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VENTURE STORES SIGNS AGREEMENT FOR PRIVATE LABEL PROGRAM WITH GE CAPITAL

 STAMFORD, Conn., Oct. 8 /PRNewswire/ -- GE Capital Retailer Financial Services today announced that it has reached agreement to provide a full service private label credit card program for Venture Stores, Inc. (NYSE: VEN). The program is being initially test marketed in nine stores.
 "In the past, few discount retailers had their own credit cards," said Julian M. Seeherman, chairman and chief executive officer of Venture. "However, customers today are spending more time and money at discount retailers and we think it is important to offer them their own Venture credit card. Our surveys showed that the customers want store credit cards and see them as added convenience."
 "We are excited about this partnership with Venture Stores, and believe our credit, customer service and marketing expertise, combined with Venture's strong position in the discount stores segment, will provide a powerful and convenient credit program for Venture's customers," said Daniel W. Porter, vice president, GE Capital.
 Venture Stores, Inc. is a regional chain of quality discount stores that sells a wide variety of general and name-brand merchandise for the family and home. The company had sales of more that $1.7 billion in fiscal 1992. Venture currently operates 103 stores in nine states. Venture is an independent, publicly held corporation, with its common stock traded on the New York Stock Exchange under the symbol VEN.
 GE Capital is the largest provider of third party private label credit programs with operations in the U.S., Canada, Mexico and the United Kingdom, servicing 65 million cardholders for more than 300 retailers. GE Capital, with headquarters in Stamford, CT, is a wholly owned subsidiary of General Electric Company. GE Capital is a diversified financial services company whose activities include equipment management, mid-market financing, specialized financing, consumer services and specialty insurance. GE is a diversified manufacturing, technology and services company with operations worldwide.
 -0- 10/8/93
 /CONTACT: Anthony B. Zehnder of GE, 203-357-4728, or home, 203-657-3824/
 (GE)


CO: GE Capital Retailer Financial Services; Venture Stores, Inc. ST: Connecticut IN: REA FIN SU:

PS -- NY013 -- 0100 10/08/93 11:13 EDT
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Publication:PR Newswire
Date:Oct 8, 1993
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