STAMFORD, Conn., May 20--PRNewswire-AsiaNet/InfoQuest GE Money Drives Expansion with New Products and Customer Focus Corporate multinational General Electric Co.'s (NYSE: GE) Consumer Finance unit will target growth, with the continued brand migration to GE Money throughout 2005 playing an important role in the effort. In Asia, core growth for GE Consumer Finance has been 83 percent over the past four years. Net income for the unit is estimated to double or triple to 100 billion yen for Asia business in the coming years. GE Consumer Finance is one of the fastest growing of GE's 11 businesses. ( Photo: http://www.newscom.com/cgi-bin/prnh/20050520/CLF002 ) Celebrating its one-year birthday, the GE Money brand has been unveiled in 25 countries around the world. Yoshiaki Fujimori, President and CEO of GE Consumer Finance Asia, says his aim is to grow the business by expanding GE Money's product portfolio, and by launching the brand in China, the Philippines and Vietnam. Currently, the business operates in Hong Kong, India, Indonesia, Japan, Singapore, South Korea, Taiwan and Thailand. GE Money Australia operates in Australia and New Zealand and is headed by President and CEO Tom Gentile. The new GE Money brand was launched in 2Q 2004 to unify GE Consumer Finance businesses and products under a single name with a consistent consumer promise of speed, accessibility and ease of doing business, while improving sales and profitability. GE Money products include private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation, home equity loans and credit insurance. New Products in Australasia Since the beginning of 2005 GE Money has continued to grow organically while adding new products in the Australasian region. The release of these financial products complements regional business strategy and customer demand. - In Australia, the GE Money CareCredit product provides a revolving line of credit for elective medical procedures. - GE Money India recently launched the GE Money Home Loan mortgage products and Personal Loan. - In Singapore, the new GE Money ezyCash personal loan product was launched in a unique partnership with Singapore Post, and is available at kiosks in Sing Post branches. - In Thailand, a new dual credit card was launched with Central Department Stores. Selection of a New Name After the reorganization of GE Capital businesses in 2003, an opportunity to create a new brand was identified. "The new brand needed to transcend cultural barriers, by creating a consistent consumer experience, combining the trustworthiness of banks with the speed and ease of traditional finance companies," according to George Awad, Senior Vice President, Global Marketing. GE Consumer Finance's marketing team harvested a list of 200 potential business names and through qualitative research reduced it to 21. Four finalists were selected, which were then subjected to exhaustive quantitative research. After the final wave of research, the GE Money name emerged as the winner. Global Rollout Beginning in 2004, the GE Money brand was introduced in Australia, New Zealand, France and Germany. Throughout 2005, the GE Money brand has been launched in Europe, as well as Hong Kong, India, Japan, Singapore and Thailand. The new brand identity in each country has transformed branches, kiosks and headquarters signage. Print and broadcast advertising, publicity, new product rollout and significant employee activities complement the brand launch. The new look of the GE Money brand is clean, transparent and displayed in a bright, graphic manner. It is simple and optimistic and showcased in consumer literature to communicate the brand values of speed, ease, accessibility, flexibility, trustworthiness and value. In today's banking environment, GE Money's distinctive approach brings greater accessibility to consumers. The name GE Money is synonymous with the business goal; the ability to say "Yes" to customers. Convenience and flexibility are also important brand attributes for GE Money. With more than 142,000 retail outlets and 185,000 ATMs, GE Money can be close to customers. As a part of the focus on the customer, credit and loan applications have been simplified with large print and disclosure boxes. Courteous customer service and prompt attention are hallmarks of the customer focus. "We are delighted with customer reactions to the experience of doing business with GE Money," said David Nissen, President and CEO of GE Consumer Finance. "We look forward to growing long-term customer relationships and attracting new customers with our unique brand proposition." ABOUT GE CONSUMER FINANCE With more than $150 billion in assets, GE Consumer Finance, a unit of General Electric Company, is a leading provider of credit services to consumers, retailers, and auto dealers in 47 countries around the world. GE Consumer Finance, based in Stamford, Connecticut (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at http://geconsumerfinance.com ABOUT GE GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com SOURCE: GE Consumer Finance CONTACT: http://www.geconsumerfinance.com/AboutConsFinance/GENews/GEMoneymediacontacts_As ia.htm Photo: http://www.newscom.com/cgi-bin/prnh/20050520/CLF002 AP Archive: http://photoarchive.ap.org PRN Photo Desk: [email protected] Website: http://geconsumerfinance.com http://www.ge.com --Distributed by AsiaNet (www.asianetnews.net)--