White & Case Partner Thomas E. Lauria Agrees to Work on Behalf of GM Bondholders Unite

SAN DIEGO, May 30, 3009: GM Bondholders Unite (www.gmbondholdersunite.com) said today that Thomas E. Lauria, Esq., the bankruptcy attorney who represented the rights of dissident bondholders in the Chrysler Chapter 11 filing, has agreed to work with GM Bondholders Unite in representing the thousands of individual General Motors bondholders who have been systematically excluded from the negotiating table.

Mr. Lauria heads the financial restructuring and insolvency group at White & Case, one of the nation’s top law firms, and has led efforts to restructure more than $100 billion of debt in some of the largest and most complex restructurings in history.

Mr. Lauria’s involvement comes a day before bondholders must decide whether to accept the latest GM offer to exchange their bonds for equity in a restructured company. Despite few details, bondholders must decide by 5 p.m. (Eastern Daylight Time) Saturday whether to accept the deal, which is backed by the Treasury Department. Thousands of small bondholders – many of them retirees – rely on their investments to meet day-to-day expenses and could face economic ruin.

GM Bondholders Unite is a group of small and large holders of General Motors debt determined to protect its members’ legal rights and investments. It is a non-partisan, non-ideological coalition of investors fearful that current proposals will wipe out the hard-earned savings of tens of thousands of people who made what they thought were conservative investments in a storied American brand.