Ronald A. Katz Technology Licensing, L.P. and GMAC LLC Settle Patent Lawsuit and Enter into License Agreement

LOS ANGELES--Ronald A. Katz Technology Licensing, L.P., headquartered in Los Angeles, and GMAC LLC, a leading, global financial services company operating in 40 countries, headquartered in Detroit, MI, announced today the settlement of patent litigation between the parties. As part of the settlement, GMAC LLC has agreed to pay an undisclosed sum for a nonexclusive license under a comprehensive portfolio of patents that Katz owns relating to interactive voice applications.

The nonexclusive license covers services as delivered by GMAC LLC in the "Financial Services Call Processing" Field of Use, including customer service provided via automated systems and live agents. Other terms of the license were not disclosed.

The patents held by Ronald A. Katz Technology Licensing, L.P. cover a wide range of interactive technology including automated forms of: customer service, prescription refill services, securities trading, merchandising, prepaid services, telephone conferences, registration, home shopping, as well as functions involved in securing information from databases by telephone, interactive cable transactions, and various other uses of toll free and local numbers.

Ronald A. Katz stated, "We welcome GMAC to the large number of leading companies who have purchased license rights under this portfolio."

There are over 200 companies with license rights under this portfolio, including over 25 energy and utility companies. Companies with license rights under this portfolio include: Advanta Corp., Alltel Corporation, American Century, American Express, Ameritrade Holding Corporation, Automatic Data Processing, Inc., AT&T Corp., Bank of America Corporation, BB&T Corporation, Capital One Services Inc., Cellco Partnership d/b/a Verizon Wireless, Certegy Inc., Dell Inc., Delta Air Lines, Inc., Edward D. Jones & Co., L.P., Equifax Inc., Excel Communications Inc., First Data Corporation, First National Bank of Omaha, First Tennessee National Corporation, Hewlett-Packard Company, Home Shopping Network Inc., Household International, Inc., HSBC Bank USA, International Business Machines (IBM), KeyCorp, LaSalle Bank Corporation, MCI Inc., Mediacom Communications Corporation, Mellon Financial Corporation, Merck & Co., Merrill Lynch & Co., Inc., Metris Companies Inc., Microsoft, MoneyGram Payment Systems Inc., Nationwide, OppenheimerFunds, Inc., People's Bank, The PNC Financial Services Group, Inc., Principal Financial Group, Inc., Prudential Financial, Inc., QVC, Inc., Sears, Roebuck and Co., Shop At Home, Inc., Sprint Corporation, SouthTrust Bank, Sunoco, Inc., Synovus, The Gallup Organization, T. Rowe Price Associates, Inc., The Vanguard Group, Inc., Verizon California Inc. and its affiliates, Wachovia Corporation, and Wells Fargo & Company.

Mr. Katz is the named inventor on a large number of patents primarily in the fields of telecommunications and computing. He also formed Telecredit, Inc., the nation's first on-line real time credit and check cashing authorization system, and was awarded a patent as co-inventor of that technology.

GMAC Financial Services is a global, diversified financial services company that operates in 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and currently employs about 31,000 people worldwide. For more information, go to www.gmacfs.com.