Business Services Industry

GE Money & National Rural Utilities Cooperative Finance Corporation Promote Energy Efficiency with Consumer Credit Program

Business Wire, May 12, 2008

KETTERING, Ohio -- GE Money and National Rural Utilities Cooperative Finance Corporation (NRUCFC), a not-for-profit finance cooperative that serves rural utility systems, today announced a multi-year agreement to provide a consumer credit program through NRUCFC's electric cooperative member organizations for homeowners looking to finance home improvement projects, including energy efficient enhancements.

Two financing programs, managed by GE Money's Sales Finance unit, are available: ClimateSelect(SM) provides a revolving line of credit, which can be used for initial and add on purchases; while PROJECTLOAN(SM) is an installment financing option. Both programs require no annual fee or down payments and enable consumers to budget for their home improvements with low monthly payments.

The electric cooperative network serves more than 40 million people in 47 states and accounts for approximately 10 percent of total U.S. electricity sales. NRUCFC's membership comprises 900 electric cooperatives, including distribution systems and generation-and-transmission (G&T or "power supply") systems.

Consumers can use ClimateSelect(SM) or PROJECTLOAN(SM) to finance energy-efficient home improvements, utility repairs and replacements, including renewable energy conversions such as photovoltaic/solar cells, wind turbines, and geoexchange systems.

"Our co-op member organizations have kept the lights on in rural communities across America for more than 50 years. Today, they are seeking new ways to help their consumers create and conserve energy, and these GE programs will help them turn their renewable ideas into reality," said Laurie Greene, program director for NRUCFC. "We are pleased to offer these homeowners a new and convenient way to finance the utility services they need."

"Our financing program complements NRUCFC's comprehensive selection of financial tools for co-op members and their customers," said Bruce Christensen, vice president and general manager, Home Improvement, GE Money - Sales Finance. "The utilities industry is complex and ever changing, and we are proud to partner with NRUCFC to provide a solution that simplifies and eases the financing process for homeowners who seek green sources to power their home."

About National Rural Utilities Cooperative Finance Corporation (NRUCFC)

NRUCFC is a non-stock, member-owned finance cooperative that serves the nation's rural utility systems, the majority of which are electric cooperatives and their subsidiaries. With more than $18 billion in assets, NRUCFC provides its member-owners with an assured source of low-cost capital and state-of-the-art financial products and services. By providing financing that supports reliable, affordable electricity, NRUCFC helps enhance the nation's electric infrastructure and improve the quality of life in rural America. Visit www.nrucfc.coop for more information.

About GE Money

With more than $200 billion in assets, GE Money, a unit of General Electric Company, (NYSE: GE) is a leading provider of retail banking and credit services to consumers and retailers in more than 50 countries around the world. With more than 130 million global customers, GE Money, based in London, UK, offers a range of financial products, including private label credit cards, personal loans, bank cards, mortgages, debt consolidation and home equity loans and credit insurance. More information can be found at www.gemoney.com. GE Money's Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs and financial services for consumers through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in more than 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment, sporting goods and travel.

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 www.ge.com.

NOTE: May is National Home Remodeling Month