GE Capital - Limited Review For The Quarter Ended Sep 30, 2007

GE Capital Transportation Financial Services Ltd has informed that in the limited review report of the Company for the quarter ended September 30, 2007, the Auditors of the Company have made the following observations :

Without qualifying Auditors opinion, attention is drawn to Note 2 of Unaudited Financial Results for the Quarter Ended September 30, 2007 regarding assignment of pool of standard mortgage loan portfolio. The Company has recognised a net gain of Rs 24,116 thousand during the current year on assignment of standard loan portfolio in accordance with its accounting policy on assignment /sale of standard asset portfolio. Further, it is also seeking a clarification from the Reserve Bank of India (RBI) on applicability of Guidelines on Securitisation of Standard Assets, issued by RBI vide circular numbered DBOD No BPBC 60/21.04.048/2005-06, dated February 01, 2006 to assignment of standard asset portfolio.