• Progress Continues in Effort to Create Smaller, More Focused GE Capital
  • Closings to date reach $148 billion; signings total $166 billion

GE (NYSE:GE) has completed the previously announced sale of GE Capital’s Franchise Finance U.S. hotel business to Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation (NYSE: WAL). The sale includes approximately $1.3 billion in ending net investment (ENI) and the majority of the hotel business employees. The business provides real estate financing to owners of limited service hotel properties.

“We continue to make strong progress on closing our previously announced sales as we work to divest the majority of GE Capital assets,” said Keith Sherin, GE Capital chairman and CEO. “We wish our Franchise hotel business employees all the best as they transition to Western Alliance.”

Today’s closing releases approximately $0.2 billion of capital. GE Capital believes it is on track to deliver about $35 billion of dividends to GE under this plan, subject to regulatory approval.

As previously announced, GE is focusing on its high-value industrial businesses and is selling most GE Capital assets. GE will retain the financing verticals that relate directly to GE’s industrial businesses. The total closed transactions to date are now approximately $148 billion in ENI and signed agreements have reached more than $166 billion of the more than $200 billion in ENI that GE Capital plans to sell.

About GE

GE (NYSE:GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com.

GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GE’s Facebook page and Twitter accounts, including @GE_Reports, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.

Caution Concerning Forward-Looking Statements:

This document contains "forward-looking statements" – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see http://www.ge.com/investor-relations/disclaimer-caution-concerning-forward-looking-statements as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements. This document also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.

Investors:GEMatt Cribbins, +1-203-373-2424matthewg.cribbins@ge.comorMedia:GE CapitalSusan Bishop, +1-203-750-5362susan.bishop@ge.com

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