GMAC-RFC NINTH UK NON-CONFORMING SECURITISATION

GMAC-RFC COMMENCES MARKETING ITS NINTH UK NON-CONFORMING SECURITISATION RMAC 2002 - NS2 APROXIMATELY £525M STERLING DEAL Approximately £140,000,000 mortgage-backed floating rate notes- A1 tranche Approximately £332,500,000 mortgage-backed floating rate notes- A2 tranche Approximately £52,500,000 mortgage-backed floating rate notes - A3 tranche GMAC-RFC Limited (GMAC-RFC), the UK's number one sub-prime mortgage lender owned by the General Motors Acceptance Corporation (GMAC) group of companies, has closed its latest UK non-conforming securitisation lead-managed by Bear Stearns International Limited. The issue is co-led by RFSC International Limited, GMAC-RFC's broker-dealer, and co-managed by Barclays Capital, Deutsche Bank and ING. The Notes are made up of a portfolio of UK residential non-conforming mortgage loans originated by GMAC-RFC Limited. This is the ninth issuance of loans originated by GMAC-RFC in the UK MBS market and the paper, which has been issued in three tranches, has been given an overall triple-A rating by Moody's Investors Service and Standard & Poors. The credit enhancement structure used here is similar to that used in the previous four in that it incorporates 50 bps over-collateralisation and the use of an Ambac financial guarantee. The sequential pay structure incorporates a detachable coupon associated with the A3 class of notes. Stephen Hynes, Capital Markets Director at GMAC-RFC Limited, commented: "We are delighted to be in the market again this year and this is due to the continued high business volumes. Consequently we have seen good investor appetite. GMAC-RFC has firmly established itself in the UK MBS market and we are greatly encouraged by the significant demand for our paper amongst the Sterling MBS investor base. The use of Ambac monoline insurance continues to help us avoid the illiquid subordinate market." GMAC-RFC Limited is part of the General Motors Acceptance Corporation (GMAC) group of companies. The company specialises in providing mortgage finance for the UK residential market and is the UK's number one sub- prime mortgage lender. GMAC-RFC is America's largest private label issuer of mortgage-backed securities and home equity loan asset-backed securities. The company leverages its strengths in securitisation, lending and investment to offer a broad portfolio of innovative capital solutions. GMAC-RFC is headquartered in Minneapolis and operates in the United States, Europe, Latin America and Japan. www.gmacrfc.com For further information contact: Stephen Hynes Gina Collman Capital Markets Director Head of Corporate Communications GMAC-RFC Limited GMAC-RFC Limited Tel: 01344 478077 Tel: 01344 478109 NOTES FOR EDITORS GMAC-RFC GMAC-RFC, a wholly owned subsidiary of GMAC Financial Services, is a leading private issuer of mortgage-backed securities and home equity loan asset-backed securities, and the No. 1 warehouse lender in the United States. The company leverages its strengths in securitisation, lending and investment to offer a broad portfolio of innovative capital solutions. The company is headquartered in Minneapolis and operates in the United States, Europe and Latin America. www.gmacrfc.com In the UK, GMAC-RFC is an all-status lender which advances mortgages under the GMAC Residential Funding brand. It specialises in creating and trading mortgage assets through securitisation, and portfolio sales and acquisitions. GMAC Residential Funding completed more mortgages in May 2002 alone than the whole of 1999. It originated a total of £1.8 billion in mortgage loans in 2001 and is predicting £2.5 billion for 2002 and aiming for £5 billion by the end of 2005. www.gmacrfc.co.uk GMAC-RFC, with a total market share of 1.1%, is now ranked as the UK's 14th largest lender (up from 23rd position a year ago) by gross mortgage lending according to figures published by the Council of Mortgage Lenders. Its position as the No.1 sub-prime lender is measured by gross advances on a first charge basis to MCCB registered brokers on 2001 year lending figures. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/09/06/20020906BIT00720/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/06/20020906BIT00720/wkr0002.pdf