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GE Consumer Finance Announces Move to 900 Concourse Drive

RAPID CITY, S.D. -- June 17, 2005 -- GE Consumer Finance is relocating this weekend within Rapid City, moving a short distance from 1400 Turbine Drive to a 75,815 sq. ft. facility at 900 Concourse Drive in the Rushmore Business Park. The move is scheduled for June 18 and 19, with a grand opening celebration planned for July 13.

GE has leased the property for six years and will be the sole tenant of the facility, which can accommodate up to 600 employees and has extensive space for training and meetings.

“GE Consumer Finance has been growing in South Dakota since 2003 and is proud to continue to build its presence in the area,” said Kevin Maher, Rapid City Site Leader, GE Consumer Finance’s Retail Sales Finance unit. “We have added more than 125 new employees during the past year and expect to hire at least 25 more by year-end. This building gives us the facilities, technology and scalability we need to be an employer of choice in the Rapid City area.”

The Rapid City office currently employs 350 people who support two GE business units, primarily the Retail Sales Finance unit of GE Consumer Finance and GE Money Home Loans. It is a call center, handling calls from customers, retailers and dealers for private label credit cards, and Powersports and Home Improvement installment loans. The GE Money Home Loans group performs telemarketing and operations support for the business, which helps individuals reach their financial goals through innovative loan solutions.

“Our association with GE has been rewarding. Their commitment to quality jobs has provided employment opportunities to hundreds of people in Rapid City and the Black Hills,” says Bob DeMersseman, president of Rapid City Economic Development Partnership. “We look forward to a long and expanded relationship.”

About GE Consumer Finance, Retail Sales Finance and GE Money Home Loans

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. (USA), 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.

Retail Sales Finance, based in Kettering, Ohio, is part of GE Consumer Finance and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: home improvement, outdoor equipment, powersports, automotive/recreational vehicles, consumer electronics and appliances, furniture, floor covering, jewelry and health care.

GE Money Home Loans is one of the new consumer brands of GE Consumer Finance, which provides financial services solutions for many of the world’s top retailers and their customers. 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.

For more information contact:

Cristy Williams (678) 518-2596 or cristy.williams@ge.com

Mary Beth Schwartz (651) 286-5386 or marybeth.schwartz@ge.com