Statement Regarding Trade Payables Program from GE Commercial Finance & General Motors

STAMFORD, Conn. & DETROIT--March 22, 2005--General Electric Co. and General Motors Corp. today issued the following statement:

Contrary to media reports, GE Commercial Finance has not withdrawn a $2 billion loan facility from General Motors. In May 20, 200504, GE Commercial Finance decided to exit the trade payables business and informed General Motors that the program would end by December 2005. Subsequently, General Motors notified affected suppliers. GE Commercial Finance and General Motors have worked together over the last 10 months on a plan for an orderly exit.

On March 21, GM announced it would continue to offer an early payment program to its suppliers through GMAC Commercial Finance (GMAC CF). This program is in the process of ramping up. During the transition period GE Commercial Finance is continuing to provide payments to GM's suppliers.