GE Capital Retail Bank and Pep Boys Renew Consumer Financing Agreement

STAMFORD, Conn. & PHILADELPHIA--(BUSINESS WIRE)--Car and truck owners can more easily maintain their vehicles at The Pep Boys – Manny, Moe & Jack (NYSE: PBY), auto service and retail locations with the multi-year extension of the consumer financing program through GE Capital Retail Bank. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers and dealers to help grow their customer sales, will continue to manage the Pep Boys relationship and service the account.

“Vehicle maintenance is vital to performance and safety, yet in uncertain economic times, many car and truck owners may postpone necessary repairs”

The Pep Boys CarCareONE credit card program, which began in 1996, provides customers of the nation’s leading automotive aftermarket service and retail chain with convenient payment options and benefits for their full-service vehicle maintenance and repair purchases. Cardholders* can qualify for discounts off their first purchase, promotional financing terms, exclusive savings, e-bill and e-payment, and other options.

“Vehicle maintenance is vital to performance and safety, yet in uncertain economic times, many car and truck owners may postpone necessary repairs,” said Bernie McElroy, treasurer and vice president of finance for Pep Boys. “Our relationship with GE Capital has helped us provide a higher quality customer experience, greater value and more flexible ways to pay for products and services that keep them safely on the road.”

Headquartered in Philadelphia, PA, Pep Boys operates 736 stores and approximately 7,000 service bays in 35 states. Pep Boys provides a variety of automotive repair services and offers their customers access to high quality, brand-name and private-label parts in stock at discounted prices. Established in 1921, the company has grown into a multi-billion dollar business and one of the leading sellers of replacement tires in the United States.

“We’re proud to continue our long-standing relationship with this premier company and to have helped Pep Boys serve the needs of car and truck owners for more than 15 years,” said Mike Mattevi, vice president of sales, Automotive industry, for GE Capital’s Retail Finance business. “We look forward to building on their growth and commitment to provide their customers with convenient payment options to care for their vehicles.”

For more than 75 years, GE Capital’s Retail Finance business has provided billions of dollars in consumer financing through major retailers and more than 200,000 small- and mid-sized businesses throughout the United States. GE Capital is a leading provider of consumer credit in the automotive industry, and supports its clients with proprietary online technology such as Business Center, which includes service, training, marketing and sales tools.

About Pep Boys

Since 1921, Pep Boys has been the nation’s leading automotive aftermarket chain. With more than 7,000 service bays in more than 700 locations in 35 states and Puerto Rico, Pep Boys offers name-brand tires; automotive maintenance and repair; parts and expert advice for the Do-It-Yourselfer; commercial auto parts delivery; and fleet maintenance and repair. Customers can find the nearest location by calling 1-800-PEP- BOYS (1-800-737-2697) or by visiting www.pepboys.com.

About GE Capital’s Retail Finance business

GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.

GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

* subject to credit approval as determined by GE Capital Retail Bank.