GE Commercial Finance Business Credit Names Stephen Philpott Senior Vice President of Origination for South Region

Business Wire, March 23, 2005

NORWALK, Conn. -- GE Commercial Finance Business Credit today announced that it has named Stephen R. Philpott as senior vice president of origination. Based in Atlanta, Mr. Philpott will be responsible for originating transactions of up to $30 million throughout Alabama, Kentucky, Mississippi, Tennessee, West Virginia and parts of Georgia.

With more than 20 years of asset-based and leveraged lending experience, Mr. Philpott previously served as director, leveraged capital division for Wachovia Bank. Prior to joining Wachovia, he spent 15 years with First Union, where he originated asset-based and leveraged cash flow transactions for middle market manufacturing, distribution and service companies across the Southeast.

"Steve Philpott is a seasoned lender with extensive experience in all aspects of underwriting, portfolio management and new business development," said Michael P. Knuckles, senior vice president/South region manager, Business Credit. "With such considerable experience in the Southeastern middle market, he is well equipped to support our efforts to expand our customer relationships and service throughout this important region."

Mr. Philpott holds a bachelor of business administration degree from the University of North Carolina at Charlotte.

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 $230 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.