Oct. 8, 2009 (PR Newswire) -- DETROIT, Oct. 8 /PRNewswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann, LLP; Grant & Eisenhofer P.A.; Nix, Patterson & Roach, L.L.P. and Barroway Topaz Kessler Meltzer & Check, LLP regarding the Delphi Corporation Securities DERIVATIVE & "ERISA" Litigation.

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN
SOUTHERN DIVISION

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IN RE: DELPHI CORPORATION         : MDL No. 1725
SECURITIES, DERIVATIVE & "ERISA"  : Master Case No. 05-md-1725
LITIGATION                        : Hon. Gerald E. Rosen
:
: This Document Relates to:
: In Re: Delphi Corp. Securities Litig.
: No. 06-10026, and Case Nos.
: 06-10025, 06-10027, 06-10028,
: 06-10029, 06-10030, 06-10031, and
: 06-10032
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SUMMARY NOTICE OF PROPOSED SECOND MODIFICATION TO THE

TERMS OF THE SETTLEMENT WITH CERTAIN DEFENDANTS

YOU ARE HEREBY NOTIFIED that a proposed second modification ("Second Modification") to the terms of the settlement with certain defendants in the above-referenced Delphi Securities Action has been presented to, and tentatively approved by, the Court. This Second Modification amends the settlement terms set forth in the Stipulation and Agreement of Settlement With Certain Defendants (the "Stipulation") dated August 31, 2007, as amended on January 11, 2008 (the "First Modification"), which was approved by the Court on January 23, 2008 following a fairness hearing and notice to the Class. Unless stated otherwise, all terms capitalized herein are as defined in the Stipulation, as modified by the First Modification and the Second Modification.

The proposed Second Modification accelerates the timing and assures the payment of the Class's recovery but decreases the consideration received by the Class. A summary of the proposed modifications follows:

1. The Settlement will become effective independent of the occurrence of the
Bankruptcy Effective Date and/or the substantial consummation of any
Delphi plan of reorganization, and thus, the $90.1 million in cash (plus
interest), less Court-approved attorneys' fees and expenses, currently
being held in escrow will be distributed pursuant to the terms of the
Stipulation, as modified by the First Modification and the Second
Modification, regardless of when or whether Delphi emerges from
bankruptcy.
2.