GMAC Commercial Mortgage Receives Highest Special Servicer Rating Of `CSS1' From Fitch IBCA, Duff & Phelps.

Business Editors

HORSHAM, Pa.--(BUSINESS WIRE)--June 22, 2001

In a testament to "its proven ability to specially service and resolve assets that secure commercial mortgage backed securities (CMBS) transactions," GMAC Commercial Mortgage Corporation (GMACCM) has received an affirmation of its `CSS1' Commercial Mortgage Special Servicer rating from Fitch IBCA, Duff & Phelps, one of the world's preeminent ratings agencies.

Fitch noted that it had again extended its highest rating to GMACCM based on its "highly experienced senior management team and the company's strong emphasis on technology, extensive employee training and commitment to add staff in the anticipation of rising defaults."

GMACCM currently is named special servicer on 129 transactions with a balance of over $58 billion. As of June 1, 2001 GMACCM was specially servicing 102 CMBS assets totaling $642.2 million.

With a total portfolio of commercial/multifamily property assets serviced in excess of $104 billion, GMACCM is active in all areas of loan servicing. In Special Servicing alone, the company performs everything from cash administration, asset duplication and default management to workouts and foreclosures.

"We are very pleased to have earned reaffirmation of our top-level CSS1 rating from Fitch IBCA," stated John Maute, Senior Vice President and Managing Director of GMACCM's Asset Management group. "While we are fortunate that default rates in the U.S. have been historically low, GMACCM has been able to completely satisfy Ratings Agency concerns about loss of workout expertise during good economic times. We maintain our superior level of training in-house in part through acquiring and special-servicing selected distressed assets in the international and US underwriting arena."

In addition to its servicing headquarters in Horsham, GMACCM has U.S. servicing centers in Chicago, Richmond and Dallas. The company also has global servicing operations abroad, with centers in Toronto, Canada; Mullingar, Ireland; and Tokyo, Japan.

GMAC Commercial Mortgage, is the leading one-stop financial resource in U.S. real estate capital markets and has operations in Europe, Canada and Japan. This diversified lending and servicing specialist has more than 60 offices in the U.S., and is an industry leader in loan origination, servicing, asset management and securitization of commercial mortgages.

GMACCM originated nearly $15 billion in commercial mortgage loans in 2000.