GE Receives Nearly $2.5 Million from the U.S. Department of Homeland Security for Advanced Nuclear Detection Technology Research

GE Global Research, the centralized research organization of the General Electric Company (NYSE: GE), today announced it has received approximately $2.5 million in initial funding from the U.S. Department of Homeland Security’s (DHS) Domestic Nuclear Detection Office (DNDO) for two programs to perform exploratory research in advanced nuclear detection technology. The goal of the projects is to deliver transformational technology solutions to enhance nuclear threat detection in various applications.

Researchers at Global Research’s Niskayuna headquarters will leverage GE-invented digital X-Ray panels used for medical imaging, with a focus on reconfiguring and adapting them for large area X-Ray detectors. Researchers also will leverage capabilities from prior work in advanced materials to enable new applications in nuclear threat detection.

“GE is in a unique position to leverage decades of experience and research expertise in x-ray applications to develop next generation technology solutions for nuclear threat detection,” said Joe Krisciunas, Business Programs Manager, Security Technologies. ”It turns out that the same panels that enabled GE to bring X-Ray into the digital age have great potential for delivering the technology needed to improve the detection of nuclear materials for homeland security.”

This funding is part of approximately $8.8 million in funding recently awarded through the DNDO to support various programs engaged in nuclear detection technology research.

About GE Global Research

GE Global Research is one of the world's most diversified industrial research organizations, providing innovative technology for all of GE's businesses. Global Research has been the cornerstone of GE technology for more than 100 years, and is now focused on developing breakthrough innovations in areas such as molecular medicine, energy conversion, nanotechnology, advanced propulsion, and security technologies. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India; Shanghai, China; and Munich, Germany. Visit GE Global Research at www.ge.com/research

Konica Minolta and GE Form Strategic Alliance to Accelerate the Commercialization of OLED Lighting

Konica Minolta Holdings, Inc., Konica Minolta Technology Center, Inc. (collectively KM) and the General Electric Company (NYSE:GE) today announced that they have signed a strategic alliance agreement to accelerate the development and commercialization of OLED (Organic Light Emitting Diode) devices for lighting applications. The goal is to bring OLED lighting to market within the next 3 years.

Masatoshi Matsuzaki, President, Konica Minolta Technology Center, Inc., said, “Having such unprecedented attractive features as flexible, thin, light weight, and sheet form, OLED lighting is considered one of the most promising new business opportunities for us in the future. We are delighted to collaborate with GE to accelerate the development and launching of this revolutionary new lighting technology.”

Michael Idelchik, Vice President, Advanced Technology Programs, GE Global Research, said, “The alliance of KM, a world leader in imaging products, and GE, a global leader in lighting products, represents an extraordinary opportunity to make the commercialization of OLED lighting products a reality. Both companies have achieved significant advances in OLED technologies at the research and development stage. Now, we will pool our substantial resources and expertise to accelerate the development of this transformational technology.”

OLEDs are thin, organic materials sandwiched between two electrodes, which illuminate when an electrical charge is applied. They represent the next evolution in lighting products. Their widespread design capabilities will provide an entirely different way for people to light their homes or businesses. Moreover, OLEDs have the potential to deliver dramatically improved levels of efficiency and environmental performance, while achieving at least the same quality of illumination found in traditional products in the marketplace today.

On June 30, 2006, KM announced that it had successfully developed a white OLED with a world record power efficiency of 64 lumens per watt at 1,000 candela per square meter—a brightness which is appropriate for lighting applications. Prior to this development, KM developed its own highly efficient and long-life blue phosphorescent materials. Applying these material technologies, along with multi-layer design technology and innovative optical design technology, KM succeeded in developing an OLED having a practical light emission level of approximately 10,000 hours.

In addition to material technology and optical design technology, KM has been developing the ultra-high barrier film fabrication technology to enable high productivity. Superb coating technology nurtured through the development of photographic film and display materials also plays an important role in the development of highly productive OLEDs. Currently, research and development for its commercialization is under way.

GE, as part of its ecomagination initiative, has made substantial investments in OLED research that have resulted in world records for OLED lighting device size and efficiency. In 2004, GE researchers were able to demonstrate an OLED device that was fully functional as a 24 inch by 24-inch panel, which produced 1,200 lumens of light with an efficiency on par with today’s incandescent bulb technology. This was the first demonstration that OLED technology could potentially be used for lighting applications. Since then, GE has more than doubled the level of OLED efficiency using device architectures that are scalable to a large area and can be produced cost-effectively.

In addition to increasing efficiency, GE has focused on developing all the requirements—ranging from plastic film substrates, ultra-high barrier coatings, and fabrication processes and equipment to enable the high speed, cost-effective “roll-to-roll” manufacturing—required to produce large-area OLED lighting.

GE Consumer & Industrial Vice President Michael Petras said, “In a world demanding higher standards for energy efficiency and environmental performance, OLED lighting has the potential to become a major lighting source on both fronts. And because OLED lighting is soft and diffused, it will create some exciting application opportunities for designers and specifiers. The applications are numerous, ranging from ceiling lighting for office and residential applications to interior automotive and aircraft lighting to many specialty lighting applications such as task lighting, sign and various forms of interior retail lighting.”

In the coming months, KM and GE will further accelerate research and development of OLED lighting by sharing technologies and knowledge. KM’s technology center will lead the research and development activities for KM. GE Global Research, GE’s centralized research and development organization, and GE’s Consumer and Industrial business division will lead research and development for GE.

About Konica Minolta

Konica Minolta Group offers diverse products and services for new digital imaging environments in a wide range of fields. Our business domain is broad, including office equipment, optical devices, medical imaging, graphic imaging and measuring instruments. Its largest office equipment business sector consecutively offers advanced network document solutions, taking advantage of its strengths in high-speed, color and networking technologies.

At Konica Minolta Technology Center, Inc., we are actively developing unique and cutting-edge technologies that will expand the world of imaging, on the basis of proprietary materials, optical, nano-fabrication and imaging technologies. Phosphorescent materials and OLED devices are examples of the notable development activities underway with potential for use in various applications. Konica Minolta’s core technologies are being applied in the development of many other next generation display components and ubiquitous imaging equipment. Visit Konica Minolta at http://konicaminolta.com

About GE Global Research

GE Global Research was the first industrial research lab in the United States and is one of the world's most diversified research centers, providing innovative technology for all of GE's businesses. Global Research has been the cornerstone of GE technology for more than 100 years, developing breakthrough innovations in areas such as medical imaging, energy generation, jet engines, advanced materials and lighting. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India; Shanghai, China; and Munich, Germany. Visit GE Global Research at www.ge.com/research

About GE Consumer & Industrial

GE Consumer & Industrial spans the globe as an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. Providing solutions for commercial, industrial and residential use in more than 100 countries, GE Consumer & Industrial uses innovative technologies and "ecomagination," a GE initiative to aggressively bring to market new technologies that help customers and consumers meet pressing environmental challenges, to deliver comfort, convenience and electrical protection and control. General Electric (NYSE: GE) brings imagination to work, selling products under the Monogram®, Profile™ GE®, Hotpoint®, SmartWater™, Reveal®, GE Edison™ and Energy Smart™ consumer brands, and Entellisys™ industrial brand. For more information, consumers may visit www.ge.com

NOTE: For a demonstration of OLED lighting, please visit GE’s technology blog, From Edison’s Desk, at www.grcblog.com

GE Unveils New Advanced Technology Center and Global Services Facility

GE Energy’s (NYSE: GE) nuclear business today opened a new advanced technology center and a global field services facility as the company continues to expand its Wilmington, N.C. site to prepare for new reactor orders and broaden its services capabilities for utility customers.

The advanced technology center will employ hundreds of engineers, project managers and support personnel dedicated to advanced design work and implementation support for the commercial launch of GE’s next-generation technology, the ESBWR. The technology center also will support GE’s ABWR projects around the world.

Andy White, president and CEO of GE Energy’s nuclear business, and U.S. Rep. Mike McIntyre (D – N.C., 7th District), whose district includes Wilmington, participated in the grand opening event.

As utilities prepare to invest in new commercial reactors, White said it is important that GE demonstrate its ability to complete projects on time and on budget for its global customer base.

“Our new advanced technology center will further enhance our ability to coordinate multiple reactor projects, both in the United States and around the world,”

White said. “It’s a key part of our strategy to have the most extensive and advanced engineering, design and production capabilities to meet customer requirements.”

With reactor projects creating thousands of construction and permanent engineering jobs, GE’s advanced technology center also will play an important role in supporting state and local economic development growth for decades to come.

“With the ongoing resurgence in nuclear energy, it is crucial we support the efforts of GE to be in the best position possible to prepare for new reactor orders, which will yield significant economic benefits for our communities,” Rep. McIntyre said.

Utilizing natural circulation and passive safety systems, the ESBWR is more efficient to operate, features a smaller building footprint and is less expensive to build, with a projected 36-month construction schedule from the pouring of concrete to first-fuel load.

GE’s Field Services Operation Essential to Customers’ Success

In addition to the advanced technology center, GE unveiled a new global services center dedicated to supporting GE’s services business and its customers around the world.

“By providing the best possible service to existing nuclear power plants, GE’s commitment to excellence is reinforced with our customers, many of which are now preparing to invest in new reactor projects,” White said.

By optimizing service capabilities during outages, GE will continue to help customers reduce the amount of time that a reactor needs to be offline for maintenance while extending the operating period of the reactor between outages, thus potentially saving the operator millions of dollars.

For example, two GE-designed boiling water reactor (BWR) units at Exelon Nuclear’s LaSalle County Generating Station in Illinois recently set new world records for the longest continuous operation of light water reactors. The LaSalle plant produces enough electricity for 2.3 million homes.

GE Invests in Preparation for New Reactor Orders

Since 2003, GE has hired 500 new engineers and other personnel in preparation for new unit orders. GE also has executed a strategic consolidation in Wilmington of several existing GE nuclear facilities located around the United States.

GE’s ESBWR and ABWR technology has already been selected for five potential projects for new commercial reactors in the United States. The ESBWR is being considered for deployment by several U.S. utilities and in a number of other countries. Meanwhile, the U.S. Nuclear Regulatory Commission is currently performing its design certification review of the ESBWR. GE recently submitted its third revision of the Design Certification Document on schedule to the NRC for review.

The ABWR is the world’s first commercially proven, Generation III reactor design and has been licensed for construction in the United States, Japan and Taiwan.

GE’s nuclear business has been a leading provider of light water reactor technology and services for more than 50 years, helping 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 2006 revenue of $19 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.

GE: GEnx Orders Top $10 Billion, Making it Fastest-Selling Big Engine in GE Aviation History

First Choice Airways has purchased an additional four Boeing 787 Dreamliners, powered by the fast-selling GEnx engine—taking total GEnx orders to 830 for 28 customers, with a list price value of more than $10 billion.

This most recent First Choice engine order is valued at more than $125 million. This is First Choice’s third order for GEnx-powered Boeing 787s, bringing its total order to 12 aircraft. First Choice Airways, a subsidiary of First Choice Holidays PLC, was the first GEnx customer. Aircraft deliveries to First Choice begin in 2009.

The GEnx is part of GE's "ecomagination" product portfolio—GE’s commitment to develop new, cost-effective technologies that enhance customers' environmental and operating performance. The GEnx’s composite and combustion technologies are unique to the commercial aviation industry.

“Having taken the decision to increase our commitment to long-haul destinations, we wanted to ensure we could do this in the most cost-effective and environmentally sound way, while offering our customers new destinations and even more comfortable travel," said Dermot Blastland, managing director of First Choice Mainstream Holidays, on selecting the GE-powered 787s.

““This decision demonstrates the confidence First Choice has in the engine-aircraft combination,” said Tom Brisken, general manager of the GEnx program. “First Choice was our first GEnx customer, and the airline has continued to build upon its original 787 fleet.”

Since February, the GEnx has been flight-testing on GE's 747 flying testbed. GEnx development engines have accumulated more than 1,000 hours of testing in ground tests since March 2006. Engine certification is scheduled for later this year.

Based on the highly successful GE90 architecture, the GEnx engine is one of the quietest, most fuel-efficient jet engines ever. It will succeed GE's CF6 family, the best-selling engine on wide-body aircraft. The GEnx will provide significantly better specific fuel consumption and payload performance than CF6 engines.

The GEnx engine, which will power both the 787 and the 747-8, is the world's only jet engine with both a front fan case and fan blades made of composites, which provide for greater engine durability, weight reduction and lower operating costs. The fan blades will utilize GE90 composite technology that has performed extremely well, with no routine on-wing maintenance required and no in-service issues for more than a decade.

GE Aviation, an operating unit of General Electric Company (NYSE: GE), is one of the world's leading manufacturers of jet engines for civil and military aircraft. GE Aviation’s engine backlog by the end of 2006 reached $14.2 billion, compared to $9.4 billion by the end of 2005. GE also is a world-leading provider of maintenance and support services for jet engines. Visit us at www.ge.com/aviation.

GE and The Blackstone Group Join to Acquire PHH Corporation for $1.8 billion

GE Capital Solutions, the business-to-business leasing, financing and asset management unit of General Electric Co. (NYSE:GE) and The Blackstone Group, through its affiliates, today agreed to acquire PHH Corporation (NYSE:PHH) in an all-cash transaction for $31.50 per share or approximately $1.8 billion.

Headquartered in Mount Laurel, NJ, PHH Corporation comprises PHH Arval, a North American fleet management services provider, and PHH Mortgage, a retail originator and servicer of residential mortgages in the United States. PHH Corporation will be purchased by GE, which will retain PHH Arval and sell PHH Mortgage to Blackstone immediately after closing.

Based in Sparks, MD, and with approximately $5 billion in assets, PHH Arval provides outsourced vehicle fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies. Through consultative expertise, flexible customer service, and award-winning Internet technology, PHH Arval helps clients reduce costs and increase productivity in managing their fleets. PHH Arval has been serving the fleet industry for more than sixty years.

"We believe the integrated financing and services we offer can help customers optimize fleet performance by helping them acquire, manage and sell company vehicles," said Richard Laxer, president and CEO, GE Capital Solutions. “Combining with PHH will enable us to provide our customers with a greater level of service to meet their growing needs and challenges.”

“The fleet management industry is changing rapidly, and issues such as the environment, safety, telematics, global reach and continued cost effectiveness are increasingly important,” said George J. Kilroy, president and CEO of PHH Arval. “PHH Arval and GE together can bring the focus needed for these opportunities to expand the impact of fleet management and create measurable value for our customers.”

“Our businesses share a common commitment to customer service, innovation and using technology to maximize the value of our customers’ fleets. The combination of our businesses will allow us to better serve our customers in achieving their sales, service and delivery performance goals,” added Bob Mitchell, president and CEO of GE Capital Solutions, Fleet Services.

The acquisition is subject to PHH shareholder and regulatory approvals and other closing conditions. It is expected to close in the third quarter of 2007.

Lehman Brothers advised GE and Blackstone on this transaction. JP Morgan also served as an advisor to Blackstone. Legal representation was provided by Weil, Gotshal, & Manges LLP and Simpson Thacher & Bartlett LLP to GE and Blackstone, respectively.

About PHH Corporation

Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary, PHH Mortgage, is one of the top ten retail originators of residential mortgages in the United States and its subsidiary, PHH Arval, is a leading fleet management services provider in the United States and Canada. For additional information about the company and its subsidiaries, visit www.phh.com

About The Blackstone Group

The Blackstone Group, a global private investment and advisory firm, was founded in 1985. Blackstone’s Private Equity arm has a long track record investing in the financial services sector and is currently investing an $18 billion private equity fund. In addition to Private Equity, Blackstone’s other core businesses include, Private Real Estate Investing, Corporate Debt Investing, Hedge Funds, Mutual Fund Management, Private Placement, Marketable Alternative Asset Management and Investment Banking Advisory Services. Further information is available at www.blackstone.com

About GE Capital Solutions

GE Capital Solutions, Fleet Services (www.gefleet.com) based in Eden Prairie, Minnesota, is a global fleet management company. It is part of GE Capital Solutions and has operations in the United States, Canada, Europe, Japan, Australia and New Zealand.

GE Capital Solutions (www.ge.com/capitalsolutions) provides leasing, lending and capital investment products and services to help business customers grow. It has over $100 billion in assets, serves more than a million clients around the world and is headquartered in Danbury, Connecticut.

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 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 more than 300,000 people worldwide. For more information, visit www.ge.com

GE Global Research, TOKKI Corp. Announce Joint Project to Develop PECVD Film Encapsulation Technology & Equipment for OLED Displays

GE Global Research, the centralized research organization for the General Electric Company (NYSE: GE) and TOKKI Corporation, a leading supplier of OLED manufacturing equipment, announced a joint agreement to develop PECVD Film Encapsulation technology and equipment for manufacturing organic electronics such as organic light emitting diode (OLED) flat panel displays. The goal is to develop and demonstrate equipment that could serve as the foundation for the future manufacturing and sale of glass-based displays that are thinner in design and much lower in cost.

As part of the agreement, GE Global Research will license its patented PECVD film encapsulation process to TOKKI for use in the company’s state-of-art OLED manufacturing equipment. OLED devices require a high degree of hermetic sealing or "encapsulation," since moisture and oxygen can impede the devices’ functionality. The encapsulation technology is seen as a critical component for enabling future OLED devices and process technology that are much thinner in design, while still protected from environmental degradation.

“Through our joint partnership, we have a great opportunity to develop new, state-of-the art manufacturing equipment that can produce thinner, more affordable OLED displays on glass substrates,” said Anil Duggal, Advanced Technology Program Leader for Organic Electronics, GE Global Research. “A key to this effort will be successfully incorporating the unique encapsulation technology developed at Global Research into the manufacturing process.”

“We are excited by the opportunity to work with GE through this JDA and believe that this collaboration will have a big impact not only to Tokki’s business but also on the OLED industry as a whole,” said Kenichi Tsugami, President of Tokki Corporation. “Our success on this project could greatly expand market opportunities for OLED flat panel displays and create new markets in organic electronics.”

A primary focus of the project will be to successfully develop and demonstrate pilot line manufacturing equipment that successfully incorporates Global Research’s film encapsulation technology. The ultimate goal is to build manufacturing equipment for OLED displays that can be sold commercially.

About GE Global Research

GE Global Research was the first industrial research lab in the United States and is one of the world's most diversified research centers, providing innovative technology for all of GE's businesses. Global Research has been the cornerstone of GE technology for more than 100 years, developing breakthrough innovations in areas such as medical imaging, energy generation, jet engines, advanced materials and lighting. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India; Shanghai, China; and Munich, Germany. Visit GE Global Research at www.ge.com/research

About Tokki Corporation

TOKKI Corporation, headquartered in Tokyo, Japan, is a leading distributor of machinery and other value-added specialty machines. The company manufactures and sells factory automation systems, notably flexible manufacturing systems and robot cells. It develops, manufactures and sells vacuum technology-related equipment such as organic electroluminescent (EL) manufacturing equipment, sputtering, heat deposition, and plasma chemical vapor deposition products. TOKKI also sells numerical control manufacturing machinery, including numerical control lathes and machining centers. Visit TOKKI Corporation at http://www.tokki.co.jp/eng/index.html

GE Fanuc Embedded Systems Announces EP2A Single Board Computer For Rugged Military Applications

Demonstrating once again the company’s market-leading responsiveness to customer requirements, GE Fanuc Embedded Systems today announced the EP2A 6U VME single board computer, the latest in the EmPower family. Featuring a Freescale PowerPC MPC7448 processor and 1 Gigabyte of DDR SDRAM, the EP2A also includes the latest Marvell Discovery V integrated system controller for leading-edge performance. The EP2A is not only a highly cost-effective solution, but also offers a unique I/O set with its four fast HDLC-capable serial ports (enabled by a PowerQUICC 2 device) complementing its Gigabit Ethernet, USB and GPIO capabilities. Outstanding flexibility is achieved by the provision of two PMC sites as well as GE Fanuc’s unique AFIX (Additional Flexible Interface Xtension) card site that allows custom functionality to be added to the board at minimum cost and in minimum time.

“In today’s military embedded computing applications, a significant area of interest for customers is I/O capability,” said Richard Kirk, Product Manager at GE Fanuc Embedded Systems. “The EP2A further extends the range of single board computer I/O options available from GE Fanuc Embedded Systems, complementing the capabilities of the PowerXtreme and XtraPower families in a way that enables customers to choose a single source solution without compromising feature set requirements. The EP2A is also further evidence of our commitment to providing ongoing technology insertion opportunities, giving existing EP1A customers a straightforward path to higher levels of performance.”

Designed specifically for the rugged defense and aerospace market and applications such as mission computing and embedded communications, the EP2A offers unprecedented flexibility. Its two PMC sites and single AFIX site can be employed simultaneously without sharing I/O pins with the on-board I/O features. AFIX cards are available that support dual MIL-STD-1553B interfaces, SCSI, graphics and Flash memory modules, and customer specific versions. The fast HDLC-capable serial channels and Gigabit Ethernet ports make the EP2A highly suited to communications-oriented embedded computing applications.

Available in five air- and conduction-cooled environmental levels, the EP2A is fully supported by comprehensive Deployed Test Software (BIT and BCS) and BSPs for VxWorks from Wind River Systems, LynxOS from LynuxWorks and Integrity from Green Hills Software. First shipments are expected in 2Q07.

About GE Fanuc Embedded Systems

GE Fanuc Embedded Systems is a leading global provider of embedded computing solutions for a wide range of industries and applications. Featuring a comprehensive offering that includes Intel® and PowerPC®-based Single Board Computers, sensor processing networking products, avionics interfaces, rugged flat panel monitors and complete computer systems, GE Fanuc Embedded Systems can support the full range of embedded computing needs. GE Fanuc Embedded Systems is part of GE Fanuc, a joint venture between GE and FANUC LTD of Japan. For more information, visit www.gefanucembedded.com

GE Capital Solutions Acquires Trustreet Properties

GE Capital Solutions, the business-to-business leasing, financing and asset management unit of General Electric (NYSE: GE), today finalized its acquisition of Trustreet Properties for $17.05 per share of common stock, or approximately $3 billion. Trustreet Properties is now part of Scottsdale, Ariz., -based GE Capital Solutions, Franchise Finance. This significantly expands financial services offerings in the restaurant industry for GE.

“We’ve strengthened our product portfolio and our reach so we can serve more kinds of customers in more places,” says Darren Kowalske, president and CEO, GE Capital Solutions, Franchise Finance.

The acquisition enables GE Capital Solutions, Franchise Finance to significantly increase market share and to create a more dynamic business. The mortgage products and sale-leaseback capabilities of GE Capital Solutions, Franchise Finance give restaurant owners/operators a more extensive suite of products and services to choose from when tailoring their financial needs.

“We have assumed Trustreet operations and are conducting all sale-leaseback financing and related asset management with the same high level of service and reliance our respective customers have come to expect,” says Kowalske. “Additionally, the restaurant 1031 trading platform (www.Trustreet1031.com) is now part of GE Capital Solutions, Franchise Finance, providing valuable information to customers and to the industry.”

GE Capital Solutions, Franchise Finance, is maintaining the former Trustreet office in Orlando, as well as its current offices in Scottsdale and Bellevue, and now is a leading provider of triple-net lease financing to operators of national and regional restaurant chains.

About GE Capital Solutions, Franchise Finance

GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $11 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).

GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has over $100 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions

GE Enterprise Access Wireless Solution Gains Momentum with Hospitals

GE Healthcare and MobileAccess announced today that more than 10 hospitals in the last quarter have selected GE Enterprise Access as their universal wireless platform for hospitals. The Consumer Health World Conference recently named GE Enterprise Access as the “Best Mobile Technology for Improving Patient Care.” GE and MobileAccess launched this wireless solution in December 2005. Northwestern Memorial Hospital in Chicago and Intermountain Medical Center in Salt Lake City are among the latest hospitals to leverage the universal GE Enterprise Access wireless platform to support the mobile caregiver and enhance the patient experience.

GE Enterprise Access combines the strengths of MobileAccess technology and GE’s broad portfolio of wireless clinical products. The solution was designed to meet the rigorous demands of the dynamic healthcare environment and support multiple wireless services over a common infrastructure. With its built-in wireless interference mitigation capabilities and modular architecture, GE Enterprise Access seamlessly adapts to new wireless service requirements, providing reliable wireless coverage throughout hospitals without disrupting operations or interrupting existing services.

Wireless applications and services including Wireless Medical Telemetry Service (WMTS), patient monitoring, 802.11 a/b/g with encryption, Voice-over-WLAN, two-way radio, cellular/PCS, Wi-Fi, paging, public safety radio, and fire/safety communications are becoming increasingly vital to doctors, nurses, patients, hospital operations staff and first responders. GE Enterprise Access, in one product, helps to resolve the challenge of hospitals using multiple ad hoc systems and separate parallel networks. Additionally, GE Enterprise Access minimizes the disruption to sensitive hospital environments, a disruption that multiple ad hoc systems can potentially create.

“GE Enterprise Access supports hospitals’ growing focus on the mobile caregiver and enhancing the patient experience,” said David Ataide, general manager of GE Healthcare’s Monitoring Solutions business. “The innovative universal wireless platform creates an environment where information is shared and accessible in real time throughout hospitals. The solution also supports a myriad of wireless technologies and ensures they work together seamlessly with a focus on workflow, caregiver interaction and patient satisfaction.”

To this end, in July 2006, GE and MobileAccess announced the availability of a jointly developed WMTS solution that enables hospitals to operate GE’s ApexPro® CH wireless telemetry patient monitoring directly over GE Enterprise Access.

Some of the hospitals currently using GE Enterprise Access include:

Northwestern Memorial Hospital in Chicago, Illinois: Northwestern Memorial Hospital selected GE Enterprise Access to support the hospital’s ambitious program to utilize technology to continually improve patient care. The solution appealed to Northwestern Memorial because it ensures that doctors, nurses, staff and patients have wireless access to a full range of interpersonal, clinical, and building services throughout the hospital’s expansive 3 million square foot campus. The hospital also selected GE Enterprise Access because it enables the IT staff to offer all the services on a common infrastructure, and the ability to readily add new services and extend coverage throughout its expansive campus.

Already, Northwestern Memorial has completed two of the three planned deployment phases. GE Enterprise Access is deployed in 1.5 million square feet of the Feinberg and Galter Pavilions and delivers pervasive wireless coverage for GE’s ApexPro® CH wireless telemetry and patient monitoring, Wi-Fi-enabled mobile PC carts, wireless VoIP phones and physician/caregiver pager alerts. The solution also supports wireless Internet access for patients and visitors, as well as in-building cellular/PCS and 3G services from all of the major mobile carriers in the metropolitan Chicago area.

Northwestern Memorial continues to build on their GE Enterprise Access deployment with current pilot projects for mobile nurse/caregiver call systems, medical monitoring alerts, and location-based services. The final phase of the deployment will deliver seamless wireless coverage to an additional 500,000 square feet of the Feinberg and Galter Pavilions and the 1 million square foot Prentice Women’s Hospital, scheduled to open in the Fall of 2007.

Intermountain Medical Center in Salt Lake City, Utah: Intermountain Healthcare incorporated GE Enterprise Access into the design plans for its new 1.5 million square foot campus and they plan on making the solution standard for all new buildings in its healthcare system. The solution is currently available in the central lab and the Jon and Karen Huntsman Cancer Center and it will be available throughout nearly all of the remaining buildings, including the Carolyn Barnes Gardner Women’s and Newborn Center, the J.L. Sorenson Heart and Lung Center, and the Roy W. and Elizabeth E. Simmons Trauma & Emergency Center/J.L. Sorenson Patient Tower when they open in October 2007.

Intermountain Healthcare selected GE Enterprise Access for its multi-service capabilities, universal architecture and proven track record in hospitals. The hospital’s IT staff wanted to give caregivers and patients pervasive wireless coverage for services, including Vocera’s 2-way instant communications system, VoIP, Wi-Fi and cellular services from Cingular, Sprint/Nextel, T-Mobile and Verizon. The hospital also saw the value of having a single infrastructure capable of supporting additional services, without re-wiring, impacting workspaces or existing services. Lastly, hospital planners agreed that housing intelligent network components and access points (APs) securely in telecommunications closets would improve manageability.

“In today’s hospital, migrating to a wireless infrastructure is more than a ‘nice to have,’ it is becoming the intrinsic ‘need to have’ for both staff and patients,” said David Baird, Intermountain Healthcare’s Urban Central Region Director of Information Systems. “GE Enterprise Access is the smart choice for hospitals looking to enhance the communication fundamental to decision making and patient care. With GE Enterprise Access, we have a wireless infrastructure that readily adapts to our shifting technology requirements, enabling us to adopt cutting-edge wireless services, applications and devices as we need them to improve communication and coordination of care. By delivering real-time access to information across our campus, GE Enterprise Access helps us improve caregiver productivity while reducing travel, testing and waiting times for patients, and operational costs for our organization.”

“MobileAccess and GE are helping hospitals across the country roll out ambitious programs to help improve patient care so that doctors, nurses and staff have better, more secure access to critical patient information,” said Cathy Zatloukal, president and CEO, MobileAccess. “Northwestern Memorial Hospital and Intermountain Medical Center join a growing number of prestigious hospitals that understand the benefits of a single, low-maintenance infrastructure to support all of their wireless needs. With GE Enterprise Access, these hospitals are able to create immediate operational efficiencies while positioning for growth, so they can eventually take advantage of emerging innovations in wireless medicine.”

About GE Healthcare

GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest.

GE Healthcare’s broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. Our vision for the future is to enable a new “early health” model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com

About MobileAccess Networks

MobileAccess Networks is an enterprise wireless innovator that provides a universal platform for connecting the people and applications that drive business. The MobileAccess Universal Wireless Network is the key to widespread wireless connectivity in hospitals, office buildings, public venues and other large-scale facilities. The company's intelligent, in-building infrastructure delivers business-quality performance, scalability, security and signal reliability to more than 1000 customers, including Fortune 1000 companies such as Lehman Brothers and Hearst Corporation, leading healthcare facilities such as Northwestern Memorial and Clarian Health, as well as many public sector customers such as Aladdin Resort and Casino, ALLTEL Stadium, American University, and the Oakland International Airport. For more information, visit www.mobileaccess.com

GE Announces Advancement in Incandescent Technology; New High-Efficiency Lamps Targeted for Market by 2010

GE Consumer & Industrial’s Lighting division, a world leader in the development of energy-efficient lighting products, today announced advancements to the light bulb invented by GE’s founder Thomas Edison that potentially will elevate the energy efficiency of this 125-year-old technology to levels comparable to compact fluorescent lamps (CFL), delivering significant environmental benefits. Over the next several years, these advancements will lead to the introduction of high-efficiency incandescent lamps that provide the same high light quality, brightness and color as current incandescent lamps while saving energy and decreasing greenhouse gas emissions.

The new high efficiency incandescent (HEI™) lamp, which incorporates innovative new materials being developed in partnership by GE’s Lighting division, headquartered in Cleveland, Ohio, and GE’s Global Research Center, headquartered in Niskayuna, NY, would replace traditional 40- to 100-Watt household incandescent light bulbs, the most popular lamp type used by consumers today. The new technology could be expanded to all other incandescent types as well. The target for these bulbs at initial production is to be nearly twice as efficient, at 30 lumens-per-Watt, as current incandescent bulbs. Ultimately the high efficiency lamp (HEI) technology is expected to be about four times as efficient as current incandescent bulbs and comparable to CFL bulbs. Adoption of new technology could lead to greenhouse gas emission reductions of up to 40 million tons of CO2 in the U.S. and up to 50 million tons in the EU if the entire installed base of traditional incandescent bulbs was replaced with HEI lamps.

Kevin Nolan, Vice President of Technology for GE Consumer & Industrial, said: “In addition to offering significant energy savings comparable to CFLs, the 21st century version of Edison’s bulb provides all the desirable benefits including light quality and instant-on convenience as incandescent lamps currently provide at a price that will be less than CFLs. We and other lighting manufacturers have been aggressive in developing and marketing CFLs. But consumers want more options and we plan to respond to their needs and deliver environmental benefits, too. It’s important that we offer consumers a full range of products that meet their personal desire to reduce their negative impact on the environment while preserving their ability to pick the best lighting product for their needs. That’s why we are moving aggressively to commercialize these new lamps.”

GE’s announcement was made in conjunction with its decision to support legislation in the EU, the United States and in other areas that would accelerate the introduction of all types of high efficiency lighting products as part of the global effort to promote energy security and reduce emission of greenhouse gases. GE’s HEI ™ would support attainment of the objectives of the European Commission’s Energy Efficiency Action Plan, which aims to reduce Europe’s energy consumption 20% by the year 2020.

GE has invested more than $200 million in the last four years on the development of energy efficient lighting, including reduced-powered Miser® light bulbs to high-efficiency Par 38 halogen lamps and Energy Smart® compact fluorescent lamps. The US Department of Energy (DOE) and the US Environmental Protection Agency (EPA) have recognized its contributions to energy efficiency and GHG reductions every year since 2004 with the ENERGY STAR Award, and in 2006 with the ENERGY STAR Award for Sustained Excellence. GE offers 67 ENERGY STAR-qualified lighting products. The environmental benefits of these products sold in 2006 alone will, over their lifetime, reduce consumers’ electricity costs by $1.3 billion and prevent 500 million tons of GHG emissions.

GE Consumer & Industrial spans the globe as an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. Providing solutions for commercial, industrial and residential use in more than 100 countries, GE Consumer & Industrial uses innovative technologies and "ecomagination," a GE initiative to aggressively bring to market new technologies that help customers and consumers meet pressing environmental challenges, to deliver comfort, convenience and electrical protection and control. General Electric (NYSE: GE) brings imagination to work, selling products under the Monogram®, Profile™ GE®, Hotpoint®, SmartWater™ Reveal®, Edison™ and Energy Smart™ consumer brands, and Entellisys™ industrial brand. For more information, consumers may visit www.ge.com

GE Brings ecomagination to India

General Electric Company (GE) today announced the launch of the company’s innovative ecomagination initiative in India -- designed to bring to market new technologies that will help customers address their most pressing environmental challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water.

The ecomagination initiative was launched in New Delhi by John Rice, GE Vice Chairman and President & CEO,GE Infrastructure and Lorraine Bolsinger, Vice President, Ecomagination in the presence of Mr. Kapil Sibal, Honourable Minister for Science and Technology, Government of India.

On the occasion, the company signed an MoU with Air India that will help the airline achieve its goal of becoming an environmentally sustainable airline, with sound environmental programs and practices. This first-of-its-kind partnership with Air-India will see GE delivering aircraft engines from its ecomagination portfolio including GE90-115B engines for the Boeing 777-300ERs and the GEnx engines for the Boeing 787-800 aircraft ordered by Air India. The value of these orders from Air India is over $2.2 billion. Beyond aircraft engines, to help Air India position itself as an environment friendly airline, GE will partner in other areas such as – green building, in flight content creation, co-branding etc.

GE also announced the signing of an MoU for a Green Building Project with Haryana Technology Park. The Haryana Technology Park is a Government of India approved integrated IT Park supported by Paharpur Business Centre & Software Technology Incubator Park, New Delhi. Under the MoU, GE India and Haryana Technology Park will collaborate in a number of initiatives to create a truly green building project of world standards specifically in the areas of utility services like power generation & distribution, lighting, water treatment, security, sensing equipment and other environmentally friendly solutions.

Kapil Sibal, Honourable Minister for Science and Technology, Government of India said, “We have been harnessing mother nature for far too long. The more we consume nature’s vital and valuable resources for temporary gain, the harder it gets for us to combat the consequences of the resultant phenomenon. Ecomagination is an initiative whose time has come, an initiative that will enable the business community to move away from the trodden path onto a new road of discovery and invention through the use of environment-friendly technologies. I commend GE for taking this initiative and hope others will follow.”

“With nearly US$ 2 billion in revenues in India today and a target of US$ 8 billion by 2010, GE’s commitment to India is deeper and stronger than ever before. Advanced energy, infrastructure and environmental technologies bridge our company and India to a horizon of immense potential growth,” said Mr Rice.

GE said that it was targeting over US$ 1 billion per year in revenues from ecomagination products in India by 2010. GE also announced that it will invest up to US$150 million in “eco-related” research & development funds at its Technology Center in Bangalore over the next five years.

Mr Rice said, “India is home to some of our finest research capabilities, our most creative and dedicated employees, and the customers who will benefit from the strength and promise of both. We look forward to the next phase of our work in India, fueled by the power of ecomagination, the commitment of our customers and partners, and the strength of our employees.”

Lorraine Bolsinger, Vice President, Ecomagination said, “As India continues on its path to economic prosperity, its growth puts further burden on the country’s environment and natural resources. That is why there is a critical and pressing need for innovative, sustainable and eco-friendly solutions. Ecomagination is GE’s commitment to address and develop solutions for the environmental challenges that our customers face today. Through ecomagination, we will establish partnerships with our customers like Air India and the Haryana Technology Park to tackle their most pressing environmental challenges.”

Mr Scott Bayman, President & CEO, GE in India said, “I have been in India for over a decade and have witnessed its growth first hand. It therefore gives me immense pleasure to see how advanced, eco-friendly technologies are becoming a priority in India. The time is right and we are seeing a growing commitment on the part of companies in India to embrace the latest in clean and green technologies including the most advanced eco-friendly aviation and locomotive engines, energy turbines, and water treatment solutions.”

GE showcased a number of ecomagination products including eco-friendly aviation and locomotive engines, cleaner coal technologies, efficient gas turbines, sustainable and renewable energy solutions for rural areas, water treatment solutions and technologies to meet some of the most pressing needs in the automotive and industrial sectors.

The ecomagination products already introduced by GE in India include products from aviation, energy, plastics and water. Some highlights include:

Rural Electrification -- Through the GE Rural Electrification Program, GE Energy is providing Malavalli Power Plant Private Limited (MPPL) with 30 Jenbacher JMS320 engines, which will be used to generate combined heat and power to meet electrical, refrigeration and heating needs within rural communities. GE’s Jenbacher engines operate on a variety of alternative or specialty fuels including biogas, crop residue, municipal solid waste, landfill, coal mine methane and industrial waste gases.
Water Purification -- GE developed a solar-powered fresh water purification system to assist the long-term recovery and relocation efforts of tsunami-affected remote villages in southern India. Developed jointly by GE Energy and GE Water & Process Technologies, this new system combines solar technology with salt and particulate-reducing water purification systems.
Wood Replacement at Railways -- Existing bench seats in the Mumbai Metro use wood-based composites. The Indian Railways would like to opt for recyclable materials, which offer improved aesthetics and also maintain the high standards of safety required in rail coach interiors. Railways have chosen Lexan 953R, pre-coloured Blue, because of its recyclability, aesthetics, high strength and conformance to the flame retardant, low smoke emission standards
More information about ecomagination can be found though GE’s ecomagination report which is available at www.ge.com/ecoreport

GE Healthcare Grants License for Biomagnetic Isolation of Nucleic Acids to Applied Biosystems

GE Healthcare announced today that it has completed a license agreement with Applied Biosystems, granting Applied Biosystems access to GE Healthcare patents for the biomagnetic isolation of nucleic acids. The license, which is valid for the lifetime of the patents, grants Applied Biosystems certain rights with respect to the isolation and purification of nucleic acids using GE Healthcare’s proprietary magnetic separation technology.

GE Healthcare’s patented methods for magnetic separation offer significant advantages over conventional techniques for the isolation and purification of biomolecules such as DNA and RNA from laboratory and clinical samples. Benefits include greater yields of product and elimination of clogging associated with filter-based methods

“This license recognizes the considerable value that our biomagnetic isolation technology brings to genomics researchers” said Eric Roman, General Manager, Genomic Sciences, GE Healthcare. “We are pleased to grant Applied Biosystems access to our patents in this area, which will allow them to use our proprietary magnetic separation protocols in conjunction with their MagMaxTM range of products for nucleic acid isolation”

GE Healthcare has an active program to grant licenses for access to its patents for biomagnetic isolation. Financial terms were not disclosed.

About GE Healthcare

GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest.

GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. Our vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com

GE: Jeff Zucker Named President and CEO of NBC Universal Succeeding Bob Wright, Who Will Remain Vice Chairman of GE

General Electric Company Chairman and CEO Jeffrey R. Immelt today announced the appointment of Jeff Zucker as President and CEO of NBC Universal, succeeding Bob Wright, who has served with distinction in this role for 21 years and will continue to serve as a GE vice chairman. Zucker’s appointment is effective today.

“Jeff will succeed one of the true giants in media -- Bob Wright -- to whom we owe a tremendous debt of gratitude for helping to build this great media company,” Immelt said. “By any measure, Bob is one of the most successful media executives ever. He transformed NBC from a broadcast network into a diversified global media company. He was always able to see what was coming next, whether it was cable, satellite, Hispanic broadcasting or digital media. Bob’s strategic vision and execution kept NBC growing.”

Zucker, 41, is a 21-year veteran of NBC Universal. As president and CEO, he will have responsibility for the strategic direction and operations of all NBC Universal properties. Zucker is one of the industry’s most experienced executives and has spent much of his career working in NBC’s news, sports, and entertainment divisions. As CEO of the NBC Universal Television Group since 2005, Zucker has overseen the company’s television programming and distribution operations, which account for two-thirds of the company’s overall profits.

“Jeff Zucker is a terrific talent and the right person to guide NBC Universal on the next stage of its growth,” Immelt said. “Jeff’s 20-plus years with NBC give him deep knowledge of the company’s strategy, people and culture. In the past few years, Jeff has shown that he is an energetic, focused leader who can rise to a challenge. His creative experience, expertise in news and broadcasting and intense passion for the business were immensely appealing to the Board and to me during this succession process.

“We have real business momentum, and the time is right to make this important transition,” Immelt said. “I like the team we have in place today, and believe that the future for NBCU is bright.”

In addition to serving as a vice chairman of GE, Wright will assist with the leadership transition at NBCU.

Immelt said, “Bob Wright has been a great GE leader. I am pleased that he will continue to serve as a GE vice chairman and that I will continue to have his counsel in our executive office and boardroom on a broad array of issues.”

Zucker said, "Bob has been a terrific mentor to me throughout my career, and I am honored to be his successor and fortunate to assume responsibility of a company that is so well positioned for future growth. I’ve spent my entire career at NBC and had the privilege to work with the best in the business every day. I look forward to continuing to work with this talented management team as we take NBC Universal to the next level.”

As CEO of NBCU’s television group, Zucker has overseen the company’s news, sports, and entertainment divisions; owned-and-operated television stations; cable entertainment properties, including USA, Sci Fi, and Bravo; cable news properties, CNBC and MSNBC; Spanish language network Telemundo; and the company’s television studio, first-run syndication, and global distribution efforts. Previously, Zucker had served as president of the NBC Entertainment, News & Cable Group. Before that, he served as president of NBC Entertainment.

A five-time Emmy winner, Zucker also served as executive producer of the “Today” show, where he turned the morning news program into the single-most profitable program on television. Additionally, Zucker served as executive producer of NBC’s coverage of several major events, including the “Decision 2000” election broadcast, the 1993 and 1997 presidential inaugurations, and the Persian Gulf War. His full biography can be accessed HERE.

Zucker graduated from Harvard College in 1986 with a bachelor’s degree in American History. He served as president of The Harvard Crimson from 1985 to 1986. He and his wife, Caryn, have four children.

Under Wright’s leadership, NBC’s revenues grew from $3 billion in 1986 to more than $16 billion in 2006. During his tenure, the company expanded its ownership of broadcast television stations, launched groundbreaking cable networks such as CNBC and MSNBC, and acquired fast-growing media assets such as Spanish-language broadcaster Telemundo and the arts and entertainment cable network, Bravo. In 2004, Wright led NBC’s acquisition of Vivendi Universal Entertainment, creating NBC Universal. The acquisition added such key assets as the USA Network, SciFi Channel, Universal Studios and Universal Parks in Orlando, FL and Hollywood, CA, expanding the company’s portfolio and establishing NBC Universal as a leader in the development, production, and marketing of entertainment, news, and information to a global audience.

Wright, 63, became chairman and chief executive officer of NBC Universal in May 2004 in conjunction with the combining of NBC and Vivendi Universal Entertainment. He became president and chief executive officer of NBC on Sept. 1, 1986, and became chairman and chief executive officer on June 4, 2001.

“It has been an honor and privilege to lead NBC Universal for the past twenty years,” Wright said. “I hand over the reins now with great pride in what we’ve accomplished and great confidence about what NBC Universal will become. We have momentum, outstanding support from GE and Vivendi, and a terrific executive in Jeff Zucker. I look forward to watching the next chapters of this wonderful company unfold under Jeff’s leadership.”

Before leading NBC, Wright served as president of General Electric Financial Services and, before that, as president of Cox Cable Communications. He has had a diversified career in general management, marketing, and broadcasting. Much of it has been with General Electric. In 2005, Wright and his wife, Suzanne, founded Autism Speaks after their grandson was diagnosed with the disorder. The nonprofit foundation, which is dedicated to raising awareness about autism and funding biomedical research, has already raised more than $50 million. Wright's full bio is available HERE.

NBC Universal is 80% owned by GE and 20% owned by Vivendi. The company’s board of directors comprises senior executives from GE/NBCU and Vivendi.

GE Announces Winners in Auction for New York City Electric Transmission Capacity

Four power marketing and trading companies have won an auction of the electric capacity from what GE Energy Financial Services believes is the first truly merchant US transmission project. The project will provide New York City with much-needed additional power.

A three-month-long open season process -- including a fair, open, and transparent marketing program -- culminated in a successful auction for transmission rights. Winning bidders were Cargill Power & Gas Markets, Conectiv Energy Supply, Inc. (Conectiv Energy), Consolidated Edison Energy, Inc., and a fourth company that requested its name not be disclosed. None of the winning bidders is affiliated with GE. Financial details were not disclosed.

The project will create an additional 300 megawatts of electricity transmission transfer capability from the Pennsylvania/Jersey/Maryland (PJM) Interconnection, the largest centrally dispatched electric grid in the world, to the NYISO grid serving the New York metropolitan area. Capacity was auctioned in twelve 25-megawatt blocks of transmission scheduling rights, which include all associated rights for withdrawing energy and generation capacity from PJM and its delivery into NYISO. Transmission scheduling rights were offered in three-, five-, and seven-year contract lengths. Cargill Power Markets won three blocks for three years. Conectiv Energy won one block for five years. Consolidated Edison Energy won one block for three years.

The project, to be constructed adjacent to GE’s 900-megawatt Linden, NJ, cogeneration power plant, will be the first truly merchant transmission project in the United States. While regulators set tariff rates on other transmission projects or developers negotiate those rates with a utility, rates for transmission scheduling rights on the Linden project were set solely in an open auction, held Jan. 16, among market participants competing for economic power sources.

“Capacity-constrained New York City has among the highest electricity costs in North America, creating strong demand for PJM’s historically lower-cost sources of power generation,” said Mark Mellana, a managing director for power at GE Energy Financial Services. “Winning bidders gain access to a diverse universe of economic power sources, while New York City gains access to enough electricity to power up to 300,000 homes.”

The project will transmit power from PJM to NYISO using excess capacity available in a cable running in bedrock 60 feet beneath the Arthur Kill waterway, originating at the Linden power plant and connected to Consolidated Edison’s Goethals substation in the New York City borough of Staten Island. The project will increase the capacity of the cable, which went into operation in 1992, to 1190 megawatts. Project construction is expected to commence during the first half of this year, with commercial operation anticipated during the fourth quarter of 2009.

Building on GE Energy Financial Services’ 25-year legacy of investment in power, the project will consist of the design, construction, and operation of three 100-megawatt Variable Frequency Transformers, using proprietary GE technology that enables a simple and controlled transmission path between electrical grids. The three Variable Frequency Transformers will be installed at the Linden plant, which GE Energy Financial Services purchased last year. This would be the third installation of GE’s Variable Frequency Transformer technology in North America.

The proposed project reflects GE Energy Financial Services’ commitment to investing in and financing transmission projects. GE Energy Financial Services holds investments in power projects with a capacity to produce 22 gigawatts, enough to power more than 20 million homes.

About GE Energy Financial Services

GE Energy Financial Services’ 300 experts invest globally with a long-term view, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $13 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. More information: www.geenergyfinancialservices.com

About GE

GE (NYSE: GE) is a diversified technology and services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com

About Cargill Power & Gas Markets

Cargill Power & Gas Markets is a proprietary trader of electricity and natural gas, with offices in Minneapolis and Calgary. CPGM leverages its trading and risk management capabilities by aligning itself with entities that own, control or seek control of energy assets including gas transportation and storage or power generation. It is a business unit of Cargill, Incorporated, an international provider of food, agricultural and risk management products and services. With 149,000 employees in 63 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed.

About Conectiv Energy Supply, Inc. (Conectiv Energy)

Conectiv Energy is the competitive, wholesale subsidiary of Pepco Holdings, Inc. (NYSE: POM). Their teams of professionals operate a portfolio of 3700 MW of environmentally friendly, highly flexible power plants, located in five states within the PJM Interconnection power pool. Conectiv Energy applies the expertise of an in-house wholesale merchant asset management team to responsibly optimize the value of its energy portfolio.

About Con Edison Energy

Consolidated Edison Energy, Inc. (CEE) is a wholesale energy supply company, and is a wholly owned subsidiary of Consolidated Edison, Inc. CEE sells energy and capacity from power generating facilities, obtains energy for energy marketers including Consolidated Edison Solutions, its retail affiliate, and is an active participant in the wholesale markets and regulatory process in the Northeast.

GE: GE Security Announces Next Generation Container Security Solution to Further Increase Security of Cargo and Ports

GE Security and its global partners today announced the release of the latest version of the CommerceGuard™ System, which is designed to further increase security of cargo containers and ports by addressing dangerous vulnerabilities in today’s global supply chain.

Version 3.0 extends CommerceGuard’s container security system with new, ultra rugged readers; automated XML data feeds for use by customers to track the status and location of their shipments, and a secure protocol for highly reliable wireless messaging. Security is assured by encrypting all data communications and authenticating all hardware transactions and authorized users. Extensive lab and field tests conducted by independent third parties show wireless communications for the system exceed 99% reliability, and the sensor detects container breaches with a false positive rate that is less than 1 percent.

“The U.S. Congress has identified a lack of maritime security as one of our country’s greatest vulnerabilities and the U.S. Department of Homeland Security continues to seek technologies that can safeguard maritime container shipments,” said Randy Koch, president and CEO, CommerceGuard. “The supply chain’s weakest link is the transport of containers from the factory point of origin to a foreign port. CommerceGuard addresses this vulnerability today by detecting and reporting security breaches while the containers are in-transit.”

“It’s crystal clear that more progress needs to be made with port and container security,” said A. Louis Parker, president and CEO, GE Security. “GE Security is committed to making the world a safer place and we are pleased, along with our three multinational partners, to demonstrate this commitment by fielding this new generation of CommerceGuard products that can immediately and materially improve the security of cargo containers and the world’s ports.”

The latest version of the CommerceGuard System delivers state-of-the art technology in a container security device (CSD) that can detect and report intermodal cargo container intrusions. The CSD is uniquely located inside the container for protection from sabotage as well as the harsh maritime environment. CommerceGuard is the first, market-ready global supply chain security system that can deter and detect theft, smuggling and international terrorism by integrating container security devices with a global information network.

Point-to-point tracking data from the CommerceGuard system is available to customers at no extra charge. Shippers and logistics professionals use the data for supply chain visibility. Shippers, carriers, and ports that currently operate the CommerceGuard System to protect and track assets include Starbucks Coffee Company, Yang Ming Marine Transport Corp., and the Virginia Port Authority.

The CommerceGuard 3.0 products are available worldwide through a global business collaboration consisting of GE Security (NYSE:GE), Mitsubishi Corporation (TSE:8058), Samsung Corporation (SEO:000830), and Siemens Building Technologies (NYSE:SI). The CommerceGuard Information Network is globally established in fourteen international seaports, and is slated for additional expansion through ports in 2007.

The CommerceGuard container security device is positioned inside an intermodal cargo container and registers any opening of the container door. Fixed and handheld readers at critical points along the supply chain collect container status from the device and report it using the CommerceGuard Information Network. This information provides cargo owners greater security while tracking the location and status of shipments as their containers move through the supply chain. Tracking data is available at no additional charge as part of the CommerceGuard service. Should an unauthorized door opening occur, it is recorded as a tamper event and alerts are sent to appropriate officials. Cargo owners, authorized logistics providers and appropriate government authorities can securely access the security and tracking data from any Internet browser. GE Security holds the sales and distribution rights for the CommerceGuard system in North America and certain other regions.



About CommerceGuard
The CommerceGuard container security solution, jointly owned by GE Security, Mitsubishi Corporation, Samsung Corporation, and Siemens Building Technology, features the first market-ready container security device (CSD) that is located inside an international cargo container and registers openings of the container door. Fixed and handheld readers record its status in the CommerceGuard Information Network that can be accessed at no additional charge by customers and government officials anywhere in the world.

GE Unit Makes First Investment in Infrastructure Project Using Gasification Technology

GE Energy Financial Services, a unit of General Electric (NYSE:GE), announced today that it has made its first investment in a plant that will generate power and produce substitute natural gas using coal gasification technology. It is acquiring a 20 percent equity interest in The ERORA Group LLC, which is developing Kentucky’s 630 net megawatt Cash Creek Integrated Gasification Combined Cycle facility, one of the most advanced and largest gasification projects under development in the United States.

Financial details of the transaction with Louisville-based ERORA were not disclosed.

Gasification converts coal into a gas that is cleaned and then can be used to generate power or modified further to produce natural gas, hydrogen, or other basic chemicals. Relative to conventional coal-based power generation technologies, the project would produce fewer air emissions, and would use less water to provide power for 400,000 homes.

“This transaction is an anchor for our plans to grow by investing in gasification — a cleaner, more environmentally friendly power source compared to traditional coal-fired generation —and is consistent with GE’s ecomagination initiative, helping customers meet their environmental challenges,” said Dan Castagnola, a managing director at GE Energy Financial Services. “The investment represents an opportunity to build a coal gasification facility that takes advantage of an abundant, locally produced natural resource in Kentucky, the nation’s third-largest coal-producing state.”

Ecomagination is GE’s commitment to expand its portfolio of cleaner energy products while reducing its own greenhouse gas emissions.

The Cash Creek project‘s strategic location in Henderson County along the Green River provides the flexibility to interconnect with three electric grids -- the PJM West, MISO and SPP -- and is within six miles of both the ANR and TGT interstate gas pipeline connections, enabling efficient transport to end customers of the gas it will produce. Construction of Cash Creek is expected to begin in late 2007, pending financial close and required project approvals, with commercial operation planned in 2010/2011.

In making this investment in The ERORA Group, GE Energy Financial Services joins the New York investment firm D.E. Shaw group, which acquired a majority interest in the company last year.


About GE Energy Financial Services

GE Energy Financial Services’ 300 experts invest globally with a long-term view, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $13 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. In renewable energy, GE Energy Financial Services has developed a strong record investing in wind, solar, biomass, hydro and geothermal power, and is growing its portfolio of $1.5 billion in renewable energy assets. More information: www.geenergyfinancialservices.com

About GE

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. For more information, visit www.ge.com

About The ERORA Group

The ERORA Group is a privately owned company headquartered in Louisville, KY. The company’s efforts are focused on coal gasification. ERORA's management has more than 60 years of combined industry experience and extensive background in utility management, energy marketing and generation asset development.

About the D.E. Shaw Group

The D.E. Shaw group is a global investment and technology development firm. Since its organization in 1988, the firm has earned an international reputation for financial innovation, technological leadership, and an extraordinarily distinguished staff. The D.E. Shaw group encompasses a number of closely related entities, with approximately 1000 employees, $25 billion in aggregate investment capital, and offices in New York, London, Silicon Valley, Houston, Kansas City, San Francisco, the Washington DC area, and Hyderabad, India.

Comverge Completes $40 Million Financing with GE Energy Financial Services to Grow Its Clean Energy Programs

Comverge, Inc. announced today that it has obtained a $40 million senior credit facility from GE Energy Financial Services to expand its clean energy programs, which reduce energy costs by increasing available electric capacity during periods of peak electricity demand.

GE Energy Financial Services’ debt finance group lead-arranged the credit facility for Comverge’s wholly owned subsidiary, Alternative Energy Resources, Inc. The credit facility, which has a seven-year term, will be used for capital expenditures and expansion of the subsidiary’s existing and future awarded pay-for-performance Virtual Peaking Capacity™ programs. Designed to provide electric utilities with fully outsourced demand response provided by Comverge, these programs use a long-term pay-for-performance contract structure and provide demand response resources quickly and economically, with low risk to the utility.

GE Energy Financial Services identified Comverge as a leading demand response company within the clean energy industry, based on its innovative Virtual Peaking Capacity business model and its products that efficiently reduce demand for electricity during peak consumption periods.

“As utilities are faced with higher peak costs every year, our Virtual Peaking Capacity offering is gaining broad acceptance. This additional capital will help fuel the ramp-up of new programs that we expect to be awarded,” said Comverge’s Chairman, President and CEO, Robert M. Chiste. “We appreciate the financial support of GE Energy Financial Services, a leader in clean energy investing.”

“This transaction with Comverge is GE Energy Financial Services’ first corporate debt financing for a growing solutions provider in the strategically important demand response electricity management sector,” said Tony Shizari, Managing Director and leader of the debt finance group at GE Energy Financial Services. “It goes hand-in-hand with GE Energy Financial Services’ targeted effort in the renewables sector and aligns with GE's ecomagination program to help its customers meet their environmental challenges while reducing its greenhouse gas emissions.”

With more than 70 dedicated professionals, GE Energy Financials Services’ debt finance group provides a full complement of debt products and services for the energy and water industries, including structured, project and acquisition debt, equipment leases and loans, revolving credit facilities, fleet financing and corporate loans. Its GE Capital Markets affiliate provides arranging and syndication for many of these facilities.

About Comverge
Comverge is a leading provider of Clean Energy solutions that enhance grid reliability and enable utilities to increase available electric capacity during periods of peak energy demand on a more cost-effective basis than conventional alternatives. For more information, visit www.comverge.com

GE Reports Strong Fourth-Quarter and Full-Year Results for 2006

GE announced record full-year 2006 earnings from continuing operations of $20.7 billion or $1.99 per share, up 11% and 13%, respectively, from 2005. Full-year revenues from continuing operations were also a record $163.4 billion, up 10%, increasing 9% organically.


“With strong performances at Infrastructure,
Healthcare and the financial services businesses, GE delivered
double-digit growth in earnings and revenues for the quarter and the
year,” GE Chairman and CEO Jeff Immelt said. “NBC
Universal’s turnaround is advancing and
Industrial had a good year in spite of continued commodity inflation and
competitive challenges at Plastics. We completed the disposition of
Advanced Materials in the quarter at a favorable tax rate, which enabled
us to accelerate our comprehensive restructuring efforts.


“For the second straight year, we
strengthened our operating leverage and achieved our organic revenue
growth target. We expanded our operating profit margin 190 basis points
to 18.2% in the fourth quarter, and we increased ROTC 180 basis points
to 18.4% for the year,” Immelt said. “We
posted our eighth straight quarter of organic revenue growth of 2-3X GDP.


“Demand for our services and products
continues to grow globally. Our higher-margin services revenues grew 13%
for the quarter, and global revenues accounted for $78 billion of
revenues for the year, up from approximately $40 billion in 2000.


“We generated total cash flow from operating
activities (CFOA) of $24.6 billion in 2006, an increase of 14% over
2005. With this cash, we have invested in the businesses, increased the
quarterly dividend for the 31^st straight year
and purchased $8.1 billion of stock,” Immelt
said.


“We continue to execute on our strategy to
invest in leadership businesses. Our focus remains on building faster
growth, higher margin businesses. Since the beginning of the year, we
have announced $15 billion of acquisitions in fast growth platforms in
Oil & Gas, Healthcare and Aviation,”
Immelt said. “We continue to exit slower
growth and more volatile businesses, and we are currently reviewing the
potential disposition of our Plastics business.


“We still intend to execute on our $5-7
billion buyback plan for 2007. This buyback will be back-end loaded
after we complete our business development activity, and we are on track
to achieve our 20% ROTC goal by 2008.”


Restatement


GE today is also amending its 2005 Form 10-K to restate its financial
position and results of operations for the years 2001 through 2005. GE
is also amending its Forms 10-Q for each of the first three quarters of
2006 to restate related interim financial statements. The restatement
adjusts GE’s accounting for interest rate
swaps used to fix certain otherwise variable interest costs in a portion
of its financial services commercial paper program. The restatement is
based on a determination of the Office of Chief Accountant of the
Securities and Exchange Commission, following discussions with GE and
its auditors, that this commercial paper hedging program did not meet
the specificity requirement of SFAS 133, Accounting for Derivative
Instruments and Hedging Activities. Accounting issues concerning
this program had been referred to that Office in connection with a
previously-disclosed SEC investigation relating to derivatives
accounting. GE and its auditors had concluded that the company’s
accounting for the commercial paper hedging program satisfied the
requirements of SFAS 133.


Keith Sherin, Senior Vice President and CFO, said, “Our
commercial paper hedge positions were consistent with our risk
management policies and economic objectives. While we are disappointed
that our program did not meet the technical requirements of SFAS 133, we
are committed to the highest standards of controllership and
transparency and ensuring appropriate application of SFAS 133. We have
corrected our commercial paper hedge policies and documentation, and
related internal controls, as of January 1, 2007.”


The impact of the restatement is as follows:

• Cumulative earnings reduction of $343 million from 2001-2006
  


• Earnings reduction in 2001 and 2002, and earnings increase in 2003-2005
  


• Earnings increase of $130 million in 2006, adding $.01 to full year
  EPS. Only 1Q-3Q affected, with no impact on 4Q
  


• Slightly positive effect on earnings over the next 10+ years (life of
  program impact of the adjustment = zero)
  


• No effect on CFOA or liquidity
  

Highlights of Preliminary Full-Year and Fourth-Quarter 2006 Results
(Prior Periods Restated):


Full-Year earnings from continuing operations were a record $20.7
billion, up 11% from $18.7 billion in 2005. EPS from continuing
operations were $1.99, up 13% from last year’s
$1.76. Four of GE’s six businesses
contributed double-digit earnings growth for the year.


Full-year continuing revenues grew 10% to a record $163.4
billion. Industrial sales rose 10% to $99.1 billion, reflecting core
growth and the net effects of acquisitions. Financial services revenues
grew 11% over last year to $63.6 billion, reflecting core growth and the
net effects of acquisitions.


Fourth-quarter earnings from continuing operations were $6.6
billion, up 12% from $5.9 billion in fourth quarter 2005. EPS from
continuing operations were $.64 per share, up 14% from last year’s
$.56. Four of GE’s six businesses contributed
double-digit earnings growth.


Fourth-quarter continuing revenues were $44.6 billion, up 11%
from $40.3 billion in fourth quarter 2005. Industrial sales increased 6%
to $27.1 billion, primarily reflecting core growth. Financial services
revenues grew 16% over last year to $17.1 billion, reflecting core
growth and the effects of acquisitions.


Cash generated from GE’s operating
activities in 2006 totaled $24.6 billion, up 14% from $21.6 billion last
year, reflecting a $2.0 billion increase in GE Capital Services’
dividends, substantially all of which was proceeds from sales of
insurance businesses, and a 7% increase from the Industrial businesses.


Discontinued Operations for the fourth quarter was a $3 million
loss, which reflected the results of the sale of GE Life late in the
quarter, and final adjustments to the June sale of Insurance Solutions.
Accordingly, fourth-quarter net earnings were $6.6 billion ($.64 per
share) in 2006 and $3.2 billion ($.30 per share) in 2005. For the year,
earnings from discontinued operations were $0.2 billion in 2006 compared
with a loss of $1.9 billion in 2005. Accordingly, total year net
earnings were $20.8 billion ($2.00 per share) in 2006 and $16.7 billion
($1.57 per share) in 2005.


2007 Outlook


“Looking ahead, the global environment
remains positive for GE. Our businesses are positioned to capitalize on
the drivers of the global economy – demand
for infrastructure around the world, growth in emerging markets,
favorable demographics, environmentally favorable technology, increasing
use of digital connections, and robust liquidity in the financial
markets,” Immelt said.


“We begin 2007 with a stronger set of
businesses, our key financial metrics heading in the right direction and
a cash position that gives us tremendous flexibility,”
Immelt said. “We see full-year 2007 EPS from
continuing operations of $2.18-2.23, an increase of 10-12% over
comparable 2006 earnings. For 1Q’07, we
expect to achieve EPS of $.43-.45, up 8-13%. Furthermore, we believe
that our strategic moves position GE for sustained growth in the future.”


GE will discuss preliminary fourth-quarter and full-year results on a
conference call and Webcast at 8:30 a.m. ET today. Call information is
available at www.ge.com/investor,
and related charts will be posted there prior to the call.