GMAC Financial Services Honors 2008 Presidential Scholars

WASHINGTON, June 23 /PRNewswire/ -- GMAC Financial Services will join the White House Commission on Presidential Scholars, the U.S. Department of Education and the non-profit Presidential Scholars Foundation this week to honor a select group of distinguished high school seniors during the Presidential Scholars' National Recognition Week.

This year 139 American high school seniors were chosen from more than 3,000 qualified candidates as Presidential Scholars for demonstrated exceptional academic achievement, artistic excellence, leadership, citizenship and service at school and in their community.

GMAC is the primary sponsor of the weeklong leadership development program offered to these scholars, which includes educational and cultural events, special performances by the arts scholars at the Kennedy Center, and culminates in a White House-sponsored award ceremony.

"We are proud to support National Recognition Week as it celebrates the accomplishments of these scholars and encourages them to use their gifts and energies to strengthen communities," said Sharon Sayles Belton, director of community relations for GMAC. "This is an incredibly gifted group of scholars and we are happy to honor our country's future leaders."

In addition to sponsoring National Recognition Week, GMAC will provide an opportunity for these scholars to gain valuable financial advice through a GMAC SmartEdge financial literacy seminar.

"Many of these students will be leaving home for the first time this fall and will be taking on more responsibility for their financial decisions," says Belton. "We want to help provide them with the knowledge to make smart decisions to ensure a solid financial future."

GMAC is committed to providing students and adults with financial literacy opportunities through its GMAC SmartEdge financial education program, which is designed to help consumers make informed financial decisions by improving people's understanding of credit, budget, vehicle and home financing, banking, and insurance. GMAC SmartEdge promotes financial literacy through its Web site, www.SmartEdgebyGMAC.com, and by hosting seminars across the country.

GMAC has been a proud sponsor the Presidential Scholars program for more than a decade, contributing more than $2 million to support the program.

About GMAC Financial Services

GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and employs approximately 26,700 people worldwide. For more information, go to www.gmacfs.com .