GE Capital Fleet Services has announced an agreement with Pennsylvania-based Innovative Fleet Management, Inc. to develop a direct-to-dealer used-vehicle resale channel in the United States. GE Capital Fleet Services will begin remarketing a portion of its off-lease vehicles through Innovative Fleet Management's patent-pending Web-based system for U.S. customers with commercial cars and trucks. GE Capital Fleet Services remarkets over 150,000 vehicles in North America. GE Capital Fleet Services' dedicated remarketing team coupled with Innovative Fleet Management's more than 15 years of experience in the automotive and dealer industries provides a unique approach that leverages technology, reduces paperwork, while simultaneously supporting fulfillment operations. "This is an exciting opportunity for us because it allows us to bring yet another resale channel to our customers," said Rick Smith, president and chief executive officer of GE Capital Fleet Services. "This alliance is simply another part of our total commitment to our customers to continually look for innovative solutions that provide the best value for their resale vehicles." "Our Web-based product provides for faster cycle times because it puts fleet customers one step closer to retail dealers," said Richard Marzan, chairman of Innovative Fleet Management. Innovative Fleet Management's solution offers a national network of secure and qualified automotive dealers and provides the opportunity to obtain, inspect, recondition and house vehicles prior to transfer. This dealer network currently covers 14 states and will grow to all 50 states by the second quarter of 2001. About GE Capital Fleet Services With headquarters in Eden Prairie, Minn., GE Capital Fleet Services is one of the largest fleet management companies in the world with more than 1.2 million commercial cars and trucks under lease and service management. About Innovative Fleet Management, Inc. With headquarters in Cranberry, Pa., Innovative Fleet Management, Inc. is a technology company specializing in Internet enabled solutions that establish an industry-wide standard designed to expedite and facilitate remarketed vehicles quickly and efficiently, while maximizing returns.