Michael J. Burns, president of General Motors Europe, today described GM’s
Daewoo Motor acquisition talks as ‘very undetermined’.

He was speaking at Automotive News Europe’s Congress in Prague in response
to a question about the possible purchase and how it would fit into GM’s alliance
strategy with other carmakers.

Negotiations on the assets of Daewoo Motor are currently taking place between
GM and Daewoo Motor’s major creditors.

He added that the discussions over the bankrupt carmaker are ‘far from over’
and that ‘a lot of hard work is still to be done’.

He was also asked for views on the position of Daewoo Motor in Poland but declined
to make any further comment.