PRNewsWire March 13, 2004

The Alexandria Circuit Court entered a record property judgment in favor of Alexandria, VA Buick, Pontiac, GMC, and Mitsubish dealer Mike Field in the amount of $9,230,265.

The bench trial arose from a dispute over General Motors false sales reporting and a financing program operated by General Motors Acceptance Corporation that dealer Mike Field contended was discriminatory and essentially a red-lining program that damaged his dealership and caused his customers to pay more for their vehicle financing.

Field claimed General Motor's record earnings in 2003 was a fabrication and that automobile sales his dealership made in January of 2004 had been unlawfully backdated to December of 2003 by General Motors.

GMAC filed a detinue action against Field alleging Field had not been making certain payments to GMAC and demanded Field sign a confidentiality agreement regarding his claims of financial irregularities at GM and GMAC. Field refused GMAC demands and went to court.

Alexandria Circuit Court Judge Howe found, after the trial, that Mr. Field had in fact made all payments as required and entered the over nine million dollar judgment in favor of Field. Counsel for GMAC objected to the judgment and made no further comment.

GMAC was represented by the law firm of Wolcott Rivers from Virginia Beach, VA and Field Auto City, Inc. was represented by the McLean lawfirm of Arthur Schwartzstein PC.

Field Auto City sells Buicks, Pontiacs, GMCs and Mitsubishis in Alexandria, Virginia and sells Hyundais and Suzukis in Leesburg, VA. Dealer Mike Field operates a restaurant in Great Falls, VA, a data storage facility in Buenos Aires Argentina, the Virginia Beach Mariners professional soccer team in Virginia Beach, VA and a variety of other enterprises.

GMAC was formed in 1919 and is the financing arm of General Motors. GMAC operates a large residential mortgage operation.