GE Commercial Finance In Bid to Buy Japan's Sanyo Electric Credit

GE Commercial Finance has decided to launch a tender offer for
100% of the shares of Japan's Sanyo Electric Credit Co., Ltd., a small
ticket leasing and specialty loan business that focuses on office and
IT equipment and industry-specific loans throughout Japan. Sanyo
Electric Credit complements GE Commercial Finance's existing strength
in medium and large ticket leasing and loans, via its GE Capital
Leasing Corporation.

The offer is supported by Sanyo Electric Credit's Board of
Directors and is conditioned on the tender of least two thirds of
Sanyo Electric Credit's shares. GE's all-cash offer for Sanyo Electric
Credit is approximately US$1.1 billion. The deal is expected to close
in the second quarter of this year.

"Sanyo Electric Credit will be a valuable addition to what we can
provide business customers at all levels," said John Flannery,
president and CEO, GE Commercial Finance Asia. "It significantly
enhances the breadth and depth of our financial services to all kinds
of Japanese businesses.

"Strengthening our position in Japan, one of the world's most
important commercial markets, is a strategic priority for GE,"
Flannery noted. "We've actively expanded our investments and alliances
in Japanese commercial finance since we started with GE Capital
Leasing in 1999. GE has a 100 year history of doing business in Japan,
and this represents a very important development."

About GE Commercial Finance

GE Commercial Finance is the business-to-business finance unit of
General Electric. With deep industry expertise and lending, leasing
and financing services of every kind, GE Commercial Finance plays a
key role in helping its customers grow. Conducting business in 35
countries, GE Commercial Finance has assets of over US$230 billion and
is headquartered in Norwalk, Connecticut, USA. For more information,
visit the web site at www.gecommercialfinance.com

About GE

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. It has
operated in Japan for more than 100 years and employs around 8,000
people. For more information, visit the company's web site at
www.ge.com.

This news release contains forward-looking statements based on
management's current expectations and is subject to uncertainty and
changes in circumstances. Actual results may differ due to a variety
of factors including the ability to consummate the transaction, the
ability of GE Commercial Finance to successfully integrate Sanyo
Electric Credit's operations and employees and the ability to realize
anticipated synergies and cost savings.