Press Room

CARLSON GMAC REAL ESTATE ACQUIRES EDMUND G. WOODS COMPANY

Move Gives Hampden and Hampshire Area Consumers Access to an Even Wider Array of Home Buying and Selling Services

Woburn, Mass. (July 22, 2005) - Carlson GMAC Real Estate announced today that it has acquired the assets of Edmund G. Woods Company, giving homebuyers and sellers in the Hampden and Hampshire county area access to an even greater array of home buying and selling services.

"We're extremely pleased to have such a highly respected local firm join the GMAC Real Estate family," said Joe Capriotti, president and CEO of the company-owned real estate operations of GMAC Home Services, Inc., for Central New England. This includes Carlson GMAC Real Estate, Kinlin Grover GMAC Real Estate, and Hammond GMAC Real Estate.

"Adding such an outstanding company and its distinguished team of sales associates demonstrates our commitment to expanding our presence in this market. And it shows our commitment to providing the highest level of service, via our Premier Service® program, to consumers in the Hampden and Hampshire county area."

Gill Woods, owner of Edmund G. Woods Company, said that he and all of his sales associates will continue providing the high levels of service the company has been known for over the past 50 years. Founded by Woods' father in 1953, the Edmund G. Woods Company has grown to become the leader in the Holyoke market. Gill Woods is a former president of the National Association of Realtors, an international trade association with over a million members.

Carlson GMAC Real Estate, which operates 36 offices that provide the full gamut of services, including real estate brokerage, mortgage, home warranty, title and closing services throughout Massachusetts and New Hampshire, is part of the nation's fifth-largest real estate network.

"By joining Carlson GMAC Real Estate, we reaffirmed our commitment to bring our customers the very best services possible with the same staff, same location and same dedication to service," said Gill Woods. "Now, our sales associates will be able to tap into the best client tools and programs in the industry as they offer home buyers and sellers additional services, including mortgages, home warranties and improved technology."

Home buyers and sellers in the Hampden and Hampshire county area will be able to take advantage of what is widely considered North America's most comprehensive and innovative customer service program, Premier Service. Launched in 2002, GMAC Real Estate's Premier Service program promises consumers consistent and measurable levels of service that are virtually unmatched by any other major real estate firm.

For example, Carlson GMAC Real Estate agents put in writing, up front, the services they will perform on their customers' behalf. Through Premier Service, GMAC Real Estate takes the unprecedented step of asking its customers, via an independent survey, to honestly rate the performance of their sales agents - and by reflection, the national company itself. Since Premier Service's introduction, the company has received an unprecedented customer satisfaction rating of more than 94 percent.

Edmund G. Woods Co. will change its office and yard signs to reflect its new name, Carlson GMAC Real Estate, in the coming weeks.

Additional information, including thousands of homes for sale, can be found at http://www.carlsonre.com/.

About GMAC Home Services' Company-Owned Business Unit

The company-owned real estate unit, a division of GMAC Home Services, has nearly 100 offices and 3,500 real estate professionals nationwide. Company-owned offices are located in major metropolitan markets including the San Francisco Bay Area, Chicago, metro New York, and throughout Central New England.

About Company-Owned New England Operations

The company-owned real estate operations for Central New England are organized under Eastern Massachusetts Real Estate, Inc., a wholly-owned subsidiary of GMAC Home Services, Inc. Based in Woburn, Massachusetts, it is one of the nation's largest real estate brokerage organizations, proudly delivering Premier Service to home buyers and sellers through a 57 office network serving Central New England. Its real estate network includes Carlson GMAC Real Estate, servicing most of Massachusetts and Southern New Hampshire; Kinlin Grover GMAC Real Estate on Cape Cod; and Hammond GMAC Real Estate in Greater Boston.