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GE CAPITAL AND THE HOME DEPOT BUILD LONG TERM RELATIONSHIP

 STAMFORD, Conn., Sept. 16 /PRNewswire/ -- GE Capital Retailer Financial Services today announced it has signed a long-term agreement with The Home Depot (NYSE: HD), America's largest home improvement retailer, to provide a $2.5 billion facility for The Home Depot's consumer and commercial private label credit programs.
 GE Capital has been providing consumer and commercial credit programs for The Home Depot since 1988. GE Capital will continue to provide customer service, account origination and marketing support for The Home Depot's 1.5 million plus cardholders.
 "By combining The Home Depot's strong presence in the home improvement industry with GE Capital's private label credit, customer service, and marketing expertise, we are able to provide additional services to both our do-it-yourself and professional customers," said Marshall Day, senior vice president of finance-The Home Depot.
 The Home Depot operates 231 full-service, warehouse style stores in 21 states, primarily serving do-it-yourselfers and home improvement, construction and building maintenance professionals.
 "The Home Depot transaction is not just the continuation of an old relationship, but also the start of a new one," said Dan Porter, president of GE Capital's Retailer Financial Services-North America. "The pace of The Home Depot's growth and its expectations of us will challenge GE Capital to develop enhanced private label products and streamlined product delivery capabilities while maintaining excellent customer service."
 GE Capital is the largest provider of third party private label credit programs with operations in the United States, Canada, Mexico and the United Kingdom, servicing 65 million cardholders for more than 300 retailers. GE Capital, with headquarters in Stamford, is a wholly owned subsidiary of General Electric Company (NYSE: GE). GE Capital is a diversified financial services company, whose activities include equipment management, mid-market financing, specialized financing, specialty insurance and consumer services. GE is a diversified manufacturing, technology and services company with operations worldwide.
 -0- 9/16/93
 /CONTACT: Anthony B. Zehnder of GE Capital, 203-357-4728, or at home, 203-657-3824/
 (GE HD)


CO: GE Capital Retailer Financial Services; Home Depot ST: Connecticut IN: FIN REA SU:

CK -- NY072 -- 2816 09/16/93 16:25 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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