1072342--3/3/2009--DELPHI

related topics

{capital, credit, financial}

{operation, international, foreign}

{condition, economic, financial}

{cost, regulation, environmental}

{tax, income, asset}

{property, intellectual, protect}

{acquisition, growth, future}

{cost, operation, labor}

{cost, contract, operation}

{product, market, service}

{product, candidate, development}

{competitive, industry, competition}

{regulation, government, change}

{personnel, key, retain}

{control, financial, internal}

{debt, indebtedness, cash}

We Anticipate the Need for Significant Borrowings Even After Emergence From Chapter 11 as We Complete Our Transformation Plan. The Significant Contraction of Credit Availability as a Result of the Current Difficult and Turbulent Capital Markets May Adversely Impact Our Ability to Obtain Exit Financing as Contemplated by a Modified Plan. Our Ability to Utilize Our Net Operating Loss Carryforwards and Other Tax Attributes Will Be Limited. Access to Continued Financing and Liquidity Support Business Environment and Economic Conditions The Cyclical Nature of Automotive Sales and Production Can Adversely Affect Our Business. Any Changes in Consumer Credit Availability, or Cost of Borrowing Could Adversely Affect our Business Drop in the Market Share and Changes in Product Mix Offered by Our Customers Can Impact Our Revenues. We Depend on General Motors Corporation as a Customer and on GM s Support, as Provided in the Amended MRA and Advance Agreement, to Continue Executing Our Transformation Plan. Accordingly, Our Revenues and Profitability Will Be Adversely Impacted if GM s Business or Market Share Declines, and Our Ability to Successfully Complete Our Transformation Plan Will Be Delayed or Impaired if GM Is Unable to Continue Providing Support on the Terms Agreed to. We Have Invested Substantial Resources in Markets Where We Expect Growth and We May Be Unable to Timely Alter Our Strategies Should Such Expectations Not Be Realized. Continued Pricing Pressures, VM Cost Reduction Initiatives and Ability of VMs to Resource or Cancel Vehicle Programs May Result in Lower Than Anticipated Margins, or Losses, Which May Have a Significant Negative Impact on Our Business. We Operate in the Highly Competitive Automotive Supply Industry. Certain Disruptions in the Supply of and Changes in the Competitive Environment for Raw Materials Integral to Our Products May Adversely Affect Our Profitability. We May Not Be Able to Respond Quickly Enough to Changes in Technology and Technological Risks, and to Develop Our Intellectual Property into Commercially Viable Products. We May Not Succeed in Our Attempts to Improve Our Cost Structure and Absent Significant Improvement, if a Modified Plan of Reorganization is Not Consummated We May Be Unable to Generate Sufficient Excess Cash Flow to Meet Increased U.S. Pension Funding Obligations Upon Emergence. We May Suffer Future Asset Impairment and Other Restructuring Charges, Including Write Downs of Goodwill or Intangible Assets. Employee Strikes and Labor Related Disruptions May Adversely Affect Our Operations. Labor Related Disruptions at Our Customers or Other Suppliers May Adversely Affect Our Operations. We May Lose or Fail to Attract and Retain Key Salaried Employees and Management Personnel. Our Substantial Global Operations Mean We are Exposed to Foreign Currency Fluctuations Which May Affect Our Financial Results. We Face Risks Associated With Doing Business in non-U.S. Jurisdictions. We May Incur Material Losses and Costs as a Result of Warranty Claims and Product Liability and Intellectual Property Infringement Actions That May Be Brought Against Us. Incurrence of Significant Legal Costs May Adversely Affect Our Profitability. We May Identify the Need for Additional Environmental Remediation or Demolition Obligations Relating to Transformation Activities. Failure to Maintain Effective Internal Controls in Accordance With Section 404 of the Sarbanes-Oxley Act of 2002 Could Have a Material Effect on Our Business.

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1072342--3/3/2009--DELPHI_CORP