Press Release

GMAC MORTGAGE & MASTERCARD AWARD $150,000 TO SWEEPSTAKES WINNER

HORSHAM, Pa. - August 3, 2005 - GMAC Mortgage today announced that Bruce MacQueen of Arlington, VA is the winner of the GMAC Mortgage Payoff Sweepstakes Grand Prize of $150,000.

The GMAC Mortgage Payoff Sweepstakes awarded one winner a $150,000 prize to apply toward his GMAC Mortgage principal or for purposes of the winner's choosing. GMAC Mortgage Equity Rewards MasterCard® credit cardholders were automatically entered in the sweepstakes each time they used their GMAC Mortgage Equity Rewards MasterCards for qualifying transactions between August 1, 2004 and May 31, 2005.

MacQueen plans on using his winnings to pay down part of his outstanding GMAC mortgage principal balance and to help finance his family's higher education.

"I couldn't believe it when I first heard the news, but when I realized I had really won, I thought 'This is truly thrilling!' With one daughter in college, and two planning to follow soon thereafter, balancing the high costs of education and a mortgage can be tough," said Bruce MacQueen. "This prize will be extremely helpful and will help alleviate some of my family's concerns about our mortgage and education costs."

"We are happy to be able to help homeowners better manage the investment in their home, and are pleased to help the MacQueen family," commented Rick Gillespie, chief marketing officer, GMAC Mortgage. "That's the added benefit of the GMAC Mortgage Equity Rewards MasterCard® credit card – it allows consumers to take advantage of their everyday expenses to lower their mortgage principal faster to save over the life of their loan and make the best use of that savings."

The GMAC Mortgage Equity RewardsSM MasterCard®, a no-annual-fee Platinum Plus credit card issued by MBNA America Bank, N.A., helps cardholders pay down their GMAC mortgage balance by applying Equity Rewards directly to mortgage principal. Cardholders earn one point for every dollar in net retail purchases charged to the card. Each time a cardholder accumulates 2,500 points, $25 is credited automatically to the cardholder's mortgage principal with GMAC Mortgage. There is no annual limit on points and no annual limit on how many Equity Rewards can be applied to the reduction of mortgage principal. Redemption is automated and occurs once each quarter.

For more information on the GMAC Mortgage Equity Rewards MasterCard® credit card please call 1-888-393-7489.

About GMAC Mortgage
GMAC Mortgage Corporation, headquartered in Horsham, Pa., is among the nations' top ten residential mortgage servicers and originators. The company originates first and second lien residential mortgage loans through a nationwide network of retail offices, direct lending centers, and Internet sites, under the brands, gmacmortgage.com and ditech.com. GMAC Mortgage also offers custom mortgage services to GM employees and their family members, retirees and dealers through the GM Family First program. As of December 2004, GMAC Mortgage originated $89 billion in residential mortgages, representing over 588,000 transactions. The company's servicing portfolio of more than $214 billion represents nearly 2 million customers throughout the nation.

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