Contact Center Solutions Industry News

[March 22, 2005]

GE Auto Warranty Services Delivers Record 2004 Results; Business Cites ``e-Servicing'' as Key Driver of Growth

LAKEWOOD, Colo. --(Business Wire)-- March 22, 2005 -- Driven by 32 percent growth in service contract volume and strong underwriting results, GE Auto Warranty Services (AWS) delivered record results for 2004.

"Continued growth in existing accounts, significant new account growth attracted to our industry leading technology, service and participation programs, and the addition of three new strategic partners produced solid growth for the company in 2004," says Jim Slavik, president, GE AWS.

GE AWS also continued its focus on operational efficiency, driving a 13 percent increase in productivity in 2004. With more than 80 percent of its business submitted electronically, GE AWS has taken the next step in its mission to offer industry leading "e-servicing" by providing a certified Dealer Management System integration solution with its 2005 product launch.

"The 2005 product will make GE AWS more competitive than ever," says Slavik. "Combined with the financial stability of GE and our outstanding technology, GE AWS can deliver great products and services, and financial security to our customers."

In addition to the trusted name of GE, AWS uses an integrated model that is the secret to success in the service contract industry, according to sales leader George Godfrey.

"We have a fully integrated product. All the development, pricing, underwriting, and servicing are owned and managed by GE AWS."

About GE Auto Warranty Services:

GE Auto Warranty Services, a part of GE Consumer Finance, is a leading provider of vehicle service contracts and related products. For more information, visit www.geaws.com. To contact GE Auto Warranty Services, call 1-800-828-1392 or e-mail awssales@ge.com.

About GE Consumer Finance

With more than $151 billion in assets, GE Consumer Finance, a unit of General Electric Company, is a leading provider of credit services to consumers, retailers and auto dealers in 41 countries around the world. GE Consumer Finance, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at http://www.geconsumerfinance.com/.

GE (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's Web site at http://www.ge.com/.

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