Ally Financial Completes Sale of Canadian Operations

             Ally Financial Completes Sale of Canadian Operations

PR Newswire

DETROIT, Feb. 1, 2013

DETROIT, Feb. 1, 2013 /PRNewswire/ --Ally Financial Inc. (Ally) today
announced that the sale of its Canadian auto finance operation, Ally Credit
Canada Limited, and ResMor Trust to Royal Bank of Canada (RBC) has been
completed. Ally received $4.1 billion USD for the business in the form of a
$3.7 billion payment at closing and $400 million of dividends paid following
the announcement of the transaction. Total proceeds represent a premium to
book value of approximately $620 million.

"This marks a significant point of progress in our strategic plans to further
strengthen Ally and best position the company to return additional capital to
the U.S. Treasury," said Ally Chief Executive Officer Michael A. Carpenter.
"This is the first of the international transactions to be completed, and we
are encouraged by the progress we are making on the remaining sale
processes."

Carpenter continued, "We continue to be focused on successful execution of our
remaining strategic actions, which will enable Ally to further strengthen and
grow our leading U.S.-based automotive services and direct banking
franchises."

In October 2012, Ally announced the agreement to sell its Canadian
operations. Also in October, the company reached an agreement to sell its
Mexican insurance subsidiary, followed by an agreement in November to sell its
automotive finance operations in Europe, Latin America and a joint venture
stake in China. The remaining transactions are expected to close throughout
2013.

About Ally Financial
Ally Financial Inc. is a leading automotive financial services company powered
by a top direct banking franchise. Ally's automotive services business offers
a full suite of financing products and services, including new and used
vehicle inventory and consumer financing, leasing, inventory insurance,
commercial loans and vehicle remarketing services. Ally Bank, the company's
direct banking subsidiary, offers an array of deposit products, including
certificates of deposit, savings accounts, money market accounts, IRA deposit
products and interest checking. Ally's Commercial Finance unit provides
financing to middle-market companies across a broad range of industries.

With approximately $182 billion in assets as of Sept. 30, 2012, Ally operates
as a bank holding company. For more information, visit the Ally media site at
http://media.ally.com or follow Ally on Twitter: @Ally.

Contact:
Gina Proia
646-781-2692
gina.proia@ally.com

SOURCE Ally Financial
 
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