NEW YORK, Nov. 1 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today announced it has completed the sale of E*TRADE Consumer
Finance Corporation to GE Consumer Finance's Retail Sales Finance unit. The
Company had announced on August 16 that it would sell its RV and marine
lending business to GE Consumer Finance.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services
including trading, investing, banking and lending for retail and institutional
customers. Securities products and services are offered by E*TRADE Securities
LLC (Member NASD/SIPC). Bank and lending products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
About Retail Sales Finance and GE Consumer Finance
Retail Sales Finance is part of GE Consumer Finance and provides private
label credit card programs, marketing, installment lending and financial
services for national and regional retailers in key industries:
automotive/recreational vehicles, home improvement, powersports, outdoor
equipment, consumer electronics and appliances, furniture, floor covering,
jewelry and health care. With $150 billion in assets, GE Consumer Finance, a
unit of General Electric Company, is a leading provider of credit services to
consumers, retailers and auto dealers in 47 countries around the world. GE
Consumer Finance, based in Stamford, Conn. (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 online at http://www.geconsumerfinance.com.
Important Notices
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered trademarks
or trademarks of E*TRADE FINANCIAL Corporation. The statements contained in
this news release that are forward-looking are based on current expectations
that are subject to a number of uncertainties and risks, and actual results
may differ materially. The uncertainties and risks include, but are not
limited to, changes in market activity, anticipated increases in the rate of
new customer acquisition, the conversion of new visitors to the site to
customers, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual reports previously filed by E*TRADE Group,
Inc. or E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including
information under the caption "Risk Factors") and quarterly reports on Form
10-Q.
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
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Related links:
http://www.etrade.com
CONTACT:
media, Pam Erickson, +1-617-296-6080, or
pam.erickson@etrade.com, or investors, Adam Townsend,
+1-703-236-8719, or adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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