---

GE Capital Services Acquires Czech Republic's Largest Independent Car Leasing Company

6 June 1997

GE Capital Services Acquires Czech Republic's Largest Independent Car Leasing Company

    STAMFORD, Conn., and PRAGUE, Czech Republic, June 6 -- GE
Capital Services today announced the acquisition of IMP Leas, the Czech
Republic's largest independent car leasing company.  The company will become
part of GE Capital's Auto Financial Services business and will retain its name
with no major changes to management anticipated.  Terms of the acquisition
were not disclosed.
    Established in 1994, IMP Leas provides car leasing services to businesses
and individuals.  Based in Nove Mesto Nad Metuji, IMP Leas employs 50 staff.
    Commenting on the acquisition, Sandra Derickson, President of GE Capital's
Auto Financial Services, said:  "This acquisition provides a significant
opportunity to establish GE Capital's Auto Financial Services presence within
the Czech Republic.  IMP Leas' growth has been strong over the past three
years, and we will be able to support the expansion of the company's position
in the Czech car leasing market."
    Vit Volhejn, Chairman of IMP Leas, believes that IMP Leas will benefit
greatly from the international expertise and financial strength which GE
Capital Services will bring.  "We welcome GE Capital's commitment to expanding
our business, and their broad experience across Europe makes them a welcome
partner in achieving our business objectives," he commented.
    GE Capital's Auto Financial Services is a leading provider of financial
services to automotive customers, dealers and manufacturers worldwide.  GE
Capital Services, which has assets of over $225 billion, is a global,
diversified financial services company with 27 specialized businesses.  A
wholly-owned subsidiary of General Electric Company , GE Capital
Services, based in Stamford, Connecticut, provides equipment management,
mid-market and specialized financing, specialty insurance and a variety of
consumer services, such as car leasing, home mortgages and credit cards, to
businesses and individuals around the world.  GE is a diversified
manufacturing, technology and services company with operations worldwide.

SOURCE  GE Capital Services