NORWALK, Conn. – Dec. 17, 2004 – GE Commercial Finance Corporate Lending has announced that it has arranged a $40 million CAD revolving credit facility for Golf Town (TSX: GLF.UN), Canada's largest golf retailer. Arranged by Corporate Lending's Business Credit unit, the facility represents a renewal of and increase in an existing $24 million CAD facility previously arranged by GE Commercial Finance. The transaction, which was conducted in connection with Golf Town's initial public offering, closed on November 12.

Founded in 1998 and with headquarters in Markham, Ontario, Golf Town has grown to become Canada's largest golf retailer with 21 locations throughout Quebec, Ontario, Manitoba, Alberta, and British Columbia. Each location has approximately 20,000 square feet of brand name golf clubs, bags, apparel, shoes, accessories, pro services and indoor putting greens.

"With a pending IPO and plans to launch several new stores, it was crucial that we secure additional growth capital quickly; GE Commercial Finance responded within a very tight timeframe with an enhanced commitment," said Stephen Bebis, CEO and president, Golf Town. "GE has been our preferred financial lender since Golf Town's founding, more than six years ago. We're pleased that they will accompany us through this exciting new phase of our development."

"Golf Town is a valued long-term customer, and we were happy to arrange a new facility more closely aligned with their current growth goals," said Matthew Steffen, vice president, GE Commercial Finance Business Credit. "Our long relationship with Golf Town and our knowledge of the retail sector enabled us to move quickly and structure a renewed financing approach that is highly beneficial to the company as well as responsive to the reality of its new investor base."

About GE Commercial Finance Business Credit

GE Commercial Finance Business Credit offers financing of up to $30 million and more, as needed, to manufacturers, distributors, wholesalers, retailers and service providers. Products and services include asset-based lines of credit, letter of credit facilities, acquisition financing, growth capital, bank loan refinancings, term debt and import/export trade services. For more information on the businesses and products of Business Credit, please visit www.gelending.com.

About GE Commercial Finance Corporate Lending

GE Commercial Finance Corporate Lending offers financing to clients from middle-market companies to large corporations. Products and services include asset-based financing, cash flow lending and corporate restructuring. Corporate Lending is a leading global provider of financing solutions for investment and non-investment grade companies - committed to supporting clients at all stages of the business cycle. For more information on the businesses and products of GE Commercial Finance Corporate Lending, please visit www.gelending.com.

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.

Contacts
GE Commercial Finance
Ned Reynolds, 203-229-5717
or
TorranceCo
Jim Marren, 212-786-6133