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 Treasury Announces Public Offering of Ally Financial Inc. TruPs


3/1/2011
WASHINGTON – The U.S. Department of the Treasury announced today that it is offering trust preferred securities (TruPs) received from Ally Financial Inc. (Ally) pursuant to the  Automotive Industry Financing Program (AIFP).  
  
Treasury currently holds approximately $2.7 billion of Ally TruPs, which were received in connection with the restructuring of its commitment to Ally (then GMAC Inc.)  announced on December 30, 2009.  All proceeds raised from this first sale would represent a partial recovery on Treasury’s investment in Ally.   
 
This offering does not include any of Treasury’s $5.9 billion of mandatory convertible preferred stock in Ally nor does it include any of Treasury’s current holdings of 74% of the shares of Ally’s common stock.
 
Citigroup, Deutsche Bank, J.P. Morgan and Morgan Stanley will act as joint lead managers for the offering.   
 
A preliminary prospectus relating to the offering was filed with the SEC on March 1, 2011, and a final prospectus, when available, will be filed by Ally with the SEC and will be available on the SEC’s website http://www.sec.gov.
 
Copies of the preliminary prospectus relating to these securities may be obtained, when available, from: Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor Brooklyn, New York 11220, by emailing batprospectusdept@citi.com, or by calling toll-free in the United States 1- 877-858-5407; Deutsche Bank Securities Inc. Attention: Prospectus Department, 100 Plaza One Jersey City, NJ 07311, by emailing prospectusrequest@list.db.com, or by calling toll-free in the United States 1-800-503-4611; J.P. Morgan Securities LLC 383 Madison Avenue, New York, NY 10179, Attn: High Grade Syndicate Desk - 3rd floor, or by calling 1-212-834-4533; or Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, by emailing Prospectus@morganstanley.com, or by calling toll-free in the United States 1-866-718-1649. Before you invest, you should read the prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the securities.
 
This news release shall not constitute an offer to sell or the solicitation of an offer to buy. 
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