Compared with some of the largest university contracts nationwide, the E&I agreement offers robust volume incentives regardless of the size of the institution. As the total purchasing card volume of all E&I members increases, all participating institutions may receive increased rebates. In addition, the new GE – CPS contract offers several other benefits to E&I members:

In addition to the MasterCard® purchasing card, GE - CPS offers the virtual settlement tool, vPayment. A corporate travel card and the Controlled Value Card — a declining balance credit card suitable for grants administration, athletic team travel and student organization budgets — round out the product offering to E&I members.

“The collective approach to member benefits makes the E&I agreement unique in the corporate card industry,” said Jeffery R. Dye, president and CEO of GE – CPS. “It’s a groundbreaking, creative approach that large and small institutions should find attractive.”

“We’re thrilled to be able to offer the great discounts of this contract to all of our members,” said E&I CEO Tom Fitzgerald. “GE — Corporate Payment Services is one of the world’s fastest-growing and most innovative providers of corporate cards; E&I is the nation’s largest, and rapidly growing, group purchasing organization for higher education. Working together, we can bring more benefits and services to E&I members than ever before.”

About E&I

Established in 1934 by members of the National Association of Educational Procurement (NAEP), Educational & Institutional Cooperative Purchasing is the buying cooperative that serves colleges and universities. As the premier North American group purchasing organization for higher education, E&I uses the combined purchasing power of more than 1,500 member institutions to lower costs on a wide range of products and services. The organization provides members with access to a diverse portfolio of high quality national and regional contracts from best-in-class suppliers as well as additional financial incentives via return of profits to members. E&I’s member-driven competitive solicitation process has been validated by the National Institute of Governmental Purchasing (NIGP). For more information, please go to: www.eandi.org.

About GE - Corporate Payment Services

GE - Corporate Payment Services, the commercial card unit of GE Consumer Finance, develops and markets corporate bank cards and e-settlement tools designed for small-, medium- and large-sized companies and organizations. Cards are issued by GE Capital Financial Inc. For more information, visit www.gebusinessmarketplace.com/int_vpayment.htm.

With $163 billion in assets, GE Consumer Finance, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in 50 countries around the world. GE Consumer Finance, based in Stamford, Connecticut (USA), 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.geconsumerfinance.com.

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. 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 the company's Web site at www.ge.com.