GE Dealer Floorplan Master Note Trust

2004-2

Payment Date:			12/20/2004
Collection Period Ended:			11/30/2004
Closing Date:			8/12/2004
Next Payment Date:			1/20/2005
Expected Principal Payment Date:			7/20/2007
Final Maturity Date:			7/20/2009

						Note Payment Detail

					Principal	Interest
			Original Face	Beginning	Payment	Payment		Ending
Class	CUSIP	Interest Rate	Value	Class Balance	Amount	Amount	Total	Class Balance

A	36159LAD8	2.22000%	1,202,000,000.00	1,202,000,000.00	0.00	2,075,453.33	2,075,453.33	1,202,000,000.00
B	36159LAE6	2.43000%	38,000,000.00	38,000,000.00	0.00	71,820.00	71,820.00	38,000,000.00
C	36159LAF3	2.64000%	10,000,000.00	10,000,000.00	0.00	20,533.33	20,533.33

10,000,000.00

TOTALS

1,250,000,000.00

0.00

2,167,806.66

1,250,000,000.00

Beginning of Month Balance	3,219,345,153.06
New Volume	1,197,115,452.80
Principal Collections	955,484,350.45
Defaulted Amount	379,434.21
End of Month Balance	3,460,596,821.20


Overconcentrations
Dealer Overconcentration	0.00
Manufacturer Overconcentration	0.00
Product Line Overconcentration	0.00

Collections
Principal Collections	955,484,350.45
Non Principal Collections	17,575,999.29
Total Collections	973,060,349.74


Defaults
Default Amount	379,434.21
Series Allocation Percentage	39.22	%
Investor Default Amount	148,813.96

Charge-offs
Investor Charge-offs	0.00

Values above include the Note Trust Certificate

GE Dealer Floorplan Master Note Trust

2004-2

Payment Date:			12/20/2004
Collection Period Ended:			11/30/2004
Closing Date:			8/12/2004
Next Payment Date:			1/20/2005
Expected Principal Payment Date:			7/20/2007
Final Maturity Date:			7/20/2009

Allocation of Available Non Principal Collections

Series Allocation Percentage							39.22 %

Available Non Principal Collections Allocated to Series

6,893,300.54

Application of Available Non Principal Collections and Available Principal Collections

(a)

Available Non Principal Collections Allocated to Series

6,893,300.54

(i)

(A)

Amount to Indenture Trustee

0.00

(B)

Amount to Trustee

0.00

(C)

Amount to Administrator

250.00

(D)

Amount to Custodian

0.00

(ii)

Noteholder Servicing Fee

1,706,026.28

Unpaid Servicer Advances and interest thereon

0.00

(iii)

Class A Monthly Interest

2,075,453.33

(iv)

Class B Monthly Interest

71,820.00

(v)

Class C Monthly Interest

20,533.33

(vi)

Investor Default Amount (treated as Available Principal Collections)

148,813.96

Required Deposit to Principal Account

0.00

(vii)

Investor Charge-offs

0.00

Reimbursement of Investor Charge-offs

0.00

Unreimbursed Investor Charge-offs

0.00

Reallocation Principal Collections

0.00

Reimbursement of Reallocated Principal Collections

0.00

Unreimbursed Reallocated Principal Collections

0.00

Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections

0.00

(viii)

Amount Required to be Deposited to the Reserve Account

0.00

GE Dealer Floorplan Master Note Trust

2004-2

Payment Date:			12/20/2004
Collection Period Ended:			11/30/2004
Closing Date:			8/12/2004
Next Payment Date:			1/20/2005
Expected Principal Payment Date:			7/20/2007
Final Maturity Date:			7/20/2009

(ix)	Remaining Amounts due to:
	Indenture Trustee			0.00
	Trustee			0.00
	Administrator			0.00
	Custodian			0.00

(x)	Amounts otherwise required to be Deposited to Principal Account			0.00


Excess Non Principal Collections for Series 2004-1				3,048,384.26
Excess Non Principal Collections for Series 2004-2				3,019,217.60
Total Excess Non Principal Collections				6,067,601.86

Non Principal Shortfalls for Series 2004-1				0.00
Non Principal Shortfalls for Series 2004-2				0.00
Total Non Principal Shortfalls				0.00

Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2004-1				0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2004-2				0.00
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls				0.00

Released to Transferor				6,067,601.86


(b)	Revolving Period
	Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement			374,740,615.28

	Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture			374,740,615.28

(c)	Controlled Accumulation Period

	Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement			0.00

	(i)	Monthly Principal Deposited into the Principal Account		0.00
	(ii)	Monthly Principal Deposited to Distribution Account and paid to:
			Class A	0.00
			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

GE Dealer Floorplan Master Note Trust

2004-2

Payment Date:			12/20/2004
Collection Period Ended:			11/30/2004
Closing Date:			8/12/2004
Next Payment Date:			1/20/2005
Expected Principal Payment Date:			7/20/2007
Final Maturity Date:			7/20/2009

	Early Amortization Period
	Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement		0.00

	(i)	Monthly Principal Deposited into the Principal Account	0.00
	(ii)	Monthly Principal Deposited to Distribution Account and paid to:	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


Shared Principal Collections for Principal Sharing Series
Aggregate Shared Principal Collections for Principal Sharing Series			749,481,230.56

Aggregate Principal Shortfall for Principal Sharing Series
			0.00

Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2004-1			0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2004-2			0.00

Amount Deposited into the Excess Funding Account			0.00

Released to Transferor			749,481,230.56


Reserve Account (Series Level Account)
Beginning Reserve Account Amount			39,393,931.20
Required Reserve Account Amount
	Required Reserve Account Percentage		3.12%
	Note Principal Balance		1,250,000,000.00
	Principal Overcollateralization Amount		12,626,000.00
	Subtotal		1,262,626,000.00
Required Reserve Account Amount			39,393,931.20


Reserve Account Deficiency			0.00
Reserve Account Deposits			57,468.76
Reserve Account Withdrawals			57,468.76

Ending Reserve Account Amount

39,393,931.20

GE Dealer Floorplan Master Note Trust

2004-2

Payment Date:			12/20/2004
Collection Period Ended:			11/30/2004
Closing Date:			8/12/2004
Next Payment Date:			1/20/2005
Expected Principal Payment Date:			7/20/2007
Final Maturity Date:			7/20/2009

Non-Principal Account (Series Level Account)	0.00
Deposits	2,167,806.66
Disbursements	2,167,806.66
Ending Balance	0.00

Principal Account (Series Level Account)
Beginning Balance	0.00
Deposits	0.00

Ending Balance	0.00

Free Equity Amount

Note Trust Principal Balance	3,219,345,153.06
Aggregate Collateral Amount for all Series of Notes	2,525,252,000.00
Free Equity Amount	694,093,153.06

Minimum Free Equity Percentage	5.00	%
Note Trust Principal Balance	3,219,345,153.06
Minimum Free Equity Amount	160,967,257.65

Excess Funding Account (Trust Level Account)
Beginning Balance	0.00
Deposits	0.00
Disbursements	0.00
Ending Balance	0.00

Monthly Payment Rate
Current Monthly Payment Rate	29.68	%
Prior Monthly Payment Rate	32.91	%
Second Prior Monthly Payment Rate	33.42	%
3 Month Average Monthly Payment Rate	32.01	%

GE Dealer Floorplan Master Note Trust

2004-2

Payment Date:			12/20/2004
Collection Period Ended:			11/30/2004
Closing Date:			8/12/2004
Next Payment Date:			1/20/2005
Expected Principal Payment Date:			7/20/2007
Final Maturity Date:			7/20/2009

Summary of Allocation of Collections

Total Principal Collections			955,484,350.45
Principal Collections Allocated to Series 2004-1			374,740,615.28
Principal Collections Allocated to Series 2004-2			374,740,615.28
Principal Collections Not Allocated to Any Series and Released to Transferor			206,003,119.89


Total Non Principal Collections			17,575,999.29
Non Principal Collections Allocated to Series 2004-1			6,893,300.54
Non Principal Collections Allocated to Series 2004-2			6,893,300.54
Non Principal Collections Not Allocated to Any Series and Released to Transferor			3,789,398.21

DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST 8-K