Press Release

Residential Capital Corporation Names Giertz CFO

Minneapolis, Minn. - September 11, 2006 -

Residential Capital Corporation (ResCap), one of the nation's largest real estate finance companies, has named James R. Giertz as chief financial officer. Giertz joins ResCap, a wholly owned subsidiary of GMAC LLC, from Donaldson Company, Inc. (NYSE: DCI), a leading manufacturer of filtration systems and products. Giertz served as CFO for six years of this growing S&P MidCap 400 Index company and most recently led Donaldson's Commercial and Industrial Products division. Giertz succeeds Davee Olson, who was appointed senior managing director of ResCap's Warehouse Lending business unit in May 2006. Giertz' appointment becomes effective October 1, 2006.

Giertz joins ResCap with more than 23 years of experience in financial and operational management. In 1994, he joined Donaldson Company from General Motors as chief financial officer. At Donaldson Company, which employs 11,000 and operates 30 manufacturing facilities worldwide, he initially managed all finance functions (controller, treasurer, tax) as well as legal, risk management, investor relations and information systems. He assisted the company's business unit managers with acquisition strategy, target evaluation, transaction negotiation and integration. In 2000, Giertz was named senior vice president of Donaldson's Commercial and Industrial Products division. Under Giertz’ leadership, Donaldson’s Industrial business platform was transformed through several significant acquisitions, and group revenue increased by 75 percent.

Prior to joining Donaldson Company, Giertz served as assistant treasurer for General Motors Corporation. In this position, Giertz managed capital raising activity worldwide, which included equity, debt, bank, credit, and structured transactions. He also oversaw foreign currency and interest risk rate issues. His General Motors tenure included treasury positions with General Motors Europe and General Motors Canada.

"We are pleased to welcome Jim Giertz to ResCap's executive management team," said Bruce Paradis, ResCap's chief executive officer. "He brings a wealth of proven public company financial and operational experience that will be essential as our business seeks capital to grow internationally. In addition, Jim's experience will further support the financial discipline that is critical in meeting the expectations of our stakeholders."

"We are fortunate to have someone of Jim's caliber and experience joining the ResCap and GMAC finance teams," added Sanjiv Khattri, GMAC executive vice president and chief financial officer, who also serves on the board of directors of ResCap. "His leadership of the ResCap finance team will be critical as we prepare GMAC for the upcoming sale of 51% to the Cerberus led consortium, an exciting new chapter in our history."

Giertz earned an M.B.A. from Harvard Business School and a B.S. degree in mechanical engineering from Iowa State University. A resident of Eden Prairie, Minn., Giertz serves as a director on the boards of the Normandale Community College Foundation, and Junior Achievement of the Upper Midwest.

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 -- GMACRFC, GMAC Mortgage, ditech.com, GMAC Bank, GMAC 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 GMAC LLC, a global financial services company that operates in 39 countries, in auto finance, insurance and commercial finance businesses. For more information about ResCap, visit https://www.rescapholdings.com.

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