40729--3/28/2006--GENERAL_MOTORS_ACCEPTANCE

related topics

{condition, economic, financial}

{operation, international, foreign}

{debt, indebtedness, cash}

{competitive, industry, competition}

higher levels could have a material adverse effect on our business. The profitability and financial condition of our operations are dependent upon the operations of our parent, General Motors. As a wholly owned subsidiary of GM, we are jointly and severally responsible with GM and its other subsidiaries for funding obligations under GM s and its subsidiaries qualified U.S. defined benefit pension plans. Our financial condition and our ability to repay unsecured debt could be impaired if we were required to pay significant funding obligations for the GM plans. Our earnings may decrease because of increases or decreases in interest rates. Our business outside the United States exposes us to additional risks that may cause our revenues and profitability to decline. Fluctuations in valuation of investment securities or significant fluctuations in investment market prices could negatively affect revenues. The regulatory environment in which we operate could have a material adverse effect on our business and earnings.

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40729--3/28/2006--GENERAL_MOTORS_ACCEPTANCE_CORP