GE Commercial Finance and NBC Universal Convene Symposium to Examine Convergence of Telecom, Media and Technology

Business Wire, April 13, 2005

NEW YORK -- Two major themes dominated the discussion yesterday at a symposium co-hosted by GE Commercial Finance Global Media & Communications and NBC Universal: first, the convergence of telecommunications, media and technology (TMT) is resulting in increased consumer appetite for connectivity and access to digital content. Second, companies that are linking their growth strategies to consumer behavior and demand and developing products that expand the capabilities of TMT convergence are poised to reap the benefits of the TMT sector's growth.

Held at NBC Universal's headquarters in New York City, the event's theme was, "Shaping the Future of TMT," and assembled nearly 200 representatives from a variety of media sectors to advance the convergence discussion. The day was co-hosted by Robert Stefanowski, President, GE Commercial Finance Global Media & Communications and Brandon Burgess, Executive Vice President, Digital Media, International Channels & Business Development, NBC Universal.

The symposium also marked the launch of a new vertical partnership between GE Commercial Finance Global Media & Communications and NBC Universal designed to bring the skills and experience of each entity to bear on behalf of GE 's customers. The alliance is consistent with GE's strategy of organizing around customers, and will leverage GE's products, services and expertise in the media and telecommunications industry to better serve the marketplace.

"The TMT trend has evolved into a strategic, market driven force for progress, with recent innovations in interactive, voice, video, data, content, and computing creating new opportunities driven by customer demand for better value and simpler services," said Stefanowski. "Our intent through this symposium was to combine the resources and expertise of our two companies - as well as the authoritative perspective of our customers - in order to provide thought leadership on the convergence phenomenon.

Through the alliance, NBC Universal will provide industry expertise to help Global Media & Communications' better evaluate media assets, while Global Media & Communications will lend its financing expertise behalf of key market initiatives by NBC Universal. The team is now collaborating on evaluating opportunities in Asia, Europe and Mexico, and is working together to help Telemundo, NBC Universal's Spanish-language network, improve its presence in Mexico. In addition, the two companies are focusing on the transformation of film distribution from analog to digital - a major industry initiative that represents a highly significant financing opportunity for GE Commercial Finance over the next three years.

"This new alliance provides us with an opportunity to learn from each other and truly maximize our combined industry expertise to better serve the marketplace, particularly as we both seize opportunities in the digital age," Burgess added.

The symposium's centerpiece was a panel discussion of convergence that explored several of the powerful, underlying market forces that have brought TMT to the forefront, including the emergence of new global markets, the convergence of movies and games, and the continuing spread of mobile phone technology.

The Convergence panel was moderated by Blair Levin, Managing Director & Regulatory Analyst, Legg Mason. Panel participants included Christopher Sacca, Principal, Google; Richard Alden, CEO, ONO; Carlos Dominguez, Senior Vice President, Cisco Systems; Roger Gurnani, Vice President and Chief Information Officer, Verizon Wireless; Steve Jacobs, Vice President, Broadband Alliances, Sony, and Mr. Burgess.

Other participants in the symposium included Bob Wright, Chairman & CEO, NBC Universal and Vice Chairman and Executive Officer for GE; Michael Neal, President & CEO, GE Commercial Finance; Steven Mandala, Executive Vice President, Telemundo; Marcel Fenez, Partner, Pricewaterhouse Coopers, and David Lubars, Chief Creative Officer, BBDO North America.

About GE Commercial Finance Global Media & Communications

With over $5 billion in assets and offices in Atlanta, Chicago, Delhi, Hong Kong, London, New York, Norwalk, and San Francisco, GE Commercial Finance Global Media & Communications represents a "one-stop" source for the comprehensive range of GE's lending and other structured financial services offered to the media, telecom, leisure & entertainment, and technology marketplace. For more information, please visit www.gegmc.com. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Stamford, Connecticut.

About NBC Universal

NBC Universal is one of the world's leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. Formed in May 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates the most profitable television network, the fastest-growing Spanish-language network, a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80%-owned by General Electric, with 20% controlled by Vivendi Universal.