NEW YORK, April 2 2004 – LAWFUEL – The Law News Network — Wolf Halde…

NEW YORK, April 2 2004 - LAWFUEL - The Law News Network -- Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the Southern District of New York, on behalf of all persons who purchased the securities of Delphi Corporation ("Delphi" or the "Company") (NYSE: DPH) between April 12, 2000 and March 3, 2005, inclusive, (the "Class Period") against defendants Delphi and certain officers of the Company. The case name is Gaines v. Delphi Corporation, et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com. The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities. In connection with the allegations set forth in the complaint, Wolf Haldenstein is also considering additional claims specifically on behalf of employees of Delphi. This investigation centers on possible violations of the Employee Retirement Income Security Act of 1974 in connection with the holdings of Delphi common stock in the retirement plans. The investigation is examining whether the Company, and fiduciaries of the retirement plans, breached their fiduciary duties to the Plan, and the employees who participated in the Plan, by allowing the Plan to continue to offer Delphi common stock as an investment option and utilize it as a matching contribution when the Company and fiduciaries knew, or should have known, that it was an inappropriate investment because of the financial condition of the Company. Members of any Delphi sponsored 401(k) Plans, including current or former employees, who purchased or acquired Delphi stock through one of the plans may contact Wolf Haldenstein concerning their rights in this matter. The affected retirement plans include the Delphi Retirement Plan, Delphi Union 401(K) Plan, Delphi Products Savings Investment Plan, and the Delphi Products Employee 401(K) Savings Plan. The Complaint alleges that during the Class Period, defendants made statements that were materially false and misleading when made because defendants failed to disclose the following adverse facts: (i) that improper accounting for off-balance sheet financing transactions in 2000 resulted in the Company overstating cash flow from operations, determined in accordance with Generally Accepted Accounting Principles ("GAAP"), for that year by approximately $200 million; (ii) that improper accounting for certain rebate transactions, credits or other lump-sum payments from information technology service providers resulted in the Company overstating pre-tax income under GAAP in excess of $100 million in 2001 and prior periods; (iii) that the Company prematurely recognized revenue for technology contracts and rebates when it should have spread them over the life of the contract; (iv) that it improperly capitalized expenses over time, rather than recognizing them immediately and boosted cash flow from operations and pretax earnings by claiming it sold assets and inventory that it had actually agreed to buy back later; (v) that the Company's financial statements were not prepared in accordance with GAAP; (vi) that the Company lacked adequate internal controls and was therefore unable to ascertain the true financial condition of the Company; and (vii) that as a result, the Company's reported revenue, net income and financial results were materially overstated during the Class Period. If you purchased Delphi securities during the Class Period, you may request that the Court appoint you as lead plaintiff by May 6, 2005. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action. Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Christopher S. Hinton, Esq., or Derek Behnke), via e-mail at classmember@whafh.com or visit our website at http://www.whafh.com. All e-mail correspondence should make reference to Delphi.

NEW YORK, April 2 2004 – LAWFUEL – The Law News Network — Wolf Halde…

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