GE Commercial Finance - Fleet Services Launches Online Remarketing Channel for Heavy Trucks and Specialty Assets

EDEN PRAIRIE, Minn., May 25, 2004 -- In addition to their successful auction channel, GE Commercial Finance - Fleet Services announces the introduction of an online remarketing channel designed specifically for the used heavy truck and specialty asset market. Fleet Services has partnered with Asset Appraisal Services to offer this innovative remarketing solution to Fleet Services' customers to facilitate selling their heavy truck and specialty units direct to dealers.

For customers that have large trucks and specialty assets this product makes connecting these assets with specialized resale markets easier and more cost-effective. Customers avoid the cost and the inconvenience of having the assets picked up by utilizing onsite inspections along with comprehensive condition reports to market their assets online to the site's growing database of screened specialty asset dealers. Pilot customers experienced higher net returns for their assets sold through this new channel.

"These types of assets are usually a challenge to remarket, both from a cost and a logistics perspective," explains Brian Wright, general manager vehicle life management for GE Commercial Finance - Fleet Services. "This is a new and effective way to sell these assets through a channel that is easy for customers to use and can bring them greater net returns."

GE Commercial Finance - Fleet Services, based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Mexico, Europe, Japan, Australia and New Zealand. With over US$220 billion in assets, GE Commercial Finance, headquartered in Stamford, Connecticut, offers businesses around the globe an array of financial services and products. GE is a diversified technology, media and financial services company dedicated to creating products that make life better.