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"Damn right I’m mad!" – Montana Governor Schweitzer blasts GM plan to cancel Stillwater platinum contract

Gov. Schweitzer on GM’s cancellation of Montana mine contract: "Damn right I’m mad!"

Tax-dollar-dependent General Motors wants to cancel its contract with the nation’s only platinum and palladium mine, the Stillwater Mine in Montana’s Beartooth Mountains, even as it evidently retains contracts with foreign mines.

The news came out as GM emerged from bankruptcy as a new company in which the U.S. Treasury is the primary shareholder. It ignited outrage in Montana.

“Damn right I’m mad,” Gov. Brian Schweitzer said Friday. “They reached into my pocket so they can stay in business and then they take actions to put Montanans out of business.”

By JENNIFER McKEE of the Missoulian State Bureau

Full Story: http://missoulian.com/articles/2009/07/10/bnews/br68.txt

***

Montana Gov. Brian Schweitzer is asking the Obama administration to force General Motors Corp. to honor its contract with a platinum mine instead of buying the precious metal from overseas.

GM wants to cancel its contract with the Stillwater mine as part of its bankruptcy reorganization that infused the company with $50 billion in government loans.

By MATTHEW BROWN of the Associated Press

Full Story: http://missoulian.com/articles/2009/07/10/bnews/br75.txt

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The accompanying press release explains a bankruptcy court petition by General Motors to terminate its contract for palladium and rhodium with Stillwater Mining Company. At the same time, no filing has been made to terminate similar contracts with foreign suppliers. This seems to be quite an affront to American taxpayers and Stillwater Mining Company employees for the sacrifices they have made to keep GM afloat. For the sake of Montana’s economy, we urge you to use the contact sheet following the press release to try to change this situation. Feel free to pass this along to others, as well. Thank you.

Webb Scott Brown, CAE, President/CEO

Montana Chamber of Commerce – your business advocate

888-442-MONT(6668) ext. 101; 406-442-2405 ext.101; 406-431-9508(cell); 406-442-2409(fax)

http://www.montanachamber.com / [email protected]

***

PRESS RELEASE /
FOR IMMEDIATE RELEASE: July 8,2009

CONTACT: Gregory A. Wing

Chief Financial Officer

406-373-8700

STILLWATER MINING COMPANY TO LOSE SALES CONTRACT
UNDER GENERAL MOTORS BANKRUPTCY PETITION

COLUMBUS, MONTANA – STILLWATER MINING COMPANY (NYSE:SWC) announced today it has
received notice advising that General Motors Corporation ("GM) has petitioned the banlmptcy court to reject
the existing Palladium & Rhodium Supply Agreement between GM and Stillwater Mining Company (the
"Company"). In response, the Company expects to file an objection with the bankruptcy court and has been in
contact with its elected representatives.

Comenting on this announcement, the Company’s Chairman and CEO, Francis R. McAllister, noted,
"Obviously, we are extremely disappointed that GM has chosen to reject our supply agreement outright in
bankruptcy. The Company has been negotiating in good faith with GM for nearly nine months regarding the terms
of this agreement and had already implemented two interim contract modifications at GM’s request.

"The Company’s PGM supply agreements with GM and Ford include provisions that guarantee a minimum
purchase price for palladium and platinum when prices fall below stipulated levels. These provisions are currently
very beneficial to us in view of today’s relatively low PGM prices. In the absence of these agreements, the
Company will still be able to sell its production into the market, but would lose the benefit of these pricing floors.
Because (1) the GM contract is the smaller of the two automotive supply agreements, (2) the Company’s cash
position is strong, and (3) our employees are fully committed to our effort to be a low-cost producer, I believe the
Company will be able to absorb the $5 to $10 million annual financial impact (at recent PGM prices) of losing the
GM contract, particularly if PGM prices remain at or above their second-quarter levels. However, PGM prices
have declined in recent days, suggesting the loss of the GM floor prices may become much more critical to the
Company going forward. We expect to meet with our employees and union representatives shortly to discuss the
urgency of this situation with them.

"We certainly recognize that the current economic downturn has decimated the automotive industry, forcing GM
and others to make some difficult choices. At the same time it seems disingenuous to me, during a period when
preserving American jobs is such a high domestic priority, that GM, while receiving immense financial support
from the U.S. government, would elect, as I understand it, to continue its supply agreements with foreign
palladium suppliers while seeking to terminate an agreement with the sole U.S. miner of palladium. While I
believe the Company, absent any sustained decline in PGM prices, will be able to absorb the loss of the GM
agreement, the message GM is sending to American taxpayers is disconcerting. I find it ironic that GM is willing
to ship American taxpayer dollars to our competitors overseas while we struggle to maintain economic operations
here at home.

"Stillwater’s employees at all levels have sacrificed personally, and hundreds have lost their jobs, in the effort to
move the Company toward economic sustainability in response to the current economic downturn. We have
achieved significant progress to date this year with regard to sustainability. The Company’s mining productivity
has strengthened and cash costs per ounce are declining, such that second quarter 2009 financial results will
exceed market expectations. The Company continues to push forward on several fronts, recognizing that its
mining and processing operations must become still more efficient in anticipation of the expiration of the larger
Ford Motor Conipany ("Ford") supply agreement at the end of 2010. If GM is successful in rejecting our PGM
supply agreement, that will only emphasize the strategic importance of the Company’s objective to be a safe, lowcost
operator.

"It is not yet clear how all this will turn out, of course. Resolution of the GM bankruptcy is clearly on an
accelerated timetable, limiting opportunities to intervene. We have sought the support of our elected
representatives in carrying our case forward and weighing in on the Company’s behalf in this matter. However, it
appears that right now there is reluctance in Washington to intercede. Hopefully our Congressional delegation
will step forward in the interest of preserving jobs in Montana.

"While by nature I am optimistic that we can find a mutually acceptable resolution to this issue, in reality that
may not be possible. Should PGM prices decline over the next several months, loss of the GM contract ultimately
could put our employees, their families and the communities where we live in economic jeopardy. While I believe
that the long-term prospects for the metals we produce are favorable and that our competitive position is steadily
improving, our operations are not yet sustainable at current PGM price levels without the benefit of the floor
prices in our automotive supply agreements. Our objective is to reach sustainability by the end of 2010, but in the
interim there can be no assurance that the Company will be able to achieve that level of operating efficiency, nor
that PGM prices will not decline further."

Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary
producer of platinum group metals outside of South Africa and Russia. The Company’s shares are traded on the
New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Web
site: http://www.stillwaterminin.com.

Some statements contained in this report are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements
may contain words such as "desires," "believes," "anticipates," "plans," "expects," "intends," "estimates" or
similar expressions. These statements are not guarantees of the Company’s future performance and are subject to
risks, uncertainties and other important factors that could cause its actual performance or achievements to differ
materially from those expressed or implied by these forward-looking statements. Additional information
regarding factors that could cause results to differ materially from management’s expectations is found in the
Company’s 2008 Annual Report on Form 10-K on file with the United States Securities and Exchange
Commission and available on the Company’s website.

The Company intends that the forward-looking statements contained herein be subject to the above-mentioned
statutory safe harbors. Investors are cautioned not to rely on forward-looking statements. The Company
disclaims any obligation to update forward-looking statements.
MT Congressional Contacts: GM Contacts:

Senator Max Baucus

e-mail: max@,baucus.senate.gov

http://www.baucus. senate,

Billings Office

222 North 32nd Street

Suite 100

Billings, MT 59 10 1

(406) 657-6790

(406) 657-6793 (Fax)

Washington D.C.

5 11 Hart Senate Office Bldg.

Washington, D.C. 205 10

(202) 224-265 1 (Office)

(202) 224-94 12 (Fax)

Senator Jon Tester

http://tester.senate.gov/

e-mail: senator@,tester.senate.gov

Billings Office

Granite Tower

222 N 32nd Street, Suite 102

Billings, MT 59101

Phone: (406) 252-0550

Fax: (406) 252-7768

Washington, D.C.

724 Hart Senate Office Building

Washington, DC 205 10-2604

Phone: (202) 224-2644

Fax: (202) 224-8594

Congressman Denny Rehberg;

http://rehberg.house.gov/

e-mail: dustin.frost@,mail.house.gov

Billings District Office

120 1 Grand Avenue Suite I

Billings, MT 59 102

phone: (406) 256- 10 19

FAX: (406) 256-4934

Edward Whitacre, Jr.

Chairman

300 Renaissance Center

Detroit, MI 48265

Telephone: 3 13-556-5000

Facsimile: 313-556-5 108

Frederick A. Henderson

President and

Chief Executive Officer

300 Renaissance Center

Detroit, MI 48265

Telephone: 3 13-556-5000

Facsimile: 3 13-556-5 108

Ray Young

GM Executive Vice President and

Chief Financial Officer

300 Renaissance Center

Detroit, MI 48265

Telephone: 3 13-556-5000

Facsimile: 3 13-556-5 108

David Drouillard

Director, Non-Ferrous Metals & Asset Recovery

Mail Code 483-720-350

777 Joslyn Avenue

Pontiac, MI 48340-2925

Washington, DC Office

2448 Rayburn HOB

Washington, DC, 205 15

phone: (202) 225-32 1 1

fax: (202) 225-5687

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