GE Tuesday Technology Brief.

Technology Editors

FAIRFIELD, Conn.--(BUSINESS WIRE)--Aug. 14, 2001

August 14 2001:

    1. GE POWER SYSTEMS COMPLETES ACQUISITION FOR SOLE OWNERSHIP OF GE
       HARRIS ENERGY CONTROL SYSTEMS

    2. GE APPLIANCES INTRODUCES NEW COMMERCIAL LAUNDRY PRODUCTS;
       COMPANY SEES GREAT OPPORTUNITY IN GROWING COMMERICAL MARKET

    3. REASSURER SURVEY SAYS INTERNET SALES SET TO FLOURISH; GE
       FRANKONA RE STUDIES STAND-ALONE TERM ASSURANCE MARKET

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       GE POWER SYSTEMS COMPLETES ACQUISITION FOR SOLE OWNERSHIP OF
                    GE HARRIS ENERGY CONTROL SYSTEMS

      General Electric announced the successful completion of its
acquisition from Harris Corporation of Harris' minority equity
interest in GE Harris Energy Control Systems, LLC, a leading provider
of innovative, real-time information technology solutions to the
electric utility industry.
      The completion of the acquisition of Harris' equity interest in GE
Harris Energy Control Systems further strengthens GE's investment in
solutions for automation, control, and monitoring of utility T&D
infrastructure. The transaction follows several investments with
leading technology providers. The two most recent acquisitions were
Programma Electric, AB, a provider of substation monitoring
instrumentation and GE Smallworld, a provider of geo-spatial network
solutions for utility as well as communication and public sectors.
      These investments further enable GE to provide a comprehensive
offering that improves productivity and service reliability for T&D
utilities around the world. The GE Power Systems T&D automation
solutions include energy transmission, distribution, and outage
management systems; geospatial network and engineering software;
substation automation, monitoring, and test systems; and T&D
consulting and repair services.
      John Rice, CEO of GE Power Systems, commented, "We are excited at
the opportunities now open to us with the full acquisition of GE
Harris Energy. As we integrate the strengths of GE Harris Energy, we
are positioned to provide some of the most innovative software and
automation solutions to the utility industry worldwide." "The utility
industry is moving towards more real-time, comprehensive information
systems for improved asset management and service reliability," said
Steve Bolze, CEO of GE Harris Energy and GM of Energy Management
Services, a GE Power Systems business. "As we continue to address the
needs of our customers, the GE Harris talent and technologies are
valuable additions to our GE offering."
      The GE Harris Energy Control Systems joint venture was formed in
1997 and was headquartered in Melbourne, FL. GE held a controlling 51
percent interest in the joint venture, and Harris held a 49 percent
interest.
      GE Power Systems (www.gepower.com) is one of the world's leading
suppliers of power generation technology, energy services and
management systems with 2000 revenues of $15 billion. The business has
the largest installed base of power generation equipment in the global
energy industry. Through a series of acquisitions and alliances, GE
Power Systems has expanded its portfolio of products, services, and
software solutions to serve global customers. Recent acquisitions of
rental equipment and industrial water treatment businesses demonstrate
this commitment to serve the energy industry as well as a broader
range of industries including telecommunications, entertainment, and
high-tech manufacturing.

Contact: Jeff Ignaszak, 770/859-7650 [e-mail]


    GE APPLIANCES INTRODUCES NEW COMMERCIAL LAUNDRY PRODUCTS;
    COMPANY SEES GREAT OPPORTUNITY IN GROWING COMMERICAL MARKET

      GE Appliances is making it clear that it plans to be a major
player in commercial laundry with the introduction of a new line of
high-performance washers and dryers. The company's array of commercial
laundry products is suited for any commercial application...from coin
stores, apartments and retirement homes, to college campuses and
health clubs. The new line includes units with Smart Card technology
as well as coin-operated and non-coin models.
      GE's expanded selection of commercial washers and dryers gives the
company an immediate high profile presence in a vibrant and growing
industry. For example, there are approximately 35-thousand coin
laundries in the U.S today and more are being built as the population
increases. According to the Coin Laundry Association (CLA), 5000
existing operators plan to build or purchase a laundry store in the
next year. Coin stores today are larger, cleaner and more attractive,
utilize state-of-the art technology and offer more services than ever
before. Even with increasing competition between stores, inquiries to
the CLA by potential storeowners are at an all time high. In all,
there are 2-3 million commercial washers, which are replaced at a rate
of about 10 percent a year.
      GE Appliances President and CEO James Campbell says this is an
exciting time for the company. "Frankly, we haven't been very visible
in the commercial laundry area the past few years, but that's
changing. Commercial laundry is a growing industry and gives us an
opportunity to make a significant impact. With the quality, innovation
and energy efficiency found in our line of new washers and dryers, we
expect to be a leading player for years to come. Also, with all the
concern about the cost and availability of energy, as well as the need
to constantly infuse new technology into existing appliance products,
now is the perfect time for GE to get back in the game."
      Earlier this summer, Campbell was one of a handful of CEOs who met
with President Bush to demonstrate energy efficient products. And in
its new line of commercial laundry offerings, GE's front-loading
commercial washer has earned the esteemed Energy Star label as a sign
of superior energy efficiency. The washer gets the dirtiest loads
clean with just 22-25 gallons of water (compared to 35-40 gallons of
water for an average top-loading washer).
      GE is also the only appliance manufacturer that offers two
different factory installed Smart Card systems. The systems are
supplied by ESD and BridgePoint, both recognized as leaders in Smart
Card technology and known for providing customers with outstanding
performance and flexibility. With a Smart Card, consumers utilize a
card with a pre-paid amount, eliminating the need to carry a pocketful
of change. Smart card technologies allow property owners to reduce
costs, track machine usage and cycle usage, easily set vend prices for
special promotions and market loyalty programs between stores at
different locations.
      General Electric (NYSE:GE) has been bringing good things to life
for more than a century, and sells products under the Monogram(R),
Profile(TM), GE(R), Hotpoint(R), and SmartWater(TM) brands. For more
information about GE appliances, consumers can call the GE Answer
Center(R) at 800/626-2000 or visit the company's Web site at
www.GEAppliances.com.

Contact: Kim Freeman, 502/452-7819, [e-mail]

    REASSURER SURVEY SAYS INTERNET SALES SET TO FLOURISH; GE FRANKONA
    RE STUDIES STAND-ALONE TERM ASSURANCE MARKET

      Leading reassurer GE Frankona Re's most recent survey of the
stand-alone term assurance market shows Internet sales beginning to
make some headway.
      With overall term assurance sales up by 8% in 2000, Internet sales
accounted for over 30,000 policies, or 3% of sales.
      "It comes as no surprise that Internet sales are beginning to make
an inroad into term distribution," said Peter Elliott, Head of Sales
at GE Frankona Re. "The product is simple to understand and is keenly
priced, both of which make it ideal for distribution over the
Internet."
      Elliott continued: "We expect e-sales to flourish as UK consumers
become more comfortable with purchasing life products over the
Internet. Experience in the motor market and in Internet sales in
general, where UK purchasers are leading the way in Europe, both point
to a promising future for this distribution channel."
      Level term polices remain the favored plan type, accounting for
51% of total sales. Meanwhile, the decreasing term market, which
accounted for 36% of total sales, continues to closely track the
mortgage market.
      The trend between the two markets is very similar, although there
are a number of factors that contribute to the difference between the
average sum assured and the average mortgage value. For example, many
existing borrowers will already have term assurance cover on their
previous loan and will only be topping up cover to the new mortgage
amount.
      The survey covered providers of stand-alone term assurance only.
Sales by providers of accelerated critical illness term policies were
covered under a separate survey on the critical illness market issued
by GE Frankona Re in April 2001. The earlier report showed sales of
accelerated critical illness term policies increased by nearly 53%
from 341,126 in 1999 to 521,713 in 2000. This policy type now
represents, by far, the largest proportion of total critical illness
new business, accounting for 66% of the market (42% in 1999).
      GE Frankona Re is part of Employers Reinsurance Corporation, a GE
company, which is the world's fourth-largest reinsurer and a premier
global provider of risk solutions. ERC serves clients in property and
casualty, life, healthcare, and professional liability insurance and
reinsurance, and other risk management services. ERC has earned the
highest ratings in the industry: More information on GE Frankona Re is
available at www.ge-frankona-re.com

Contact: Paul Casey 020 7337 9597 [e-mail]

      GE, with 2000 revenues of $130 billion, is a diversified
technology, services and manufacturing company with a commitment to
achieving customer success. GE operates in more than 100 countries and
employs 313,000 people worldwide. For more information, visit the
company's Web site at http://www.ge.com