CHICAGO, August 26, 2003 - Just a year after its creation, GE Healthcare Financial Services, has emerged as a global leader in healthcare financing. In the first 12 months since its launch, GE Healthcare Financial Services has generated more than $5 billion in new business volume, and now has over $10 billion in loans and leases outstanding to some 15,000 healthcare customers worldwide.

In fact, the company's dramatic growth led to President & CEO Rick Wolfert being named to Modern Healthcare's list of "100 Most Powerful People in Healthcare" for 2003.

"GE Healthcare Financial Services was created a year ago to leverage the full power of GE's extensive healthcare industry expertise and comprehensive line of financial products for the benefit of our customers," said Mr. Wolfert. "A year later, it's evident that this strategy has been successful and is exceeding the high expectations we established at the outset."

During its inaugural year, GE Healthcare Financial Services grew by more than 25 percent -- in a difficult global economy. It is now one of GE's fastest growing businesses.

According to Equipment Leasing Association estimates, GE Healthcare Financial Services now ranks as the largest healthcare equipment leasing and financing provider in the U.S. In 2002, GE Healthcare Financial Services provided more than $3 billion in equipment financing to healthcare providers around the world. During the year, the company generated strong growth in financing of GE medical equipment and technologies through its strategic alliance with GE Medical Systems. Even more impressive was the growth on the non-captive side of the business, with non-GE equipment financing volume expanding by nearly 40 percent in 2002. Despite a slowdown in equipment purchases by many healthcare customers, the Equipment Finance Group continues to deliver strong double-digit growth.

The recent strategic alliance announced between GE and Kaleida Health demonstrates the benefit of GE Healthcare Financial Services' focused approach. The partnership includes an innovative $67 million financing package, which provides for a broad range of capital needs, from hospital expansions and renovations to equipment acquisitions and working capital. Also under the agreement, Kaleida plans to purchase up to $70MM in equipment and services from GE Medical Systems over the next seven years.

GE Healthcare Financial Services' Real Estate and Commercial Finance Groups continue to deliver strong growth, providing capital at a time when many lenders have pulled back or withdrawn completely. In the first half of 2003, the Real Estate Group committed and arranged almost $600 million of financing to the long-term care and medical office building sectors. Demonstrating its continued commitment to healthcare real estate, and seeking to broaden its capabilities to customers, GE Healthcare Financial Services formed a $600 million joint venture in May 2003 with Healthcare Property Investors, one of the top healthcare REITs in the U.S., to acquire medical office buildings.

GE Healthcare Financial Services' Commercial Finance Group has extended significant amounts of capital, closing nearly $600 million in working capital and corporate finance loans in the first 6 months of 2003. For example, the Commercial Finance team arranged $85 million in financing to help RoundTable Healthcare Partners, a private equity firm focused on the healthcare industry, and seven Marmon Group member companies, to invest in a new venture-American Medical Instruments Holdings, Inc. (AMI), a medical device corporation.

In its first year, GE Healthcare Financial Services also increased its penetration of global healthcare markets. One of the fastest growing parts of the business, international financing volume grew by 32 percent in 2002. During the year, GE Healthcare Financial Services continued to expand its global footprint, and now has operations in approximately 30 countries around the world.

"I'm very pleased with the positioning and momentum we have established in our marketplace," said Mr. Wolfert. "Coming off a strong first year, we are confident in our ability to build on our leadership position."

See addendum "Key First-Year Events for GE Healthcare Financial Services" for more information about the company's significant accomplishments and the products and services it introduced during the company's inaugural year.

GE Healthcare Financial Services, a unit of GE Commercial Finance, is the premier provider of capital, financial solutions and related services for the global healthcare market. With $10 billion in assets, GE Healthcare Financial Services offers a full range of financing capabilities from equipment leasing and real estate financing to working capital lending and equity investing. With a dedicated focus and a deep knowledge of the healthcare industry, GE Healthcare Financial Services collaborates with customers to create tailored financial solutions that help them improve their productivity and profitability. GE Healthcare Financial Services' website is .

Media Contacts

GE Healthcare Financial Services
Leslie Krohn
312/441-7710
leslie.krohn@ge.com

Deia Campanelli
GE Healthcare Financial Services
312-441-6169