GE Consumer Finance Acquires Majority Interest in Keppel Bank in the Philippines

Established in 1897, Keppel Bank is the oldest savings bank in thePhilippines with total assets of approximately US$90 million. Keppelhas 30 branches and provides a broad range of banking and financialservices, including deposits, personal loans, mortgages, auto loansand credit cards.

"We are pleased with the opportunity to expand our strategic focusin Southeast Asia by gaining a platform for growth in thePhilippines," said Ridha Wirakusumah, President and CEO of GE MoneySoutheast Asia and Head of Banking, Asia. "The consumer banking andfinancial services industry in the Philippines is well-positioned forlong-term growth, and we are looking forward to building on the solidfoundations established by Keppel Bank and leveraging our globalsuccess and our experience in developing economies to build a strongpresence in this significant market."

"This is a very positive development for Keppel Bank," said TeoSoon Hoe, Group Finance Director of Keppel Corporation. We are verypleased that Keppel Bank's existing customers and the Filipinoconsumers will now have the benefit of GECF's global experience, andthe opportunity to access a full suite of innovative financialproducts."

ABOUT GE CONSUMER FINANCE

With more than $150 billion in assets, GE Consumer Finance, a unitof General Electric Company, is a leading provider of credit servicesto consumers, retailers, and auto dealers in 47 countries around theworld. GE Consumer Finance, based in Stamford, Connecticut (USA),offers a range of financial products, including private label creditcards, personal loans, bank cards, auto loans and leases, mortgages,corporate travel and purchasing cards, debt consolidation and homeequity loans, and credit insurance. More information can be found athttp://geconsumerfinance.com.

ABOUT GE

GE (NYSE:GE) is Imagination at Work -- a diversified technology,media and financial services company focused on solving some of theworld's toughest problems. With products and services ranging fromaircraft engines, power generation, water processing and securitytechnology to medical imaging, business and consumer financing, mediacontent and advanced materials, GE serves customers in more than 100countries and employs more than 300,000 people worldwide. For moreinformation, visit the company's Web site at www.ge.com.

ABOUT KEPPEL CORPORATION AND KEPPEL PHILIPPINES HOLDINGS

Keppel Corporation and its associate, Keppel Philippines Holdings,are listed on the Singapore and Philippines stock exchanges,respectively. The Keppel Group is focused for the future with offshore& marine, property and infrastructure businesses. With a globalfootprint in 27 countries, Keppel will leverage its resources, strongbranding and international network to realize new growth opportunitiesand business excellence for its business. More information can befound at www.kepcorp.com