Bankruptcy

Affiliate of GM To Participate In Up To $2 Billion First Lien Term Note In Accord With Bankruptcy Court Guidance Regarding Company's Pursuit of Exit Financing

Delphi Files Motion To Request Hearing With The Bankruptcy Court

October 16, 2007, TROY, MICH. -- Delphi Corporation (PINKSHEETS: DPHIQ) has entered into a master sale and purchase agreement with a wholly owned subsidiary of The Renco Group, Inc. for the sale of its global Interiors and Closures business, company officials announced today. The agreement has been approved by Delphi's Board of Directors.

Pursuant to the procedures outlined in the Bankruptcy Code, Delphi filed a motion with the U.S. Bankruptcy Court for the Southern District of New York to request a bidding procedures hearing on October 25, 2007.