GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Note Payment Detail Original Face Value Class CUSIP Beginning Class Balance Principal Payment Amount Interest Payment Amount Ending Class Balance Total Interest Rate A 36159LAD8 5.40000% 1,202,000,000.00 1,202,000,000.00 0.00 5,048,400.00 5,048,400.00 1,202,000,000.00 B 36159LAE6 5.61000% 38,000,000.00 38,000,000.00 0.00 165,806.67 165,806.67 38,000,000.00 C 36159LAF3 5.82000% 10,000,000.00 10,000,000.00 0.00 45,266.67 45,266.67 10,000,000.00 1,250,000,000.00 1,250,000,000.00 0.00 5,259,473.34 5,259,473.34 1,250,000,000.00 TOTALS Beginning of Month Balance New Volume Principal Collections Defaulted Amount 9,142,105,690.89 2,215,671,404.36 2,137,934,254.71 2,390,076.66 End of Month Balance 9,217,452,763.88 Annualized Yield Overconcentrations Are there any Dealer Overconcentrations? 0.00 Are there any Manufacturer Overconcentrations? 0.00 Are there any Product Line Overconcentrations? 0.00 Collections Principal Collections Non Principal Collections Total Collections 11.16% No No No Total 2,137,934,254.71 79,114,548.80 2,217,048,803.51 Overconcentration 0.00 0.00 0.00 2,137,934,254.71 79,114,548.80 2,217,048,803.51 Defaults Default Amount Series Allocation Percentage Investor Default Amount Charge-offs Investor Charge-offs 2,390,076.66 0.00 2,390,076.66 13.81% 330,096.05 0.00 Page 1 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Allocation of Available Non Principal Collections Series Allocation Percentage Available Non Principal Collections Allocated to Series 13.81% 10,926,595.00 Application of Available Non Principal Collections and Available Principal Collections (a) Available Non Principal Collections Allocated to Series (i) 10,926,595.00 (A) Amount to Indenture Trustee (B) Amount to Trustee 0.00 0.00 (C) Amount to Administrator 71.43 (D) Amount to Custodian 0.00 (ii) Noteholder Servicing Fee 2,104,376.67 Unpaid Servicer Advances and interest thereon 0.00 (iii) Class A Monthly Interest (iv) Class B Monthly Interest (v) Class C Monthly Interest (vi) Investor Default Amount (treated as Available Principal Collections) 5,048,400.00 165,806.67 45,266.67 330,096.05 Required Deposit to Principal Account 0.00 (vii) Investor Charge-offs 0.00 Reimbursement of Investor Charge-offs 0.00 Unreimbursed Investor Charge-offs Reallocation Principal Collections Reimbursement of Reallocated Principal Collections Unreimbursed Reallocated Principal Collections Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections 0.00 0.00 0.00 0.00 0.00 (viii) Amount Required to be Deposited to the Reserve Account 0.00 (ix) Remaining Amounts due to: Indenture Trustee Trustee Administrator Custodian (x) Amounts otherwise required to be Deposited to Principal Account 0.00 0.00 0.00 0.00 0.00 Page 2 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Excess Non Principal Collections for Series 2004-2 Excess Non Principal Collections for Series 2005-1 Excess Non Principal Collections for Series 2005-2 Excess Non Principal Collections for Series 2006-1 Excess Non Principal Collections for Series 2006-2 Excess Non Principal Collections for Series 2006-3 Excess Non Principal Collections for Series 2006-4 3,562,673.56 3,509,767.42 2,112,858.02 4,251,659.47 1,393,702.76 2,834,571.38 3,533,433.49 Total Excess Non Principal Collections 21,198,666.10 Non Principal Shortfalls for Series 2004-2 Non Principal Shortfalls for Series 2005-1 Non Principal Shortfalls for Series 2005-2 Non Principal Shortfalls for Series 2006-1 Non Principal Shortfalls for Series 2006-2 0.00 0.00 0.00 0.00 0.00 Non Principal Shortfalls for Series 2006-3 0.00 Non Principal Shortfalls for Series 2006-4 0.00 Total Non Principal Shortfalls 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2004-2 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-1 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-2 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-1 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-2 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-3 0.00 Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-4 0.00 Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls 0.00 Released to Transferor (b) Revolving Period Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture (c) 21,198,666.10 Controlled Accumulation Period Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement (i) Monthly Principal Deposited into the Principal Account (ii) Monthly Principal Deposited to Distribution Account and paid to: 295,272,387.74 295,272,387.74 0.00 0.00 0.00 Class A Class B 0.00 Class C 0.00 (iii) Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture 0.00 Page 3 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Early Amortization Period Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement (i) Monthly Principal Deposited into the Principal Account (ii) Monthly Principal Deposited to Distribution Account and paid to: Class A Class B Class C (iii) Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture Shared Principal Collections for Principal Sharing Series Aggregate Shared Principal Collections for Principal Sharing Series Aggregate Principal Shortfall for Principal Sharing Series Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2004-2 Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-1 Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-2 Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-1 Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-2 Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-3 Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-4 0.00 0.00 0.00 0.00 0.00 0.00 1,756,871,011.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Amount Deposited into the Excess Funding Account Released to Transferor Reserve Account (Series Level Account) Beginning Reserve Account Amount Required Reserve Account Amount Required Reserve Account Percentage Note Principal Balance Principal Overcollateralization Amount Subtotal Required Reserve Account Amount Reserve Account Deficiency Reserve Account Deposits Reserve Account Withdrawals Ending Reserve Account Amount 0.00 1,756,871,011.04 39,393,931.20 3.12% 1,250,000,000.00 12,626,000.00 1,262,626,000.00 39,393,931.20 0.00 160,165.72 160,165.72 39,393,931.20 Page 4 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: Non Principal Account (Series Level Account) Beginning Balance Deposits Disbursements Ending Balance Principal Account (Series Level Account) Beginning Balance Deposits Disbursements Ending Balance 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 0.00 5,259,473.34 5,259,473.34 0.00 0.00 0.00 0.00 0.00 Free Equity Amount Note Trust Principal Balance Aggregate Collateral Amount for all Series of Notes Free Equity Amount 9,217,452,763.88 7,512,626,000.00 1,704,826,763.88 Minimum Free Equity Percentage Outstanding Principal Balance Minimum Free Equity Amount 3.00% 7,500,000,000.00 225,000,000.00 Excess Funding Account (Trust Level Account) Beginning Balance Deposits Disbursements Ending Balance 0.00 0.00 0.00 0.00 Page 5 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Summary of Allocation of Collections 2,137,934,254.71 Total Principal Collections Principal Collections Allocated to Series 2004-2 Principal Collections Allocated to Series 2005-1 Principal Collections Allocated to Series 2005-2 Principal Collections Allocated to Series 2006-1 Principal Collections Allocated to Series 2006-2 Principal Collections Allocated to Series 2006-3 Principal Collections Allocated to Series 2006-4 295,272,387.74 292,319,724.66 175,391,834.79 350,783,669.59 116,927,889.86 233,855,779.73 292,319,724.66 Principal Collections Not Allocated to Any Series and Released to Transferor 381,063,243.68 Total Non Principal Collections 79,114,548.80 Non Principal Collections Allocated to Series 2004-2 10,926,595.00 Non Principal Collections Allocated to Series 2005-1 10,817,331.30 Non Principal Collections Allocated to Series 2005-2 6,490,398.77 Non Principal Collections Allocated to Series 2006-1 12,980,797.56 Non Principal Collections Allocated to Series 2006-2 4,326,932.52 Non Principal Collections Allocated to Series 2006-3 Non Principal Collections Allocated to Series 2006-4 Non Principal Collections Not Allocated to Any Series and Released to Transferor 8,653,865.04 10,817,331.30 14,101,297.31 Page 6 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Performance (1) Are there any material modifications, extensions, or waivers to pool assets? No (2) Are there any material breaches of pool of assets representations and warranties or covenants? No (3) Are there any changes in criteria used to originate, acquire, or select new pool assets? No (4) Has the master servicer made any Servicer Advances during the previous collection period? No (5) Has an early amortization event occurred? No (6) Have any Payment Rate Triggers been met? No Average Monthly Payment Rates < 18% Current Monthly Payment Rate 23.39% Prior Monthly Payment Rate 25.92% Second Prior Monthly Payment Rate 26.29% 3 Month Average Monthly Payment Rate 25.20% (7) Reserve Account balance < Reserve Account trigger No Reserve Account balance 39,393,931.20 (A) Required Reserve Account Percentage minus 0.25% 2.87 times (B) Note Principal Balance & Principal Overcollaterization Amount 1,262,626,000.00 Reserve Account trigger 36,237,366.20 (8) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer Current Month Prior Month Second Prior Month Third Prior Month Fourth Prior Month Fifth Prior Month No 2.26% 2.28% 2.30% 2.34% 2.33% 2.34% No (9) Have any new series been issued during the related monthly collection period? (10) Have any account additions or account removals occurred during the related monthly collection period? No Page 7 of 8 GE Dealer Floorplan Master Note Trust 2004-2 Payment Date: Collection Period Ended: Closing Date: Next Payment Date: Expected Principal Payment Date: Final Maturity Date: 3/20/2007 2/28/2007 8/12/2004 4/20/2007 7/20/2007 7/20/2009 Delinquency Amount (Dollars in Millions) Percentage of Total Receivables Outstanding 3.8 0.04% 2.1 0.02% 2.5 0.03% Days Outstanding 31 - 60 61 - 90 91 - 120 121 - 150 151 - 180 2.2 0.02% 0.4 0.00% 11.0 0.12% *Total *Figures may not foot due to rounding Page 8 of 8