ALLTEL to Install Advanced Commercial Banking System for GE Capital Commercial Finance

Business Wire, March 13, 2002

Business Editors & High-Tech Writers

LITTLE ROCK, Ark.--(BUSINESS WIRE)--March 13, 2002

GE Capital Commercial Finance will rely on ALLTEL's Advanced Commercial Banking System (ACBS) to originate, service and manage its portfolio of credit facilities. The ACBS system will support the credit arrangements for the group's lending products, which may include special covenants, multi-tier credit facility structures and complex fee arrangements.

ALLTEL (NYSE:AT) will implement its Deal & Loan Origination and Deal & Loan Servicing-Extended products for the group, along with the Extracts and Business Model for its Data Mart decision-support system.

"ALLTEL's ACBS helps industry leaders like GE Capital Commercial Finance bring customized commercial finance products to market quickly and cost-effectively," said Richard Levy, president of ALLTEL's ACBS organization "This agreement gives us a new opportunity to demonstrate the strength and adaptability of ACBS, including its flexibility to originate and process any credit instruments."

GE Capital Commercial Finance is a global provider of working capital and acquisition financing to middle market and larger companies. GE Capital, with assets of more than $410 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 25 businesses. A wholly owned subsidiary of General Electric Company, GE Capital, based in Stamford, Conn., provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 47 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide.

ALLTEL, with more than 10 million communications customers and $7.6 billion in annual revenues, is a leader in the communications and information services industries. ALLTEL has communications customers in 24 states and provides information services to telecommunications, financial and mortgage clients in more than 50 countries.