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Press Release

GE Consumer Finance and American Eagle Outfitters Sign Private Label Credit Card Extension

October 23, 2003

STAMFORD, Conn.--Oct. 23, 2003--GE Consumer Finance announced today that it has signed a two-year extension of its agreement with American Eagle Outfitters, Inc., to continue to provide private labe credit card services for the apparel retailer throughout the U.S. until Jan. 1, 2008.

The credit program, marketed as The AE Card has been in place since 1996 and was originally scheduled to run through 2006. American Eagle Outfitters currently operates 731 American Eagle stores in North America, 62 AE stores in Canada, and 111 Bluenotes/Thriftys retail outlets in Canada.

We're thrilled about continuing the relationship with American Eagle, said Mark W. Begor, president and chief executive officer of GE Consumer Finance - Americas. The company's growth in the last few years has been exciting, and we look forward to helping build on that success with the expansion of the private label program.

The AE Card plays an important role for our customers because it enables them to conveniently shop in our stores, or on-line, said Michael Tam, chief marketing officer for American Eagle Outfitters.

By extending our relationship with GE Consumer Finance, we hope to continue a credit program that helps our best customers take full advantage of all the card's benefits.

Benefits of The AE Card include 15% off first purchase, 20% off for birthday purchases, special savings days of 15% throughout the year, and on-line account access through www.ae.com.

About American Eagle Outfitters

American Eagle Outfitters (NASDAQ:AEOS) is a leading lifestyle retailer that designs, markets, and sells its own brand of casual, fashion-right clothing for 20 year olds, providing high-quality merchandise at affordable prices. AE's collection includes modern basics like jeans, surplus, and graphic Ts as well as a stylish assortment of cool accessories, outerwear, footwear and swimwear. AE's

Canadian subsidiary, Bluenotes/Thriftys, targets a slightly younger demographic, offering a more urban/suburban, denim-driven collection for 12-to-22 year olds. American Eagle Outfitters currently operates 731 AE stores in 49 states and the District of Columbia, 62 AE stores in Canada, and 111 Bluenotes/Thriftys stores in Canada. AE also operates via its Internet business, www.ae.com.

About GE and GE Consumer Finance

GE Consumer Finance, a unit of General Electric Company, with $95 billion in assets, is a leading provider of credit services to consumers, retailers and auto dealers in 36 countries around the world. GE Consumer Finance, based in Stamford, Conn., 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 www.geconsumerfinance.com.

GE (NYSE: GE) is a diversified services, technology and manufacturing company with operations

worldwide.

More information about GE can be found online at www.ge.com

--30--RC/ny*

CONTACT: GE Consumer Finance

Cristy Williams, 678-518-2596 (office)
404-993-7410 (cell)

[email protected].

Cristy Williams
[email protected]
678.518.2596


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