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THE COMPANY

General Electric Capital Corporation was incorporated in 1943 in the State of New York, under the provisions of the New York Banking Law relating to investment companies, as successor to General Electric Contracts Corporation, which was formed in 1932. Until November 1987, our name was General Electric Credit Corporation. As of July 2001, General Electric Capital Corporation completed its reincorporation as a Delaware corporation. All of our outstanding common stock is owned by General Electric Capital Services, Inc. (“GE Capital Services”) formerly General Electric Financial Services, Inc., the common stock of which is in turn wholly owned directly or indirectly by General Electric Company (“GE Company”). Financing and services offered by us are diversified, a significant change from the original business of GECC, that is, financing distribution and sale of consumer and other GE Company products. GE Company manufactures few of the products financed by us.

We operate in four separate financial services businesses: GE Commercial Finance, GE Consumer Finance, GE Insurance and GE Equipment and Other Services. Our operations are subject to a variety of regulations in their respective jurisdictions.

We offer our services primarily throughout the United States, Canada, Europe and the Pacific Basin. Our principal executive offices are located at 260 Long Ridge Road, Stamford, Connecticut 06927 (telephone number (203) 357-4000). At December 31, 2004, our employment totaled approximately 76,300.

2001

2002

2003

2004

Three Months Ended

(Restated) _____

(Restated) _____

(Restated) _____

(Restated) _____

March 31, 2005 _________

1.73

1.66

1.86

1.89

1.74

__20_00__ 1.52

Consolidated Ratio of Earnings to Fixed Charges Year Ended December 31,

2001

2002

2003

2004

Ended

(Restated) _____

(Restated) _____

(Restated) _____

(Restated) _____

March 31, 2005 _________

1.71

1.65

1.85

1.88

1.73

__20_00__ 1.50

Consolidated Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends Year Ended December 31,

Three Months

For purposes of computing the consolidated ratios of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends, earnings consist of net earnings adjusted for the provision for income taxes, minority interest, interest capitalized (net of amortization) and fixed charges. Fixed charges consist of interest on all indebtedness and one-third of rentals, which we believe is a reasonable approximation of the interest factor of such rentals.

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