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FOR RELEASE: February 28, 2003

GM Thanks Its Loyal Owners A Thousand Times

$3,000 Total Cash Available For Current GM Owners


DETROIT - General Motors Corp. today announced its latest retail marketing program. GM will reward its owners with $1,000 loyalty cash toward the purchase or lease of any '02 or '03 model vehicle (Excluding HUMMER), effective March 1 through March 31.

In addition, GM will offer customer cash rebates of $2,000 on most Buick, Chevrolet, GMC, Oldsmobile and Pontiac 2003 models, making $3,000 cash available for current GM owners. GM will also offer 0.0% APR finance rates for qualified buyers on most '03 passenger car and truck models. Excluded from this portion of the program are Cadillac, HUMMER, Saab and Chevrolet Corvette.

These exciting new offers can also be combined with GM's current lease pull-ahead program* and the GM Card Program.**

"It's a great time to purchase a GM vehicle," said John Smith, group vice president of GM North America Vehicle Sales, Service and Marketing. "Our truck lineup is the best in the industry, we are bringing out more new cars than at anytime in our history, and we have the highest industry loyalty ratings from R.L. Polk for three years running. Our new marketing program rewards our loyal GM customers, and provides flexibility and affordability for any consumer shopping for a new GM vehicle."

National print advertising for the new program will begin on Saturday, March 1, with ads running in top markets around the country. (See attached ad)

Following are terms for GM's 2003 Models (for qualified buyers)
(March 1 through March 31, 2003):

0.0/1.9/2.9% 36/48/60 or$2,000 cash
Buick Century
Buick LeSabre
Buick Park Avenue
Buick Regal
Buick Rendezvous
Chevrolet Astro
Chevrolet Blazer
Chevrolet Express
Chevrolet Impala
Chevrolet Malibu
Chevrolet Monte Carlo
Chevrolet Silverado
Chevrolet Suburban
Chevrolet Tahoe
Chevrolet TrailBlazer
Chevrolet TrailBlazer EXT
Chevrolet Venture
0.0/1.9/2.9% 36/48/60 or$2,000 cash
GMC Envoy
GMC Envoy XL
GMC Safari
GMC Savana
GMC Sierra
GMC Yukon
GMC Yukon XL
Oldsmobile Alero
Oldsmobile Aurora
Oldsmobile Bravada
Oldsmobile Silhouette
Pontiac Aztek
Pontiac Bonneville
Pontiac Grand Am
Pontiac Grand Prix
Pontiac Montana
C4500 (Topkick and Kodiak)
0.0/0.0/0.0/1.9% 36/48/60/72 or $2,000 cash
Chevrolet Cavalier
Chevrolet S-10 Pickup
GMC Sonoma
Pontiac Sunfire
Pontiac Vibe

0.0/0.0/0.0% 36/48/60 or $3,000 cash
Saturn L-Series

0.0/0.0/0.0/1.9% 36/48/60/72or $2,000 cash
Saturn ION

0.0/0.0/0.0% 36/48/60 or $2,000 cash
Saturn VUE

$1,000 loyalty for GM owners purchasing or leasing a new GM vehicle. (Excludes HUMMER)

* Runs through March 31, 2003 for customers whose leases expire between April 1 and August 31

** Must be an eligible GM Card cardholder

0.0/0.0/0.0/1.9% 36/48/60/72or $3,000 cash
Chevrolet Tracker

0.0/1.9/2.9% 36/48/60 or$3,000 cash
Chevrolet Avalanche

1.9/2.9/3.9% 36/48/60
Cadillac CTS
Cadillac Escalade
Cadillac Escalade ESV
Cadillac Escalade EXT

5.9/5.9/5.9% 36/48/60
Cadillac DeVille
Cadillac Seville

Note: GM sales and production results are available on GM Media OnLine at http://media.gm.com by clicking on News, then Sales/Production. In this press release and related comments by General Motors management, our use of the words "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions is intended to identify forward looking statements. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, actual results may differ materially due to numerous important factors that are described in GM's most recent report on SEC Form 10-K (at page 11-15, 16) which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. Such factors include, among others, the following: changes in economic conditions, currency exchange rates or political stability; shortages of fuel, labor strikes or work stoppages; market acceptance of the corporation's new products; significant changes in the competitive environment; changes in laws, regulations and tax rates; and, the ability of the corporation to achieve reductions in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and times planned by management.


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