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GMAC AND MIC ELECT TWO NEW BOARD MEMBERS

 GMAC AND MIC ELECT TWO NEW BOARD MEMBERS
 DETROIT, April 30 /PRNewswire/ -- Robert T. O'Connell, senior vice


president of General Motors (NYSE: GM) and chairman-elect of General Motors Acceptance Corporation (GMAC), announced today that the GMAC and Motors Insurance Corporation (MIC) boards of directors have elected William E. Hoglund and J. Michael Losh to their respective boards.
 Hoglund is executive vice president and chief financial officer of General Motors Corporation, and Losh is vice president and group executive, GM North American Vehicle Sales and Marketing. The addition of Hoglund and Losh increases the GMAC board to 11 members and the MIC board to 15 members.
 GMAC/MIC and its various subsidiaries constitute one of the largest financial services companies in the world and have contributed more than $1 billion to General Motors consolidated net income in each of the last seven years.
 "The expertise and perspective to be brought to the GMAC and MIC boards by Mr. Hoglund and Mr. Losh will provide valuable counsel, especially in our core business of financing and leasing GM cars and trucks," stated Mr. O'Connell. "It will further enhance GMAC's and MIC's ability to provide quality financial services and products to GM dealers and their customers."
 In addition to Hoglund and Losh, the 11-member GMAC board includes three other members from General Motors Corporation, the parent company of GMAC:
 -- Leon J. Krain, vice president and group executive in charge of finance
 -- W. Gordon Binns Jr., vice president and chief investment funds officer
 -- Charles E. Golden, treasurer
 The board has four members from GMAC management:
 -- O'Connell, chairman and chief executive officer
 -- William J. Lovejoy, president and chief operating officer
 -- George G. Fenner, executive vice president and chief financial officer
 -- Gene P. Whitlinger, executive vice president, Operations
 Other members of the GMAC board are:
 -- Joseph J. Pero, president, Motors Insurance Corporation
 -- Geoffrey C. Thomas, president, GMAC Mortgage Corporation
 The MIC board is comprised of the foregoing individuals (except Whitlinger and Thomas), and also the following:
 -- Edward J. Johanson, director of fixed income investments, General Motors Investment Management Corporation
 -- Heidi Kunz, assistant treasurer, General Motors Corporation
 -- R. Paul Maddock, director of risk management, General Motors Corporation
 -- William B. Noll, group vice president, Motors Insurance Corporation
 -- Vincent K. Quinn, executive vice president, Motors Insurance Corporation
 -- Donald P. Redmond, president, National General Insurance Company
 GMAC/MIC and its various subsidiaries provide financial services and products to approximately 14,600 GM dealers worldwide.
 -0- 4/30/92
 /CONTACT: Lynda Kosinski of GMAC, 313-556-1022/
 (GM) CO: General Motors Acceptance Corporation; Motors Insurance Corporation ST: Michigan IN: AUT INS SU: PER


KK -- DE025 -- 5094 04/30/92 15:51 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
Words:438
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