GE Capital Solutions, Franchise Finance Funds Full-Service Hotel with $11 Million; Crowne Plaza Hotel with Noted History of Success Receives Much-Needed Renovation.

SCOTTSDALE, Ariz. -- A $10.9 million loan funded by GE Capital Solutions, Franchise Finance, allowed Ascension Hotels, a Louisiana-based company owned by Aaron Patel and Kapoor & Kapoor Investments, to broaden its reach to Tulsa and to purchase a full-service Crowne Plaza hotel.

"We found an old Adams Mark hotel in Tulsa that had been rebranded as a Crowne Plaza, but hadn't been renovated in many years," says Tarun Kapoor, president and CEO, Ascension Hotels and Kapoor & Kapoor Investments. "We saw an opportunity with the purchase price and the potential for success and felt this would be an excellent opportunity to expand our portfolio."

The funding for the Crowne Plaza -- a 462-room hotel with a 38,000 square foot conference center and two full-service restaurants and a lounge -- is to be used for the purchase and renovation.

"We are very comfortable funding full-service hotels like this," says Tom Humann, vice president, GE Capital Solutions, Franchise Finance. "This is an experienced operator and a property where there is a noted history of success."

Ascension Hotels has three full-service and three limited-service properties in Louisiana. GE Capital Solutions, Franchise Finance provided $12.2 million to refinance four of those hotels at the end of 2005.

"This is our second loan with GE Capital Solutions, Franchise Finance and we couldn't be happier," says Kapoor. "They are very professional and easy to work with."

GE Capital Solutions, Franchise Finance, who has primarily financed limited-service hotels, is now showing an appetite to work with full-service hotels across the country.

"This deal is attractive because it is an investment in a quality, turnaround hotel," says Humann. "We look for full-service hotel operators who have the right experience, the right brand, and a great location. Ascension Hotels has the right experience and they've found a hotel that has a great history of success."

Ascension also is making a concerted effort in acquiring full-service hotels.

"Right now we have 850 rooms," says Kapoor. "We plan to have 2,000 rooms in the next three years and look forward to a long-term relationship with GE Capital Solutions, Franchise Finance through that growth."

GE Capital Solutions, Franchise Finance provides financing to help franchisees and franchisors grow, compete, and prosper through new construction, acquisitions, refinancing, or reimaging.

About GE Capital Solutions, Franchise Finance

GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 20 years of experience and $11 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).

GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.

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.