GE Capital, Hitachi Ink Processing Pact

<B> GE Capital, Hitachi Ink Processing Pact</B>

GE Capital has signed a new alliance agreement wherein Hitachi Credit Corp. of Japan will provide processing for a yen-denominated card and Japanese-language statements for U.S.- and U.K.-based multinational companies. The partnership enables GE Capital's multinational clients to have Japanese employees included in a single card program, rather than be issued separate cards as in the past.

GE Capital also has formed an agreement with LG Capital to serve Korea, and plans to have 20 European and Asian alliances in place by year-end--nearly twice the current number.

About to go into beta testing is the company's new Synergy 2000 Internet-based global reporting system. With its multicurrency and multilingual features, the system is a key factor in enabling GE Capital to consolidate corporate card programs into one seamless system.

GE Capital also is applying the pre-authorization feature of its T&E and other cards to the purchasing card, enabling customized controls to be placed on issued cards. In the third quarter, it will roll out an Internet reporting feature enabling managers and cardholders to view their statements online.