GE Commercial Finance Business Credit Names Michael McCormick Senior Vice President of Origination for Ohio Market

Business Wire, July 20, 2004

NORWALK, Conn. -- GE Commercial Finance Business Credit today announced that it has named Michael P. McCormick as senior vice president of origination. Based in Chicago, Mr. McCormick will manage new business development initiatives in Ohio, as well as through intermediaries in the Chicago market.

With over 22 years of experience in the asset based lending industry, Mr. McCormick previously served as senior vice president of Bank of America Business Capital, where he closed transactions with commitments totaling $325 million. Prior to Bank of America, he spent 20 years with Bankers Trust/Deutsche Bank, where he originated asset-based facilities totaling more than $2.5 billion, ranging in size from $10 million to $280 million. He began his career in 1981 with Security Pacific Business Credit.

"Michael McCormick brings to our team both corporate finance knowledge and industry specific experience that will provide significant support to our business development efforts in the Midwest," said Andrew Waterson, managing director for Business Credit.

Mr. McCormick is a member of the National Commercial Finance Association, Turnaround Management Association and American Bankruptcy Institute. He passed his Series 7 and Series 63 exams in 1998, and holds a Bachelor of Business Administration degree from the University of Minnesota, Twin Cities Campus.

About GE Commercial Finance Business Credit

GE Commercial Finance Business Credit offers financing of up to $30 million and more, as needed, to manufacturers, distributors, wholesalers, retailers and service providers. Products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services. For more information on the businesses and products of Business Credit, please visit www.gelending.com. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $220 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.