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General Elec. (GEC)

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Wednesday 31 July, 2002

General Elec.

GE sign SEC statement

General Electric Company
31 July 2002

Today Jeff Immelt and Keith Sherin signed and filed the sworn statements with
the US Securities and Exchange Commission affirming all of our filings. This
signed statement can be viewed on our website. Additionally, GE will expense
options beginning in the third quarter. Initially, we expect this will reduce
2002 net income by less than $30 million or less than one cent per share. We'd
expect the expense recognition will increase to the normal 'run-rate' of about
three cents per share over the next three to four years as the value of the
grants are amortized into earnings per FAS 123. Also, a holding period on stock
option exercises for senior officers will be implemented, requiring them to
purchase GE stock with any option gains and hold that stock for at least one
year. Senior officers also will be required to accumulate and hold GE stock in
equal value to a specified multiple of their base salary. This should give
investors confidence that GE leaders have significant personal stakes committed
to the long-term success of the company and investors.

On the website at you will find the press release announcing
these changes as well as links to:

*     Jeff and Keith's letters to the SEC

*     Sarbanes / Oxley Act

*     NYSE Recommendations

*     Jeff's letter to employees regarding corporate governance

Rich Wacker

Vice President, GE Investor Communications


DC 229-2468

                      This information is provided by RNS
            The company news service from the London Stock Exchange