Pricing Supplement Dated July 23, 1997 Rule 424(b)(3)
(To Prospectus Dated December 19, 1996) File No. 333-17943
GENERAL MOTORS ACCEPTANCE CORPORATION
Medium-Term Notes - Floating Rate
____________________________________________________________________________
Agent: Lehman Brothers
Principal Amount: $100,000,000
Agent's Discount
or Commission: $75,000
Net Proceeds to Company: $99,925,000
Initial Interest Rate: Reset on the Issue Date (also an Interest
Reset Date).
Issue Date: 7/28/97
Maturity Date: 7/28/98
____________________________________________________________________________
Calculation Agent: GMAC
Interest Calculation:
/X/ Regular Floating Rate Note
Interest Rate Basis: / / CD Rate / / Commercial Paper Rate
/X/ Prime Rate / / Federal Funds Rate
/ / LIBOR (see below) / / Treasury Rate
/ / Other
(see attached)
If LIBOR, Designated LIBOR Page / / Reuters Page: / / or
/ / Telerate Page: 3750
Interest Reset Dates: Each Business Day to but excluding the Maturity Date,
except as otherwise described herein.
Interest Payment Dates: Each January 28, April 28, July 28, and October 28
commencing October 28, 1997 and ending July 28, 1998.
Index Maturity: (See Below)
Spread (+/-): (See Below)
Day Count Convention:
/X/ Actual/360 for the period from 7/28/97 to 7/28/98
/ / Actual/Actual for the period from / / to / /
/ / 30/360 for the period from / / to / /
Redemption:
/X/ The Notes cannot be redeemed prior to the Stated Maturity Date.
/ / The Notes may be redeemed prior to Stated Maturity Date.
/ / Initial Redemption Date:
Initial Redemption Percentage: ___%
Annual Redemption Percentage Reduction: ___% until Redemption
Percentage is 100% of the Principal Amount.
Repayment:
/x/ The Notes cannot be repaid prior to the Maturity Date.
/ / The Notes can be repaid prior to the Maturity Date at the option of
the holder of the Notes. (See Below)
/ / Optional Repayment Date(s):
Repayment Price: %
Currency:
Specified Currency: U.S. (If other than U.S. dollars, see attached)
Minimum Denominations: ___________ (Applicable only if Specified
Currency is other than U.S. dollars)
Original Issue Discount: / / Yes /X/ No
Total Amount of OID: Yield to Maturity:
Initial Accrual Period:
Form: /X/ Book-Entry / / Certificated
INTEREST RESET
Reset Periods. A "Reset Period" shall mean each of the following
periods; Daily from and including July 28, 1997 to, but excluding, the
stated Maturity Date of the Notes.
Interest Rate. The per annum rate of interest for each Reset Period
will be (i) The Prime Rate (as defined in the accompanying Prospectus) plus
(ii) a spread (the "Spread"), determined as described above. The Spread will
be minus 290 basis points. The Interest Rate during each Reset Period will
reset each Business Day (each an "Interest Reset Date") to but excluding the
Maturity Date, provided however, the Interest Rate in effect for the two
Business Days preceding each Interest Payment Date will be the Interest Rate
in effect on the second Business Day preceding such Interest Payment Date.
The Interest Determination Date with respect to each Interest Reset Date
will be the Business Day immediately preceding such Interest Reset Date. The
Interest Payment Dates, with respect to each Reset Period will be on each
January 28, April 28, July 28, and October 28, with the first Interest
Payment Date being October 28, 1997.
Except as may otherwise be specified with respect to any subsequent
Reset Period, interest payable on the Notes will include interest accrued
from and including the Issue Date or from and including the last Interest
Payment Date to which interest has been paid to, but excluding, the next
succeeding Interest Payment Date, or Maturity Date, as the case may be.
The Calculation Agent will, upon the request of the holder of any
Notes, provide the interest rate then in effect. All calculations made by
the Calculation Agent in the absence of manifest error shall be conclusive
for all purposes and binding on the Company and the holders of the Notes.
PLAN OF DISTRIBUTION
Lehman Brothers has purchased the Notes as principal at a price equal
to 99.925% of the aggregate principal amount for resale to investors and
other purchasers at a price equal to 100% of the principal amount thereof.
After the initial public offering, the public offering price and concession
may be changed.
U.S. FEDERAL INCOME TAXES
THE UNITED STATES FEDERAL INCOME TAX CONSEQUENCE DESCRIBED ABOVE IS
INCLUDED FOR GENERAL INFORMATION ONLY AND MAY NOT BE APPLICABLE DEPENDING
UPON A HOLDER'S PARTICULAR SITUATION. HOLDERS SHOULD CONSULT THEIR OWN TAX
ADVISORS WITH RESPECT TO THE TAX CONSEQUENCES TO THEM OF THE OWNERSHIP AND
DISPOSITION OF THE NOTES.
