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NEW YORK (Dec. 5, 2007) -- GMAC Financial Services today announced that Samuel Ramsey has been appointed to the newly created position of chief risk officer, effective immediately. In this role, he will have responsibility for global risk management and treasury activities including funding and balance sheet management. He will report to GMAC Chief Operating Officer Al de Molina.

"Sam brings extensive finance and risk management experience to GMAC and we are pleased to appoint him to this new role," said de Molina. "As GMAC crosses the one-year mark as a standalone organization, we continue to strengthen and broaden the management team to suit the size and scope of our business. Risk and treasury are critically important to the future success of our company and Sam has a proven track record in both."

David Walker, GMAC group vice president of global borrowings, has been named GMAC treasurer. In this role, he has responsibility for global funding activities and reports to Ramsey.

Ramsey joined GMAC in September of this year as treasurer and will now have expanded responsibilities as chief risk officer. Prior to joining GMAC, Ramsey spent over 25-years at Bank of America Corporation, most recently serving as chief financial officer of global corporate and investment banking. Prior to his role in finance, Ramsey was a member of the risk management organization holding several positions including chief risk officer for consumer and small business banking, chief risk officer for commercial banking, and enterprise credit and market risk executive. He holds a bachelor of arts in economics from the College of William and Mary.

Walker has led the global borrowings group at GMAC since 2006. Prior to that, he served as chief financial officer of GMAC's mortgage group. He joined GMAC in 1985 and during his tenure held several leadership roles in the areas of mortgage, funding and securitization, and liability management.

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 about 31,000 people worldwide. At Dec. 31, 2006, GMAC held more than $287 billion in assets and earned net income for 2006 of $2.1 billion on net revenue of $18.2 billion. For more information, go to http://www.gmacfs.com/.

Contact:
Gina Proia
917-369-2364
gina.proia@gmacfs.com