Exhibit 99.1
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MONTHLY CERTIFICATEHOLDERS' STATEMENT 1.
GENERAL ELECTRIC CAPITAL CORPORATION
_______________________________________
JCP MASTER CREDIT CARD TRUST
_______________________________________
5.50% ASSET BACKED CERTIFICATES
SERIES E (Class A)
CUSIP NO. 466115AE2
Under Section 5.2 of the Master Pooling and Servicing Agreement dated
as of September 5, 1988, as amended by Amendment No. 1 dated as of December 15,
1997 and Amendment No. 2 dated as of December 15, 1999 and as supplemented by
the Series A, Series B, Series C, Series D and Series E Supplements thereto (as
so amended and supplemented, the "Pooling and Servicing Agreement"), by and
among JCP Receivables Inc., JCPenney Company, Inc. ("JCPenney"), as Servicer and
The Fuji Bank and Trust Company (the "Trustee"), General Electric Capital
Corporation (as the successor and assign of JCPenney pursuant to the Assignment
and Assumption Agreement dated as of December 6, 1999) is required to prepare
certain Information for each Series each month regarding current distributions
to Certificateholders of such Series and the performance of the JCP Master
Credit Card Trust (the "Trust") during the previous month. The Information which
is required to be prepared with respect to the Distribution Date of November 15,
2000, and with respect to the performance of the Trust during the month of
October, 2000 is set forth below. Certain of the information is presented on the
basis of an original principal amount of $1,000 per Investor Certificate of
Class A of this Series (a "Certificate"). Certain other information is presented
based on the aggregate amounts for the Trust as a whole. Capitalized terms used
in this Certificate have their respective meanings set forth in the Pooling and
Servicing Agreement.
A. Information Regarding the Current Monthly Distribution (Stated on the
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Basis of $1,000 Original Certificate Principal Amount) for Class A of
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this Series.
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1. The total amount of the distribution to Certificateholders per
$1,000 original Certificate Principal amount ................ $ 4.58
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2. The amount of the distribution set forth in paragraph 1 above
allocable to Certificate Principal, per $1,000 original
Certificate Principal amount................................. $ 0.00
3. The amount of the distribution set forth in paragraph 1 above
allocable to Certificate Interest, per $1,000 original
Certificate Principal amount................................. $ 4.58
B. Information Regarding the Performance of the Trust.
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1. Collection of Principal Receivables
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(a) The aggregate amount of Collections of Principal
Receivables processed which were allocated in respect
of the Certificates of Class A of this Series....... $ 81,471,944
(b) The Discounted Percentage in Respect of the
Collections of Principal Receivables set forth in
paragraph 1.(a)above................................ 0.00%
(c) The net amount of Collections of Principal
Receivables processed which were allocated in respect
of the Certificates of Class A of this Series....... $ 81,471,944
2. Collection of Finance Charge Receivables
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(a) The aggregate amount of Collections of Finance Charge
Receivables processed which were allocated in respect
of the Certificates of Class A of this
Series.............................................. $ 11,915,949
(b) The aggregate amount of Discount Option Receivable
Collections which were allocated in respect of the
Certificates of Class A of this Series.............. $ 0.00
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(c) The portion of Collections of Finance Charge
Receivables set forth in paragraph 2.(a) above which
were allocated in respect of the Certificates of
other Series........................................ $ 0.00
(d) The net amount of Collections of Finance Charge
Receivables which were allocated in respect of the
Certificates of Class A of this Series.............. $ 11,915,949
3. Net Recoveries
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The aggregate amount of Net Recoveries which were allocated in
respect of the Certificates of Class A of this Series ....... $ 0.00
4. Principal Receivables in the Trust
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(a) The aggregate amount of Principal Receivables in the
Trust as of the end of the day on the last day of
such month (which reflects the Principal Receivables
represented by the JCPR Amount and by the Aggregate
Investor Amount).................................... $ 1,710,846,516
(b) The amount of Principal Receivables in the Trust
represented by the Aggregate Investor Amount as of
the end of the day on the last day of such month
.................................................... $ 792,682,926
(c) The Aggregate Investor Amount set forth in paragraph
4(b) above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph 4(a)
above............................................... 46.33%
(d) The Aggregate Investor Amount for Class A of this
Series as a percentage of the aggregate amount of
Principal Receivables in the Trust as set forth in
paragraph 4(a) above................................ 37.99%
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5. Delinquent Balances
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The aggregate amount of outstanding balances in the Accounts
in the Trust which were delinquent as of the end of the day on
the last day of such month:
Aggregate
Account Balance
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(a)1month: ......................... $ 64,948,536
(b)2months:......................... 18,223,641
(c)3 months: ....................... 12,124,023
(d)4months:........................ 7,942,557
(d)5months:........................ 6,525,715
(d)6months:........................ 4,949,658
Total: $ 114,714,131
6. Investor Default Amount
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The aggregate amount of the Investor Default Amount which was
allocated in respect of the Certificates of Class A of this
Series....................................................... $ 2,175,167
7. Investor Charge Offs; Reimbursement of Charge Offs
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(a) The aggregate amount of Investor Charge Offs which
was allocated in respect of the Certificates of Class
A of this Series.................................... $ 0.00
(b) The amount of the Investor Charge Offs set forth in
paragraph 7(a) above, per $1,000 original Certificate
Principal amount (which will have the effect of
reducing pro rata, the amount of each
Certificateholder's investment) allocated to Class A
of this Series ..................................... $ 0.00
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(c) The aggregate amount reimbursed to the Trust in the
current month from drawings under the Letter of
Credit in respect of Investor Charge Offs in
prior months........................................ $ 0.00
(d) The amount set forth in paragraph 7(c) above, per
$1,000 original Certificate Principal amount (which
will have the effect of increasing, pro rata, the
amount of each Certificateholder's investment)
allocated to Class A of this Series................. $ 0.00
8. Investor Monthly Servicing Fee
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The amount of the Investor Monthly Servicing Fee for Class A
of this Series for the preceding Monthly Period payable by the
Trust to the Servicer ....................................... $ 1,083,333
9. Investor Monthly Facility Fee
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The amount of the Investor Monthly Facility Fee for Class A of
this Series for the preceding Monthly Period payable by the
Trust to JCPR ............................................... $ 0.00
10. Available L/C Amount
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The Available L/C Amount as of the close of business on the
Distribution Date specified above for Class A of this Series. $ 0.00
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C. The Pool Factor.
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The Pool Factor (which represents the ratio of the Adjusted
Investor Amount for Class A of this Series as of the end of
the last day of such month to the applicable Initial Investor
Amount). (The amount of a Certificateholder's pro rata share
of the Investor Amount can be determined by multiplying the
original denomination of the Holder's Certificate by the Pool
Factor) ..................................................... 1.000000
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GENERAL ELECTRIC CAPITAL CORPORATION,
as Servicer
By: /s/ Michael W. Towe
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Title: Attorney-in-Fact
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