GE Money and Michelin Move Forward with Consumer Finance Program

KETTERING, Ohio--(Business Wire)--
GE Money and Michelin today announced an agreement to provide
consumer financing through CarCareOne, a private label credit program
managed by GE Money's Sales Finance unit. Car owners can choose from
90-day, 6-month or 12-month no interest programs on their Michelin
purchases. The program includes no annual fee and no down payment
terms, as well as a full menu of promotional payment terms.

"Budgeting for tire maintenance isn't easy - especially when
unplanned needs arise," said Parmeet Grover, brand director for
Michelin. "We pride ourselves on offering competitive prices to car
owners, and the CarCareOne program is a great addition to our service
offering that further helps people get and pay for the tires and
ongoing maintenance they need."

"The GE Money CarCareOne program has enjoyed over 25 years in the
industry, and we're pleased to continue to work with leading partners
like Michelin," said Stephen Roe, vice president and general manager,
Automotive, GE Money - Sales Finance. "More than $3 billion in
automotive parts and labor costs have been financed through the
program, helping consumers and businesses pay for the automotive
maintenance they need to continue driving safely."

Tires use up to 20 percent of the energy needed to operate a car,
and with fueling costs continually on the rise, drivers are doing all
they can to improve gas mileage, including looking to better
performing tires. For more than 120 years, Michelin has obsessively
worked to reduce energy consumption related to tire performance and
The CarCareOne program can be used to purchase any of Michelin's line
of tires.

About Michelin

Dedicated to the improvement of sustainable mobility, Michelin
designs, manufactures and sells tires for every type of vehicle,
including airplanes, automobiles, bicycles, earthmovers, farm
equipment, heavy-duty trucks, motorcycles and the space shuttle. The
company also publishes travel guides, hotel and restaurant guides,
maps, and road atlases. Headquartered in Greenville, S.C., Michelin
North America employs more than 22,300 and operates 19 major
manufacturing plants in 17 locations. For more information, visit
www.michelinmedia.com.

About GE Money

With more than $190 billion in assets, GE Money, a unit of General
Electric Company (NYSE:GE), is a leading provider of credit services
to consumers, retailers and auto dealers in more than 55 countries
around the world. GE Money, based in Stamford, Conn., 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 at www.gemoney.com. GE
Money's Sales Finance unit, based in Kettering, Ohio, provides private
label credit card programs, marketing, installment lending and
financial services for national and regional retailers, dealers,
manufacturers and service providers in more than 20 industries
including: automotive, home improvement, outdoor power equipment,
sporting goods, powersports, recreational vehicles, consumer
electronics and appliances, furniture, floor covering, marine, music,
jewelry, and health care.

GE is Imagination at Work -- a diversified technology, media and
financial services company focused on solving some of the world's
toughest problems. With products and services ranging from aircraft
engines, power generation, water processing and security technology to
medical imaging, business and consumer financing, media content and
advanced materials, GE serves customers in more than 100 countries and
employs more than 300,000 people worldwide. For more information,
visit www.ge.com.

(C)2008 General Electric Company, All rights reserved.

GE Money
Cristy Williams, 678-518-2596
cristy.williams@ge.com
or
Michelin
Tonya Polydoroff, 864-458-4511
tonya.polydoroff@us.michelin.com

Copyright Business Wire 2008