GE Capital Drives C$11 Million in Cost Savings for Customers of its Canadian Fleet Services division

MONTREAL - GE Capital announced today it has
identified cost savings of C$11 million for Canadian customers in 2009.
GE Capital's Strategic Consultants partner closely with companies, of
all sizes and types, to help them make informed fleet-related decisions
and benefit from significant cost savings, allowing customers to focus
on core areas of their business growth.

"Our Strategic Consultants are industry experts who have insight into market dynamics and have developed robust methodologies - all designed to help companies make smart fleet management decisions. Typically, we have seen new customers reduce their operating costs by up to 10%." says
Sharon Tait, Vice President and Commercial Leader, GE Capital Fleet Services. She further explains that these smart decisions extend to environmental savings, where "in one scenario, the customer could realize annual savings of up to 20% in CO2 emissions - equivalent to taking 29 vehicles off the road and 21% in costs."

"Environmental stewardship is a big part of who we are, so I was pleased to partner with GE, a pioneer in driving green initiatives", said Jeff McIsaac, CD Operational Capabilities Team Leader at Unilever Canada - a GE customer since 1996. He added, "GE has a team dedicated to Strategic Consulting Services that is using a well thought out methodology for identifying creative solutions to drive fleet management improvements. The team's expertise combined with their customer-focused approach has helped create a highly valued partnership that has delivered a great experience for our drivers and real results for our business and the environment."

Innovative Solutions, Proven Expertise, Real Results

With robust analyses, scenario planning, customized dashboards, and industry benchmarking, GE's Strategic Consultants translate key data points and market trends into strategic recommendations - resulting in annual savings opportunities of over C$11 million last year.

In 2009, the key areas where highest cost savings were achieved are as follows:

 - Vehicle acquisition and replacement planning: Identifies the optimal time for purchase and resale of vehicles, based on key factors such as depreciation impact, resale market trends, manufacturer pricing decisions, and more. - Total cost of ownership: Identifies the most cost-effective vehicles through comparative analysis of equivalent vehicles, while taking into consideration depreciation, fuel economy, maintenance spend, projected resale value and more. - Eco-scenario modeling: Analyzes the environmental and cost impact of introducing more fuel-efficient vehicles into the existing fleet mix. - Finance scenario planning: Evaluates the most cost-effective option of financing, based on factors such as program administration costs, tax liability, opportunity cost, resale values and more. 

"Given the unprecedented changes in the marketplace, now more than ever, companies are looking for a strategic partner they can count on, not only for a reliable source of financing, but also to provide innovative cost reduction and productivity improvement strategies," says Patrick Palerme, President and CEO of GE Capital in Canada. He adds, "From increasing productivity and cost savings to driving green initiatives, GE continues to help customers achieve their business objectives with the peace of mind that their fleet is in good hands."

About GE Capital

GE Capital in Canada (gecapital.ca) is a leading provider of financial and fleet management solutions to businesses operating in a broad range of economic sectors, including construction, transportation, energy, manufacturing and retail. The business' customized solutions include leases, asset based working capital and term financing, cash flow financing, corporate aircraft, franchise and fleet financing as well as financial solutions and services to equipment manufacturers, operators, distributors, dealers and their end users. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at ge.com.

For further information: Marina Brzeski, Communications Leader, Canada, GE Capital, (514) 713-5321, [email protected]

Sarah Triantafillou
[email protected]

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