GE Energy's Nuclear Business Marks 50th Anniversary in Global Industry.

GE Reflects on 'Atoms for Peace' Beginnings, Prepares for 'Nuclear Renaissance'

WILMINGTON, N.C. -- Subhead of release should read: GE Reflects on 'Atoms for Peace' Beginnings, Prepares for 'Nuclear Renaissance' (sted GE Reflects on 'Atoms to Peace' Beginnings, Prepares for 'Nuclear Renaissance').

The corrected release reads:

GE ENERGY'S NUCLEAR BUSINESS MARKS 50TH ANNIVERSARY IN GLOBAL INDUSTRY

GE Reflects on 'Atoms for Peace' Beginnings, Prepares for 'Nuclear Renaissance'

GE Energy's nuclear business today formally marked its 50th anniversary as a leading reactor technology provider for the global nuclear industry. GE's employees in North America, as well as throughout Europe and Asia, celebrated the historic milestone.

GE entered the nuclear industry in 1956, just three years after President Dwight D. Eisenhower, in his famous 1953 "Atoms for Peace" speech at the United Nations, called for the peaceful use of nuclear energy. Since then, GE has established itself as the global industry's leading designer of boiling water reactor (BWR) technology and services.

In those spanning years, GE's nuclear business has experienced dramatic changes, reflecting similar developments throughout the industry.

For GE, those changes include the 2003 move of its headquarters to Wilmington, from San Jose, Calif., as part of GE's initial preparations for an expected "renaissance" in the global industry after a 25-year lull in the U.S. and western European reactor markets.

Since moving its headquarters to North Carolina, GE has announced a number of other major initiatives. This includes a $78 million expansion of its Wilmington site to prepare for new unit orders.

As part of its Wilmington expansion project, in May 2006, GE began building a new advanced reactor technology design center, which will house more than 200 engineers, project managers and support staff after it is completed in early 2007. Much of the work will focus on planning site-specific engineering work.

Several U.S. customers have already selected GE's advanced BWR technology for a number of potential projects.

"GE's commitment to its nuclear business, and the overall industry, has never been higher in our 50-year history," said Andy White, president and CEO of GE Energy's nuclear business. "Nuclear power remains an integral part of achieving a balanced energy portfolio and one of the many solutions to establishing a more sustainable energy future for the entire world. We are excited to celebrate this milestone, even as we anticipate continued growth and innovation in the decades to come. We are committed to meeting the world's growing energy demands with clean, safe, and reliable nuclear power."

GE's move to North Carolina not only brought GE closer to a majority of its U.S. customers, but also has had a significant economic impact on Wilmington and the rest of the state.

"The relocation of the nuclear energy business headquarters to Wilmington has had an enormously positive effect on our community," said Scott Satterfield, CEO of Wilmington Industrial Development Inc. "Since their announcement, our area - which previously had been experiencing a declining job market - has added thousands of new jobs and seen several other companies choose Wilmington for expansion. GE is not just a great company, but they make good neighbors. We're glad to have played a part in their relocation."

GE Energy's nuclear business develops advanced light water reactors and provides a wide array of technology-based products and services to help owners of both boiling and pressurized water reactors safely operate their facilities with greater efficiency and output.

About GE Energy

GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2005 revenue of $16.5 billion. Based in Atlanta, Georgia, GE Energy works 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.

Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.