Wilmington Trust to Serve as Trustee in General Motors Bankruptcy

Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, said today that it is serving as successor indenture trustee for certain holders of $23.075 billion of unsecured debt securities issued by General Motors Corporation (GM), which filed for Chapter 11 protection today in the United States Bankruptcy Court, Southern District of New York.

Wilmington Trust is not a direct holder of debt issued by GM and has no direct credit exposure to GM. In its role as successor indenture trustee, Wilmington Trust receives a fee for performing administrative services on behalf of bondholders it represents.

"Our trustee assignment in GM’s bankruptcy is another indication of CCS’ position as a leading global provider of independent trustee and administrative services for corporate clients,” said Ted T. Cecala, Wilmington Trust’s chairman and chief executive officer.

Wilmington Trust’s CCS business offers institutional trustee, agency, asset management, retirement plan, and administrative services for clients worldwide who use capital market financing structures, as well as those who seek to establish or maintain nexus, or legal residency, for special purpose entities. Because Wilmington Trust does not underwrite securities offerings or provide investment banking services, it is able to deliver corporate trust services that are conflict-free.

About Wilmington Trust

Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 88 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.