Delphi Automotive Systems (DPH) Message Board

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Non-Tech : Delphi Automotive Systems (DPH)

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To: JakeStraw who wrote (109)	12/17/1999 9:56:00 AM
From: BWAC	Read Replies (3) of 397

Read last paragraph: ("These contributions deliver value to our investors by positively influencing earnings in 2000 and beyond. ) ____________________________________________________ TROY, Mich., Dec 17, 1999 /PRNewswire via COMTEX/ -- Delphi Automotive Systems (NYSE: DPH) today announced it has used a portion of its strong year-to-date cash flow to pre-pay an additional $325 million to its U.S. hourly pension fund on December 15. This contribution brings total voluntary payments for the year to $1.2 billion. Delphi Chief Financial Officer Alan S. Dawes credited improvements in working capital and ongoing solid earnings for the strong cash flow that allowed Delphi to make the contribution. "Our continued strong cash flow levels have allowed us to further exceed federal regulatory minimum requirements for pension funding and aggressively pursue fully funding pension funds," said Dawes. "These contributions deliver value to our investors by positively influencing earnings in 2000 and beyond. Importantly, they show our employees that we are committed to funding employee pension plans so they can maintain their standard of living and continue to provide for themselves and their families," he continued.

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