Press Release

Prospect Heights, IL - May 10, 2002 - Household International (NYSE:HI), the 124-year-old consumer lender, announced today the Los Angeles recipients of its financial education grant. As part of a $3 million, multi-year campaign to promote financial literacy, Household has dedicated a total of $225,000 in grants to three Los Angeles organizations that advocate for financial literacy and fair housing: Enterprise Foundation, Valley Economic Development Center (VEDC) and Mexican American Opportunity Foundation (MAOF).

Household established the grant program to help ensure consumers have access to the resources they need to make knowledgeable financial decisions. This year, additional grant money has also been dedicated to grassroots organizations in Chicago and Atlanta. After the initial rollout in these three cities, Household will evaluate expanding the program to other cities.

"Household's grant program builds on our long-term commitment to empower working Americans with the information and tools they need to protect and enhance their financial well-being," said William F. Aldinger, chairman and chief executive officer of Household. "We are pleased to support these community groups who share that very same commitment."

Each organization will leverage the Household grant money to expand its current program offerings:

• Enterprise Foundation, working with its homebuyer counseling partners, will apply Household's grant towards providing homebuyer education and one-on-one counseling to community members with low incomes.

• Valley Economic Development Center (VEDC) will use the Household grant to support a training program for participants in its "Pacoima Workforce Development Initiative." The program will focus on encouraging financial literacy and improving the economic status of local residents.

• Mexican American Opportunity Foundation (MAOF) will commit the Household grant to empower community members with financial knowledge primarily through improved "English as a Second Language" classes that incorporate financial topics.

In addition to the grant program, Household regularly works with other organizations that promote financial literacy. Household has partnered with the National Community Reinvestment Coalition, the Congressional Black Caucus Foundation and the Jump$tart Coalition to help provide financial education to consumers.

Household also equips customers and other borrowers to effectively manage their finances through a variety of free tools and resources, including a web site, www.yourcreditcounts.com, and a series of financial management booklets both of which include tips and strategies for managing savings, spending and credit. (The booklets are available in all HFC and Beneficial branches and online: www.household.com/corp/himm_money_management.jsp.)

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 http://www.household.com.

About The Enterprise Foundation

The Enterprise Foundation is celebrating 20 years of rebuilding America's low-income communities by helping provide affordable housing, safer streets and access to jobs and childcare. Launched by Jim and Patty Rouse in 1982, Enterprise works with partners and a Network of more than 2,200 community-based organizations in 800 U.S. locations. By leveraging investments and donations from nonprofit, private sector and government partners, The Enterprise Foundation has committed more than $3.9 billion in equity, loans and grants to build or renovate more than 132,000 homes.
Contact: Nicci Hyatt, 410.772.2444 or pressoffice@enterprisefoundation.org

About Valley Economic Development Corporation (VEDC)

The Valley Economic Development Center, Inc., based in the San Fernando Valley of Los Angeles County, is the largest non-profit business development corporation in Southern California. The group offers financial assistance, consulting, training, and workforce solutions to small and medium sized businesses throughout Southern California. VEDC's mission is to be the leading provider of consulting, training, financing and workforce solutions to the business community.
Contact: Patrice Wong, Director Workforce & Training, 818-907-9977

About Mexican American Opportunity Foundation (MAOF)

Founded in 1963, The Mexican American Opportunity Foundation's mission is to provide multi-purpose educational and charitable assistance to the general public without regard to gender, race, color, creed, national origin, physical or mental condition, age, marital status, domestic partnership or sexual orientation including persons with HIV/AIDS. The organization is committed to seeking, developing, and administering projects, programs, research and related activities on behalf of socially and economically disadvantaged children, youths, adults, and older persons. MAOF has grown to become the largest Hispanic community based organization west of the Mississippi.
Contact: Fernando Del Rio, Communications Consultant, 323-278-3606

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Household Contact:
Megan Hayden, Manager - Corporate Communications, 847-291-2101