Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

GE Fleet Services Acquires CitiCapital Fleet Services

October 1, 2003

GE Fleet Services announced Oct. 1 it signed an agreement on Sept. 30 to purchase certain assets of CitiCapital Fleet Services, headquartered in Carrollton, Texas. Details of the transaction were not disclosed."CitiCapital Fleet Services is highly regarded in the fleet industry for its exceptional customer service," said Kathy Marinello, president and CEO of GE Fleet Services. "This fact coupled with GE Fleet Services' unending commitment to the fleet industry means exciting opportunities for both our customers and our employees. Our focus will be on providing customers with best-in-class service and products by leveraging the strengths of both organizations." CitiCapital Fleet Services is owned by Citigroup's CitiCapital unit and represents approximately $1.2 billion in assets with more than 189,000 vehicles under lease and service management in the United States. Other CitiCapital Fleet Services office locations include a customer-services operations center in San Mateo, Calif. GE Fleet Services has been serving fleet customers since 1987 and has 885 employees throughout the United States.About GE Fleet ServicesGE Fleet Services (www.gefleet.com/fleet), based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Mexico, Europe, Japan, Australia and New Zealand.GE Fleet Services is a unit of GE Equipment Management, which helps customers finance and manage a wide variety of business equipment.General Electric Company is a diversified services, technology and manufacturing company with operations worldwide.
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