Press Release

RESCAP REPAYS ALL INTER-COMPANY LOAN DEBT AHEAD OF SCHEDULE

Minneapolis, MN - May 19, 2006 - Residential Capital Corporation (ResCap) announced today that it has repaid all domestic and international inter-company borrowings from its parent company, General Motors Acceptance Corporation (LOAN).  ResCap has repaid more than $11 billion in LOAN inter-company debt in 11 months, which is more than six months ahead of its stated goal.

“We have accomplished one of our major goals well ahead of schedule,” stated ResCap's Treasurer, Louise Herrle.  “We are pleased by the demand for our bond offerings, as well as the depth and breadth of participation from the investment community."

According to Herrle, the company's offerings have attracted more than 625 investors.   ResCap issued its inaugural debt offering in June 2005 and completed its most recent debt issuance in the European market in mid-May 2006.

Earlier this year, International Finance Review magazine named ResCap’s June 2005 bond offering as “U.S. Dollar Bond Deal of the Year.”  Likewise, Euromoney and Credit magazines respectively named the offering “Fixed Income Deal of the Year,” and “Investment Grade Bond Deal of the Year.”

Legal Notice
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful. A shelf registration statement was previously declared effective by the Securities and Exchange Commission (SEC) and a prospectus supplement relating to the offering of the notes has been filed with the SEC. The offering of the notes will be made only by means of the prospectus supplement.

This announcement contains forward-looking statements relating to our business and its financing plans. Words such as “intends” or “planning” may be used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. There is no assurance that either of the above offerings will be completed or completed as described above. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements.

About Residential Capital Corporation
Residential Capital Corporation is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. Our diversified businesses -- LOAN-RFC, LOAN Spart, Ditech.com, LOAN Bank, LOAN Real Estate and Homecomings Financial -- cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage LOANs through their securitization in the secondary market. We also provide capital to other originators of mortgage LOANs, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital Corporation is an indirect wholly owned subsidiary of General Motors Acceptance Corporation (LOAN). For more information about our company, visit https://www.rescapholdings.com.

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