GE BUYS TRANSAMERICA
January 15 2004. GE Vendor Financial Services (VFS), a global leader in developing and providing financial services, has increased its commitment to the motorsports industry, adding the resources of Transamerica
Distribution Finance (TDF) to GE Commercial Distribution Finance (CDF).

VFS' parent company, GE Commercial Finance, announced today the completed acquisition of TDF as well as the planned integration of the financial services provider's motorsports operations into CDF - a VFS business unit and one of the industry's most trusted and reliable financing sources.

Under GE, the two organizations bring additional value to the motorsports industry, complemented with service from the market's most knowledgeable and experienced distribution finance professionals.

"Combining the industry's two most prominent financial services providers into a single financing source, establishes a business with additional scale and the capital resources needed to develop innovative products and services that meet the changing needs of our motorsports customers," said Bob Martin, President & CEO of GE Commercial Distribution Finance. "Additionally, the acquisition offers TDF customers access to other GE financial products aimed at growing their business."

Both organizations share the same core business values and customer focus, allowing for a compelling strategic fit and a relatively seamless transition for customers. In addition, motorsports dealers will benefit from expanded products and services from a financing source that is intimately familiar
with the industry.

"The acquisition of TDF demonstrates GE's commitment to the motorsports market, a commitment that now spans a combined 50 years," Martin said. "Today, two best-in-class distribution finance providers now go forward as one organization positioned to bring significant benefits to existing and
prospective customers."

GE customers can obtain additional detail about the announcement and review Frequently Asked Questions about this transaction on the Integration Update site at www.gecdf.com

We await news on what changes will be made in the UK operations.