GE Capital offers new consumer access to automotive leasing information through DealerNet; streamlines process for approval

Business Wire, April 1, 1996

ORLANDO, Fla.--(BUSINESS WIRE)--April 1, 1996--Consumers will soon be able to utilize the Internet to download a leasing application from their home or office PC from GE Capital Auto Financial Services. The new service will be available through an agreement with Reynolds and Reynolds, utilizing Reynolds' DealerNet(R) service, the leading source of automotive information on the Internet's World Wide Web. One of GE Capital Services' 26 businesses, Auto Financial Services is a leading non-captive auto financier in the United States.

After accessing DealerNet's home page at http://www.dealernet.com, the consumer clicks the Finance and Leasing icon of the DealerNet home page. The consumer will then be able to access a leasing application and partially complete it on-line, print the application out and bring it to a participating GE Capital automobile dealer. As part of the service, there will be a list of approved GE Capital dealers. In addition, consumers can access general leasing information and a lease-versus-buy comparison guide. In the near future, the service will enable the dealer to complete the consumer's application on-line and electronically submit it to GE Capital, and a lease payment calculator will be included as well.

"As a leading provider of automotive financial services, we continually look for ways to make it easier for our customers to apply for financing. A growing number of consumers are using the Internet as a source of information. And the DealerNet service has become the premier site for the car-buying public. The convenient access through DealerNet and GE Capital will greatly streamline that process and ensure the consumer a quick lease approval," said John Kramer, GE Capital vice president of Marketing.

"The partnership with GE Capital is another step forward for Reynolds toward our vision of making the automotive retail experience easier and more satisfying for consumers. This will also greatly benefit our dealer customers by directing highly qualified prospects through their stores," said Jeff Wise, vice president, Reynolds' Information Services.

GE Capital, a wholly owned subsidiary of General Electric Company, is a diversified financial services company headquartered in Stamford, Conn. GE Capital's activities include equipment management, mid-market financing, specialized financing, specialty insurance and consumer services. GE is a diversified manufacturing, technology and services company with operations worldwide.

Reynolds and Reynolds, headquartered in Dayton, Ohio, is a leading provider of integrated information management systems and related value-added services to automotive, healthcare and general business markets. The company reported fiscal 1995 revenues of $911 million. For more information on Reynolds and Reynolds, visit the company's World Wide Web site on http://www.reyrey.com.

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CONTACT: Reynolds and Reynolds, Dayton

Ann Slakter, 513/449-4214

ann_slakter@reyrey.com

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Janet Brewer, 513/449-4215

janet_brewer@reyrey.com