$440 million to fund Mississippi steel mill

Norwalk, CT0— GE Commercial Finance has structured and arranged $440 million in senior financing to support the construction of the world’s newest state-of-the-art steel mill.

SeverCorr will manage the construction and ongoing operation of the new mill, to be located in Lowndes County, Mississippi.

SeverCorr expects to produce hot-rolled, cold-rolled and coated steel products by the third quarter of 2007. Approximately 2,000 construction-related jobs will be created during the next 24 months and nearly 450 people will be employed when the production facilities are fully operational.