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General Electric (GEC)

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Wednesday 11 October, 2000

General Electric

3rd Quarter & 9 Mths Results

General Electric Company
11 October 2000



GE Reports Record Third-Quarter 2000 Results
Earnings Per Share Up 19% to $.32
Revenues Up 18% Over 1999

Fairfield, Conn. - October 11, 2000 - GE achieved record results for the third
quarter of 2000 with broad-based strength across the company's businesses,
Chairman John F. Welch reported today.

   Specific highlights include:
   
*  Revenues for the third quarter increased to a record $32.0 billion, 18%
   above last year's quarter, reflecting continued growth from globalization
   and product services.
   
*  Third-quarter earnings per share increased 19% to $.32, up from last
   year's $.27, and earnings increased 20% to $3.180 billion.  Both earnings
   per share and earnings were records for the quarter.
   
*  Excluding the effects of a third-quarter retirement benefit provision
   associated with the new labor agreement, GE's third-quarter operating
   margin was 17.6% of sales, up from last year's 16.7%, reflecting
   increasing benefits from GE's focus on product services, Six Sigma quality
   and e-Business initiatives.  GE's reported third-quarter operating margin
   was 16.6%.
   
*  GE's industrial businesses achieved revenue growth of 18% above third
   quarter 1999.  Operating profit for six of seven operating segments
   increased by double digits - led by Power Systems, Medical Systems,
   Plastics and Aircraft Engines.
   
*  GE Capital Services' third-quarter earnings rose to $1.478 billion, 17%
   above last year's $1.262 billion.  These record results reflect the
   globalization and diversity of GE Capital's businesses, with strong double-
   digit increases in its Specialized Financing, Consumer Services, Equipment
   Management and Mid-Market Financing segments.
   
*  Cash generated from GE's operating activities during the first nine months
   was a record $9.9 billion, up 34% from last year's $7.4 billion.  As part
   of the $22 billion share repurchase program, GE purchased $495 million of
   its stock during the third quarter to reach $17.0 billion - 943 million
   shares - purchased since December 1994.
   

'In addition to delivering record third-quarter results, GE's businesses made
aggressive moves to position themselves for strong future growth', Mr. Welch
said.

Highlights of recent activities include:

GE Power Systems (GEPS) continued to experience strong demand for power
generation equipment and services.  Orders for the quarter were up 90% to $7.3
billion.  Power Systems continued to win the majority of the orders for heavy-
duty gas turbines in the United States with orders more than double the third
quarter 1999 level.  Demand for fully packaged 25 to 60 megawatt gas turbines
at S&S Energy Products continued to build with orders up more than three-fold
from the 1999 quarter.  Power Systems added $1.2 billion in new long-term
service agreements in the quarter bringing the total commitments for these
long-term contracts to $12.2 billion.  GEPS continued redefining the large
portable power market with the first five TM2500 portable power plants
launched this summer at Commonwealth Edison being shipped to Cork, Ireland,
where they will supply up to 110 megawatts of temporary winter peaking
capacity.  GEPS acquired Smallworldwide, a UK-based developer of software
solutions for spatial mapping of networks.

GE Aircraft Engines continued to win the majority of the world's orders for
airline jet engines, including more than $2 billion in commercial engine wins
at the Farnborough Air Show and significant orders for the longer-range Boeing
777 aircraft from ILFC, ANA and Air France.  Lockheed Martin selected GE
engines for the U.S. Air Force C-5 modernization program with a potential
value in excess of $2.5 billion.  GE Engine Services reported nearly $1
billion in new multi-year service contracts with several airlines including
Qantas, Ansett/Air New Zealand, and Japan Air Lines.

GE Capital took broad-based actions to drive future growth.  GE Americom
launched its GE-7 satellite, reinforcing its position as the number one
provider of satellite services in North America.  Penske truck leasing and
rental business acquired Rentway, Ltd., expanding Penske's North American
service network and positioning Penske as the leading Canadian truck leasing
and rental business.  GE Capital Aviation Services and GE Equity announced a
strategic investment in Carmen Systems, a worldwide leader in developing
solutions for airlines to optimize the use of aircraft and crews.  GE Capital
formed a joint venture, Japan Equity Capital Co. Ltd., with Sumitomo Corp. and
Daiwa Securities to manage a private equity fund in Japan.

GE Medical Systems (GEMS) completed three acquisitions to enhance its
technical position and growth.  Magnex will expand GEMS performance in the
fast-growth high-field MR market; MicroMedical increases GE's presence in
cardiovascular information systems; and Access Medical is the industry's
largest multi-vendor used equipment business.  GEMS e-Business momentum
continues to build with online orders surpassing $1 billion year-to-date, and
more than 650 diagnostic units with Internet connectivity.

GE Transportation Systems (GETS) acquired Harmon Industries, Incorporated.
Harmon's wide range of railroad and transit signaling, wayside and control
products and systems, complement GETS service offerings.  GETS was awarded a
Canadian Pacific Railway contract to service more than 300 General Motors' EMD
locomotives.  GETS received locomotive orders for 60 U.S. units from Amtrak
and 10 units from Adtranz in Europe.

NBC garnered the most Emmy nominations and awards for the sixth consecutive
year. The West Wing and Will & Grace won the best drama and comedy series,
respectively.  The West Wing broke the all-time record for Emmy wins by any
series in a single season.  NBC's Today Show in Sydney had two of its top ten
most watched weeks in the 49-year history of the show.  NBC's Today Show,
Nightly News and Tonight Show with Jay Leno continue to win their time periods
finishing the quarter number 1.  CNBC Business Day continued its strong
ratings performance beating CNN for the fourth consecutive quarter.  NBC's
Olympic success was broad-based with coverage on NBC reaching 185 million
Americans during its 17 days of coverage and boosted ratings for the Today
Show 25%, CNBC 88% and MSNBC 181%.  NBC Olympics.com had 43 million page views
averaging 23 minutes per visitor.  NBC successfully negotiated long-term cable
extension deals with the vast majority of U.S. cable system operators and now
has agreements for CNBC and MSNBC Olympic cable distribution through 2008.

GE Plastics completed the acquisition of Cadillac Plastics, a global
distributor of plastic shapes including sheet, film, tube, rod and fabricated
parts.  This addition expands its product offering and worldwide distribution
network.  Plastics also announced the opening of two new compounding plants in
Shanghai, China, and Bangkok, Thailand, to serve its growing Asian customer
base in the business equipment, automotive, and optical media markets.

GE Appliances registered significant market share gains from product and
distribution moves.  New product introductions in the quarter were led by the
successful launch of Wizard, the electronically controlled clothes care
system, the Advantium built-in wall oven, and the Aquarius front-loading
automatic washing machine.  In August, Wal-Mart, the world's largest retailer,
announced that it would begin selling a full line of GE-branded major
appliances.

GE Industrial Systems continued to expand its portfolio of product offerings
through the acquisitions of the German company Graesslin, specializing in time
switches, and a majority interest in Instrument Transformers Inc., a leading
manufacturer of indoor-type instrument transformers for the industrial market.

Mr. Welch concluded: 'The record results for the third quarter once again
demonstrate the ability of GE's diverse mix of leading global businesses to
deliver top-line growth, increased margins and strong cash generation.  The
combination of global growth, expansion of our product services activities,
rapid introduction of new products, our Six Sigma quality initiative and our
e-Business initiatives position GE to deliver another year of record performance
in 2000.  We are comfortable with the First Call analysts' consensus estimate of
$1.27 per share for 2000.'

Caution Concerning Forward-Looking Statements

This document includes certain 'forward-looking statements' within the meaning
of the Private Securities Litigation Reform Act of 1995.  These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances.  Actual results may differ materially from those
expectations due to changes in global economic, business, competitive market
and regulatory factors.  More detailed information about those factors is
contained in GE's filings with the Securities and Exchange Commission.

GE (NYSE: GE) is a diversified services, technology and manufacturing company
with a commitment to achieving customer success and worldwide leadership in
each of its businesses.  For more information, visit the company's Web site at
http://www.ge.com.

PRESS RELEASE DATA
GENERAL ELECTRIC COMPANY
All amounts except per-share earnings are in millions of U.S. dollars.

                                          THIRD QUARTER
                                                                              
                                  2000                1999                  V%
Revenues                       $32,014             $27,200                  18
                                                                              
Earnings                        $3,180              $2,653                  20
                                                                              
Per-Share Earnings                                                            
- diluted                        $0.32               $0.27                  19
- basic                          $0.32               $0.27                  19

Segment Information
                                                                              
                                                 2000         1999          V%
Revenues                                                                      
Aircraft Engines                               $2,580       $2,659         (3)
Appliances                                      1,495        1,449           3
NBC                                             1,895        1,076          76
Industrial Products and Systems                 2,777        2,802         (1)
Plastics                                        1,970        1,690          17
Power Systems                                   3,521        2,464          43
Technical Products and Services                 1,902        1,601          19
GE Capital Services                            16,444       14,002          17

Segment profit
                                                                              
                                                 2000         1999          V%
                                                                              
Aircraft Engines                                  614          536          15
Appliances                                        159          137          16
NBC                                               292          265          10
Industrial Products and Systems                   497          491           1
Plastics                                          487          390          25
Power Systems                                     670          397          69
Technical Products and Services                   439          316          39
GE Capital Services net earnings                1,478        1,262          17


                              NINE MONTHS ENDED SEPTEMBER 30, 2000
                                                                              
                                  2000                1999                  V%
Revenues                       $94,872             $78,775                  20
                                                                              
Earnings                        $9,150              $7,628                  20
                                                                              
Per-Share Earnings                                                            
- diluted                        $0.91               $0.76                  20
- basic                          $0.93               $0.78                  19



Segment Information
                                                                              
                                                 2000         1999          V%
Revenues                                                                      
Aircraft Engines                               $7,770       $7,727           1
Appliances                                      4,451        4,126           8
NBC                                             5,244        4,038          30
Industrial Products and Systems                 8,599        8,226           5
Plastics                                        5,845        5,046          16
Power Systems                                  10,469        6,507          81
Technical Products and Services                 5,556        4,721          18
GE Capital Services                            48,595       39,763          22

Segment profit
                                                                              
                                                 2000         1999          V%
                                                                              
Aircraft Engines                                1,781        1,527          17
Appliances                                        503          475           6
NBC                                             1,321        1,143          16
Industrial Products and Systems                 1,614        1,424          13
Plastics                                        1,443        1,255          15
Power Systems                                   1,875        1,104          70
Technical Products and Services                 1,192          912          31
GE Capital Services net earnings                3,965        3,386          17

GENERAL ELECTRIC COMPANY
Condensed Statement of Earnings

                                                             Consolidated
Third quarter ended September 30, 2000                        2000        1999
                                                                              
Revenues                                                                      
Sales of goods and services                                $17,920     $15,515
Earnings of GECS                                                 -           -
GECS revenues from services                                 13,981      11,597
Other income                                                   113          88
                                                                              
Total revenues                                              32,014      27,200
                                                                              
Costs and expenses                                                            
Cost of sales, operating and administrative expenses        20,321      17,844
Interest and other financial charges                         2,859       2,455
Insurance losses and policyholder and annuity benefits       3,731       2,764
Provision for losses on financing receivables                  463         227
Minority interest in net earnings of consolidated              110          92
affiliates
                                                                              
Total costs and expenses                                    27,484      23,382
                                                                              
Earnings before income taxes                                 4,530       3,818
Provision for income taxes                                 (1,350)     (1,165)
                                                                              
Net earnings                                                $3,180      $2,653

                                                                  GE
Third quarter ended September 30                              2000        1999
                                                                              
Revenues                                                                      
Sales of goods and services                                $15,578     $13,228
Earnings of GECS                                             1,478       1,262
GECS revenues from services                                      -           -
Other income                                                   133          95
                                                                              
Total revenues                                              17,189      14,585
                                                                              
Costs and expenses                                                            
Cost of sales, operating and administrative expenses        12,999      11,016
Interest and other financial charges                           148         191
Insurance losses and policyholder and annuity benefits           -           -
Provision for losses on financing receivables                    -           -
Minority interest in net earnings of consolidated               54          43
affiliates
                                                                              
Total costs and expenses                                    13,201      11,250
                                                                              
Earnings before income taxes                                 3,988       3,335
Provision for income taxes                                   (808)       (682)
                                                                              
Net earnings                                                $3,180      $2,653


                                                                 GECS
Third quarter ended September 30                              2000        1999
                                                                              
Revenues                                                                      
Sales of goods and services                                 $2,392      $2,352
Earnings of GECS                                                 -           -
GECS revenues from services                                 14,052      11,650
Other income                                                     -           -
                                                                              
Total revenues                                              16,444      14,002
                                                                              
Costs and expenses                                                            
Cost of sales, operating and administrative expenses         7,409       6,926
Interest and other financial charges                         2,765       2,291
Insurance losses and policyholder and annuity benefits       3,731       2,764
Provision for losses on financing receivables                  463         227
Minority interest in net earnings of consolidated               56          49
affiliates
                                                                              
Total costs and expenses                                    14,424      12,257
                                                                              
Earnings before income taxes                                 2,020       1,745
Provision for income taxes                                   (542)       (483)
                                                                              
Net earnings                                                $1,478      $1,262

Per share amounts (in dollars)                                     
Diluted earnings per share                           $0.32         $0.27
Basic earnings per share                             $0.32         $0.27
                                                                   
Dividends declared per share (in dollars)            $0.13 2/3     $0.11 2/3

Dollar amounts in millions; per-share amounts in dollars; unaudited.
Supplemental consolidating data are shown for 'GE' and 'GECS'.
Transactions between GE and GECS have been eliminated from the 'consolidated'
columns.  See note 1 to the consolidated financial statements in the 1999
Annual Report to Share Owners for further information about consolidation
matters.

GENERAL ELECTRIC COMPANY
Condensed Statement of Earnings

                                                             Consolidated
Nine months ended September 30                                2000        1999
                                                                              
Revenues                                                                      
Sales of goods and services                                $53,208     $44,735
Earnings of GECS                                                 -           -
GECS revenues from services                                 41,345      33,644
Other income                                                   319         396
                                                                              
Total revenues                                              94,872      78,775
                                                                              
Costs and expenses                                                            
Cost of sales, operating and administrative expenses        60,556      51,101
Interest and other financial charges                         8,655       7,122
Insurance losses and policyholder and annuity benefits      10,513       8,088
Provision for losses on financing receivables                1,405       1,048
Minority interest in net earnings of consolidated              305         254
affiliates
                                                                              
Total costs and expenses                                    81,434      67,613
                                                                              
Earnings before income taxes                                13,438      11,162
Provision for income taxes                                 (4,288)     (3,534)
                                                                              
Net earnings                                                $9,150      $7,628

                                                                  GE
Nine months ended September 30                                2000        1999
                                                                              
Revenues                                                                      
Sales of goods and services                                $46,362     $38,990
Earnings of GECS                                             3,965       3,386
GECS revenues from services                                      -           -
Other income                                                   371         438
                                                                              
Total revenues                                              50,698      42,814
                                                                              
Costs and expenses                                                            
Cost of sales, operating and administrative expenses        37,952      32,155
Interest and other financial charges                           660         595
Insurance losses and policyholder and annuity benefits           -           -
Provision for losses on financing receivables                    -           -
Minority interest in net earnings of consolidated              146         122
affiliates
                                                                              
Total costs and expenses                                    38,758      32,872
                                                                              
Earnings before income taxes                                11,940       9,942
Provision for income taxes                                 (2,790)     (2,314)
                                                                              
Net earnings                                                $9,150      $7,628


                                                                 GECS
Nine months ended September 30                                2000        1999
                                                                              
Revenues                                                                      
Sales of goods and services                                 $7,030      $5,953
Earnings of GECS                                                 -           -
GECS revenues from services                                 41,565      33,810
Other income                                                     -           -
                                                                              
Total revenues                                              48,595      39,763
                                                                              
Costs and expenses                                                            
Cost of sales, operating and administrative expenses        22,909      19,248
Interest and other financial charges                         8,146       6,641
Insurance losses and policyholder and annuity benefits      10,513       8,088
Provision for losses on financing receivables                1,405       1,048
Minority interest in net earnings of consolidated              159         132
affiliates
                                                                              
Total costs and expenses                                    43,132      35,157
                                                                              
Earnings before income taxes                                 5,463       4,606
Provision for income taxes                                 (1,498)     (1,220)
                                                                              
Net earnings                                                $3,965      $3,386

Per share amounts (in dollars)                                     
Diluted earnings per share                                   $0.91       $0.76
Basic earnings per share                                     $0.93       $0.78
                                                                   
Dividends declared per share (in dollars)                    $0.41       $0.35

Dollar amounts in millions; per-share amounts in dollars; unaudited.
Supplemental consolidating data are shown for 'GE' and 'GECS'.
Transactions between GE and GECS have been eliminated from the 'consolidated'
columns.  See note 1 to the consolidated financial statements in the 1999
Annual Report to Share Owners for further information about consolidation
matters.