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GE Capital to Acquire I-Sim Corporation

18 December 2000

GE Capital to Acquire I-Sim Corporation; I-Sim Corporation to Be Known as I-Sim LLC, a Unit of GE Capital

    SALT LAKE CITY, Dec. 18 I-Sim Corporation, a leading
producer of driving simulation technology, announced that GE Capital has
purchased a majority stake in the company, according to Nicholas Smith,
chairman and chief executive officer of I-Sim.
    The Board of Directors of I-Sim Corporation has approved and recommended
the acquisition to I-Sim shareholders.  The acquisition is to take effect
immediately.  I-Sim Corporation will be known as I-Sim LLC, part of GE
Capital's Commercial Equipment Financing.  Mr. Smith and two of I-Sim's
co-founders, President Reginald Welles and Executive VP Darrell Turpin, will
remain with the new company, as well as I-Sim employees located in Salt Lake
City and Denver.
    "I-Sim's core business units -- I-Sim Driver Training Services as well as
driving simulators for law enforcement agencies and commercial carriers -- are
a natural complement to GE Capital's financing and asset management business
groups," said Nicholas Smith.  "Our focus on technically superior driving
simulators offers more training options to commercial and private carrier
fleets.  I-Sim's driving simulators have already proven their value in police
departments throughout the United States.  The emerging markets in driver
assessment and training by I-Sim Driver Training Services for organizations
like Halliburton Energy Services -- a business unit of Halliburton Company,
the world's leading diversified energy services, engineering, construction and
maintenance company -- is burgeoning.  By joining GE Capital, I-Sim will have
the strength to expand its I-Sim Driver Training Services training facilities
and services worldwide.  In fact, we have already identified expansion
opportunities in the Northeastern and Southern states."
    When addressing the value of I-Sim's Driver Training Services to GE
Capital customers, Mr. Welles stated, "Experience has shown a more
fuel-efficient driver is a safer driver.  Results have shown those training
programs that incorporate simulation technology allow instructors to focus on
teaching skills in a safe environment where scenarios can be repeated until a
behavior is corrected.  By joining GE Capital, I-Sim can offer technically
superior training to carrier fleets throughout the country."