GE Commercial Finance Fleet Services and Walden Leasing in a New Financial Agreement to Expand Fleet Financing to Rental Car Companies

GE Commercial Finance Fleet Services announced today itsigned an agreement on Oct. 4, 2005, to work with Denny Hecker'sWalden/Rosedale Leasing (Walden Leasing) headquartered in St. LouisPark, Minn. to provide rental car companies with leasing and loanproducts that address the unique needs of the rental vehicle market.This agreement combines GE Commercial Finance Fleet Services'financial resources and suite of fleet management products with WaldenLeasing's expertise and relationships in the rental car industry. Thiscombination will not only provide financial products, but also offervalue-added automotive services that help operate rental fleets morecost-effectively.

With more than 2 million 2005 model-year vehicles purchased byrental companies, this arrangement aligns with GE Commercial FinanceFleet Services' growth strategy.

"In the spirit of imagination breakthroughs, this new relationshipwith Walden Leasing and its strong rental vehicle customer base put usin a new, growing marketplace," said Kathy Marinello, president andCEO, GE Commercial Finance Fleet Services. "The value we will bring toour new rental customers through customized financing and auto-relatedsolutions will help drive their growth," said Marinello. "When ourcustomers grow, we do too - and so do the opportunities for ouremployees. Everyone wins."

Walden Leasing is owned by Dennis Hecker, chairman and CEO. WaldenLeasing has been providing leasing to the rental vehicle industry formore than 20 years. The Walden Leasing team not only has significantexperience in this arena, but also provides a one-source solution withquick turn-around and personal touch.

"We are proud and excited to team up with GE Commercial FinanceFleet Services so we can provide our customers with a wider array oflease and new finance products. The financial resources and expertisethat GE brings to our business will provide a win-win for theindustry," said Denny Hecker, chairman and CEO, Walden Leasing.

Walden Leasing's current customer base of 137 and future rentalvehicle customers will be able to leverage additional financialproduct offerings through this long-term arrangement with GECommercial Finance Fleet Services.

Details of the transaction were not disclosed.

About GE Commercial Finance Fleet Services

GE Commercial Finance Fleet Services, based in Eden Prairie,Minn., is a global fleet management company with operations in theUnited States, Canada, Europe, Japan, Australia and New Zealand. GECommercial Finance is the business-to-business finance unit of GeneralElectric. With deep industry expertise and lending, leasing andfinancing services of every kind, GE Commercial Finance plays a keyrole in helping its customers grow. Conducting business in 35countries, GE Commercial Finance has assets of over US $230 billionand is headquartered in Stamford, Conn., USA. General Electric(NYSE:GE) is Imagination at Work - a diversified technology, media andfinancial services company focused on solving some of the world'stoughest problems.

About Walden Leasing

Walden Leasing is a part of the Denny Hecker group of companies,headquartered in St. Louis Park, Minn. During the past 20 years, DennyHecker, founder of Walden Leasing, has successfully grown his businessof sourcing and leasing vehicles to rental car companies. Currently,Walden Leasing has a lease portfolio of over $400 million byemphasizing customer service and balance sheet financing to leasecustomers. Walden is the largest independent provider of leasedvehicles from a variety of domestic and foreign automotivemanufacturers to this industry segment. Denny Hecker also owns andoperates 15 automotive dealerships, commercial and residential realestate development businesses, mortgage and consumer financecompanies, and fleet services.