This document provides an overview of GMAC Colombia's operations from 2003-2004. Some key points: - Volume of credit applications increased each quarter from 2002 to the first quarter of 2004. The percentage of approved applications was 67% in 2003 and 73% in the first quarter of 2004. - Credit purchases of new and used vehicles fluctuated quarterly from 2003 to the first quarter of 2004, with new vehicle purchases generally higher than used. - Total delinquency rates fell steadily from over 13% in late 2001 to under 7% in early 2004 across all delinquency periods. - Collections and repossession efforts led to decreased over 30, 60, 90 day delinquencies and reduced balances

1. Colombia
O P E R A T I O N S
2 0 0 3 - 2 0 0 4
Presented
By
Fernando R. Aceituno – B.O.M.

2. Acquisitions
2 0 0 3 – 2 0 0 4

3. 1,802
1,592
1,485
1,433
1,052
960
1,117
1,209
1,680
0
200
400
600
800
1000
1200
1400
1600
1800
2000
2002: I 2002: II 2002: III 2002: IV 2003: I 2003: II 2003: III 2003: IV 2004: I
Volume Applications Volume
Average in Quarters
2 0 0 3 - YTD 2 0 0 4

4. Approved Qualified
Applications Breakdown
2 0 0 3
Rejected
13%
Qualified
20%
Approved
67%
Applications Breakdown
2 0 0 2
Rejected
13%
Qualified
23%
Approved
64%
Applications Breakdown
First Quarter - 2 0 0 4
Approved
73%
Qualified
16%
Rejected
11%
Rejected
Credit Decisions
2002, 2003, YTD 2004

5. Credit Purchases: New & Used
Average in Quarters
2 0 0 3 - YTD 2 0 0 4
489 501
570 550
758
232 185
235 254
216
0
100
200
300
400
500
600
700
800
900
1000
2003: I 2003: II 2003: III 2003: IV 2004: I
New Used

6. • Basel II’s Credit Risk Models attributed to S.I.B. normative have already been
developed and implemented.
• Basel II’s credit risk guidelines (S.A.R.C.) will remain as GMAC Colombia’s credit cycle
cornerstone.
• Re-structuring of Acquisitions Department into two specialised analysis and
purchase operations areas:
• Risk evaluation and Control Practices were enhanced (Retail Credits and Commercial
Lending)
• Service Standards were discussed with Dealers and are currently met at 100%
• Purchases Area strengthened operational risk identification and control
• Strong Coordination between Operations Areas to administer and control credit
risk events:
• 2 years in a row with negative losses. FPD’s reduced from 120 (2001) to 16 (2002) and 8
(2003)
• Integration between all Branch Operations Areas to evaluate and control losses: FPD’s,
Dealers’ delinquency, Dealer losses, etc.
Achievements
2 0 0 2 - 2 0 0 3

7. • Act as One Company:
• Partner with GM to create retail and leasing plans aimed at increasing both GM
& GMAC Market Share.
• GM shall remain as a partner and a customer.
• Basel II: In paralell with credit analysts, follow up on credit risk models.
Bring out the best from Credit Risk Models, diminishing losses and
strengthening sales.
• Service Standards: 100% compliance with credit analysis and service
Standards already agreed with GM Dealers. DSS: 80% - 85%.
• Reciprocity Program: Support GMAC Operations – Sales/F & I
Reciprocity Program providing differentiated added value financial
services.
• Very Important... Normalise DSI to 80% - 90%!!!
Challenges
2 0 0 4 – 2 0 0 5

8. Collections & Salvage
2 0 0 3 – 2 0 0 4

9. Branch’s Total Delinquency
December 2001 – March, 2004
6.3%
0
2
4
6
8
10
12
14
16
Dec
01
Jan
Feb
M
ar
Apr
M
ay
Jun
July
Aug
Sep
Oct
NovDec
02
Jan
Feb
M
ar
Apr
M
ay
Jun
Jul
Aug
Sep
Oct
NovDec
03
Ene
Feb
M
ar
Dec
04
(T)
Percentage(%)
15-18’s
Over 90’s
61--90
31-60

10. Branch’s Total Delinquency
December 2001 – March, 2004
13.7
12.8
11.9
13.6
13.3
13.8
13.0
12.4
13.0
12.3
11.3
10.9
10.0
9.8 9.9 9.9 9.6
10.0
9.4 9.1 9.1
8.6 8.4 8.4 8.1
7.6 7.2 7.2
6.3
0
2
4
6
8
10
12
14
16
Dic-01
Jan
Feb
M
ar
Apr
M
ay
Jun
July
Aug
Sep
O
ct
NovDic-02
Jan
Feb
M
ar
Apr
M
ay
Jun
Jul
Aug
Sep
O
ct
NovDic-03
Ene
Feb
M
ar
Trgt./2004
Percentage(%)

11. Over 30’s
December 2001 – March, 2004
6.8
6.2
5.8
6.6
6.4
7.1
6.6 6.6
7.3
6.7
6.3 6.3
5.9
5.6
5.8 5.8 5.8
6.1
5.4
5.2
5.3
4.6
4.4
4.6
4.2
3.8 3.7 3.6
3.5
0
1
2
3
4
5
6
7
8 Dec01
Jan
Feb
Mar
Apr
May
Jun
July
Aug
Sep
Oct
Nov
Dec02
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec03
Ene
Feb
Mar
Dec'04(T)
Percentage(%)

12. Over 60’s
December 2001 – March, 2004
1.0
1.31.3
1.6
1.6
1.5
1.6
1.7
1.4
1.6
1.7
1.51.5
1.7
1.9
1.7
1.51.5
1.8
2.3
2.22.2
2.52.5
2.6
2.9
2.3
2.5
2.7
0
0.5
1
1.5
2
2.5
3
Dic-01
Jan
Feb
Mar
Apr
May
Jun
July
Aug
Sep
Oct
Nov
Dic-02
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dic-03
Ene
Feb
Mar
Trgt./2004
Percentage(%)

13. Over 90’s and 15-18’s
December 2001 – March, 2004
1.9
2.1
1.7
2.0
2.4
2.1 2.0 2.0 2.0 2.0 2.0 1.9
1.5
1.3 1.2 1.3 1.3 1.4 1.3
1.6
1.8 1.8
2.0
1.8
1.7 1.7 1.6 1.7
1.3
2.4 2.1
2.2
2.1
2.1
2.1
1.9
1.7
1.5 1.3
1.2
1.2
1.1
1.2
1.1
1.1 1.0
1.0
1.0
0.8
0.6 0.5
0.4
0.5
0.6 0.6
0.6
0.6
0.5
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
D
ec
01
Jan
Feb
M
ar
Apr
M
ay
Jun
July
Aug
Sep
O
ct
NovD
ec
02
Jan
Feb
M
ar
Apr
M
ay
Jun
Jul
Aug
Sep
O
ct
NovD
ec
03
Ene
Feb
M
ar
D
ec
04
(T)
Percentage(%)
Over 90`s 15'18's
15-18’s
Over 90’s

14. Transfers to 15-18
2001 – YTD April, 2004
267M
1.1MM1.1MM
2.0MM
62
Accounts
174
Accounts
190
Accounts
736
Accounts
0
500
1000
1500
2000
2500
2001 2002 2003 YTD 03/ 04
AmountinUS$/AccountsNo.
Amount Transferred (US$) Accts. transferred to 15-18
Exchange
Rates:
•12/2001: 2,291:1
•12/2002: 2,816:1
•12/2003: 2,650:1
•04/2004: 2,670:1

15. 15-18 Outstanding v/s 15-18 Recoveries
2001 – April, 2004
642M
526M
632M
2.1MM
52M
361M
642M
759M
0
500
1,000
1,500
2,000
2,500
2001 2002 2003 YTD 03/ 04
AmountinUS$
15-18 O/S (Principal) 15-18 Recoveries
Exchange
Rates:
•12/2001: 2,291:1
•12/2002: 2,816:1
•12/2003: 2,650:1
•04/2004: 2,670:1

16. Transfers to 51 v/s 51 Recoveries
2001 – March, 2004
128M
901M836M
3.6MM
291M
1.8MM1.8MM
1.4MM
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2001 2002 2003 YTD 03/ 04
AmountinUS$
Transfers to 51 51 Recoveries
Exchange
Rates:
•12/2001: 2,291:1
•12/2002: 2,816:1
•12/2003: 2,650:1
•04/2004: 2,670:1

17. Repos’ Inventory
By Legal Status
In Vol.
Custody
1%
Captured
42%
In Process
to be
Repo
3%
Ready for
Sale
1%
Sold to
3rd. Party
3%
Offered to
GMAC
1%
Court
Auction
19%
In Legal
Custody
30%
In Legal
Custody
25%
Court
Auction
15%
Offered to
GMAC
1%
Sold to
3rd. Party
3%
Ready for
Sale
2%
In Process
to be
Repo
3%
Captured
49%
Vol.
Custody
2%
2002 2003

18. Repos’ Inventory Rotation
120
240
142138
0
50
100
150
200
250
300
Status
2002 2003
2002 240 120
2003 138 142
Captured Sold

19. Total Inventory
450 494 438
260
263
355
0
100
200
300
400
500
600
700
800
900
2002 2003 03/31/2004
Country Bodega GMAC

20. Repossession Process
II: Capture of the Vehicle
1: Debtor Sued by GMAC
III: Court Legal Custody
IV: Court Auction
Sold to 3rd
. Party
Legally Offered to GMAC
Vehicle Paid to GMAC
Vehicle Ownership Transfer to GMAC Ready for Sale
II. Involuntary Surrenders
I. Voluntary Surrenders
Account Past Due
Account Not Past Due CS Contacts Branch – Offers vehicle as Payment of Obligation
Customer is Contacted by Branch Collections-Salvage Representatives
Ready for Sale
Ready for Sale

21. < 6 Pmts > 6 Pmts
No. No. Total
2003 8 134 142
2002 17 103 120
2001 25 133 158
New % Used % Total Repos Portfolio
2003 111 0.63 31 0.17 142 17,672
2002 105 0.62 17 0.1 120 16,822
2001 151 0.93 7 0.04 158 16,205
Repos Add’l Information

22. Achievements & Challenges
• Collections and Salvage became Profit Center Units.
• Positive results in losses contributed to implement a more flexible
credit policy and increased GMAC competitiveness.
• Two years achieving stretch targets in... Over 30’s, Over 60’s, Over
90’s ranges and 15-18 Outstandings, transfers to 15-18’s, Collection
expenses (–80%) and Salvage and Repo Recoveries.
• Main Challenge: Maintain positive results re-inventing
periodically Branch’s Collections and Salvage Strategies.

23. Wholesale
2 0 0 3 – 2 0 0 4

24. Wholesale Department
As of March 31th 2004
May 12, 2004
W/S Penetration increased from 88% (2002) to 94.5% (As YTD ’04)
Approved Credit Lines represent Col$136,663MM (US$51MM)
Total W/S Outstanding represents Col$110,180MM (US$41MM) (As of 03/31/04)
34 GMAC Commercial Accounts (Active GM Dealers)
Wholesale Credit Lines established at all 34 authorized GM Dealers

25. Dealer Network Overview
Dealers Dealers Total Creditlines
Classification Number US$(M) 2002 2003 YTD 2004 2002 2003 YTD 2004
Satisfactory 20 34,611 148 140 24 25 23 1
Limited 13 16,372 141 138 38 23 24 6
Programmed 1 130 10 12 3 1 2 0
Totals 34 51,113 299 290 65 49 49 7
ReviewsAudits
• “Gutierrez Dangond” remains as the only “P” Dealer, whose conversion (04/03)
was effectively closed as of 30/07/2002.
• In 2002, 21 audits were conducted to Motrix Car, GM Dealer converted as of
Feb 15, 2002. This Dealer adhered to local bankruptcy law “Ley 550”, equivalent
to US Chapter 11. Motrix Car was eliminated from the list of active Dealers in the
same year.

26. Branch’s Largest Exposures
As of March 31, 2004
May 12, 2004
Dealer W/S Credit Line
Name Classification US$,MM Reported Adjusted Reported Adjusted 2001 2002 2003 YTD '04 2001 2002 2003 2004
Los Coches S 6.4 5.2 1.4 16 9.7 6 6 8 2 0 0 0 0
Autoniza S 3.7 2.8 2.5 1.2 0.9 14 12 12 1 30 70 16 0
La Floresta L 3.7 5.3 5.1 0.7 0.5 14 14 13 3 52 116 8 6
Autolarte S 2.9 2.9 2.4 2.9 2.5 6 6 6 1 13 4 9 1
Internacional S 2.7 3.1 2.5 4.3 3.7 4 4 4 1 0 0 2 0
IrregularitiesAuditsNW NWC
2000 2001 2002 2003 YTD '04
Audits Taken 385 348 299 290 65
Irregularities 269 172 289 114 32
Ret. Checks 48 54 25 6 0(1)

27. Branch Wholesale Performance
May 12, 2004
385
348
299
290
65
289
172
269
114
32
0
50
100
150
200
250
300
350
400
450
2000 2001 2002 2003 YTD '04
Audits Conducted & Irregularities

28. Branch Wholesale Performance:
6
25
54
48
0
0
10
20
30
40
50
60
2000 2001 2002 2003 YTD '04
Returned Checks (NSF)

29. Working Capital Loans
Branch Wholesale Performance
Col$,MM US$,MM
IV Quarter 2003 3,362 1.21 1,761 630
I Quarter 2004 3,968 1.48 1,534 570
Dealer Loans Loans’ Outstanding
Col$,MM US$,M

30. Branch Wholesale Performance
7.7MM
9.0MM
21.1MM 21.4MM
0
5
10
15
20
25
Prime R.E. Securities (US$,MM)
US$
2001 2002 2003 YTD 2004
• Dealer inventories are growing as GM
pressures for Market Share (36% market-share
as YTD 12 ’03).
• GM has realised importance of partnering
with GMAC as strategic source of funds to
support Dealers’ purchases.
• GMAC is strongly supporting GM. Even
GMAC W.I.P. is based on GM objectives.
• GMAC made GM aware of having a strong,
secured and financially slacked Dealer
Network and works together with GMAC to
negotiate guarantees to further securitise the
Dealer Network.
• All Colombian Dealers are profitable with
booming new car sales. This positive business
environment represents the right time to
protect the Branch’s future negotiating
additional guarantees from Dealers.

31. • W.I.P. implementation affected positively GMAC Colombia
retail penetration
• D.S.S.: Wholesale area best service rank ever – 93%
• Interest Free Wholesale was successfully negotiated with GM,
representing GMAC US$3.8MM, in annual terms.
• Collateralization Plan continued, representing GMAC
US$10MM in additional RE securities.
• Area Re-structuring program strengthened credit risk
evaluation and control
• Wholesale Credit Risk Model was developed and
implemented to meet S.A.R.C. guidelines (Basel II)
Achievements
2 0 0 4 – 2 0 0 5

32. Challenges
2 0 0 4 – 2 0 0 5
• Offer GM continuos support and excel in service level to
GMAC’s No.1 customer and strategic partner.
– Partner with GM to increase GMAC w/s penetration and to closely monitor
all Dealer's risk & exposure in order to offer sufficient credit lines to
support GM’s most demanding market share targets.
• Negotiate maintenance of Interest Free Wholesale
• Negotiate additional incentives from GM to implement mutually
beneficial retail and leasing plans.
• Support GMAC sales, bringing out the best from W.I.P. Make
W.I.P. benefits attainable through attractive plans and
consultative practices.
• Maintain current level of Dealer Satisfaction Index of 93%
(previous survey (2001): 88%)

33. END OF PRESENTATION
Colombia
O P E R A T I O N S
2 0 0 3 - 2 0 0 4
May 12, 2004: Fernando R. Aceituno – Branch Operations Manager