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GMAC and Budget to Offer Truck Rental to Apartment Residents

28 August 1998

GMAC Commercial Mortgage, Budget Car and Truck Rental to Offer Truck Rental to Apartment Residents

    HORSHAM, Pa., August 27 -- The Tenant Services Division of
GMAC Commercial Mortgage Corporation (GMACCM) has entered into an agreement
with Budget Car and Truck Rental, the third largest worldwide car and truck
rental system and a wholly owned subsidiary of Budget Group, Inc. ,
to offer local and one-way truck rentals and moving supplies to members of
GMAC Resident's Advantage(SM).  The premier program of the Tenant Services
Division, Resident's Advantage gives apartment residents the opportunity to
buy a broad range of products and services from national vendors through their
property's rental office.
    "Resident's Advantage fits well with Budget's strategy to reach one of its
key consumer targets -- the apartment resident," explained Jeff Gutowsky,
director, Truck Marketing of Budget Car and Truck Rental.  "The program is
mutually beneficial in that Budget offers residents a strong network of nearly
500 truck rental locations and a range of vehicle choices at a good value, and
in turn, Budget gains access to a growing list of potential new customers."
    "GMAC Resident's Advantage helps to attract and retain apartment renters
by presenting them with a diversity of value-added products, discounts and
convenience, while it creates revenue-generating opportunities for property
owners," noted Marion Guthrie, director of consumer products and marketing.
"We're very pleased to add Budget Car and Truck Rental, with their superior
quality, reliability and service, to a growing list of products offered
through Resident's Advantage."
    GMAC Resident's Advantage also provides access to Internet, local and long
distance telephone, cellular services, self-storage, furniture rental and
purchase, financial services, renter's insurance, newspaper subscriptions and
other valuable consumer products.
    Budget Rent a Car Corporation, a wholly owned subsidiary of Budget Group,
Inc. , is one of the world's top three car and truck rental systems.
The Budget system, which operates under the same name worldwide, has more than
3,200 airport and local market locations in over 120 countries and
territories.  Budget caters to the truck rental needs of both commercial and
consumer renters at approximately 500 locations throughout the U.S. with a
peak fleet of more than 16,500 vehicles, ranging from cargo vans to 24-foot
medium-duty trucks.
     A wholly owned subsidiary of GMAC and the industry's leading one-stop
financial resource, GMAC Commercial Mortgage Corporation provides a variety of
products and services, including long-term, interim and construction lending.
The diverse lending and servicing specialist has a commercial servicing
portfolio in excess of $48 billion, and maintains 40 offices nationwide.
GMACCM is headquartered in Horsham, Pa., a suburb of Philadelphia.

    Press releases and other information about GMAC Commercial Mortgage and
its products and services are available at http://www.gmaccm.com on the
Internet.  For GMACCM press releases by fax, call 800-758-5804, ext. 122720.