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Financial Highlights Management’s Discussion
and Analysis Reports of Management
and Independent Auditors Consolidated Financial Statements Notes to Consolidated
Financial Statements Supplementary Information
Corporate and
Social Responsibility Board of Directors Senior Leaders General Information
Reports of Management and Independent Auditors

The Consolidated Financial Statements, Financial Highlights, and Management’s Discussion and Analysis of Financial Condition and Results of Operations of General Motors Corporation and subsidiaries were prepared by management, who is responsible for their integrity and objectivity. Where applicable, this financial information has been prepared in conformity with the Securities Exchange Act of 1934, as amended, and accounting principles generally accepted in the United States of America. The preparation of this financial information requires the use of estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. The significant accounting policies that may involve a higher degree of judgments, estimates, and complexity are included in Management’s Discussion and Analysis.

Deloitte & Touche LLP, an independent auditing firm, has audited the consolidated financial statements of General Motors and subsidiaries; its report is included herein. The audit was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States).

The Board of Directors, through the Audit Committee (composed entirely of independent directors), is responsible for overseeing management’s fulfillment of its responsibilities in the preparation of the consolidated financial statements. The Audit Committee annually recommends to the Board of Directors the selection of the independent auditors in advance of the Annual Meeting of Stockholders and submits the selection for ratification at the Meeting. In addition, the Audit Committee reviews the scope of the audits and the accounting principles being applied in financial reporting. The independent auditors, representatives of management, and the internal auditors meet regularly (separately and jointly) with the Audit Committee to review the activities of each, and to ensure that each is properly discharging its responsibilities. To reinforce complete independence, Deloitte & Touche LLP has full and free access to meet with the Audit Committee without management representatives present, to discuss the result of the audit, the adequacy of internal control, and the quality of financial reporting.

General Motors has adopted a code of ethics that applies to its directors, officers, and employees, including the Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, and any other persons performing similar functions. The text of GM’s code of ethics, “Winning With Integrity,” has been posted on the Corporation’s Internet website at http://investor.gm.com at “Investor Information – Corporate Governance.”

GM submitted a Section 12(a) Certification executed by GM’s Chairman and Chief Executive Officer to the New York Stock Exchange in 2004.

GM filed certifications executed by GM’s Chairman and Chief Executive Officer and Vice Chairman and Chief Financial Officer with the U.S. Securities and Exchange Commission pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 as exhibits to the Annual Report on Form 10-K for the year ended December 31, 2004.