National Press Release

Company participates in FDIC's Temporary Liquidity Guarantee Program

DETROIT, June 3 /PRNewswire/ -- GMAC Financial Services today announced that it has priced an offering for $4.5 billion of debt guaranteed by the Federal Deposit Insurance Corporation (FDIC) pursuant to the FDIC Temporary Liquidity Guarantee Program (TLGP). This offering further improves the company's liquidity profile. The securities offering included $3.5 billion aggregate principal amount of senior fixed rate notes and $1.0 billion aggregate principal amount of senior floating rate notes, both due in December 2012.

GMAC intends to leverage its strengthened liquidity position resulting from this transaction to support the extension of credit to consumers and businesses, as well as for other general corporate purposes.

In May 2009, GMAC received approval to participate in the TLGP for up to $7.4 billion. The approval came amid a series of transactions to help improve the capital and liquidity position of the company.

The notes and the FDIC guarantee have not been, and are not required to be, registered with the Securities and Exchange Commission (SEC) under the Securities Act of 1933, as amended. The notes are being offered and sold in reliance upon an exemption from registration with the SEC provided in Section 3(a)(2) of the Securities Act.

About GMAC Financial Services

GMAC specializes in automotive finance, mortgage operations, insurance, commercial finance and online banking. As of March 31, 2009, the company had approximately $180 billion in assets and serviced 15 million customers around the world. Visit the GMAC media site at http://media.gmacfs.com for more information.

    Contact:
    Gina Proia
    917-369-2364
    gina.proia@gmacfs.com

SOURCE GMAC Financial Services