Dear Valued Clients,

In the past few weeks, we have seen unprecedented events and turbulence in the global financial markets. In light of this, I would like to reassure you that GE Money Bank has taken actions to ensure that your money and investments are safe with us.

GE Money Bank Philippines is well capitalized and has a Capital Adequacy Ratio of 14%, higher than the BSP’s requirement of 10%. We also have adequate liquidity and reserves and manage our risk prudently.

GE Money Bank is fully owned by GE Capital (USA), which is expected to make $8 billion NI in 2008 becoming one of the most profitable and largest global financial institutions. GE Capital is an invaluable part of GE’s portfolio, which is fully committed to financial services and one of the few Triple-A rated companies worldwide. GE has navigated many tough cycles through its 130-year history, and is doing so again today.

GE has taken a number of prudent actions in this environment including raising an additional $15 billion of cash through an equity offering, a robust funding plan that includes participation in the US Federal Reserve Liquidity and Guaranty programs and reorganizing the business to reduce costs and allocate capital more efficiently.

Locally here, GE Money Bank Philippines has also taken a number of actions to ensure your money and investments are safe and sound with us. We are committed to ensure a long-term relationship with all of our valuable clients. I will continue to update you on developments in the market.

Thank you for banking with us.

Ed Pinto
President and CEO
GE Money Bank Philippines