Fitch Assigns GE Money Bank ABS Seller/Servicer Rating.

NEW YORK -- Fitch Ratings has assigned GE Money Bank, a wholly-owned subsidiary of General Electric Capital Corporation (GE Capital), a seller/servicer rating of 'ABPS/S2' for credit card origination and servicing. The rating is based on a highly tenured and experienced management team, financially strong parent, comprehensive merchant management programs and effective servicing processes.

GE Capital is a diversified financial services company offering financing, asset management, and insurance products and services to consumers and businesses. GE Capital is an indirect, wholly owned subsidiary of General Electric Company (GE). On July 5, 2005, GE reorganized its 11 businesses into the following six industry-focused operating segments: GE Commercial Financial Services, GE Consumer Finance, GE Industrial, GE Infrastructure, GE Healthcare and NBC Universal. GE Capital operates in four of GE's operating segments: GE Consumer Finance, GE Commercial Financial Services, GE Industrial and GE Infrastructure. GE Money Bank operates within the GE Consumer Finance operating segment. GE Money Bank is engaged in various consumer financing activities including personal loans; mortgages, bank, private label and co-branded credit cards; corporate travel and purchasing cards; home equity loans; debt consolidation; and credit insurance.

GE Money Bank, established in 2005, is a Federal Deposit Insurance Corp.-insured federal savings bank, which is regulated, supervised and examined by the Office of Thrift Supervision. GE Capital guarantees the obligations of the bank as servicer of the transferred receivables. GE Money Bank has an agreement with GE Capital to provide a substantial portion of origination and servicing services, including new account acquisition, customer service and collection.

GE Capital's private label credit card program traces its beginnings to the 1930s. One of the largest retail card issuers, the GE Consumer Finance operating segment manages a private label portfolio with total receivables outstanding of approximately $21 billion as of Dec. 31, 2005. GE Money Bank currently services five Fitch-rated ABS series issued by the GE Capital Credit Card Master Note Trust (GECMNT). The total outstanding amount of public securities issued by GECMNT as of the date of this report is approximately $4.5 billion.

Fitch rates ABS seller/servicers on a scale of 1 to 5, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating (no 1+). For further information about Fitch ABS seller/servicer ratings, refer to the report titled 'ABS Seller/Servicer Rating: Credit Where Credit Is Due,' dated Sept. 14, 2004 and 'Rating ABS Seller/Servicer: Credit Card Addendum,' dated Jan. 18, 2006; both reports are available on the Fitch Ratings web site at www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.