Press Release: GE Consumer Finance to be renamed Shinsei Financial Co

          Shinsei Bank, Limited, a leading diversified Japanese financial institution, announced that it will change the name of its newly acquired subsidiary, GE Consumer Finance Co., Ltd., to Shinsei Financial Co., Ltd. Shinsei Financial Co., Ltd. will play a key role as a member of Shinsei Bank’s Individual Group, which provides industry-leading consumer finance and retail banking services to over 12 million customers under a single and unified management structure. GE Consumer Finance has worked to achieve a position of leadership in the consumer finance industry through outstanding operational execution and sound credit risk management. A leading originator of unsecured personal loans, it continues to set the industry standard for lowest cost per application. In September 2008, GE Consumer Finance formed a strategic partnership with American Airlines and American Express with a co-branded credit card.
          Since completing the acquisition of GE Consumer Finance in September 2008, Shinsei has already started working to maximize synergies with the retail bank, APLUS, Shinki and other subsidiaries in the Individual Group. Specifically, these synergies include the ability to utilize retail deposits to fund GE Consumer Finance’s operations, potential cross-selling of deposit services, consumer, mortgage and auto loans, credit cards and insurance brokerage services, and further operational efficiencies through leveraging the Shinsei Bank group’s technology and operating platforms.
          The new company name, Shinsei Financial Co., Ltd., has been chosen to reflect the company’s position within the Shinsei Bank group as a leading provider of consumer-focused financial services solutions.
          Shinsei Financial will continue to use the “Lake” brand in its personal loan business.
          1. Details of Subsidiary
          (1) Current Name GE Consumer Finance Co., Ltd.
          (2) Location Minato-ku, Tokyo
          (3) Representative Shota Umeda, president and representative director (CEO)
          2. New Company Name
          Shinsei Financial Co., Ltd.
          3. Effective Date of Name Change
          April 1, 2009 (subject to change)
          Note: The change of name is subject to approval at a future board of directors’ meeting and shareholders’ meeting