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NEWS RELEASE

Pelican/GMAC Real Estate Ready To
Reshape Residential Market In London and Area

LONDON, Ont. – Pelican/GMAC Real Estate is preparing to forever change the London and area real estate community by offering one-stop shopping, and relying on a winning formula of old-fashioned service and modern technology.

General Motors – GM – one of the world’s largest companies with a presence in 190 countries, is now the parent company of Pelican/GMAC Real Estate. A GM subsidiary, GMAC – General Motors Acceptance Corporation – is a world leader in financing, boasting more than 1 million residential mortgage loan customers, and more than 142 million vehicles financed. Another GM company – GMAC Home Services – offers title, insurance, home warranty, home security and moving services. GMAC Global Relocations is geared to become the world leader in corporate relocations.

Pelican/GMAC Real Estate in London is preparing to offer all of these services. Len Fowler, broker/owner of Pelican/GMAC Real Estate, is thrilled with the new association with GMAC Real Estate. Fowler is an international marketing award winner as recognized by Pelican’s former parent company, Better Homes and Gardens.

"There have been so many changes in our industry over the years. Gone are the days of handwriting an offer on someone’s kitchen table, or the notion that marketing was merely placing a prettily worded ad in the local newspaper. Many of today’s consumers have become very knowledgeable and sophisticated. The Internet has become a major marketing tool. Come and see us at www.pelicangmac.com and e-mail us your comments."

"We are thrilled to be part of General Motors – the new owner of Better Homes and Gardens Real Estate Services. The resources of General Motors, GMAC, GMAC Mortgages, and GMAC Home Services are now behind us. Their vision to be the global leader in a new real estate industry means we will offer you more value and convenience, and it gives us the opportunity to extend our services," says Fowler.

Background: In 1995, the Better Homes and Gardens Real Estate Network selected Pelican Realty Limited (incorporated in 1990) to be its London area representative. In 1998, Meredith Corporation of Des Moines, Iowa sold Better Homes and Gardens Real Estate Network to GMAC Home Services. Meredith Corporation publishes 21 magazines, including Better Homes and Gardens, and Ladies’ Home Journal. Meredith’s Broadcasting Group consists of one NBC, four CBS and six Fox-affiliated TV stations.

Pelican/GMAC Real Estate offers both clients and its own employees the best of both worlds: the sophistication of a large corporation, and continued personable service. The headquarters at 553 Southdale Road East in London, complete with fireplace and lending library, symbolizes Pelican/GMAC Real Estate’s old-fashioned service. Yet the company relies on the latest in office technology to produce results.

Pelican/GMAC Real Estate will soon demonstrate how offering real estate services is changing in today’s high-tech world. The integration of home and vehicle purchases may open new doors. For example, home heating and cooling may be adjusted as your vehicle nears your home, and the garage door may open without pressing a remote. The blending of home mortgage financing, home insurance, vehicle financing, vehicle insurance and alarm services is on our doorstep.

There are 800 GMAC Real Estate locations across North America, approximately 42 in Canada. GMAC Home Services states, "We are excited by the potential of this opportunity. We know the Better Homes and Gardens Real Estate Service organization stands for exceptional quality performance. The addition of this high-quality real estate franchise network to GMAC Home Services business better positions us to meet our long-term strategy of offering our customers a more complete array of products and services to meet their needs."

GM’s Family First incentive program offers a huge potential client base for Pelican/GMAC Real Estate. Locally, 18,000 GM and associate employees, retirees and shareholders are offered discounts on services such as home and vehicle insurance. Pelican/GMAC Real Estate will also eventually act not only as buyer/seller agents; the London company will also provide services ranging from combined home and vehicle financing and insurance, and interior finishing services.

Husband and wife team Len and Jill Fowler are seasoned professionals. Each have more than 16 years experience in local real estate. Len is a former director with the London & St. Thomas Real Estate Board. Jill is Office Manager, and holds her M.V.A. Designation (Market Value Appraiser Residential). Pelican/GMAC Real Estate welcomes the opportunity to speak with you about their exciting changes which will again make them a leader in the local real estate community.

For additional information, contact:
Kathy Judson, VP Member Services, GMAC Real Estate (Canada)
905/851-2112; 800/661-4934