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GENERAL MOTORS ACCEPTANCE HAS FIVE-YEAR CONTRACT WITH EDS

General Motors’ Electronic Data Systems unit has been chafing over the fact that divisions of its parent have been unwilling to enter into long-term contracts, preferring only one-year or even cost-plus contracts, so there is rejoicing in Dallas over the fact that the finance subsidiary, General Motors Acceptance Corp has entered a five-year fixed price contract with EDS, believed to be worth about $700m, doubling to 30% the proportion of long term business with GM units.

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CBR Staff Writer

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