GE opens research centre

General Electric Company
24 October 2002

  General Electric (GE) to Open Its First European Research Center in Germany

           GE CEO Immelt announces investment volumes of $52 million

Berlin, Germany (October 23rd, 2002) -- U.S. technology company General Electric
(GE), headquartered in Fairfield, Connecticut, is opening its first European
research and development center in Germany. In a joint press conference today,
Federal Chancellor Gerhard Schroder and GE Chairman & CEO Jeffrey R. Immelt
announced that GE will invest $52 million (USD) over the next five years to
locate a 150-scientist research facility on the Garching campus of the Technical
University of Munich (TUM). The facility will be part of GE Global Research,
which conducts advanced research and development for all of GE's businesses.

'Germany is a world-class source of intellectual capital, home to over 8,000 GE
employees and hundreds of our most valued customers,' Immelt said. 'It is a
logical choice to be the site of our first technology center in Europe, bringing
our advanced technology development closer to our many customers here and
throughout Europe.'

The Europe technology center will concentrate on innovative development projects
in areas such as renewable energy, medical imaging, and materials science. The
center will also develop advanced applications of materials and lighting
technology for the automotive industry.

'We look for the best and brightest minds from around the world to be part of
the GE technology team,' explained Scott Donnelly, senior vice president and
director of GE Global Research. 'The Europe technology center expands our
capability to develop the breakthrough innovations that will drive the future
growth of GE. And with the strong support of the Bavarian government we are able
to build the facility at one of the most prestigious technical universities in
the world, which is a unique opportunity we're proud to be part of.'

GE plans to start construction of the new center in the first quarter of 2003,
with the research facility beginning operations early in 2004. The plan calls
for approximately 25 researchers to be hired within the next year, increasing to
150 by 2005.

The Europe technology center will be the fourth GE research and development
facility worldwide, joining the sites in Niskayuna/New York, Bangalore/India and
Shanghai/China. The Global Research headquarters in upstate New York was founded
in 1900 and was the first industrial research lab in the United States. Earlier
this year, GE announced a $100 million expansion to the New York facility to
include a new wing of labs and state-of-the-art conferencing facilities.

In 2000, GE opened the John F. Welch Technology Centre in Banglaore, India, its
first R&D center outside of the United States. GE is currently building a new
technology center in Shanghai, China, which will open in early 2003 and be home
to the approximately 100 GE researchers currently in that country. Together the
three facilities comprise 2,200 technologists, 750 of whom hold doctorates.
These scientists conduct advanced research and development for all the GE
businesses and are responsible for breakthroughs in such diverse technologies as
medical imaging, aircraft engines, power generation, materials, lighting and
locomotives.

Since its founding in 1892 by Thomas Edison, GE's hallmark has been
technological leadership. In its 110-year history, GE has registered more than
70,000 patents in the United States alone, and has had two Nobel prize winners.
During that time, GE has brought to life innovations such as the first safe xray
tube, man-made diamonds, Lexan polycarbonate, the digital xray system, and the
world's most powerful jet engine.

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.

Contact: Troy Kirkpatrick

GE Global Research

[phone]

[e-mail]

Lisa Fulton

GE Corporate Communications

3135 Easton Turnpike

Fairfield, CT 06431

203.373.2389 Dial Comm: 8*229-2389

[e-mail]


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