GE Contributes Nearly $700,000 Plus Materials and Services to India Earthquake Relief.

Business Editors

FAIRFIELD, CONN.--(BUSINESS WIRE)--March 20, 2001

In response to the devastating January 26 earthquake in Gujarat, India, GE businesses, employees and the GE Fund responded immediately with an outpouring of support worldwide.

Though GE suffered no personal injury to employees and little damage to facilities, officials estimate 17,000 people died in the quake, with a million left homeless and infrastructure destroyed or badly damaged.

GE Capital and GE Power Controls took swift action, providing necessary resources to help stabilize India's infrastructure. GE Capital is converting over 800 shipping containers into temporary facilities for housing, village offices, schools and shelters. GE Power Controls is repairing the 132 KV Switchyard, a vital transportation link in the Anjar region of the Kutch District, at a cost to the company of approximately $20,000.

Many GE employees in India contributed one day's pay, which was matched by their GE businesses for a total donation of $110,000 to the Prime Minister's Relief Fund. GE employee and retiree contributions to Americares and the US Fund for UNICEF were matched by the GE Fund, GE's philanthropic foundation, for a total over $500,000. The GE Fund also issued a separate $50,000 grant to the US Fund for UNICEF. GE Canada employees were matched dollar to dollar by GE Canada in an additional $4,750 contribution to UNICEF.

Further efforts were made by GE Elfun, GE's global volunteer organization, to immediately mobilize GE employees in the massive relief effort. GE Elfun India partnered with the Red Cross and Charities Aid Foundation to sponsor blood donations and allocate materials. GE Elfun chapters worldwide collected and matched GE employee donations. In Hong Kong contributions over $10,000 were made to the Prime Minister's Relief Fund and GE Elfun Paris sent $4,000 to UNICEF.

Scott Bayman, President and CEO of GE India, said, "Once again GE employees have responded swiftly and generously to their neighbors in need, with the support of GE, the GE Fund, and GE Elfun. Our thoughts are with the families and communities that suffered from this devastating event."

GE is a diversified services, technology and manufacturing company with a commitment to achieving customer success and worldwide leadership in each of its businesses. For more information, visit the company's Web site at http://www.ge.com.