Frankfurt, Germany, December 20, 2004 - GE Commercial Finance ("GE") announces that it has acquired 12 long-term care properties from Marseille-Kliniken AG ("MKAG"), the largest private operator of long-term care and rehabilitation facilities in Germany, in a sale and leaseback transaction valued at EUR 100 million.

The 12 properties are located across Germany with approximately 1,500 beds. MKAG will lease the facilities for 25 years and GE Commercial Finance Real Estate will manage the portfolio.

GE Commercial Finance's Healthcare Financial Services and Real Estate divisions worked together on the deal, which marks GE's first investment in the German care homes market. The transaction was structured and underwritten by GE without third-party debt or equity capital.

Commenting on the acquisition Michael Gerlich, Managing Director of GE Commercial Finance Real Estate, Germany, said, "This deal demonstrates how the expertise and skills within GE's operating divisions and GE's financial strength can be united to bring significant transactions to fruition and we look forward to working with both Marseille-Kliniken and our HFS colleagues in the future. We believe the residential and care home markets in Germany offer considerable potential as we continue to look for opportunities to grow our presence in these and other sectors in the German real estate market."

Mark Bernal, Vice President, Commercial Finance Europe, GE Healthcare Financial Services, added, "We are pleased to be working with such a well-established and respected company as Marseille-Kliniken. By partnering with them, we are helping our customer achieve their goal of growth in the healthcare industry. The European healthcare sector is highly attractive and we look forward to providing capital to strategic partners who serve the growing needs of this industry."

Axel Holzer, CEO of MKAG, said, "We are very pleased that GE Commercial Finance, one of the most renown institutional investors with a broad expertise in the international health care industry, confirms the market potential of the private nursing home industry in the next years through this transaction. We believe this collaboration marks the first of many cooperative efforts between our organizations in the future."

Stephanie Highett/Dido Laurimore
Financial Dynamics
Tel: +44 (0)20 7831 3113

Deia Campanelli
GE Healthcare Financial Services
312-441-6169

GE Commercial Finance offers businesses of all sizes an array of financial services and products worldwide. With more than US$223 billion in assets and an expertise in the mid-market segment, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. A wholly owned subsidiary of General Electric Company, GE Commercial Finance is headquartered in Stamford, Connecticut, USA.

GE Commercial Finance Real Estate is one of the world's leading resources for commercial real estate capital. Real Estate has assets over $29 billion and more than 30 offices throughout North America, Europe and Asia/Pacific. Real Estate has 20 years' experience in the European property market and has established a solid foundation through long-term dedication to local partnerships and meeting customers' needs. Today, 376 Real Estate professionals and 37 joint venture partners operate from seven regional offices across Europe. Real Estate has current direct investments in nearly of $9 billion in the European property market. Its German platform was established in 1998 and is a central focus for growth within Real Estate globally.

GE Healthcare Financial Services, a unit of GE Commercial Finance, is a provider of capital, financial solutions, and related services for the global healthcare market. With over $13 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit .

GE has been active in Europe, Middle East & Africa for more than 100 years and has its regional headquarters in Brussels, Belgium. In 2003, EMEA sales of $32 billion represented half of GE's non-US revenues, an increase of over 20% compared with 2002, across GE's activities in both the industrial and financial sectors.

All 11 GE businesses have a significant presence in Europe, including several global division headquarters and centres of excellence. In June 2004, GE opened the European arm of its Global Research Centre in Munich, Germany. GE currently employs 80,000 people in EMEA.

Marseille-Kliniken AG is the largest private operator of long-term care and rehabilitations facilities in Germany. It operates 5,700 long-term care beds for the elderly and 1,770 rehabilitation beds and is the only rated healthcare operator in Germany with a S&P rating of BB-.