GE Consumer Finance and IKEA Enter Partnership to Offer Store-Branded Credit Card; Private Label Card to Offer Customers Multiple Ways to Save On Purchases

Business Wire, August 30, 2005

STAMFORD, Conn. -- GE Consumer Finance, the consumer lending unit of General Electric Company (NYSE: GE), today announced that it will offer a new private label credit card to U.S. customers of IKEA, the world's leading home furnishings retailer. The IKEA Card will be issued by GE Consumer Finance and will be available to IKEA shoppers in the coming months.

"We're delighted to begin working with IKEA, an innovative retailer that offers great value to its customers," said Margaret Keane, president and chief executive officer of GE Consumer Finance's Retail Consumer Finance unit. "We look forward to helping IKEA drive sales and enhance customer loyalty through a store-branded credit card with a range of benefits."

"The IKEA Card will be a natural extension of our effort to build closer relationships with our customers," said Matti Naar, marketing manager for IKEA U.S. "The card will provide a new and convenient way for customers to purchase their home furnishings. GE Consumer Finance has tremendous expertise with private-label credit, and we are pleased to have such an experienced partner."

Consumers will be able to apply for the IKEA Card at in-store kiosks or on the company's web site (www.ikea-usa.com). Those who are approved will be able to shop with the card right away. In addition, the IKEA Card will offer a host of benefits, including special event mailings, payment promotions and no annual fee.

The IKEA Card is the latest in a succession of new and enhanced card offerings from GE Consumer Finance and its retail partners such as Wal-Mart, Sam's Club, Meijer, QVC and Bass Pro Shops, among others.

About GE Consumer Finance

With $150 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 47 countries around the world. GE Consumer Finance, based in Stamford, Conn., 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 Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.

About IKEA

IKEA, the world's largest home furnishings company, was founded in 1943 and offers a wide range of home furnishings and accessories of high quality, great value and low costs in order to allow the majority of people to afford their products. IKEA currently has more than 210 stores in 33 countries, including 25 stores in the United States. IKEA has been among FORTUNE's annual "100 Best Companies to Work For," WORKING MOTHER's annual "100 Best Companies for Working Mothers" (two years in a row) and TRAINING's annual "Top 100" list of companies that excel at human capital development (three years in a row). IKEA is at the forefront of responsible business practices and innovative initiatives that help protect the environment and advance social responsibility for the future of children on local, national and global levels.