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GE CAPITAL NAMES GENERAL MANGER OF COMMERCIAL REAL ESTATE FINANCING

 STAMFORD, Conn., May 10 /PRNewswire/ -- GE Capital today announced that Michael D. Fraizer will succeed John C. Deterding as senior vice president and general manager of Commercial Real Estate Financing, reporting to Executive Vice President Denis J. Nayden. Deterding will retire on July 1.
 Fraizer will assume management of a business with assets of more than $13.5 billion in the United States, Canada and the United Kingdom. In addition to its traditional role of providing commercial real estate financing, GE Capital is also an active investor in commercial real estate and provider of third party asset management services. Since 1991, GE Capital has acquired more than $1 billion in commercial real estate assets from the Resolution Trust Corporation and earlier this year announced a major acquisition of assets from the First Chicago Corporation.
 Nayden said, "Mike has been instrumental in identifying new business opportunities since joining GE Capital in 1991. I am confident that under his leadership, Commercial Real State Financing will be aggressive in developing innovative investments and services, while continuing to prudently manage risk."
 Fraizer joined General Electric's Financial Management Program in 1980 and subsequently worked for GE Lighting, the Corporate Audit Staff and Corporate Business Development & Planning. In December 1989, Fraizer was named president and representative director, GE Japan. He joined GE Capital Commercial Real Estate Financing in June 1991, as vice president, Portfolio Acquisitions and Business Ventures.
 Fraizer holds a bachelor's degree in political science from Carleton College in Northfield, Minn.
 Deterding joined GE Capital in 1975 and was named general manager of Commercial Real Estate Financing in 1981.
 Nayden said, "John Deterding's leadership created a culture of professionalism and customer service that will benefit GE Capital for many years to come. He will be leaving the business in very good standing. We are very grateful for his many contributions and we're pleased that John has agreed to remain an advisor to GE Capital in certain real estate investment activities."
 GE Capital, headquartered in Stamford, a wholly owned subsidiary of General Electric Company (NYSE: GE), is a diversified financial services company with assets exceeding $92 billion. GE Capital's activities include specialty insurance, consumer services, specialized financing, equipment management and mid-market financing. GE is a diversified manufacturing, technology and services company with operations worldwide.
 -0- 5/10/93
 /CONTACT: Thomas F. Lamb Jr. of GE Capital, 203-357-4346, or at home, 203-452-9889/
 (GE)


CO: General Electric Capital Corp.; General Electric Corp. ST: Connecticut IN: FIN SU: PER

CK-LR -- NY048 -- 6532 05/10/93 13:15 EDT
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Publication:PR Newswire
Date:May 10, 1993
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