SDB, Wal-Mart and GE Money Launches Co-Branded Credit Card

SDB, Wal-Mart and GE Money Launches Co-Branded Credit Card

October 30, 2006

-- Wal-Mart Changxiang Card

    SHENZHEN, China, Oct. 30 /Xinhua-PRNewswire/ --
Shenzhen Development Bank (SDB), Wal-Mart (China)
Investment Co., Ltd and GE Money jointly held today a
ceremony and press conference for the issuance of the
co-branded Wal-Mart Changxiang Card, in the Wal-Mart
Supercenter, Xiangmihu Store in Shenzhen.  The issuance of
this co-branded card opens a new chapter for China's retail
financial industry, and will bring more benefits and
services to Chinese consumers.

    The Wal-Mart Changxiang Card, a Visa and China UnionPay
dual labeled credit card, embraces the concept of
"maximizing value, enjoying life" and features an
original rebate function for credit card payment.  Every
Wal-Mart Credit Card holder is able to enjoy a rebate of up
to 1%, which can be used to exchange any goods of the same
value in any Wal-Mart Supercenter or SAM's CLUB store
throughout China.  Cardholders can earn rebates on their
purchases everywhere around the world, so as to enjoy
shopping.  Now, applicants for the Wal-Mart Credit Card
will enjoy a first-year annual fee waiver.  Upon 12
purchases with the card in the first year, the second-year
annual fee will be also exempted.

    Rene Mang, Chief Administrative Officer of Wal-Mart
(China) Investment Co. Ltd., said: "Wal-Mart is
committed to delivering exceptional everyday value and
service to our customers.  With the Wal-Mart Credit Card,
we will deliver even more added value services and
exclusive benefits to our customers."

    Liu Baorui, Vice President of SDB, said, "The
Wal-Mart Credit Card is the result from the deep
cooperation between SDB and Wal-Mart in the China's retail
market and financial market.  SDB and GE Money have already
began strategic cooperation to further our partnership and
lead the new trend of cooperation in China' banking sector,
by jointly launching more new credit cards and finance
banking products which meet the demands of market.  The
strong cooperation between these vigorous companies is
expected to bring more value to consumers."
 
    "As a strategic partner of SDB, GE has not only
offered SDB a range of financial consulting services and
advanced financial management experience, but also
introduced the world's largest retailer, Wal-Mart, as a
partner for the bank's global retail card program.  The
cooperation of the three parties will create a multi-win
situation, and will lead China's retail financial industry
to be in line with the world," said Michael Barrett,
Chief Executive Officer of GE Money in China. 

    The press conference was attended by Xu Anliang, Vice
Secretary-general of Shenzhen Municipal Government, Frank
N. Newman, Chairman of SDB, Liu Baorui, Vice President of
SDB, Michael Barrett, Chief Executive Officer of GE Money,
China, Rene Mang, Chief Administration Officer of Wal-Mart
(China) Investment Co., Ltd., representatives from China
UnionPay and from Visa.

    About Shenzhen Development Bank

    Shenzhen Development Bank, the first joint-stock owned
company to list on the Shenzhen Stock Exchange (SZSE
000001), is a national bank headquartered in Shenzhen,
China, a city known for its progressive approach to
business.  With RMB 246.2 billion in assets, SDB provides a
broad range of services to commercial, retail, and
government customers, through branches in Shenzhen,
Beijing, Shanghai, Tianjin, Chongqing, Guangzhou, Zhuhai,
Foshan, Haikou, Hangzhou, Nanjing, Ningbo, Wenzhou, Dalian,
Jinan, Qingdao, Chengdu, Kongming and Hong Kong.  Please
visit http://www.sdb.com.cn for more information .

    About Wal-Mart

    Wal-Mart accomplished USD312.4 billion sales globally
in 2005.  It ranked the first on the FORTUNE 500 list
consecutively for years.  Meanwhile, Wal-Mart was named one
of the "Most Respected Companies" and the
"Best Companies to Work For" in many other
countries. Wal-Mart entered the Chinese market in 1996. 
The first Supercenter and SAM'S CLUB were opened in
Shenzhen, Guangdong Province in that year.  Currently,
Wal-Mart China operates 66 units in 34 cities, including 61
Supercenters, 3 SAM'S CLUBs, and 2 Neighborhood Markets. 
Wal-Mart is committed to its corporate social
responsibility program and has contributed more than RMB23
million to various charitable organizations.

    About GE Money

    GE Money is the Money business unit of the General
Electric Company and a leading global provider of banking
and financial services to consumers, retailers, and
business partners in 51 countries around the world.  GE
Money, based in Stamford, Connecticut (USA), offers a range
of consumer financial products, including credit cards,
personal loans, bank cards, auto loans and leases,
mortgages, corporate travel and purchasing cards, debt
consolidation, home equity loans, and credit insurance. GE
Money has more than 118 million customers.  GE Money earned
$3 billion in Net Income in 2005 and has total assets of
$163 billion.  More information can be found at
http://gemoney.com .

    About GE

    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.  With
products and services ranging from aircraft engines, power
generation, water processing and security technology to
medical imaging, business and consumer financing, media
content and advanced materials, GE serves customers in more
than 100 countries and employs more than 300,000 people
worldwide.  For more information, visit the company's Web
site at http://www.ge.com . 

    For media inquiries, please contact: 

    Shenzhen Development Bank 
     Xu Shaomin
     Tel:    [phone]
     Fax:    [phone]
     Mobile: [phone]
     Email:  [e-mail]

    Wal-Mart China Investment Co., Ltd.
     Nikita Huang
     Tel:    [phone] x8213
     Fax:    [phone]
     Email:  [e-mail]

    GE Money 
     Mikko Lan
     Ogilvy Public Relations Worldwide
     Tel:    [phone]
     Fax:    [phone]
     Mobile: [phone]
     Email:  [e-mail]

SOURCE  Wal-Mart; GE Money; Shenzhen Development Bank