GE Real Estate Concludes a $44.3MM Construction Loan Agreement With Quebecor Inc. for the Expansion of its Headquarters



    MONTREAL, Oct. 29 /CNW/ -- GE Real Estate announced today it has
concluded a $44.3 MM CDN construction and take-out loan agreement for the
expansion of Quebecor Inc.'s  Montreal headquarters.
    Financed by GE Real Estate's Business Property division headquartered in
Montreal, the loan enables Quebecor to build a 19-story office tower adjacent
to its existing 13-story tower in Montreal's Central Business District.
    Quebecor, a publicly-traded Canadian-based communications conglomerate,
has operations in North America, Europe, Latin America and Asia, through its
two main operating subsidiaries, Quebecor World Inc. (commercial print media
services) and Quebecor Media Inc. (telecommunications, newspapers, internet,
new media services, broadcasting industries and publishing).
    Alex Sieber, Vice President and General Manager at GE Real Estate
commented, "We are pleased to partner with Quebecor and facilitate their
ongoing growth by providing financing for this large construction project in
Montreal.  This is an ideal example of how GE Real Estate's global expertise
and reliability can benefit local companies and fund their regional
development."
    GE Real Estate is a leading global resource for commercial real estate
capital. The Business Property division provides single-tenant and
owner-occupied, and small-balance multi-residential financing solutions for
commercial real estate owners, investors, developers and brokers.  It serves a
wide range of industries, including retail, office, manufacturing, and
distribution-warehousing.
    
    About GE Real Estate
    
    GE Real Estate (http://www.gerealestate.com) is one of the world's
premier commercial real estate companies with more than US$62 billion in
assets and a presence in 32 countries throughout North America, Europe, Asia,
and Australia-New Zealand. Backed by GE's AAA rating, GE Real Estate offers a
comprehensive range of capital and investment solutions including equity
capital for acquisition or development, as well as fixed and floating rate
mortgages for new acquisitions or re-capitalizations of commercial real
estate. With a 28% compound annual growth rate since 1993, GE Real Estate is
one of the world's fastest growing real estate enterprises.  This
extraordinary record of success grows out of a reputation for collaboration
and partnership; a depth of knowledge and experience and a history of building
relationships, finding opportunities and opening doors for more than 5,000
owners, builders, borrowers and brokers worldwide.
    GE Commercial Finance (http://www.gecommercialfinance.com) offers
businesses around the globe an extensive array of financial products and
services.  With more than US$259 billion in assets and expertise in the
middle-market, GE Commercial Finance provides loans, operating leases,
financing programs and innovative structured capital to help customers grow.
Headquartered in Norwalk, Connecticut, GE Commercial Finance is a wholly owned
subsidiary of the General Electric Company (NYSE:   GE), a diversified services,
technology and manufacturing company with operations worldwide.




For further information:

For further information: Brent Feigenbaum of GE Real Estate, 
+1-212-716-8929, brent.feigenbaum@ge.com; or Pamela Flores of HLB 
Communications, Inc., +1-312-649-0371, pflores@hlbcomm.com, for GE Real 
Estate Web Site: http://www.gerealestate.com                 
http://www.gecommercialfinance.com

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