EXHIBIT 99.16
AMENDED AND RESTATED
MONTHLY CERTIFICATEHOLDERS' STATEMENT
FOR THE MONTH ENDED DECEMBER 2002
GENERAL ELECTRIC CAPITAL CORPORATION
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JCP MASTER CREDIT CARD TRUST
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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 October 15,
1997, Amendment No. 2 dated as of October 15, 1999, Amendment No. 3 dated as of
June 28, 2002, and Amendment No. 4 dated as of March 3, 2003 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 JPMorgan Chase Bank, f/k/a The Chase Manhattan Bank, as successor in
interest to 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 January 15, 2003 and with respect to the performance of the Trust during
the month of December 2002 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
BASIS OF $1,000 ORIGINAL CERTIFICATE PRINCIPAL AMOUNT) FOR CLASS A OF
THIS SERIES.
1. The total amount of the distribution to Certificateholders
per $1,000 original Certificate principal
amount........................................................$ 5
2. The amount of the distribution set forth in paragraph 1
above allocable to Certificate Principal, per $1,000
original Certificate principal amount.........................$ 0
3. The amount of the distribution set forth in paragraph 1
above allocable to Certificate Interest, per $1,000
original Certificate principal amount.........................$ 5
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST.
1. Collection of Principal Receivables
(a) The aggregate amount of Collections of
Principal Receivables processed which were
allocated in respect of the Certificates of
Class A of this Series.............................$ 108,599,953
(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.............................................$ 108,599,953
2. Collection of Finance Charge Receivables
(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.............................$ 14,829,591
(b) The aggregate amount of Discount Option
Receivable Collections which were allocated in
respect of the Certificates of Class A of this
Series.............................................$ 0
(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
(d) The net amount of Collections of Finance Charge
Receivables which were allocated in respect of
the Certificates of Class A of this Series.........$ 14,829,591
3. Net Recoveries
The aggregate amount of Net Recoveries which were
allocated in respect of the Certificates of Class A of
this Series...................................................$ 0
4. Principal Receivables in the Trust
(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).......$ 1,578,321,104
(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...................... 50.22%
(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.................. 41.18%
5. Delinquent Balances
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) 1 month...............................................$ 76,443,757
(b) 2 months.............................................. 24,633,176
(c) 3 months.............................................. 18,306,726
(d) 4 months.............................................. 13,090,056
(e) 5 months.............................................. 10,959,581
(f) 6 months.............................................. 7,575,963
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Total.................................................$ 151,009,259
6. Investor Default Amount
The aggregate amount of the Investor Default Amount which
was allocated in respect of the Certificates of Class A of
this Series...................................................$ 5,159,467
7. Investor Charge Offs; Reimbursement of Charge Offs
(a) The aggregate amount of Investor Charge Offs
which was allocated in respect of the
Certificates of Class A of this Series.............$ 0
(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
(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
(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
8. Investor Monthly Servicing Fee
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
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
10. Available L/C Amount
The Available L/C Amount as of the close of business on
the Distribution Date specified above for Class A of this
Series........................................................$ 0
C. THE POOL FACTOR.
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.)......................................... 1.000
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Monthly Certificateholders' Statement this 25th day of October, 2004.
GENERAL ELECTRIC CAPITAL CORPORATION,
as Servicer
By: /s/ Iain J. Mackay
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Name: Iain J. Mackay
Title: Authorized Signatory