NORWALK, Conn.--(BUSINESS WIRE)--July 5, 2006--GE Commercial Finance today announced new leadership at the Northeast Region Manager level of its North American Corporate Lending business as part of its continuing expansion to help provide customers a smarter suite of financial solutions, delivered locally and tailored to the lifecycle needs of their business.

Randy Hicks will lead the Northeast Region consisting of 65 professionals. He has more than 13 years of sales leadership roles at GE's Corporate Lending and Commercial & Industrial Finance businesses. Corporate Lending's Northeast region has provided over $2 billion of commitments through the first half of this year.

By combining its long-standing asset-based lending, cash flow lending and structured finance platforms under the Corporate Lending umbrella, GE Commercial Finance is creating a single touch-point for customers while unlocking deeper value in each engagement. Supported by a research-based approach to build customized solutions industry-by-industry, Corporate Lending is uniquely positioned to support the entire customer lifecycle, from growth capital and mergers & acquisitions to corporate restructurings, where the company is the #1 provider of Debtor-in-Possession (DIP) financing.

"Growth for the benefit of our customers is the key here," said Tom Quindlen, President and CEO, Corporate Lending. "The expanded capabilities will allow us to build more meaningful and longer-term customer relationships. Whether it's today, next year or five years from now, our goal is to be a lender for all seasons, one that helps customers grow in every business cycle."

Added Hicks, "We look forward to providing borrowers in the Northeast with smarter capital through a whole suite of financial solutions and unparalleled expertise in nine targeted industries."

Smarter Capital for Businesses

With $15 billion in served assets and 400 professionals across 40 locations in North America, Corporate Lending has expanded its offering for companies that are growing, maturing and restructuring. Complimenting its strength in asset-based and cash flow lending, the company now provides structured leasing, tax-advantaged financing, securitization, project financing, junior secured and second lien loans, equity capital and interest rate management.

Industry Specialization

Corporate Lending is using a more industry-based marketing approach, launched earlier this year, to better tailor solutions to the unique requirements of customers.

The initiative is led by Craig Reynolds, senior managing director, and includes a team of Industry Leaders supported by dedicated research analysts. The Industry Leaders partner closely with Corporate Lending's regional sales force to build customized solutions across nine key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Food, Beverage & Agriculture; Financial & Business Services, General Manufacturing; Paper, Packaging & Forest Products; Steel & Diversified Metals; and Transportation & Construction. The industry-aligned approach also builds on Corporate Lending's experience as a leading provider of financial solutions for the Retail industry and for companies in need of Turnaround and Restructuring Finance.

"The new Corporate Lending business is re-energized for growth," Quindlen added. "Our new leadership team with Randy in the Northeast is helping us drive commercial excellence through a regional coverage model and industry specialization in an effort to continue to deliver even greater customer value. Not only will our team provide the best in asset-based and cash-flow lending products, but we will also provide our customers all the resources that GE Company has to offer through our `Access GE' program. This program is designed to bring the best practices of the entire GE organization, including Six Sigma and business solutions, to each of our customer relationships."

Background for Randy Hicks

Hicks has more than 18 years of experience in originating and closing corporate finance, project finance and lease transactions for a broad range of mid-size and large companies. Hicks joined GE in 1993 as senior vice president of origination serving companies in southern California, and in 2000 was promoted to mid-west region managing director. In 2005 Hicks was named Northeast Region managing director of loan origination and underwriting serving borrowers in New England, New York, Pennsylvania, Ohio, Kentucky, West Virginia and Virginia. Hicks received his bachelor of science in finance and investments from Babson College in Massachusetts.

About GE Corporate Lending

With $15 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow and structured finance solutions for mid-size and large companies. From over 40 offices throughout the U.S. and Canada, Corporate Lending specializes in serving the unique needs of borrowers seeking $10 million to $1 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit gelending.com for more information.

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $232 billion and is headquartered in Stamford, Connecticut. 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 customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at ge.com.

Contacts
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
ned.reynolds@ge.com

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