GE Capital, Corporate Retail Finance today announced it committed $290 million of new money to a $1 billion asset-based revolving line of credit for Rite Aid Corporation (NYSE:RAD), a leading national drugstore retailer. The loan, which was previously announced by the company, will be used for working capital purposes. GE Capital Markets served as joint lead arranger.

Rite Aid Corporation, based in Harrisburg, PA, is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S. The company operates more than 4,900 stores in 31 states and the District of Columbia.

“As a longstanding GE borrower, we value having a lender who understands our business, has in-depth knowledge of the retail sector and access to capital,” said Frank Vitrano, CFO of Rite Aid Corporation. “GE showed its commitment throughout the loan process ensuring we secured the liquidity we required.”

“With deep experience and expertise in retail finance we’re comfortable making significant capital commitments to retail customers,” said Jim Hogan, managing director of GE Capital, Corporate Retail Finance. “Especially in this challenging market environment, we’re working closely with customers to provide capital to help meet their business objectives.”

About GE Capital, Corporate Retail Finance

GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. Visit gelending.com/clnews.

About GE Capital

GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE:GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at ge.com.

GE Capital, Corporate Retail Finance
Jeff Wilson, 203-749-6340
jeffrey.wilson@ge.com
or
GE Capital, Norwalk
Ned Reynolds, 203-229-5717
ned.reynolds@ge.com