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LONDON (June 22, 2009) -- GMAC Commercial Finance (GMAC CF) has backed the management buyout of European Recruitment Network Group (ERN) by Redwood Group Ltd. ERN is a £50 million recruitment group specialising in healthcare and professional and technical temporary staff.

Demonstrating its commitment to supporting U.K. businesses, GMAC CF provided a £5 million Confidential Invoice Discounting facility to complete the transaction, repaying in full the balance due to ERN’s bank and providing working capital for the new group.

"The Redwood Group chose GMAC CF, from a number of asset-based lenders, to provide the company's Confidential Invoice Discounting for their proven ability to quickly understand the Group's business plan and deliver on timescales," said Redwood Group Chairman and Chief Executive Officer John Cariss.

About GMAC Commercial Finance
GMAC Commercial Finance (GMAC CF) is a market-leader providing innovative financing solutions to small, middle-market companies and large corporations. Our range of facilities includes multi-jurisdictional asset-based lending; retail inventory finance; recourse and non-recourse invoice discounting and factoring; and international trade solutions to support refinancing, growth, acquisition and recapitalisation. GMAC CF is part of GMAC Financial Services, a bank holding company with operations in North America, South America, Europe and Asia-Pacific. GMAC specializes in automotive finance, mortgage operations, insurance, commercial finance and online banking. As of March 31, 2009, the company had approximately $180 billion in assets and serviced 15 million customers around the world. Visit the GMAC media site at http://media.gmacfs.com for more information.

Contact:
Kelly Rionda
313-656-6993
Kelly.rionda@gmacfs.com