The DIP Accommodation Agreement, an agreement between Delphi and certainlenders that constitute greater than a majority of holders by amount ofDelphi's two most senior tranches of its DIP Credit Facility, providesDelphi the authority to continue use of the proceeds from its DIP CreditFacility through June 30, 2009.

"The provisions of the Accommodation Agreement (together with otheragreements achieved during these Chapter 11 cases) serve to providesubstantial assurance to our stakeholders of our continued access toliquidity to fund our operations and facilitate our efforts to satisfyemergence capital funding needs as contemplated under the Modified Plan,"said John Sheehan, Delphi vice-president and chief financial officer.

The agreement reflects the support of the administrative agent and theRequired Lenders for Delphi's transformation efforts, despite the currenteconomic downturn and the unprecedented turmoil in the capital markets.

ABOUT DELPHI'S CHAPTER 11 CASE

Delphi's Chapter 11 cases were filed on Oct. 8, 2005, in the United StatesBankruptcy Court for the Southern District of New York and were assigned tothe Honorable Robert D. Drain under lead case number 05-44481 (RDD).

More information on Delphi's U.S. restructuring and access to courtdocuments is available at www.delphidocket.com.

Information on the case can also be obtained on the Bankruptcy Court'swebsite with Pacer registration: http://www.nysb.uscourts.gov. For moreinformation about Delphi and its operating subsidiaries, visit Delphi'swebsite at www.delphi.com.

FORWARD-LOOKING STATEMENTS

This press release as well as other statements made by Delphi may containforward-looking statements that reflect, when made, the Company's currentviews with respect to current events and financial performance. Suchforward-looking statements are and will be, as the case may be, subject tomany risks, uncertainties and factors relating to the Company's operationsand business environment which may cause the actual results of the Companyto be materially different from any future results, express or implied, bysuch forward-looking statements. In some cases, you can identify thesestatements by forward-looking words such as "may," "might," "will,""should," "expects," "plans," "anticipates," "believes," "estimates,""predicts," "potential" or "continue," the negative of these terms andother comparable terminology. Factors that could cause actual results todiffer materially from these forward-looking statements include, but arenot limited to, the following: the ability of the Company to continue as agoing concern; the ability of the Company to operate pursuant to the termsof the debtor-in-possession financing facility, its advance agreement withGM, to obtain an extension of term or other amendments as necessary tomaintain access to such facility and advance agreement, including thecontemplated accommodation agreement, extension of the advance agreementwith GM, and partial temporary accelerated payment agreement; the Company'sability to obtain Court approval with respect to motions in the chapter 11cases prosecuted by it from time to time; the ability of the Company toachieve all of the conditions to the effectiveness of those portions of theAmended and Restated Global Settlement Agreement and Amended and RestatedMaster Restructuring Agreement with GM which are contingent on Delphi'semergence from chapter 11; the ability of the Company to obtain Courtapproval to modify its amended plan of reorganization which was confirmedby 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 tothe confirmed plan or any other subsequently confirmed plan ofreorganization and to consummate such plan; risks associated with thirdparties seeking and obtaining Court approval to terminate or shorten theexclusivity period for the Company to propose and confirm one or more plansof reorganization, for the appointment of a chapter 11 trustee or toconvert the cases to chapter 7 cases; the ability of the Company to obtainand maintain normal terms with vendors and service providers; the Company'sability to maintain contracts that are critical to its operations; thepotential adverse impact of the chapter 11 cases on the Company's liquidityor results of operations; the ability of the Company to fund and executeits business plan as described in the proposed modifications to its plan ofreorganization as filed with the Court and to do so in a timely manner; theability of the Company to attract, motivate and/or retain key executivesand associates; the ability of the Company to avoid or continue to operateduring a strike, or partial work stoppage or slow down by any of itsunionized employees or those of its principal customers and the ability ofthe Company to attract and retain customers. Additional factors that couldaffect future results are identified in the Annual Report on Form 10-K forthe year ended December 31, 2007 filed with the SEC, including the riskfactors in Part I. Item 1A. Risk Factors, contained therein, and theCompany's quarterly periodic reports for the subsequent periods, includingthe risk factors in Part II. Item 1A. Risk Factors, contained therein,filed with the SEC. Delphi disclaims any intention or obligation to updateor revise any forward-looking statements, whether as a result of newinformation, future events and/or otherwise. Similarly, these and otherfactors, including the terms of any reorganization plan ultimatelyconfirmed, can affect the value of the Company's various prepetitionliabilities, common stock and/or other equity securities.

MEDIA CONTACT:Lindsey Williams248.813.2528INVESTOR CONTACT:Al VanDenBergh248.813.3342