GE Financial Network Adds Online Banking Through CompuBank to Its Internet-based Financial Services Resource Center

Business Wire, April 25, 2000

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--April 25, 2000

GE today announced it has partnered with CompuBank(R), the No. 1 rated bank online by SmartMoney, to offer full-service banking to its clients in addition to the extensive array of financial products and services available on the GE Financial Network (www.gefn.com). GEFN is an easy-to-use, Web-based financial services network designed to give consumers a simple, convenient and comprehensive way to help manage their personal financial needs.

Through CompuBank, GEFN consumers have all the benefits of traditional banking delivered directly to their computer in real time, 24-hours a day. This relationship will allow customers to establish checking, savings and money market accounts; write checks; and access funds through automated teller machines (ATMs). In addition, consumers can arrange direct-deposits and electronic fund transfers; re-order checks online; and take advantage of complementary benefits such as domestic wire service and bill paying features. CompuBank also offers Certificates of Deposit and Visa(R) check cards.

"By adding banking to our existing breadth of offerings, GEFN continues to give consumers the best financial products and services to meet all of their financial needs," says Bill Goings, Senior Vice President of e-Business and Leader of GE Financial Network. "We chose CompuBank as our banking provider because of its focus on harnessing the convenience of the Internet and its ability to provide a secure environment."

"Our proprietary banking platform allows us the flexibility to meet the needs of GE's unique website environment," explained Frank Goldberg, Chairman and CEO of CompuBank. "We are pleased to be supplying our engine to GEFN, the premier financial services resource center."

CompuBank account holders (through GEFN) will also earn ClickMiles for new accounts and for a variety of everyday banking transactions. CompuBank is the only Internet bank to award ClickMiles that are redeemable one-to-one for frequent flyer miles on eight leading airlines and for high-quality, brand name merchandise.

Offering a wide range of services and products from online banking and ATM access to mortgage loans and mutual funds, GEFN helps consumers meet their banking needs, assess their financial goals, gather information and receive immediate price quotes, submit an application for products online, plus access existing account and policy information. GEFN empowers consumers to learn, buy and transact online, as well as update and manage their accounts and portfolios all in one convenient stop.

"With the addition of online banking to the GEFN site, we are placing yet another time-saving and convenient service into the hands of the consumer," continued Bill Goings. "We believe new services such as online banking will continue to make GEFN the best and most complete one-stop financial services source for consumers."

The GE Financial Network recently received top marks from Gomez.com, the eCommerce authority, for the insurance section of its website. In its review, Gomez said, "GE continues to leverage its offline expertise in a quest to develop one of the Web's most comprehensive financial services offerings."

About GE Financial Network

GE Financial Network (GEFN) is a comprehensive, Internet-based financial services resource center. It provides a simple, convenient and user-friendly system that helps consumers understand and manage their personal financial needs in a manner best suited to their individual requirements. GEFN's extensive resources deliver the synergy of personal assessment and innovative education tools, a wide range of products, quality customer service and a knowledgeable team of licensed professionals.

About GE's e-Business Initiatives:

GE has made it a priority to extend its traditional "brick and mortar" businesses to new e-business models. In 1999, e-Business became an official GE priority initiative, joining Six Sigma, Globalization and Services as the key growth strategies for the Company. In its first year, GE's e-Business initiative yielded more than $1 billion in online sales. For 2000, the Company's e-Business strategic direction is three-fold: ensure that every GE business has a Customer Web Center offering the highest quality service, sales and support online; migrate internal procurement and supplier resources to the Web to take advantage of increased productivity and cost savings; and maintain ongoing development of new technologies and services that will contribute to online sales growth.

About CompuBank:

CompuBank(R), www.compubank.com, is the #1 bank online according to Smart Money earning top honors for Security, Account Information, Fees, and Extra Products and Services. Having developed its own banking platform, CompuBank has harnessed the power and speed of the Internet for the convenience and security of its customers.

CompuBank protects the confidentiality of transactions across the Internet with architecture that uses several layers of security technology. FDIC insured, CompuBank is using its technology, banking experience and strategic partnerships to give businesses and individuals the tools they need to manage their money. CompuBank is committed to delivering the highest level of service and products in the industry.