GMAC-SAIC Celebrates Third Anniversary

GMAC-SAIC Celebrates Third Anniversary

September 13, 2007

Announces Growth in Retail Credit Business of 125 percent


    SHANGHAI, China, Sept. 13 /Xinhua-PRNewswire/ --
GMAC-SAIC Automotive Finance Co., Ltd. (GMAC-SAIC), which
is celebrating the third anniversary of its founding,
announced today that its retail credit business grew 125
percent on an annual basis through August 2007, and the
operation has surpassed US $1.3 billion of assets (RMB 10
billion). 

    "Since we entered the market as a pioneer in
August 2004, GMAC-SAIC's automotive retail credit and
wholesale credit businesses have experienced tremendous
growth, and China remains a key growth market," said
GMAC-SAIC General Manager Rick Livingood.  

    Zhang Xiaojun, deputy general manager of GMAC-SAIC,
also adds, "GMAC-SAIC is by far the number one
automotive finance institution in China."

    Between January and August, GMAC-SAIC's retail credit
business grew at a rate of more than 100 percent each month
compared to the respective month in the previous year.
Through the end of August, GMAC-SAIC had signed over 79,000
retail loan contracts, with applications for automotive
retail credit loans accepted by GMAC-SAIC increasing on a
monthly basis.  GMAC- SAIC has over 350 employees. 

    GMAC-SAIC has one of the most extensive business
networks in China. As of the end of August, its retail
coverage had risen to more than 502 dealers in more than
132 cities across China. GMAC-SAIC primarily provides its
customers credit loan services for Shanghai GM's Buick,
Cadillac, Chevrolet, Saab and SAIC's Roewe brands. 

    The joint venture was providing wholesale credit
service to more than 440 car dealers in China through the
end of August, up from the 315 dealers to which it was
providing wholesale credit service at the end of August
2006. 

    "We aim to continue setting standards for the
automotive finance industry, not only in credit business
growth, but also in geographic coverage and in the
relationship with our dealer partners," Livingood
said.  "In a young market like China, constant dealer
training is crucial to business development and gives added
value to these young companies." 

    GMAC-SAIC Automotive Finance Co., Ltd. is a joint
venture between GMAC Financial Services, Shanghai
Automotive Group Finance Co., Ltd. (SAICFC) and Shanghai
General Motors. GMAC-SAIC was the first approved and
operational automotive finance company in China. 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. SAIC FC, a
subsidiary of Shanghai Automotive Industry Corp. Group, is
one of China's most successful non-banking finance
companies. 


    For more information, please contact:

    GMAC Financial Services
     Rainer Schlitt
     Tel:    + 49-6142-604-568
     Email:  [e-mail]

     Gina Proia
     Tel:    [phone]
     Mobile: [phone]
     Email:  [e-mail]