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GMAC Financial Services Names Chief Risk Officer, Chief Marketing Officer

December 11, 2007

NEW YORK – GMAC Financial Services appointed Samuel Ramsey to the newly created position of chief risk officer, effective immediately. He will be responsible 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. “Risk and treasury are critically important to the future success of our company and Sam has a proven track record in both.”

Ramsey joined GMAC in September as treasurer and will now have expanded responsibilities as chief risk officer. Prior to joining GMAC, Ramsey spent more than 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, where he held 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.

In other news, David Walker, GMAC group vice president of global borrowings, has been named GMAC treasurer, responsible for global funding activities. He will report to Ramsey.

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 has held several leadership roles in the areas of mortgage, funding, securitization, and liability management.

Additionally, A. Jay Meyerson was named chief marketing officer of the company in early November. In this newly created position, Meyerson will lead a global corporate marketing function to strengthen GMAC's image and public profile as a diversified financial services company.

Meyerson previously served as chairman and CEO of Aames Investment Corporation since 1999. He recently led integration efforts at Accredited Home Lenders, which purchased Aames in 2006. Previously, he was managing director of KPMG, a national financial services consulting practice. He served as chairman and CEO of KeyBank USA and held senior positions managing the marketing organizations at KeyBank, Society Bank, Ameritrust and Wells Fargo Bank.

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