GMAC Financial Services to Promote Financial Literacy for Community Service 2008

GMAC to Participate in 16 Events Across the United States

DETROIT, July 1 -- In an effort to provide Americans with a better understanding of money management and financial literacy, GMAC Financial Services is proud to announce its participation in the financial services industry's Community Service 2008 by hosting GMAC SmartEdge seminars and participating in events with non-profit partners to promote financial education throughout the summer.

"GMAC embraces the opportunity to give back to the communities in which we live and work by sharing our knowledge of financial literacy," said GMAC CEO Al de Molina. "As we engage people across the country, increasing their awareness and understanding of personal finance, we will make strides in strengthening our communities by providing people with the tools they need to make smart financial decisions."

GMAC's commitment is part of a larger effort being conducted by The Financial Services Roundtable and its member companies to help improve communities and strengthen partnerships with non-profit partners and public policymakers in hundreds of cities across the United States. This year's Community Service 2008 (formerly known as Community Build Day) will focus on financial education, with increased visibility of financial education programs in communities.

"Community Service 2008 demonstrates how the financial services industry works 365 days a year to improve the communities they serve," said Steve Bartlett, president and CEO of The Financial Services Roundtable. "With this year's events focusing on financial education, these volunteers will be spreading their knowledge to be used as a stepping stone in life."

GMAC offers a comprehensive financial education program, GMAC SmartEdge, that aims to help consumers make informed financial decisions by improving people's understanding of credit, budgeting, vehicle and home financing, banking, and insurance. GMAC promotes financial literacy through the SmartEdge Web site, www.SmartEdgebyGMAC.com, and seminars.

GMAC will participate in more than 16 events across the country, most of which will be conducted in conjunction with non-profit partners. GMAC will participate in events hosted by Junior Achievement in Waterloo, Iowa; Costa Mesa, Calif.; and, Winston-Salem, N.C. GMAC SmartEdge sessions will be completed at Team Focus events in Riverside, Calif.; Birmingham, Ala.; Washington, DC; Ashland, Ohio; Sandusky, Ohio; and, Mobile, Ala. GMAC and the Urban League will collaborate for events in Minneapolis and Philadelphia. GMAC will also participate in events in Detroit, Atlanta, Chicago and New York City.

This year marks the seventh annual Community Service 2008. Richard Davis, president and CEO of U.S. Bancorp, and Don McGrath, chairman and CEO of BancWest Corporation, are the Community Service 2008 co-chairs. The national sponsors are: AEGON USA, Inc., The Allstate Corporation, American General Financial Services, AXA Equitable, Bank of America Corporation, BancWest Corporation, The Bank of New York Mellon Corporation, Barclays Capital, Inc., Capital One Financial Corporation, Charles Schwab Corporation, Edward Jones, GMAC Financial Services, HSBC - North America, ING, MasterCard Worldwide, The NASDAQ OMG Group, Inc., Nationwide, The PMI Group, Inc., Principal Financial Group, Protective Life Corporation, Raymond James Financial, Inc., Regions Financial Corporation, State Farm Insurance Companies, Toyota Financial Services, UnionBanCal Corporation, Unum, U.S. Bancorp, Visa, Inc., Washington Mutual, Inc., and Wells Fargo & Company. (As of May 29, 2008)

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.