Textron Financial Corporation Completes Purchase From Green Tree

4 October 1999

Textron Financial Corporation Completes Purchase From Green Tree

    PROVIDENCE, R.I.--Oct. 4, 1999--Textron Financial Corporation (TFC) today announced that its previously announced acquisition of the aircraft and franchise finance divisions of Green Tree Financial Servicing Corporation (Green Tree), a subsidiary of Conseco, Inc., has been completed.
    "This strategic acquisition strengthens TFC's position in the specialty businesses of aircraft and franchise finance while broadening our customer bases in these growing markets. We are very excited to move forward to the next phase of integrating these dynamic businesses," remarked Stephen A. Giliotti, TFC Chairman, President and CEO.
    With over $5 billion in managed receivables and a twenty-year history of record earnings, Textron Financial Corporation is a diversified commercial finance company with three groups of products and services: term financing for Aircraft, Equipment and Golf (including the financing of Textron products); revolving credit arrangements; and specialty finance. Other services include syndications, asset management, portfolio servicing and insurance brokerage. More information about TFC is available at www.tfc.textron.com.
    Textron Financial Corporation is a subsidiary of Textron Inc. , a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance. Textron has a workforce of over 64,000 employees and major manufacturing facilities in 23 countries. Textron is among Fortune magazine's "Global Most Admired Companies."