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GE Capital Auto Financial Announces $48M Auto Loan Purchase

5 April 1999

GE Capital Auto Financial Services Announces $48 Million Auto Loan Purchase

    BARRINGTON, Ill., April 2 -- GE Capital Auto Financial
Services announced today that it has acquired $48 million of auto loan
receivables originated in California and Nevada from Rockwell Federal Credit
Union.  Terms of the agreement were not announced.
    Sandra L. Derickson, president of GE Capital Auto Financial Services,
said, "In addition to core growth of loan volume through our dealer network,
we continue to seek opportunities like these in 1999 to grow our auto finance
business in the U.S."
    GE Capital, with assets of more than US$300 billion, is a global,
diversified financial services company with 28 specialized businesses.  A
wholly owned subsidiary of General Electric Company, GE Capital, based in
Stamford, CT, 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.