Koenigsegg Group AB Terminate Agreement For Purchase of Saab

    DETROIT, Nov. 24 /PRNewswire/ -- General Motors confirmed today that
the proposed sale of its Saab subsidiary to Koenigsegg Group AB was
terminated at the discretion of the buyer.

    "We're obviously very disappointed with the decision to pull out of the
Saab purchase," said GM President and CEO, Fritz Henderson. "Many have
worked tirelessly over the past several months to create a sustainable plan
for the future of Saab by selling the brand and its manufacturing interests
to Koenigsegg Group AB. Given the sudden change in direction, we will take
the next several days to assess the situation and will advise on the next
steps next week."

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