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Press Release
Household International Clarifies Purpose of $10 Billion Shelf Registration
Household Finance filed the shelf registration to renew its ability to offer Internotes, a medium term note program for retail investors. Since the launch of Household Finance's first Internotes program in March 2001, the company has issued $2.6 billion of the notes. The renewal of the program will allow Household Finance to continue this highly successful effort to access a new source of fixed income investors. The size of the registration will allow the company to continue this program for the next 18 to 24 months.
Thus far in 2002, the company has issued $100 million to $150 million per week under the Internotes program. Proceeds of the Internotes program are used for general corporate purposes.
About Household
Household's businesses are leading providers of consumer loan, credit card, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household's largest business, founded in 1878, operates under the two oldest and most widely recognized names in consumer finance- HFC and Beneficial. Household is also one of the nation's largest issuers of private-label and general-purpose credit cards, including The GM Card® and the AFL-CIO's Union Plus® card. For more information, visit the company's Web site at www.household.com.
Contact:
Craig Streem, Vice President - Corporate Relations and Communications: 847-564-6053
Celeste Murphy, Director - Investor Relations: 847-564-7568