Acquisition

Computacenter PLC
25 October 2001

Embargoed until 0900, 25th October, 2001

Computacenter plc to acquire GE Capital IT Solutions' UK and French
businesses, with GE Capital IT Solutions acquiring Computacenter's German
Business



Computacenter and GE Capital IT Solutions (GECITS) announce new alliance

Computacenter plc, the specialist provider of IT infrastructure services,
today announces its intention to acquire the UK operations and the French
service business of GE Capital IT Solutions (the latter formerly ISTA), a
wholly-owned subsidiary of GE Capital. In addition, Computacenter will sell
its existing business interests in Germany to GECITS. Computacenter and GECITS
also announce the intention to create a new international IT alliance to
enhance their service to customers.

The acquisition and integration of GECITS businesses will add to the service
offering in Computacenter's existing UK operation and significantly enhance
its service capability in France. The combined businesses will offer the
opportunity to strengthen the services proposition for customers and build on
advantages of scale to accelerate market share. The acquisitions also reflect
Computacenter's continuing move towards a higher margin, value-added services
business.

In Germany, Computacenter will sell its operations to GECITS' business, which
trades under GE CompuNet. Computacenter's German business has made
considerable progress following a rationalisation of branches earlier in the
year. However, as Computacenter has previously indicated, it lacks the scale
to compete effectively and the company believes the combined businesses of
GECITS will offer a more credible proposition for customers in that market.
Computacenter expects to take an exceptional charge for restructuring and
asset write downs of its German operation of approximately £9.6 million at the
year end, of which £2.5 million is non cash relating to asset write downs.

The total purchase price of the proposed transactions vary country by country
with details as follows :-

1. UK

GE CAPITAL INFORMATION TECHNOLOGY SOLUTIONS LIMITED

Purchase price £1,357,643 paid out of cash for the business and certain
assets.

2. France

GE CAPITAL INFORMATION TECHNOLOGY SOLUTIONS SA

Purchase price £738,657 for the Services business and certain assets.

3. Germany

COMPUTACENTER DEUTSCHLAND GMBH

COMPUTACENTER RHEIN/NECKAR GMBH

Sale price of £177,773 for the business and certain assets.

We would expect the transactions to be marginally earnings enhancing next
year, however, benefits from the Alliance are expected to be more immediate.

The proposals are subject to full consultation with employee representatives
and full regulatory approval. Both companies are committed to fulfilling their
employee and social partner obligations. The companies will make every effort
to support their employees through the decision-making process and beyond.

Computacenter's operations in Belgium and Luxembourg will not be affected.

The Alliance

Computacenter and GECITS also announce the formation of a new partnership to
provide IT infrastructure solutions and services to companies operating across
international markets. The strategic alliance will leverage the existing
operations and partnerships of Computacenter and GECITS to provide coverage in
50 countries across the globe. The Alliance will bring major benefits to
customers and give them a consistent standard of excellence by dealing with
market leaders in each country. Having a focused European presence will also
benefit Computacenter and GECITS' relationships with partners and vendors.

Commenting on today's announcement, Mike Norris, CEO of Computacenter said:

'The acquisition of GE Capital IT Solutions' French and UK operations offers
real opportunities for growth in our core markets and will improve our service
proposition for customers. It will also bolster our operations in the
countries where we are market leaders. Earlier this year, we stated that our
German business lacked the scale to compete effectively. Following a recent
restructuring our performance has improved considerably, but we still believe
that this business will be a better strategic fit with GE Capital IT Solutions
' operations.

The Alliance is a new and very exciting development for the European IT
market, and for Computacenter. It will bring major benefits to customers and
strengthen our relationships with major partners and vendors. It positions us
ideally to meet the infrastructure service needs of multinational companies
through increased scale and reflects the changing dynamics of the market'.

John Oliver, CEO of GE Capital IT Solutions, commented:

'Our alliance creates a new force in the European and global IT industry. The
proposed alliance with Computacenter and other key partners will provide our
customers with a new level of seamless global services and solutions. We
believe that this will accelerate GE Capital IT Solutions' growth and broaden
our capability. Serving our customers will remain a major focus throughout the
transition for both companies.'

- ENDS -

Notes to Editors

About Computacenter plc

Computacenter is a leading European provider of IT infrastructure services. To
help its customers maximise the value of IT to their businesses, the company
offers services at every stage of infrastructure investment. Computacenter can
assist its customers with the choice of technology, its procurement, tailored
configuration, testing and integration within the enterprise. The company can
then ensure continued efficient, cost effective performance through its range
of operational management services. Computacenter's corporate and government
clients are served by a network of branch offices across the UK, France,
Germany, Luxembourg and Belgium.

About GE Capital IT Solutions

GE Capital IT Solutions is an established provider of IT Infrastructure
solutions & services in Europe and North America. GE Capital IT Solutions
operates as a GE company and, as such, is able to draw on both the resources
and the global reach of the parent organization to continuously expand its
services offering.

About GE

GE (NYSE: GE), with 2000 revenues of $130 billion, is a diversified
technology, services and manufacturing company with a commitment to achieving
customer success. GE operates in more than 100 countries and employs 313,000
people worldwide. For more information, visit the company's Web site at
www.ge.com.

Enquiries:

For further information;

Computacenter plc

Mike Norris                01707 631601

Tessa Freeman              01707 635473

Tulchan Communications    0207 353 4200

Julie Foster

Andrew Grant