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GE Provides $55 Million in Financing to Leading Fashion Tradeshow Organizer ENK International.

NORWALK, Conn. -- GE Commercial Finance's Media, Communications & Entertainment business today announced it has provided $55 million as administrative agent to ENK International, Inc. (ENK), the leading fashion industry tradeshow organization. The $80 million total credit facility closed December 20, 2007, and will be used to fund ENK's continued expansion into new fashion product categories. The company recently acquired WSA Global Holdings, a leading provider of marketing services to the global footwear and accessories marketplace.

According to a recent report, spending at industry exhibitions in the United States surpassed the $10 billion mark. This growth is attributed to increased corporate travel budgets and the value marketers place on face-to-face contact with customers. To remain competitive, exhibition organizers are becoming more innovative in creating ways to attract key demographics year-round by developing online communities which include social networking features, news and product updates.

"ENK is in position to lead its niche market," said Ray Shu, Managing Director, GE Commercial Finance - Media, Communications & Entertainment. "Forging a relationship with ENK is also a growth opportunity for GE through solidifying our leadership in financing this evolving and highly competitive marketplace."

"We are pleased to be teaming up with GE," said Luis Padilla, president of ENK International. "ENK and WSA together leverage market knowledge, strategy and consumer relationships, while creating one of the most powerful fashion and footwear tradeshow and marketing services companies in the world. We needed financing from a company that would be able to grow and evolve with us, and GE offered that."

Founded in 1981 by Elyse N. Kroll, ENK (www.enkshows.com) conducts 25 events per year, 20 of which are held in New York City, and five in Los Angeles. Upscale fashion retailers representing both specialty and department stores from around the world attend ENK events. ENK represents over 10,000 domestic and international exhibiting companies, and over 1.2 million net square feet of exhibit space.

About GE Commercial Finance - Media, Communications & Entertainment

With nearly $10 billion in assets and offices in Atlanta, Chicago, Hong Kong, London, Los Angeles, Munich, New York, Norwalk (HQ), San Francisco, Singapore and Toronto, the Media, Communications & Entertainment business is a global strategic partner to these industries and the technologies that enable them. We bring GE's full resources and financial strength to each relationship, while delivering industry expertise and flexible financing solutions that maximize stakeholder value. www.geMCE.com

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $250 billion and is headquartered in Norwalk, Connecticut. 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. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. www.ge.com
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Publication:Business Wire
Article Type:Company overview
Date:Jan 14, 2008
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