GE Real Estate (the “Company”) today announces that it has acquired a high-quality portfolio of approximately £2 billion of performing commercial property loans from Bradford & Bingley PLC.

The acquisition of this portfolio enables GE Real Estate to deploy its long-established skills in managing large portfolios of performing loans. With the backing of GE's AAA-rated corporate balance sheet and substantial management expertise across its global real estate operations, GE Real Estate's management team remains strongly placed to identify and structure large transactions where it sees an opportunity even in periods of market uncertainty.

The portfolio comprises loans to a group of over 100 borrowers, many of which are well known names in the property industry.

Following this transaction, GE Real Estate's investments in Europe will total over $20 billion.

Commenting on the acquisition, Michael Rowan, Managing Director of GE Real Estate UK, said:

“GE Real Estate has a long history of debt transactions and we are pleased to be taking part in this sector again on a meaningful scale. Through our proactive acquisition strategy, we are confident that we can add significant value to our UK business in these more challenging times. The successful execution of this significant acquisition at the right price and on the right terms is a strong endorsement of our ability to complete large and complex transactions where we have identified an opportunity, regardless of market conditions.

“We are very pleased to have had the opportunity to work with Bradford & Bingley's professional management team and to have been given the opportunity to acquire this high-quality portfolio.”

-ENDS-

About GE Real Estate

GE Real Estate (www.gerealestate.com) is one of the world\'s most important commercial real estate companies with US$72 billion in assets and a presence in 28 countries throughout North America, Europe, Asia, and Australia/New Zealand. Backed by GE\'s AAA rating, GE Real Estate offers a comprehensive range of capital and investment solutions including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate. With a 28% compound annual growth rate since 1993, GE Real Estate is one of the world\'s fastest growing and most profitable real estate enterprises. This extraordinary record of success grows out of a reputation for collaboration and partnership; a depth of knowledge and experience and a history of building relationships, finding opportunities and opening doors for more than 5,000 owners, builders, borrowers and brokers worldwide.

GE Commercial Finance (www.gecommercialfinance.com) offers businesses around the globe an extensive array of financial products and services. With over US$246 billion in assets and expertise in the middle-market, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. Headquartered in Norwalk, Connecticut, USA, GE Commercial Finance is a wholly owned subsidiary of the General Electric Company (NYSE:GE), a diversified services, technology and manufacturing company with operations worldwide.

For further information, please contact: Pam Flores Tel: 312/649-0371 Email: pflores@hlbcomm.com