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GE INVESTMENTS ENTERS FULL-SERVICE 401(k) MARKET WITH BROAD LINE OF MUTUAL FUNDS

 STAMFORD, Conn., Jan. 3 /PRNewswire/ -- GE Investments today announced that it is entering the full-service 401(k) market with its family of mutual funds. The move, made in conjunction with State Street Bank & Trust Co. of Boston, follows GE Investments' recent registration with the NASD as a mutual fund broker-dealer to provide services relating to the sale of GE Funds, a diversified line of five mutual funds. State Street Bank will provide plan administration and trustee services.
 "We're enthusiastic about the business opportunity presented by this new venture," said Dale F. Frey, chairman of the board and president of GE Investments. "With our years of experience managing mutual funds for GE's employee savings program, this is a natural market extension for us. We believe the market for 401(k) and other defined contribution pension plans will continue their double digit growth through the decade," he added.
 GE Investment Management, under its wholly owned subsidiary, GE Investment Services, Inc., will provide plan sponsors with active investment management of its funds, as well as employee communications and customer support services.
 State Street Bank and its subsidiaries will serve as custodian and transfer agent for the GE Funds, and record keeper for plan participants. "We're pleased to continue the development of our unique relationship with GE as a full-service provider," said Marshall N. Carter, State Street's chairman and chief executive officer, "and look forward to providing integrated support services for the sale of GE Funds."
 Launched in January 1993, the family of GE Funds includes U.S. equity, global equity, fixed income, strategic investment and money market mutual funds. "We feel this is a well-rounded line of funds from which plan participants can choose," Frey said.
 GE Investments, one of the largest independent money managers in the U.S., today serves some 50 corporate and public institutional clients in the investment areas of U.S. and international equities, taxable and tax-exempt fixed income, real estate and alternative investments.
 State Street Bank is a leading servicer of financial assets worldwide. It has $1.5 trillion in assets under custody and $133 billion in assets under management.
 -0- 1/3/94
 /CONTACT: Janet H. Hengelbrok of GE Investments, 203-326-4068/
 (GE)


CO: GE Investments ST: Connecticut IN: FIN SU: PDT

TW-CK -- NY036 -- 8506 01/03/94 12:34 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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