GE Announcement

July 10, 2008 - Today GE announced that it is continuing to explore all options for its Consumer & Industrial businesses with a primary focus on spinning-off the Appliances, Lighting and Industrial units into a stand-alone business. In mid-May GE announced its intent to explore strategic options for the appliances business, which could include a strategic partnership, joint venture, spin-off or sale of the business. However, after reviewing the various options, GE determined the spin-off option for the entire Consumer & Industrial business would be a more efficient step for GE's portfolio transformation. Additionally, this potential action would allow Consumer & Industrial to control its own destiny, operate more effectively and efficiently as an integrated business while having greater freedom to drive an aggressive global growth strategy.

As we will continue to build on our 100-year history of innovation, it is also important to remember:

• We will continue to use, build upon and stand behind the valuable GE brand we helped create.
• We will continue to provide innovative and high-quality products.
• All warranty obligations and service contracts will be honored and fulfilled.

The business will continue to be led by President & CEO Jim Campbell who has grown each of the Consumer & Industrial businesses, in many cases outperforming the respective industries in very competitive market environments. We expect the spin-off option would be completed by mid-2009.

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