GE, Nuclearelectrica Sign Multi-Year Services and Maintenance Agreement Valued at Up To $146 Million

GE's New Services Agreement for Cernavoda Nuclear Plant Supports Romania's Goals for Reliable, Efficient and Secure Energy Supply

BUCHAREST, ROMANIA---January 20, 2010---GE (NYSE: GE) and Nuclearelectrica, Romania's state-owned nuclear utility, have signed a services and maintenance agreement for the Cernavoda Nuclear Power Plant (NPP), valued at up to US$146 million. According to the Romanian Energy Regulatory Authority (ANRE), Cernavoda NPP supplies 20% of Romania's energy. This new agreement supports Nuclearelectrica's goals to produce reliable, safe and efficient energy, a key part of Romania's national strategy for social and economic development.

"The service and maintenance agreement with GE further supports our commitment to ensure the reliability of electricity supply for the Romanian people," said Pompiliu Budulan, general director of Nuclearelectrica. "Romania is investing in cleaner energy production, and nuclear power is a major part of that strategy. As Romania's only nuclear power plant, Cernavoda plays a critical role in meeting our growing energy requirements."

Among the dignitaries attending Tuesday's signing ceremony were Adriean Videanu, the Romanian Minister of Economy, Trade & Business Environment; Mark Gitenstein, the U.S. Ambassador to Romania; and representatives of Nuclearelectrica and GE.

The new eight-year agreement covers full maintenance and repair services for the GE steam turbine-generators and auxiliary equipment at Cernavoda Units 1 and 2, which produce more than 1,400 megawatts of power for Romania's electricity grid. Unit 1 has been in operation since 1996, while Unit 2 was commissioned in 2007.  Nuclearelectrica's long-range plans call for four nuclear units at the Cernavoda site.

GE's agreement replaces and expands upon a previous four-year contract with Nuclearelectrica for Unit 1 that recently expired. "Our history of successfully supporting installation and maintenance activities at Cernavoda and delivering on our commitments was a key factor in winning the new agreement," said Rod Christie, president, GE Energy Central & Eastern Europe, Russia & CIS.

Christie added, "This latest agreement illustrates our localization strategy for Eastern Europe, and builds on our successful track record in Romania as the country seeks to expand and diversify its energy resources.  It also highlights our commitment to provide cleaner, smarter, and more efficient energy solutions that help our customers and communities to grow their economies and improve living standards." He noted that the service agreement follows several other recent GE projects in Romania, including the supply of equipment for the Fantanele and Cogelac wind farms and the Petrom Combined-Cycle Power Plant.

Established in 1998, Nuclearelectrica's primary mission is the production of nuclear power and nuclear fuel, and the continuing development of the Cernavoda Nuclear Power Plant. The company reports to Romania's Ministry of Economy and Trade.

About GE

GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.

GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With 60,000 global employees and 2008 revenues of $38.6 billion, GE Energy www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy - GE Power & Water, GE Energy Services and GE Oil & Gas - work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.

For more information, visit the company's Web site at www.ge.com. GE is imagination at work.

Howard Masto
Masto Public Relations
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Ken Darling
Masto Public Relations
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