CORRECTION: AS „GE Money Bank” finished 9 months 2008 with unaudited loss in the amount of 3.659 million lats

Correction: english version of announcement added

The loss was planned to the bank because, as informed previously, this is the
year of changes for the company due to integration of the two companies,
business strategy change and significant investment in future growth, and based
on that losses in 2008 were already predicted at the beginning of the year. Of
course, economic changes made an impact on the amount of losses as well and
they will most probably make the loss period longer for the bank. 

At the end of September AS “GE Money” had granted 214.065 million lats in
loans, growth by 19.8% or 35.356 million lats compared to the end of 2007, and
attracted 210.4 million lats in deposits, which is 5.1% or 11.224 million lats
fall. 

The bank's assets on 20 September 2008 were 265.517 million lats, but the total
market share of “GE Money Bank” in total assets of Latvian banks was 1.2%. 

AS "GE Money Bank" capital and reserves volume on 30 September was 30.467
million lats, which is by 11.7% less than at the end of 2007. 

AS "GE Money Bank" has a very stable capital position. Capital adequacy
indicator at the end of the 3rd quarter is more than 14%, which is above the 8%
minimum defined by FCMC. The bank's average liquidity indicator is above 40%,
also exceeding the norm defined by FCMC by 10%. The bank's liquidity level is
also ensured by accessibility to a considerable General Electric long-term
credit line. 
Moreover, AS "GE Money Bank" shareholder's, General Electric, positions - the
highest credit rating AAA and granted funding is a strong foundation for bank's
stability and long-term growth. 
 
In addition to factors proving bank's stable future growth, AS "GE Money Bank"
also reacts to economic events and continues to increase reserves for doubtful
loans, optimizes company's costs and resources, ever more follows to be a
responsible lender - reviews and analyzes the risk portfolio and restructures
risk assessment criteria. 
 
The bank's 9-month financial report for 2008 will be published on 14 November
2008. 


Tija Ezeriņa
Press secretary
GE Money Bank
Ph: +371 67 110 448
Mob. ph.: +371 27876080
8b G.Astras Street, Riga, LV-1082