ResCap Announces Extension of the Early Tender Time of its Cash Tender Offer for Up to $750 Million Aggregate Principal Amount of its Debt Securities

MINNEAPOLIS, Dec. 6 /PRNewswire/ — Residential Capital, LLC (ResCap) today announced an extension of the early tender time for its previously announced cash tender offer for up to $750 million aggregate principal amount of its Floating Rate Notes due June 9, 2008, Floating Rate Notes due Nov. 21, 2008, 6.125 percent Notes due Nov. 21, 2008 and Subordinated Floating Rate Notes due April 17, 2009 (the notes).

The new early tender time is 5:00 p.m. EST on Dec. 12, 2007, unless extended by ResCap in its sole discretion. Holders must validly tender their notes prior to the early tender time in order to be eligible to receive the early tender premium of $30 per $1,000 principal amount of notes, which is included in the total consideration offered in the tender offer. The withdrawal deadline has not been extended and, accordingly, notes tendered in the tender offer may no longer be withdrawn. The tender offer expiration time remains 12:00 midnight EST on Dec. 19, 2007, unless extended by ResCap in its sole discretion.

The tender offer is conditioned on the satisfaction of certain conditions. If any of the conditions are not satisfied or waived, ResCap is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event, subject to applicable laws, and may terminate the tender offer.

The terms and conditions of the tender offer are described in detail in the Offer to Purchase dated Nov. 21, 2007, and the related Letter of Transmittal and, except as described above, the terms and conditions of the tender offer set forth therein remain unchanged.

Banc of America Securities LLC and Citi are the dealer managers for the tender offer. Global Bondholder Services Corporation is the information agent and depositary. Deutsche Bank Luxembourg S.A. is the Luxembourg tender agent for the tender offer. Persons with questions regarding the tender offer should contact the dealer managers: Banc of America Securities LLC toll-free at (866) 475-9886 or collect at (704) 386-3244 and Citi toll-free at (800) 558-3745 or collect at (212) 723-6106, or the information agent, toll-free at (866) 294-2200.

This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the notes. The offer to buy the notes is only being made pursuant to the tender offer documents, including the Offer to Purchase and the related Letter of Transmittal, as modified hereby. The tender offer is not being made to holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the tender offer to be made by a licensed broker or dealer, the tender offer will be deemed to be made on behalf of ResCap by one or more of the dealer managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

Residential Capital, LLC is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe, Latin America and Australia. ResCap's diversified businesses — GMAC- RFC, GMAC Mortgage, ditech.com, 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. It also provides capital to other originators of mortgage loans, residential real estate developers and resort and timeshare developers. Residential Capital, LLC is an indirect wholly owned subsidiary of GMAC Financial Services.

SOURCE Residential Capital, LLC

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