GE to Open State-of-the-Art Business Services & Technology Solutions Center in Bucharest, Romania; GE's First Service Investment in Romania Will Support Customers Throughout Europe.

BUCHAREST, Romania -- Romanian Prime Minister Calin Popescu Tariceanu today announced that GE will locate its next Business Services & Technology Solutions Center in Bucharest. It becomes GE's second such center in Europe. The Romanian facility will handle a variety of complex finance & accounting, supply chain management, IT, engineering and customer service processes for GE and other blue chip clients across Europe.

In a written statement prior to the announcement, Prime Minister Tariceanu said: "We salute the Gecis' decision to open a state-of-the-art Business Services & Technology Solutions Center in Bucharest. Having the biggest private company in the world by market value consider it profitable to make a greenfield investment in Romania is positive recognition of the policies that the Government has established to encourage the business environment. The flat tax, the highly skilled labor force, the forthcoming EU membership, as well as the firm measures taken in order to fight any potential unhealthy practices make Romania an ideal destination for investment."

Nani Beccalli-Falco, president and CEO, GE International, commended the government for creating the country's current positive business climate. "GE is very happy to announce our first major service investment here in Romania," he said. "GE believes that our 21st century technology products and solutions, showcased at the GE Day we held yesterday in Bucharest, can help the region to develop and increase its competitiveness and support the process of upgrading Romania's infrastructure in preparation for EU membership and further economic growth."

GE Regional Executive for Southeastern Europe Dan Ionescu added, "We see Romania playing a important role in GE's European expansion. The country offers an educated workforce, a solid IT infrastructure, growing engineering capacity, and improving transparency, all of which is increasing our confidence to continue investing and growing in the country."

Gecis in August will move into 4,000 sq.m. of modern office space in north Bucharest's IRIDE Business Park, where there is capacity to expand to 8,000 sq.m. and up to 1,500 employees. Initial employment will be around 170.

"Our expansion into Romania is key to the value proposition we give our European customers, including unparalleled global delivery of services, the highest standards of process quality, and expertise in more than a dozen industry verticals," said Pramod Bhasin, president & CEO, GECIS Global. "I firmly believe that Romania will provide the intellectual talent we need to provide unparalleled process excellence to companies across Europe, making them more productive and enabling them to focus on their core competencies. We are tremendously excited to be here."

Bhasin said a growing roster of European companies, including market leaders in banking, pharmaceuticals, energy, and telecommunications, are signed or in negotiations to become clients of his company's global operations.

Background:

GE (NYSE:GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide, including 85,000 in Europe. For more information: www.ge.com.

Gecis is a global leader in high-end business services and technology solutions, built with Six Sigma rigor. The company is a joint venture between GE and two private equity firms: General Atlantic and Oak Hill Capital Partners. With 17,000 employees, including 570 multilingual staff at its European headquarters in Budapest, Gecis supports nearly 1,000 processes at GE and serves global enterprises in the banking/finance, insurance, business services, and manufacturing sectors. Specific services range from finance & accounting, to analytics and order-to-cash services, to customer service, document management, e-Learning and IT support. With by a direct sales network spanning Europe and North America, Gecis is headquartered near Delhi in Gurgaon, India, and has operations centers in China, Hungary, Romania, India and Mexico. For more information: www.gecisglobal.com.