Ferrari 599 GTB Driving Experience Boosted by Delphi Technology

Supplier’s advanced electrical, climate control and controlled suspension systems at heart of 599 GTB.

March 1, 2006, MARANELLO, Italy -- Delphi Corp. is supplying key systems to Ferrari’s newest luxury vehicle, the 599 GTB (Gran Turismo Berlinetta), the Italian automaker’s replacement to the 575 Maranello.

The new 2007 model, Ferrari’s most powerful V-12 engine production car of all time, was officially unveiled this week at the Geneva Motor Show. Delphi is supplying the complete climate control system and MagneRide controlled suspension technology, as well as the electrical/electronic (E/E) system including electrical centers, to this stylish luxury touring model.

“A high-performance vehicle demands the latest technology,” said Volker Barth, president, Delphi Europe. “Delphi is proud to be supplying Ferrari with some of our most innovative products. Our goal is to help enhance the driving experience for Ferrari drivers. They want a ride-and-handling performance without compromise, and they want to be surrounded in a comfortable environment in the cockpit. Our technologies help contribute toward these characteristics.”

Delphi has been supplying climate control technology to Ferrari since 1992, and is responsible for the climate control systems on all of Ferrari’s current model programs.

To meet the challenging comfort demands of this luxury sports car, Delphi engineers worked closely with Ferrari to co-design the 599’s climate control system. Production of the heating, ventilation and air conditioning (HVAC) module for the 599 began in February 2006.

Delphi has made significant improvements for the new 599 dual-zone climate control system. It is managed by an electronic control unit and receives and processes data on external and internal temperature through newly enhanced software and a solar load sensor. Noteworthy system components include a carbon anti-pollution and anti-particle filter and a compact variable displacement compressor (7CVC) modified to meet the car’s high performance needs.

“Once again, Ferrari has put its confidence in Delphi and our Molinella, Italy, facility for their latest vehicle launch,” said Steven Kiefer, managing director, Delphi Thermal & Interior, Europe and South America. “Ferrari represents the highest standard in the sports car segment in terms of performance, quality, sophistication and prestige. Delphi is proud of our long-standing relationship with Ferrari, and we share their passion and commitment to excellence Ferrari owners have come to expect.”

Delphi’s long-running relationship with Ferrari also extends to its E/E distribution systems support, which also dates back to the early 1990s. “For many years Ferrari has collaborated with Delphi in developing and co-designing the most robust E/E systems and components, and similar to the previous programs on which we’ve worked together, the technology for the 599 meets the customer’s very high performance and quality demands,” said Stefaan Vandevelde, managing director of European operations for Delphi Packard Electric. He noted that the 599 marked the introduction of CAD CATIA design system usage between Delphi and Ferrari. “This allowed us the use of 3D virtual layout and brought advanced technical advantages and greater cost effectiveness, with the evaluation of different options best optimized for the vehicle’s architecture before the availability of the prototypes.”

Delphi’s approach to the new 599 GTB’s E/E architecture resulted in several unique design characteristics. For example, the electrical centers designed and produced by Delphi have been positioned in the cockpit, due to the lack of available space under the hood, taken up completely by Ferrari’s powerful 12-cylinder, 6.0L engine. Additionally, a new system was employed in the door-to-body electric connection to manage the side airbag function.

As announced during the Ferrari press conference at Geneva Motor Show, on Tuesday, February 28, 2006, the new Ferrari 599 includes Delphi’s revolutionary MagneRide Controlled Suspension System, which captures the “gran turismo” feeling of Ferrari’s legendary vehicles.

Using patented shock absorbers filled with a proprietary controllable fluid, the system offers increased damping tuning capability and speed of response over valve-based controlled suspension systems.

This means better transient handling  both for turn-in and yaw stability --and superior road isolation that will result in increased driver comfort. Drivers will also experience a more precise steering feel and control of the vehicle even at top speeds.

For more information about Delphi Corporation (OTC: DPHIQ), visit Delphi’s media room at www.delphi.com.

FORWARD LOOKING STATEMENT
This press release, as well as other statements made by Delphi may contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession (“DIP”) facility; the Company’s ability to obtain court approval with respect to motions in the chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; and the ability of the Company to attract and retain customers. Other risk factors are listed from time to time in the Company’s United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and its most recent quarterly report on Form 10-Q for the quarter ended September 30, 2005 and current reports on Form 8-K. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise.

Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi’s common stock receiving no distribution on account of their interest and cancellation of their interests. As described in the Company’s public statements in response to the request submitted to the United States Trustee for the appointment of a statutory equity committee, holders of Delphi’s common stock and other equity interests (such as options) should assume that they will not receive value as part of a plan of reorganization. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005 press release announcing the filing of its chapter 11 reorganization cases, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi’s common stock or other equity interests or any claims relating to prepetition liabilities.

Contact Information

Andrea Knapp

Delphi Corp.

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