GMAC Financial Services and Habitat for Humanity Collaborate to Develop Housing Opportunities

GMAC Financial Services Will Provide Funding and Volunteers to Build 15 New Homes

DETROIT and ATLANTA, June 6 -- GMAC Financial Services (GMAC) affirms its partnership with Habitat for Humanity to create homeownership opportunities in collaboration with families in need of decent, affordable homes.

GMAC, a global finance company based in Detroit, will provide funding and more than 500 volunteers to help build 12 Habitat homes in the United States, as well as three additional homes in Canada and Mexico throughout 2008.

"GMAC's partnership with Habitat for Humanity provides us with an opportunity to give back to the community and to demonstrate our strong commitment to help families worldwide," said GMAC CEO Al de Molina. "GMAC and our employees are dedicated to making this year's Habitat build season a great success."

"Habitat for Humanity plays a major role in the effort to provide affordable housing in many countries around the world," added Sharon Sayles Belton, director of community relations for GMAC. "GMAC partners with Habitat because we believe homeownership is fundamental to building strong, sustainable communities."

Sponsorships have been awarded to Habitat affiliates in Atlanta; Charlotte, N.C.; Chicago; Dallas; Detroit; Jacksonville, Fla.; Minneapolis; New York City; Philadelphia; Costa Mesa, Calif.; Waterloo, Iowa; Winston-Salem, N.C.; Toronto; and Mexico City.

"Our long-standing partnership with GMAC has helped provide the resources needed to build affordable housing with hundreds of families," said Jonathan Reckford, CEO of Habitat for Humanity International. "We are excited to have GMAC's support once again as we embark on another year of working together to make the dream of homeownership a reality for many families."

For more than 15 years, the financial and volunteer support offered by GMAC and its subsidiaries has helped Habitat build and rehabilitate hundreds of homes. Additionally, GMAC supports financial literacy and homeownership through several initiatives including foreclosure prevention programs via GMAC ResCap's Keychain Alliance and the Homeownership Preservation Foundation, and financial literacy via GMAC SmartEdge, a program designed to educate consumers in the areas of credit, budget, banking, vehicle and home financing, and insurance. For more information on financial literacy go to www.SmartEdgebyGMAC.com .

About GMAC Financial Services

GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and employs approximately 26,700 people worldwide. For more information, go to www.gmacfs.com .

About Habitat for Humanity International

Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built more than 250,000 houses worldwide, providing simple, decent and affordable shelter for more than 1 million people. For more information, visit www.habitat.org .