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GE Capital to Provide Leases/Rental Financing for Sharp Customers

Press release from the issuing company

MAHWAH, N.J., 2/7/01 – Sharp Electronics Corp., a leading supplier of document and office network systems, today announced the execution of an operating agreement with General Electric Capital Services (GECS) to administer rental and leasing plans available under Sharp’s National Account Program (SNAP). The agreement will enhance the Company’s ability to provide state-of-the-art support of equipment financing programs for SNAP’s commercial and government customers. Formed in 1982 as a division connecting Sharp’s Dealers nationwide, SNAP works hand-in-hand with participating Dealers by providing centralized support enabling Dealers to secure business with Fortune 1000 companies, Federal, State and local Government agencies, and with other large accounts. Financial programs include rental and lease plans for office equipment products, including copiers, printers and facsimile machines in conjunction with maintenance and software solutions that are available under this agreement with GECS. "Sharp has been seeking a thorough enhancement of its financial service programs to provide greater service to our dealers and end-user customers," said Rich Boomsma, associate vice president of Sharp’s Document and Network Systems Group. "This required extensive due diligence of potential financial partners. We selected GE Capital because we believe it offers highly automated systems, along with personalized, world–class financing services that work well to meet our sophisticated and expanding requirements."

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