Nation’s Third Largest Homebuilder Selects GE as Exclusive Appliance Supplier

• Lennar Homes extends GE contract through end of 2014, citing the strength of GE’s brand, homebuyer satisfaction, greater back room efficiencies, and GE’s unparalleled service and delivery network
• GE to offer 240 ENERGY STAR®-rated appliances for buyers of Lennar’s high-efficiency homes

LOUISVILLE, Ky.--(BUSINESS WIRE)--GE Appliances & Lighting signed a contract to continue its role as the single-source appliance supplier for Lennar Homes, the third largest homebuilder in the country¹. GE was selected for the strength of its brand, homebuyer satisfaction, back room efficiencies, and the scope of its nationwide service and delivery network.

“Our long-standing relationship with Lennar Homes, coupled with GE’s leadership in appliance technology and design, puts us in the best position to meet the needs and desires of the 21st century homebuyer”

In 2009, Lennar Homes built 11,478 homes in 17 states, from California to Massachusetts. GE will provide GE®, GE Profile™, and GE Monogram® appliances for all new homes between now and Dec. 31, 2014.

“We’ve maintained a strong relationship with GE since 2005 – homebuyer satisfaction and the way that GE is able to execute in all aspects of doing business has played a huge role in our decision to extend GE’s contract,” said Mike Foster, Director of National Purchasing, Lennar Corporation. “GE offers a brand people know, and trust, while delivering style, innovation and energy efficiency. From a builder’s perspective, the reliability of GE’s appliances, as well as the strength of GE’s nationwide service and delivery network, makes the relationship a no-brainer. Lennar and GE recently rolled out Hyphen Solutions to our divisions, which we expect to take back room efficiencies to another level.”

GE’s and Lennar’s shared commitment to the environment also makes these two companies an ideal match. Buyers of Lennar’s high-efficiency PowerSmart™ homes will have access to more than 240 GE ENERGY STAR®-qualified appliances, including GE’s new GeoSpring™ hybrid electric heat pump water heater (in select markets), which can reduce a home’s electrical costs up to $320 annually. In the future, PowerSmart homebuyers will also have access to GE’s smart grid-enabled appliances.

“GE’s ability to stay ahead of the curve was another factor in our decision,” Foster said. “As utilities begin to roll out smart meters, we want to ensure our customers have access to the latest technologies to help them manage their electrical bills in light of new utility pricing and billing structures.”

GE’s smart appliances with Brillion™ technology will be equipped to receive price signals from utility smart meters and have the intelligence to operate when it’s most cost-effective to do so.

GE is the number one supplier of major appliances to U.S. homebuilders. In addition to a strong line-up of brands, GE offers builders high-tech solutions to streamline the purchasing and communications process and is backed by 1,200 factory service technicians and a nationwide delivery network.

The GE Company and GE brand are highly valued by consumers globally. GE was ranked 16^th in FORTUNE’s list of the World’s Most Admired Companies² in 2010 and fourth in BusinessWeek’s Best Global Brands study conducted by Interbrand in 2009³.

“Our long-standing relationship with Lennar Homes, coupled with GE’s leadership in appliance technology and design, puts us in the best position to meet the needs and desires of the 21^st century homebuyer,” said Matt Rose, General Manager of GE Appliances & Lighting’s Contract Sales Division. “We look forward to continuing this successful partnership and offering homebuyers the greatest selection in stylish, innovative and efficient appliances.”

About Lennar Corporation

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides primarily mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Lennar's Rialto Investments segment is focused on distressed real estate asset investments, asset management and workout strategies. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.

About GE Appliances & Lighting

GE Appliances & Lighting spans the globe as an industry leader in major appliances, lighting, systems and services for commercial, industrial and residential use. Technology innovation and the company's ecomagination(SM) initiative enable GE Appliances & Lighting to aggressively bring to market products and solutions that help customers meet pressing environmental challenges. General Electric (NYSE: GE), imagination at work, sells products under the Monogram®, Profile™, GE®, Hotpoint®, Reveal® and Energy Smart® consumer brands, and Tetra®, Vio™ and Immersion® commercial brands. For more information, consumers may visit www.ge.com.

¹ According to 2009 figures.

² http://money.cnn.com/magazines/fortune/mostadmired/2010/full_list/

³ http://www.businessweek.com/interactive_reports/best_global_brands_2009.html

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