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General Electric Named E-Business of the Year by InternetWeek Magazine

15 June 2000

GE Capital Fleet Services Helps Set the Pace for Explosive E-Business Growth

    EDEN PRAIRIE, Minn. - General Electric has been named "E-Business Of The 
Year" in the first annual "InternetWeek 100" survey conducted by InternetWeek, 
the leading Internet/IT publication.  The list of businesses honored is based 
on a performance-focused questionnaire of major U.S. companies and identifies 
the leading e-businesses in ten major industry sectors.

    "General Electric, the winner in the general manufacturing category, was
selected as the leading e-business overall, mainly because GE has moved
billions of dollars in sales and spending to the Internet at lightning speed,
aided by a corporate culture that rewards the sharing of ideas among its
20 business units," notes InternetWeek managing editor Bob Violino.

    "Being named 'E-Business of the Year' reinforces the value of the vigorous
technology efforts we have made in the past year," said Rick Smith, president
and chief executive officer of GE Capital Fleet Services, which employs
3,500 worldwide.  "This year alone, our automated fleet management system,
Your Office @ Fleet, will help eliminate more than 600,000 pages of mailed
invoices and reports to our customers.  The online functionality is driving
our customers' productivity to unprecedented levels."

    Your Office @ Fleet is a suite of comprehensive web-based fleet management
applications.  The end-to-end solution gives GE Capital Fleet Services'
customers desktop access to every aspect of fleet management, including
configuring and ordering vehicles; managing vehicle expenses, such as fuel,
maintenance and accident reporting; and comprehensive vehicle reporting.

    "GE Capital Fleet Services has made significant strides in transforming
the fleet industry to a paperless environment, and getting this type of
recognition for our efforts is real cause for celebration," Smith said.

    GE has made it a priority to migrate its traditional "brick and mortar"
businesses to new e-business models.  In 1999, e-Business became an official
GE initiative, joining Six Sigma, Globalization and Services as the key growth
strategies for the Company.  In its first year, GE's e-business initiative
yielded more than $1 billion in online sales.  For 2000, the Company's
e-Business strategic direction is three-fold: ensure that every GE business
has a Customer Web Center offering the highest quality service, sales and
support online; migrate internal procurement and supplier resources to the web
to take advantage of increased productivity and cost savings; and ongoing
development of new technologies and services that will contribute to online
sales growth.

    GE is a diversified services, technology and manufacturing company with a
commitment to achieving customer success and worldwide leadership in each of
its businesses.

    With headquarters in Eden Prairie, Minn., GE Capital Fleet Services is one
of the largest fleet management companies in the world with more than
1 million commercial cars and trucks under lease and service management.  It
has operations in the United States, Canada, Mexico, Europe, Japan, Australia,
New Zealand and Brazil.  GE Capital, with assets of more than US $345 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, Conn., 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 manufacturing, technology and
services company with operations worldwide.