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Press Release

GE Acquires Global Field Measurement Technology Company, Panametrics

July 24, 2002

GE Acquires Global Field Measurement Technology Company, Panametrics ATLANTA--(BUSINESS WIRE)--July 24, 2002--GE Power Systems announced today it has acquired Panametrics Inc., a global leader in high-technology ultrasonic testing equipment and process control instrumentation.

The company will become part of GE's Energy Management Services business and will be known as GE Panametrics. Panametrics develops highly specialized, harsh-environment sensors and instruments for nondestructive testing, solar radiation detection and process measurement instrumentation.

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FedEx Signs Engine Purchase & Service Agreement for Airbus A380 Freighters

July 23, 2002

FedEx Signs Engine Purchase & Service Agreement for Airbus A380 Freighters FARNBOROUGH, England--(BUSINESS WIRE)--July 23, 2002--FedEx Express, a subsidiary of FedEx Corp., (NYSE:FDX), has become the third customer to select the GE-P&W Engine Alliance's GP7200. FedEx Express has signed a contract with the GE-P&W Engine Alliance for GP7200 series engines to power 10 firm Airbus A380-800F freighter aircraft. In addition, FedEx has signed a 20-year fleet management agreement with the Engine Alliance for the engines' maintenance that begins in 2008.

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GE Global Exchange Services to Provide e-Commerce Solutions in Collaboration With the Government of Sri Lanka

July 23, 2002

GAITHERSBURG, Md.--(BUSINESS WIRE)--July 23, 2002--

GXS to Provide Technology for Project Intended to Expedite Freight Clearance for Importers and Exporters

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GE Power Systems Announces Plans to Reduce WorkforceDue to Lower Equipment Demand

July 23, 2002

GE Power Systems Announces Plans to Reduce Workforce

Due to Lower Equipment Demand

ATLANTA--(BUSINESS WIRE)--July 23, 2002--GE Power Systems (GEPS)

has announced plans to eliminate approximately 2,500 jobs over the

next nine months and expectations of further reductions in late 2003

in response to the reduction in the demand for power generation

equipment.

The announced employment reductions will occur primarily in the

turbine production facilities of its Energy Products business where

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Press Release

GE Wins Major Hydro Service Contract in Norway

July 17, 2002

GE Wins Major Hydro Service Contract in Norway OSLO, Norway--(BUSINESS WIRE)--July 17, 2002--Norway's biggest power producer, Statkraft SF, has awarded the largest turbine upgrade contract in the company's history to GE Hydro, a unit of GE Power Systems, for the refurbishment of five hydropower plants.

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Press Release

GE Wins Major Hydro Service Contract in Norway

July 17, 2002

GE Wins Major Hydro Service Contract in

Norway

OSLO, Norway--(BUSINESS WIRE)--July 17, 2002--Norway's biggest

power producer, Statkraft SF, has awarded the largest turbine upgrade

contract in the company's history to GE Hydro, a unit of GE Power

Systems, for the refurbishment of five hydropower plants.

The project covers 770 megawatts of capacity and is valued at

US$11.9 million.

This is the most extensive turbine modernization project to date

for the Oslo-based Statkraft, which owns about 30 percent of the

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GE Medical Systems Donates $6.5 Million in Ultrasound Systems to Improve Healthcare in Developing Countries

July 15, 2002

SCOTTS VALLEY, Calif. & MILWAUKEE--(BUSINESS WIRE)--July 15, 2002--
First donations through Assist International to be made
to African nations, Afghanistan
Today GE Medical Systems, a unit of General Electric Company (NYSE: GE), announced the donation of more than 200 ultrasound systems, probes and accessories to Assist International, a non-profit humanitarian organization involved in donating and installing high-tech medical equipment in hospitals and clinics in developing countries. The donation is valued at $6.5 million.

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GE Wins Grand Coulee Generator Upgrade Project

July 15, 2002

GE Wins Grand Coulee Generator Upgrade Project ATLANTA--(BUSINESS WIRE)--July 15, 2002--The U.S. Department of the Interior's Bureau of Reclamation has awarded GE Power Systems a $3.8 million contract for a generator refurbishment project at the Grand Coulee Powerplant in Washington State. Located at Grand Coulee Dam on the Columbia River, the Grand Coulee hydroelectric power plant is the largest power production facility in North America, generating an average of 21 billion kWh annually.

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GE Grows Second-Quarter Earnings 14% To a Record $4.4 Billion, With Industrial Revenues Up 10%; Reconfirms Full-Year Target of $1.65-$1.67 Per Share

July 12, 2002

FAIRFIELD, Conn.--(BUSINESS WIRE)--July 12, 2002--General Electric Company (NYSE:GE)--GE's second-quarter 2002 earnings grew 14% over second quarter 2001 to $4.4 billion, or $.44 per share, the highest of any quarter in the Company's history, GE Chairman and CEO Jeff Immelt announced today.

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Three GE Gas Turbines Selected for New Power Plant in China

July 11, 2002

Three GE Gas Turbines Selected for New Power Plant in China ATLANTA--(BUSINESS WIRE)--July 11, 2002--GE Power Systems has received a contract of approximately $38 million Euros (US$35.4 million) to supply three gas turbine-generators for a combined-cycle plant that will provide 175 megawatts of power for a world-scale, integrated petrochemical site being developed in Nanjing, Jiangsu Province, China.

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