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STEPHEN BERGER NAMED GE CAPITAL EXECUTIVE VICE PRESIDENT

 STEPHEN BERGER NAMED GE CAPITAL EXECUTIVE VICE PRESIDENT
 STAMFORD, Conn., Jan. 21 /PRNewswire/ -- Stephen Berger has been appointed executive vice president of GE Capital. Berger has been serving as president of Financial Guaranty Insurance Corporation, a subsidiary of GE Capital.
 "Steve Berger is a significant addition to our executive team," said Gary C. Wendt, president and chief executive officer of GE Capital. "Our company has grown dramatically during the 1980s, and the challenges and opportunities have never been greater than they are today. His addition is an important development and consistent with our plans for guiding GE Capital to strong, yet safe, growth in the years ahead. Steve Berger joins Denis Nayden and recently appointed Ed Stewart as part of the management team that oversees GE Capital's 20 distinct businesses."
 In his new role, Berger assumes responsibility for a portfolio of businesses, including GE Capital's Corporate Finance Group, the General Electric Railcar Services Corporation, the Transport International Pool (TIP) and the Gelco Space business, in addition to the Financial Guaranty Insurance Corporation (FGIC).
 Berger joined GE Capital as chairman, president and CEO of FGIC after five years as executive director of the Port Authority of New York and New Jersey. Previously, he had been an investment banker at Odyssey Partners, director of corporate development at Oppenheimer, and chairman of the U.S. Railway Association.
 Berger is a graduate of Brandeis University, with a degree in history.
 GE Capital, with headquarters in Stamford, is one of the nation's largest diversified financial services companies with assets of $77.4 billion.
 BIOGRAPHY
 Stephen Berger, chairman and chief executive officer
 Stephen Berger, chairman and chief executive office of Financial Guaranty Insurance Company, has more than two decades of experience in the financial markets and in the public sector in roles as diverse as investment banker, financial manager and chief executive officer of a quasi-public agency. Berger joined the company as president and chief executive officer in July 1990.
 Prior to his present position, Berger was the executive director of The Port Authority of New York and New Jersey, a post he held since Oct. 1, 1985. He was instrumental in streamlining the Port Authority and introducing important business and budgeting procedures. Further, he initiated and began execution of a $6 billion capital program to improve and expand a number of major facilities. He was also a major force in encouraging trade into New York and in improving the marketing of the Port internationally.
 At the time he was appointed to head the Port Authority, Berger was an investment bary focus on leveraged buyouts. Berger joined management from Oppenheimer & Co. to form the leveraged buyout/principal transaction firm when Oppenheimer was sold to a London merchant bank. He directed investments and served on the boards of Odyssey affiliated companies in the area of energy and new technology. Prior to Odyssey Partners, Berger served as director of corporate development at Oppenheimer & Co., focusing on major transactions in the rail transportation, port development, and new technology areas. He held these positions successively from 1981 to 1985.
 Berger has broad experience in both business and public service. Perhaps his most visible government service was as executive director of the New York State Emergency Control Board for the City of New York. During the height of New York's financial crisis in 1976 and 1977. Berger was responsible for supervising the city's budget and was instrumental in designing a financial plan that enabled New York to reenter the credit markets.
 Berger was born in New York City in 1939. He attended New York City public schools and graduated with Honors in Science from Stuyvesant High School in 1955. He attended Brandeis University, 1955-1959, graduating magna cum laude with Honors in History. He attended the University of Chicago on a fellowship to the department of political science, 1959-1960.
 Berger served as a member of the Board of Urban Research Center of New York University, the advisory board to the Graduate School of Public Administration at New York University, and was a trustee of St. Joseph's College of New York. Berger held an appointment with the rank of professor at the Graduate School of Public Administration at New York University (1977-1984).
 -0- 1/21/92
 /CONTACT: Anthony B. Zehnder of General Electric Capital, 203-357-4728/ CO: General Electric Capital Corp. ST: Connecticut IN: FIN SU: PER


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Date:Jan 21, 1992
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