Investor Information

Below are answers to some of the most frequently asked questions investors may have about Delphi's restructuring. If you have any questions or comments about Delphi's restructuring, you can call our special toll-free restructuring information line at +1 866.688.8740 or, if you are calling outside the United States, +1 248.813.2602.

1.      Why did the NYSE suspend Delphi's shares?

On October 11, 2005, Delphi received notice from the NYSE that it intended to move to delist its common and preferred stock as well as debt securities.

It is at the sole discretion of the NYSE as to when and whether the stock will continue trading. The NYSE can request that the SEC delist Delphi's common stock if they believe Delphi is no longer in compliance with the NYSE listing requirements. These requirements are both quantitative and qualitative. When a NYSE listed company files for chapter 11 the Exchange may exercise its discretion as to whether to continue the listing and trading of the securities of the company. Additionally, if a company falls below any continued listing standard files or announces an intent to file for chapter 11 or for relief under any provisions of any bankruptcy laws, it is common for the NYSE to suspend trading and consider moving to delist an issuers securities. For more information please see www.nyse.com.

2.      Will the stock continue to have value after the filing? What can shareholders expect to ultimately happen to their investment if the company files for chapter 11?

There is no assurance as to what values, if any, will be ascribed in the chapter 11 cases to Delphi's existing common stock and/or any other equity securities. Accordingly, the company urges that the appropriate caution be exercised with respect to existing and future investments in any of these securities as the value and prospects are highly speculative.

  1. Who is the transfer agent?

Bank of New York.

  1. Why did Delphi choose to voluntarily delist its stock from the NYSE instead of going through the process to remain listed?

Since its listing status on the NYSE was suspended and an ongoing concern, Delphi decided that it was in the best interest of its shareholders to provide a steady market on an alternate OTC exchange.

  1. Does Delphi plan to appeal the move to delist its stock from the NYSE?

No. Delphi has decided in light of the filing to not appeal the move to delist its stock on the NYSE.

  1. Which of the NYSE continued listing standards did Delphi no longer meet?

In its news release on October 11, 2005 the NYSE subsequently determined to suspend trading based on the abnormally low pricing levels for the common stock. On October 10, 2005, Delphi's common stock closed at 33 cents per share. The NYSE noted that it may, at any time, suspend a security if it believes continued dealings in the security on the NYSE are not advisable.

  1. Where will Delphi's shares trade now? For how long?

Delphi common stock is currently trading over the counter on the "Pink Sheets" under the ticker symbol DPHIQ. The preferred is DPHAQ. For the most current information please contact Delphi's restructuring information line at (866) 688-8740. www.pinksheets.com.

  1. At what price will the stock trade?

The price, as always, will be determined by those buying and selling the stock. Please contact your broker, financial advisor or www.pinksheets.com for a quote.

  1. What is the new ticker symbol for the common shares? Preferred shares? Notes?
  • Ticker symbol for common stock: DPHIQ
  • Ticker symbol for preferred stock: DPHAQ
  • Ticker symbol for 6 1/2% Notes due May 1, 2009: DPHIQ.GB
  • Ticker symbol for 7 1/8% debentures due May 1, 2029: DPHIQ.GC

 

  1. What are the "Pink Sheets?"

The "Pink Sheets" is an electronic quotation system that displays quotes from broker dealers for many over-the-counter (OTC) securities. "Market makers" and other brokers who buy and sell OTC securities, can use the Pink Sheets to publish their bid and ask quotation prices. The name "Pink Sheets" comes from the color of paper they were historically printed on. They are published today by Pink Sheets LLC, a privately owned company. Pink Sheets LLC is not registered with the SEC in any way and it is not an NASD Broker-Dealer.

  1. Where are the debentures traded?

www.NASDBONDINFO.COM/ASP/BOND_SEARCH.ASP

  1. Will you continue to file timely financial reports to remain in compliance with the SEC?

Yes, the company plans to continue filing financial reports with the SEC.

  1. Then why did you obtain a listing on the "Pink Sheets" instead of the OTC Bulletin Board?

Delphi obtained a listing on the "Pink Sheets" in order to provide a market for our shares as quickly as possible following our suspension from the NYSE. In addition the Pink Sheets does not require companies whose securities are quoted upon its systems to meet any listing requirements.

  1. Is it possible that Delphi's shares will trade again on the NYSE?

Delphi does not plan to pursue a lifting of the suspension or a relisting of its shares on the NYSE while it remains in chapter 11 restructuring.

  1. Will both the preferred shares and common shares trade on the OTC exchange?

Yes. Preferred: DPHAQ Common: DPHIQ

  1. If the stock is trading under a new ticker symbol, does that mean my shares are worthless?

No. You still hold the same number of shares and the same stock that you did before the symbol change. The only difference is the exchange the shares are trading under and thus the new symbol. As always, the share price will be determined by the market.

  1. What is the difference between the OTC market and a stock exchange?

Stock Exchange: Stock exchanges have specific quantitative and qualitative listing and maintenance standards that are stringently monitored and enforced. Companies listed on an exchange also have reporting obligations to the exchange and a direct business relationship exists between the exchange and its listed companies.

There are no minimum required standards and no business relationship exists between the quotation services (e.g., OTCBB, "Pink Sheets") and the issuers.