Share Owner Proposal No. 3
GE Stockholders' Alliance, P.O. Box 754, Fair Oaks, CA 95628-0754, and other filers have notified GE that they intend to submit the following proposal at this year's meeting:

"Whereas the excessive financial and environmental cost and risk of nuclear power has led Germany, Sweden and the Netherlands to abandon it for their future, and move to renewable energy instead, and these countries combined own nearly 1/3 of western European reactors;

"Whereas growing threats of terrorism make new reactor sales more unlikely and dangerous, and the next generation of 'advanced' helium-cooled pebble-bed reactors pose significant new security risks;

"Whereas Moody's average bond ratings for utilities with significant nuclear investments have been significantly lower than for utilities with no nuclear investments;

"Whereas premature aging of core and containment systems from radiation exposure and corrosion, and other technical flaws, make necessary extensive retrofits of GE's reactors; continued operation of these reactors could result in a catastrophic accident, exposing GE to financial risk, and exposing workers and the public to potential great harm;

"Whereas GE-Nuclear Energy brings in only about 1.25% of the Company's revenues:

"Whereas each 1000 megawatt reactor generates enough plutonium each year for 40 nuclear bombs;

"Whereas mitigating global warming would require one nuclear reactor to go on line every three days for the next 40 years, adding more radioactive waste with no safe disposal technology or location, and siphoning off trillions of dollars that could be used for clean, safe, renewable energy - the REAL solution to global warming:

"Therefore Be It Resolved that the Shareholders request Management to prepare a report for Shareholders within four months, to examine: (1) the feasibility of implementing the phased withdrawal of GE from promotion and production of new nuclear power reactors and (2) the facilitation of expedited decommissioning of GE reactors currently on line. That report should include an evaluation of the economic, ethical, environmental, national security, nuclear weapons proliferation and public health impacts from GE's continuing participation in nuclear power.

"Supporting Statement: It has been nearly 30 years since an order was placed (and not subsequently canceled) for a U.S. nuclear power plant, and over 300 American-made reactors of all types, including for research and the military, have already been shut down. Nuclear power is declining worldwide.

"While GE should service reactors as long as they are in use, we believe GE should also (1) assist customers in phasing out nuclear operations, and retrofitting current nuclear power plants to run on alternative fuels, such as natural gas; (2) direct the expertise of GE's nuclear engineers toward the permanent isolation of radioactive waste from the biosphere; and (3) develop and promote renewables such as wind and solar power, a fast-growing energy sector with a promising future.

"GE's commitment to a declining industry with growing risk is contrary to the interests of GE shareholders and the public. The requested report will assist shareholders and management in bringing GE to a high moral ground of corporate responsibility and leadership in energy production, global security and the environment. We urge your supporting vote."

Your Board of Directors recommends a vote AGAINST this proposal.
Nuclear power makes a significant contribution to meeting the world's demand for electricity. In 2001, approximately 17% of the world's electricity was generated from commercial nuclear plants. The Nuclear Regulatory Commission in the United States and similar regulatory bodies in other countries have the ongoing responsibility to ensure that nuclear facilities operate safely.

The major focus of GE's profitable nuclear business today is to provide nuclear fuel and plant support services with the aim of enhancing safe and efficient utility operations. These products and services should be available to utility customers throughout the world who need and want them. Your Board believes it is also appropriate for GE to participate in the development of advanced designs for nuclear generating plants for sale, under appropriate conditions and safeguards, to utility customers in areas of the world where a mix of technologies will be necessary to supply a growing and balanced need for electrical generating capacity. Therefore, your Board recommends a vote against this proposal.