ValueVision Media, GE Retail Consumer Finance Launch ShopNBC MasterCard

The credit card program will provide ShopNBC customers with a broad range of credit and promotional benefits including a ShopNBC rewards program, diverse financing options and cardholder exclusive promotions. The ShopNBC Platinum Rewards MasterCard will reward ShopNBC customers for their purchases worldwide as well as their purchases at ShopNBC.

"This will be an outstanding program for our customers and our shareholders," said William J. Lansing, president and CEO of ShopNBC's parent company ValueVision Media (Nasdaq: VVTV). "Through our partnership with GE Retail Consumer Finance, we will provide our customers with a broader range of credit options and build greater customer loyalty. Our two-card program will also provide marketing opportunities to grow the ShopNBC brand and drive incremental sales."

"General Electric has been a significant shareholder and business partner with ValueVision Media since 1999," continued Lansing, "This alliance is a natural extension of that relationship."

"We are committed to helping ShopNBC grow their business through our robust credit offerings and extensive marketing support," said Margaret Keane, president and CEO of GE's Retail Consumer Finance unit. "The home-shopping industry is a rapidly growing, multi-channel category where our experience and industry leadership will bring significant value to ShopNBC and their customers. This is another example of the unique partnerships that we create for our retail partners."

"We are always seeking new ways to enhance our product offerings with customized benefits that align with the interests of cardholders, customer financial institutions and retail partners," said Gary Flood, president, Global Key Accounts, MasterCard Worldwide. "This card continues the strong co- brand relationship we have enjoyed with GE Retail Consumer Finance, and we are excited to join them and ShopNBC in creating a unique product that will better serve their customers."