Frequently Asked Questions (Delphi Settlement)

1. What is this case about?

A. On September 30, 2005, a 257-page Consolidated Securities Class Action Complaint (the "Complaint") was filed against Delphi, Delphi Trust I, Delphi Trust II, the Delphi Officer and Director Defendants, the Underwriter Defendants and the Non-Settling Defendants, alleging that these individuals and entities made false and misleading public statements and omitted material information about Delphi's finances in violation of the Securities Act of 1933 and the Securities Exchange Act of 1934 during the Class Period (March 7, 2000 to March 3, 2005, inclusive).

2. Why did I receive the Notice?

A. We have mailed copies of the Notice of Proposed Settlement with Certain Defendants, Motion for Attorneys' Fees and Reimbursement Hearing (the "Notice of Proposed Settlement") and a Proof of Claim form to all people who were identified to us by Delphi's Transfer Agent and by banks, brokerage firms and other Nominee purchasers as possibly having purchased Delphi Securities during the Class Period. The Notice of Proposed Settlement is to notify you of a proposed settlement that has been reached with Delphi, Delphi Trust I, Delphi Trust II, the Delphi Officer and Director Defendants, and the Underwriter Defendants. The Notice of Proposed Settlement describes Class Members' rights. If you are a Class Member you may be able to receive payment from the settlement fund.

3. I received a Notice Packet. Can you please provide me with a list of my transaction history with Delphi Securities?

A. We do not have your transaction history for Delphi Securities. We have only been notified by either a bank, brokerage firm, other financial institution, or the transfer agent for Delphi securities, that some persons and entities to whom Claim Packets were sent may be a Class Member. For other persons and entities, we provided Claim Packets to the banks, brokerage firms, other financial institutions, and do not have records of the persons and entities that those financial institutions sent Claim Packets. We do not have financial records for any class members.

If you do not have your financial records, please contact your bank, broker or financial institution for records documenting your investments in Delphi Securities.

Acceptable forms of supporting documentation include:

4. How do I know if I am an Eligible Claimant?

A. You may be an eligible claimant if you purchased or otherwise acquired publicly traded securities of Delphi, including securities issued by Delphi Trust I and Delphi Trust II ("Delphi Securities"), during the period between March 7, 2000 and March 3, 2005, inclusive (the "Class Period"), and suffered damages thereby, or acquired shares of Delphi common stock and preferred stock in the secondary market and acquired debt securities of Delphi in the secondary market or pursuant to a registration statement.

5. What is the amount of the settlement fund?

A. The proposed Settlement provides for an aggregate recovery with a potential value of $295,100,000. This Settlement Fund is contingent on the approval of the bankruptcy Court of the Delphi Plan of Reorganization. (For a more complete breakdown of the components and a more complete explanation of the circumstances of this Settlement, please review section 7 of the Notice of Proposed Settlement). The settlement fund, less the costs of notice, administrative costs, taxes, and any attorneys' fees and costs awarded (the "net settlement fund") will be distributed to Class Members who submit acceptable Proofs of Claim.

Plaintiffs' Counsel will request attorneys' fees in an amount no greater than 18% of the Settlement Fund, plus up to $1.3 million for reimbursement of expenses that Plaintiffs' Counsel have incurred in the course of litigating the action and obtaining the settlement.

6. What do I need to do to participate in the settlement?

A. If you believe you are a Class Member and entitled to share in the settlement, you must complete and submit a Proof of Claim form, along with the necessary supporting documentation to the Claims Administrator postmarked no later than January 15, 2008.

7. What do I need to submit with my claim form?

A. You must list ALL of your transactions in Delphi securities during the Class Period (March 7, 2000 to March 3, 2005, inclusive) on your Proof of Claim form and submit documentary evidence of each transaction that you list on your claim form. Acceptable forms of supporting documentation include:

8. How much money will I receive if I file a claim form?

A. The amount of money that eligible claimants will receive depends on a number of factors, primarily (i) their "Recognized Claim" amount (which depends on the transactions made by the claimant in Delphi securities during the Class Period); (ii) the number or percentage of Class Members who submit valid Proofs of Claim; (iii) and the value of the total "Recognized Claims." Accordingly, it is not possible to know eligible claimant's recovery amounts at this time.

Claimants will not likely receive the full amount of their Recognized Claims. After all of the Recognized Claims of all eligible Class members are calculated, the Authorized Claimants will share in a pro rata distribution of the net settlement fund.

As stated in the Notice of Proposed Settlement, Co-Lead Counsel estimates that the average recovery under the Settlement will be $0.42 per share of Delphi common stock, taking into account that the Settlement Fund could be less than $295,100,000 (Please review section 7 of the Notice of Proposed Settlement), a maximum of 18.3% of the Net Settlement Fund may be paid to Authorized Claimants that purchased Delphi Notes, and before deductions. Please note that these amounts are only estimates.

9. How will my claim be calculated?

A. The Notice of Proposed Settlement provides the formulae for calculating any Class Member's Recognized Claim. The net settlement fund will be allocated in proportion to each Authorized Claimant's Recognized Claim. To download a copy of the Notice of Proposed Settlement, please click here.

10. When will I receive my payment?

A. Payments will be made after the Settlement is finally approved by the Court, after the Effective Date of the Delphi Plan of Reorganization and after all Proofs of Claim have been received and processed. Even if the Court approves the Settlement, it could take more than a year before the Net Settlement Fund is distributed to the Class Members because the Claims Administrator must process all of the Proof of Claim forms, audit the results and follow up to cure any deficient claims. As a result, the processing of claims is a complicated process which can take many months to complete. In addition, the Net Settlement Fund cannot be distributed until the Delphi Plan of Reorganization has been approved by the Bankruptcy Court and any appeals in the Bankruptcy Court have been resolved.

11. What do I do if I do not want to be a part of this settlement?

A. If you want to bring or continue your own suit against the defendants you must exclude yourself from the Class. To exclude yourself from the Settlement, you must send a letter by mail to the Claims Administrator saying that you want to be excluded from In re Delphi Securities, Derivative and ERISA Litigation, MDL No. 1725, Case No. 05-md-1725. If you wish to exclude yourself from the Class, be sure to include your name, address, telephone number, and signature, and mail your exclusion request, which must be received no later than October 29, 2007 to:

In re Delphi Corporation Securities Litigation Settlement
c/o The Garden City Group, Inc.
Exclusions
Claims Administrator
P.O. Box 9191
Dublin, OH 43017-4191

Requests for exclusion must also list the amount and type of all Delphi Securities purchased, acquired, or sold during the Class Period, the prices paid or received, the date of each transaction and the amount or number of Delphi Securities held as of the beginning of the Class Period on March 7, 2000 and at the end of the Class Period on March 3, 2005.

You cannot exclude yourself on the website, by telephone or by e-mail. If you do not follow these procedures - including meeting the date for exclusion set out above - you will not be excluded from the Class, and you will be bound by all of the orders and judgments entered by the Court regarding the Settlement. You must exclude yourself even if you already have a pending case against any of the Released Parties based upon any Settled Claims.

It is very important to understand that under the circumstances of the Delphi Bankruptcy Case and Delphi's Plan of Reorganization, submitting a request for exclusion from the Settlement will not necessarily entitle you to pursue any Settled Claim against any Released Party. If you desire is to pursue your own litigation against any of the Released Parties, you should consult with your counsel prior to excluding yourself.

If you do not want to participate in the settlement, do not complete and submit a Proof of Claim form. You are under no obligation to participate in the Delphi Corporation Securities Litigation Settlement. However, the only method to obtain proceeds from the settlement is to submit a timely and complete Claim form. Please refer to the Notice of Proposed Settlement for further information.

12. What happens if I do not do anything?

A. If you do nothing, you will not be eligible to receive a payment from the Settlement Fund, but you will be bound by the terms of the settlement - including the release of claims against Delphi, Delphi Trust I, Delphi Trust II, the Delphi Officer and Director Defendants, the Underwriter Defendants and the Non-Settling Defendants. Please refer to the Notice of Proposed Settlement for further information.

13. Who is the Claims Administrator?

A. The Garden City Group, Inc.

14. Where can I obtain additional information about the litigation?

A. You may obtain additional information about the litigation by calling the toll-free hotline at (800) 918-0998. Please do not contact the Court.

15. Where can I obtain a copy of the Settlement Notice and/or the Proof of Claim Form?

A. You can obtain a Notice of Proposed Settlement and Proof of Claim Form by calling (800) 918-0998 or by clicking here: (www.delphiclasssettlement.com)

16. When must I submit my Proof of Claim Form?

A. Your Proof of Claim form must be sent to the Claims Administrator and postmarked no later than January 15, 2008.

17. Do I have to give my claim form to my broker (Financial Advisor) or can I send it in?

A. There is no requirement that you use a broker or other agent to submit a Proof of Claim. Unless you have authorized and directed your broker or agent to submit a Proof of Claim on your behalf, you should submit your claim yourself. The Proof of Claim requires information that should be readily available to you from your own financial records.

If you are not an institution filing electronically, you should mail your claim form directly to the Claims Administrator at the following address:

In re Delphi Corporation Securities Litigation Settlement
c/o The Garden City Group, Inc.
Claims Administrator
P.O. Box 9185
Dublin, OH 43017-4185

18. If I have further questions, can I submit my questions via telephone or email?

A. If you have questions which are not answered by this website, please contact us at the telephone number (800) 918-0998. This hotline contains various information about the settlement and there are operators available from 8:00am to 6:00pm Eastern. You can also obtain assistance by email at questions@delphiclasssettlement.com.

19. How will I know when my Proof of Claim form has been received by the Claims Administrator?

A. Approximately 30 days after receipt of your claim form, the Claims Administrator will mail you a postcard acknowledging receipt.

Please note that as we process claims, we will also notify you in writing if your claim is deficient or ineligible. Steps needed to cure your claim will be set forth in the correspondence sent to you.

20. If I represent a financial institution that served as an advisor to numerous clients, can I file claim forms on their behalf? Can we group all our clients together using this method?

A. Provided that you are authorized to do so by your clients, and you provide us with copies of that authorization, then, yes, you may file on behalf of your clients who have so authorized you. If you would like to file these claims together, you should file electronically. You may file electronically by following the instructions at http://www.delphiclasssettlement.com/electronic.pdf.