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GE Capital Subsidiary to Sell 'GE Prepaid' Brand Wireless Phones and Airtime Cards

17 July 2000

GE Capital Subsidiary to Sell 'GE Prepaid' Brand Wireless Phones and Airtime Cards

    STAMFORD, Conn.--July 17, 2000--GE Capital announced today its subsidiary, GE Capital Communication Services, will sell prepaid wireless phones and airtime cards under the GE Prepaid brand name. The prepaid wireless products will be available in retail locations nationwide.
    GE Prepaid wireless phones and airtime cards will provide customers access to Shared Technologies Cellular, Inc.'s (STC), prepaid platform and services including airtime redemption, transaction processing, 24-hour voice response system and call center services, and point-of-sale activation. STC is located in Wethersfield, CT .
    The new GE Prepaid wireless airtime cards offer highly competitive rates to customers and will be sold in several denominations. Long distance calls from a customer's local area are priced at the same low rates as local calls.
    "Customers will now have the convenience of prepaid wireless and avoid the hassles of an annual contract, service deposit and activation fees. GE Prepaid's wireless services adds another dimension to our prepaid product offering. It brings us closer to being a complete prepaid services provider," said Gregg Haddad, president, GE Capital Communication Services Corporation.
    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, 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 services, technology and manufacturing company with operations worldwide.