GMAC Commercial Finance Provides Pounds Sterling 5 Million in the Management Buyout of the European Network Group

LONDON - GMAC Commercial Finance (GMAC CF) has backed the management buyout of European Recruitment Network Group (ERN) by Redwood Group Ltd. ERN is a pounds Sterling 50 million recruitment group specialising in healthcare and professional and technical temporary staff.

Demonstrating its commitment to supporting U.K. businesses, GMAC CF provided a pounds Sterling 5 million Confidential Invoice Discounting facility to complete the transaction, repaying in full the balance due to ERN’s bank and providing working capital for the new group.

“The Redwood Group chose GMAC CF, from a number of asset-based lenders, to provide the company’s Confidential Invoice Discounting for their proven ability to quickly understand the Group’s business plan and deliver on timescales,” said Redwood Group Chairman and Chief Executive Officer John Cariss.

About GMAC Commercial Finance

GMAC Commercial Finance (GMAC CF) is a market-leader providing innovative financing solutions to small, middle-market companies and large corporations. Our range of facilities includes multi-jurisdictional asset-based lending; retail inventory finance; recourse and non-recourse invoice discounting and factoring; and international trade solutions to support refinancing, growth, acquisition and recapitalisation. GMAC CF is part of GMAC Financial Services, a bank holding company with operations in North America, South America, Europe and Asia-Pacific. GMAC specializes in automotive finance, mortgage operations, insurance, commercial finance and online banking. As of March 31, 2009, the company had approximately US$180 billion in assets and serviced 15 million customers around the world. Visit the GMAC media site at media.gmacfs.com for more information.

Contact: Kelly Rionda Kelly.rionda@gmacfs.com +1-313-656-6993

Source: GMAC Commercial Finance

Kelly Rionda of GMAC Commercial Finance, +1-313-656-6993, Kelly.rionda at gmacfs.com