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Dan Henson Takes the Wheel at GE Capital Auto Financial Services

9 November 1999

Dan Henson Takes the Wheel at GE Capital Auto Financial Services

    BARRINGTON, Ill., Nov. 9 -- GE Capital announced today that
Daniel S. Henson has been appointed President and General Manager of GE
Capital Auto Financial Services (AFS) and named a GE Officer.  Dan succeeds
Sandra L. Derickson who has chosen to leave the company.
    "I am looking forward to leading GE Capital Auto Financial Services.  In
my experience, delivering value to customers means understanding what
customers want and need.  The work Sandy and her team have done have prepared
Auto Financial Services to move ahead," explained Henson.  "We've done a lot
of listening and had a lot of dialogue with our customers.  We're confident
that we're ready to meet their expectations for a high quality financial
services partner, with unyielding integrity, backed by the incredible
resources of GE Capital."
    "With our core businesses solidly on track, I decided that I wanted to
take some time for my family, and for myself," said Derickson.  "GE Capital is
ready to raise the bar to the next level with an increased emphasis on
providing value on our customers' terms, and Dan Henson is an exceptional
leader who will make that happen.  While it was a difficult decision for me to
make, the timing is right for this change."
    Henson joined GE Capital in 1987, holding several positions of increasing
responsibility until 1995, when he was named Managing Director, GE Capital
European Equipment Finance (EEF).  In 1997, under Dan's leadership, EEF was
recognized with a President's Award and he was promoted to Vice President &
Chief Quality Officer for GE Capital in 1998.  Dan's appointment as President
of Auto Financial Services and a GE Officer recognizes his significant
contributions and his success in helping to accelerate the organization's Six
Sigma Quality initiatives across all GE Capital businesses.
    Sandy Derickson joined GE Capital in 1976 and built AFS into a global
organization with more than $25 billion in assets.  In her 23 years with GE,
she led a series of successful acquisitions that transformed the company into
a leader in global automotive financial service products in more than
22 countries.
    GE Capital, Auto Financial Services (AFS) is a leading provider of
automotive financial service products to franchised and independent new and
used car dealers, as well as to independent financing companies.  The company
is wholly owned by GE Capital.
    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, USA, GE Capital, based
in Stamford, Connecticut, provides equipment management, mid-market and
specialized financing, specialty insurance and a variety of consumer services,
such as automobile leasing, home mortgages and credit cards, to businesses and
individuals around the world.  GE is a diversified services, technology and
manufacturing company, with operations worldwide.