LANSING - Governor Jennifer M. Granholm today issued the following statement on GMAC:

"I am heartened by yesterday's U.S. Treasury announcement on GMAC. It is yet another strong signal that our government is willing to do whatever it takes to ensure the long-term viability of the U.S. auto industry. The announcement creates stability and certainty for both GM and Chrysler dealers and provides credit opportunities for people interested in buying new GM and Chrysler products. Coupled with yesterday's announcement by the UAW that it reached a tentative agreement with the Treasury Department and GM on contract and trust fund changes, this is positive news for the long-term viability of GM and Chrysler."

# # #