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                          OF CO-BRANDED PARTNERSHIP

3rd August 2004… Leading specialist lender First National Home Finance Limited a
GE company, is celebrating the first anniversary of its co-branded partnership with
Advantage Home Loans Ltd, the specialist mortgage packager.

The co-branded relationship between First National and Advantage has been
extremely successful for both companies; developing and strengthening the long-
standing affiliation, increasing revenue and further enhancing service quality.

As part of its ongoing commitment to the relationship with Advantage, First National
has deployed an underwriter to work onsite at Advantage Head Office, to provide
local support and enhance the underwriting process.

Glyn Minshal is one of First National’s most experienced underwriters, having
worked for the company for over seven years. Having a First National employee -
alongside the Advantage team ensures quick and confident underwriting decisions
and allows deals to be processed onsite, resulting in quicker, smoother completion.

The flexibility of this co-branded relationship means that First National can offer the
best, high-quality products specifically tailored to suit the needs of Advantage and its

Patrick Bamford, First National sales leader, said; “We are delighted to celebrate the
inaugural year of our co-branded partnership with Advantage. As a direct result of
this highly rewarding relationship, First National’s ongoing strategy is to significantly
develop its proposition in the area of branded lending.”
Simon Maudslay, co-founder and director, Advantage Home Loans Ltd, added; “We
have always admired First National’s transparency and commitment to providing first
class service and products. We see branded lending as a key element of our ongoing
strategy. The co-branded partnership has enabled us to generate increased volumes
and has strengthened the Advantage brand. We look forward to having Glyn Minshal
onsite and believe this will further reinforce the co-branded relationship.”


For more information, please contact:

Lis Walton                                 Adrian Warr / Claire Heap / Anna Caley
PR & Corporate Affairs Manager             Hill & Knowlton
Direct line: 020 8909 7086                 Direct line: 020 7973 5947 / 020 7413 3784 / 020
Mobile: 07919 113691                       7413 3741
Email:                   Email: /
Bob Sturges                      
Head of PR & Corporate Affairs
Direct line: 01923 426717
Mobile: 07747 012211

Notes to Editors:

About GE Consumer Finance Home Lending (igroup and First National)

      On the 15 January 2004, GE announced the formation of GE Consumer Finance
       Home Lending (GECFHL) with a single senior management team and oversight of
       both igroup and First National brands.
      On 24 March 2004, Colin Shave was named as CEO for GECFHL.
      igroup and First National are two of the UK’s leading originators and servicers of
       specialist mortgages and secured loans.
      First National is a leading provider of flexible unsecured loans for the home
       improvement and holiday ownership markets.
      First National has been declared one of the top lenders of the year in the broker-only
       category at the What Mortgage Lender of the Year Awards 2004.
      igroup holds the Best Adverse Credit Provider 2004 award from Mortgage Magazine.
      GECFHL operates from principal offices in Watford, Harrow and Wolverhampton.
      In 2004, GECFHL will have new business volumes in excess of $9billion and assets
       greater than $18billion.
      igroup’s and First National’s comprehensive range of products is sold through a
       national network of carefully selected and accredited intermediaries including
       mortgage brokers, independent financial advisers and suppliers of holiday ownership
       and home improvement material.
      igroup and First National provide their intermediaries with comprehensive support in
       training, business development and customer service.
      GE acquired igroup in June 2001 and First National in spring 2003.
                    For more information visit and

About GE and GE Consumer Finance:

GE Consumer Finance, a unit of General Electric Company, with $106 billion in assets, is a
leading provider of credit services to consumers, retailers and auto dealers in 38 countries
around the world. GE Consumer Finance, based in Stamford, Conn, USA, offers a range of
financial products globally, 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
GE (NYSE: GE) is a diversified technology, media and financial services company dedicated
to creating products that make life better. From aircraft engines and power generation to
financial services, medical imaging, television programming and plastics, GE operates in
more than 100 countries and employs more than 300,000 people worldwide. For more
information, visit the company’s Web site at

For more information on Advantage, please contact:

Peter Bass                                      Kate Price
Head of Sales & Marketing                       Marketing Manager
Direct line: 0151 350 0500                      Direct line: 0151 350 0507
Mobile: 07919 380060                            Email:
Email:                          Kate Roberts
                                                Marketing Manager
                                                Direct line: 0151 350 0543

Notes to the Editor:

Advantage Home Loans is the product of two “sister” companies that recently merged:

- Advantage Mortgage Services, established in 1991 and recently voted Mortgage
Strategy’s Packager of The Year 2004
- Advance Home Loans, established in 2001 and widely regarded as the UK’s leading
Branded Lender

The result is Advantage, a specialist sub-prime packaging and lending company that
processes over £1billion worth of business per annum and who’s aim is to provide the best
packaging and lending practices under one super-brand.

Branded Lending
The vast majority of business being processed by Advantage is on their branded products.
True cascade underwriting combined with years of experience of branded lending (Advantage
were one of the pioneers of branded lending when it started back in 2001) are the key drivers,
along with increased profitability and improved cash flow for all parties.

This “know how” has attracted most of the industries major lenders, all of whom are delighted
to re-brand their core products under the Advantage brand, along with exclusives designed to
provide a competitive advantage.

Improved conversion ratios and faster completion times sets Advantage apart, consequently,
branded lending is very much seen as a growth part of the business.
Branded Lending Products:
          P100 Range Funded by Platform
          G200 Range Funded by GMAC
M300 Range Funded by Mortgages Plc
F400 Range Funded by First National
S500 Range Funded by Southern Pacific

Our other Lending Partners:

Kensington, Preferred, TMB, I Group, Bristol & West

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