TL*THE CONTACT OWNS A 2005 CHEVROLET MALIBU. WHILE DRIVING APPROXIMATELY 40 MPH IN THE RAIN, THE POWER STEERING FAILED. THE INSTRUMENT PANEL DISPLAYED "POWER STEERING", BUT THE SERVICE ENGINE LIGHT NEVER ILLUMINATED. SHE WAS DRIVING ON THE LEFT SIDE OF A THREE LANE ROAD WHEN THE FAILURE OCCURRED. THE VEHICLE CONTINUED TO VEER TO THE RIGHT AS SHE DEPRESSED THE BRAKE PEDAL. AS A RESULT, SHE STRUCK THE RIGHT GUARDRAIL, WHICH CAUSED AXLE FAILURE, BODY WORK, AND DAMAGE TO THE PASSENGER SIDE TIRE. A POLICE REPORT WAS FILED. THE VEHICLE WAS TOWED TO THE DEALER, WHERE IT CURRENTLY REMAINS. THE CURRENT AND FAILURE MILEAGES WERE 55,000.