Sprint Cup victories and 76 Nationwide Series wins, not to mention seven NASCAR championships, and it is great to be a part of their future success."

Earnhardt will be Hendrick Motorsports' newest driver for the 2008 season, joining 2006 champion Jimmie Johnson, four-time Cup champion Jeff Gordon and race winner Casey Mears. Delphi will continue to be featured on the uniforms of all of the Hendrick drivers.

"We have had a tremendous relationship with Delphi over the past seven years," says Rick Hendrick, owner of Hendrick Motorsports. "This association has been extremely important to our organization, especially from a technology standpoint, and we look forward to having Delphi continue as a key partner in 2008."

For more information about Delphi's involvement in motorsports, please visit or for more information about Delphi, visit


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 to obtain an extension of term or other amendments as necessary to maintain access to such facility; the terms of any reorganization plan ultimately confirmed; 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 prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; the Company's ability to satisfy the terms and conditions of the EPCA; 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 (including the transformation plan described in Note 2. Transformation Plan and Chapter 11 Bankruptcy, to the consolidated financial statements) 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 Company's Annual Report on Form 10-K for the year ended December 31, 2006, 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. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy cases to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interest and cancellation of their interests. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have little or no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to prepetition liabilities.

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