GE Medical Systems Acquires USA Instruments, Inc.

Business Editors/Health & Medical Writers

WAUKESHA, Wis. and CLEVELAND--(BUSINESS WIRE)--Dec. 3, 2002

GE Medical Systems, a unit of General Electric Company (NYSE: GE), today announced that it has acquired USA Instruments, Inc. (USAI), a global designer and manufacturer of magnetic resonance imaging (MRI) surface coil products.

Since its founding in 1993, USAI has been an innovator in the development of high-quality, cost-effective MRI coils. Based in Cleveland, Ohio, USAI has more than 250 people employed in research and development, engineering and manufacturing.

"Our need for multi-channel MRI coils continues to grow rapidly, driven by the success of GE's EXCITE(TM) technology and the rapid growth of GE's 3.0 Tesla (3T) and Open MRI product offerings," said Joseph Hogan, President and CEO of GE Medical Systems. "GE Medical has developed centers of excellence around strategic components for our diagnostic imaging equipment, such as MRI magnets. With the growth of EXCITE, 3T and Open system platforms, MRI surface coils have become equally as strategic to the performance of an MRI system. With USAI's coil development knowledge and expertise, we will be able to deliver even more high-quality surface coils and MRI products for customers around the world," explained Hogan.

GE was the first company to offer a 3T whole-body MRI system and introduced EXCITE technology earlier this year. EXCITE is a complete redesign of the MR image data pipeline, enabling the MRI system to incorporate new and innovative coil designs. This improves the physicians' ability to diagnose disease. 3T systems have twice the magnetic field strength of 1.5T systems, resulting in improved image quality. USAI's advanced coil technology maximizes the capabilities of both 3Tand EXCITE.

"We are very happy to be joining the GE Medical Systems family," stated Mark Xueming Zou, who will remain President of USAI. "By joining forces with GE, we will be able to accelerate the development of multi-channel coils across all MRI platforms from 0.2T to 7T. We remain committed to supporting all original equipment manufacturers (OEM's) with their MR surface coil needs."

"This acquisition is the perfect complement to GE Medical Systems' MRI technology direction," according to Dennis Cooke, General Manager of Global MR for GE Medical Systems. "With EXCITE technology and USAI's research and development work with multi-channel and parallel imaging coil designs, we will continue to lead the development of many more important MRI breakthroughs."

The acquisition of USAI by GE Medical Systems was completed this morning and announced at the annual meeting of the Radiological Society of North America (RSNA), held in Chicago. Terms of the transaction were not disclosed.

About USA Instruments, Inc.

USAI is a global leader in engineering, manufacturing, and distribution of MRI coils. Since 1993, USAI has demonstrated the company's strength and excellence with its high-performance and quality-driven product line for all major MRI applications. The company is committed to achieving total customer satisfaction and providing technically superior and high-quality products at competitive prices.

About GE Medical Systems

GE Medical Systems is a $9 billion global leader in medical imaging, interventional procedures, healthcare services, and information technology. Its offerings include networking and productivity tools, clinical information systems, patient monitoring systems, surgery and vascular imaging, conventional and digital X-ray, computed tomography, electron beam tomography, magnetic resonance imaging, bone mineral densitometry, positron emission tomography, nuclear medicine, and a comprehensive portfolio of clinical and business services. For more than 100 years, health care providers worldwide have relied on GE Medical Systems for high quality medical technology and productivity solutions. For more information, visit the GE Medical Systems Web site at www.gemedical.com.

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. USAI Inc. and General Electric Company caution that there can be no assurance that actual results or conditions will not differ materially from those projected or suggested in such forward-looking statements based on a variety of factors, including, but not limited to, the companies' early stages of development, product developments risks, uncertainty of additional funding, competition, reliance on a few customers, and the companies' abilities to protect their patents and proprietary rights and commercialize their products. USAI and GE disclaim any intent or obligation to update these forward-looking statements.