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PRESS RELEASE

GMAC Announces Earnings for 1996

29 January 1997

GMAC Announces Highest Earnings In Five Years

    DETROIT, Jan. 28 -- GMAC (General Motors Acceptance
Corporation) reported 1996 consolidated net income of $1,240 million, up 20%
from the $1,031 million earned in 1995, GMAC President John R. Rines announced
today.  These earnings were the highest since 1991.
    In 1996, net income from financing operations, including results from the
GMAC Mortgage Group, totaled $1,048 million, up 21% from the $868 million
earned in 1995.  Earnings benefited from a favorable funding mix, continued
growth in retail leasing, and higher earnings from the mortgage operations.
    Motors Insurance Corporation (MIC), GMAC's insurance subsidiary, generated
net income of $192 million in 1996, up 18% from the $163 million earned in
1995.  The increase is principally due to improved performance from commercial
dealership and extended warranty coverages and higher capital gains.
    Fourth quarter 1996 results totaled $274 million, up 4% from the $263
million earned in the final quarter of 1995.  For the quarter, net income from
financing operations, including the mortgage group's results, totaled $206
million, up from $201 million earned a year ago.  MIC's net income for the
fourth quarter 1996 totaled $68 million, which is a record fourth-quarter
return and up from $62 million earned a year ago.

SOURCE  General Motors Acceptance Corporation

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CONTACT: Peter Smudde, 313-556-2642, or Terry Sullivan, 313-556-1020, both
of GMAC