DANBURY, Conn. & FREMONT, Calif.--March 24, 2004--GE Commercial Finance, one of General Electric's (NYSE:GE) largest growth engines, announced today an exclusive leasing alliance between its Vendor Financial Services business and SYNNEX Corporation (NYSE:SNX), a global IT supply chain services company. The agreement provides a cornerstone for continuing enhancements to the SYNNEX Financial Services Program, which provides resellers the means to offer their customers flexible, easily accessed financing solutions.

With this alliance, SYNNEX resellers can significantly enhance the value they provide to their customers by offering them the option of lease vs. buy at the time of quote. With the increased cash flow flexibility offered by a lease program, end-user organizations may have the ability to consider other products and upgrades, accessories and extended manufacturer's warranties without exceeding their budget. Through this program SYNNEX also enhances resellers' ability to assist their customers in product lifecycle and upgrade cycle management. Resellers, working with SYNNEX, will offer and facilitate leases to qualified end-user customers, and GE will assist each reseller with the financing.

SYNNEX and GE will jointly assist resellers to pre-qualify end-user organizations for eligibility. This will significantly expedite the product order and financing process. Pre-qualified companies will have access to a host of tools to help them evaluate the buy vs. lease tradeoff. They will also have the ability to track the status of the lease application and have access to other lease-related support. Moreover, SYNNEX will provide tools and training to resellers to familiarize them with various lease options.

"The vast majority of small and medium size businesses that purchase IT equipment do so through a lease program," stated Mike Thomson, Senior Vice President of Marketing and Services for SYNNEX Corporation. "By entering into this exciting leasing alliance with GE, we look forward to assisting resellers to enhance their value-add to their customer base, while allowing them to capture end-of-lease product cycle opportunities. GE's commitment in offering customers innovative financing products and services is the perfect complement to our focus on providing targeted services that will maximize value for our partners. We are confident that SYNNEX reseller customers will enjoy the enhanced cash flow benefits that can increase their profit potential."

"Integrating the technology that the customer requires with the right financing, at the point of purchase, clearly enhances the value of the distribution supply chain. We are pleased to work with SYNNEX in its continued focus on supporting the success of its customers," said John Paget, Senior Vice President and General Manager of Technology Financial Services, part of the GE Commercial Finance's Vendor Financial Services business.

For more information on the program please call Rob Powell, Business Development Manager for Services at SYNNEX at (864)289-4072.

About SYNNEX

Founded in 1980, SYNNEX Corporation is a global IT supply chain services company offering a comprehensive range of services to original equipment manufacturers, software publishers and reseller customers worldwide. SYNNEX offers product distribution, related logistics services and contract assembly and works with the leading industry suppliers of IT systems, peripherals, system components, software and networking equipment. Additional information about SYNNEX may be found online at www.synnex.com.

About GE Commercial Finance

GE Commercial Finance is one of General Electric's largest "growth engines". With lending products, growth capital, revolving lines of credit, equipment leasing of every kind, cash flow programs, asset financing, expertise in the middle market segment and more, GE Commercial Finance plays a key role for client businesses in 35 countries. This includes healthcare, manufacturing, fleet management, communications, construction, energy, aviation, motor vehicle fleets, infrastructure and equipment, as well as many other industries. GE Commercial Finance has assets of approximately US$217 billion and is headquartered in Stamford, Connecticut, USA. General Electric (NYSE: GE) is a diversified technology and services company dedicated to creating products that make life better.

GE Vendor Financial Services (www.vendorfinancialservices.com), a unit of GE Commercial Finance, is a global leader in developing and providing financial solutions and services to equipment manufacturers, distributors, dealers and their end users.

Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.

SYNNEX and the SYNNEX logo are trademarks of SYNNEX Corporation or its subsidiaries and should be treated as such. All rights reserved. All other company names mentioned herein are trademarks of their respective owners.