FOR IMMEDIATE RELEASE February 16, 2010
Marianna Ohe (202-565-3200)
WASHINGTON, D.C. -- GE Chairman and CEO Jeffrey R. Immelt will deliver opening remarks at the Export-Import Bank of the United States (Ex-Im Bank) 2010 Annual Conference, Powering Jobs, Sales and Profits through Exports, on March 11 in Washington, D.C. Immelt will kick off the two-day conference in a conversation with Ex-Im Bank Chairman and President Fred P. Hochberg. The conference will be held at the Omni Shoreham Hotel and will be attended by more than 1,000 U.S. exporters, domestic and international lenders, brokers and foreign buyers and government representatives. This highly successful global business leader is ideally suited to address our conference theme, said Hochberg. His insights will benefit all conference participants, small and large businesses alike, both new and experienced exporters, to help increase U.S. exports and jobs and contribute to the nation's economic recovery. Immelt, GE's ninth chairman, has held his current post since 2001. Since joining GE in 1982 he has held several global leadership positions in GE's plastics, appliance, and medical businesses. In 1989 he became an officer of GE and in 1997 joined the GE Capital Board. He was appointed president and chief executive officer in 2000. Immelt is a member of The Business Council, and is on the board of the New York Federal Reserve Bank. He has been named one of the World's Best CEOs three times by Barron's. GE has used Ex-Im Bank financing, and Immelt will share the company's experience with many small business exporters in the audience. In fiscal year 2009 the Bank provided a record $4.36 billion in financing in 2,540 transactions for the direct benefit of small businesses. Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency has for over 75 years helped create and maintain U.S. jobs by financing the sales of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans. In fiscal year 2009, Ex-Im Bank set a record, authorizing more than $21 billion in support of U.S. exports to help ease tightened liquidity during the economic crisis. The Bank authorized a record $9.9 billion in loans, guarantees and insurance during the first quarter of fiscal year 2010 (Oct. 1-Dec. 31, 2009) - more than three times the $3.28 billion authorized in the same period of fiscal 2009. For more information on Ex-Im Bank and the annual conference, including the current agenda, and to register online to attend, visit www.exim.gov.