Drexel Heritage and GE Retail Sales Finance Launch National Finance Program; Revolving Credit Program Helps Customers Enhance Home Environment

Business Wire, June 20, 2004

KETTERING, Ohio -- Drexel Heritage, one of the world's premier furniture manufacturers, recently signed a five-year partnership with GE Consumer Finance to provide revolving credit to its customers.

The new "Drexel Heritage" credit card will be offered at nearly 100 locations throughout the United States, providing customers with flexible financing terms.

"Drexel Heritage is a highly respected name in the furniture industry, and we are excited about the opportunity to be a partner with them in driving sales and building customer loyalty," said Glenn Marino, president and chief executive officer, GE Retail Sales Finance, a unit of GE Consumer Finance.

Other key benefits of the Drexel Heritage revolving credit program include the ability to offer immediate and promotional financing to qualified customers. Promotional programs will be planned to introduce new products, drive interest in specific collections, and support room completion plans.

"We have aggressive plans to add stores during the next 18 months, and GE is working with us to make the Drexel Heritage card a key component in those new stores," said Bryan E. Milleson, chief financial officer of Drexel Heritage Furniture. "GE brings valuable furniture industry experience to our portfolio and, most importantly, shares our commitment to helping customers make their house a home."

About Drexel Heritage Furniture

Drexel Heritage Furniture Industries, Inc., based in High Point, N.C., has been manufacturing fine furniture for over 100 years. With three distinctive brands, dh, Drexel and Heritage, as well as the exclusive Lillian August Collection, Drexel Heritage, and its parent company Furniture Brands International, offers one of the broadest assortment of wood and upholstered furniture in the industry. For more information about Drexel Heritage Furniture, visit www.drexelheritage.com.

About GE Retail Sales Finance and GE Consumer Finance

GE Retail Sales Finance, based in Kettering, Ohio, is operated by GE Consumer Finance and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: outdoor equipment automotive/recreational vehicles, consumer electronics and appliances, furniture, floor covering, jewelry and health care. With $107 billion in assets, GE Consumer Finance, a unit of General Electric Company, is a leading provider of credit services to consumers, retailers and auto dealers in 38 countries around the world. GE Consumer Finance, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.geconsumerfinance.com. GE (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 Web site at http://www.ge.com

(C) 2004 General Electric Company, All rights reserved.