Final Results

General Electric
                  

GE Delivers Record Financial Performance in Fourth Quarter 2004, With
18% Revenue Growth, 18% Earnings Growth and $.51 EPS; Full-Year Cash Flow
Increases 18% to $15.2 Billion

GE achieved record fourth-quarter revenues of $43.7 billion, up 18% from fourth
quarter 2003, and record fourth-quarter earnings of $5.4 billion, also up 18%,
the company announced today. Full-year 2004 earnings were $16.6 billion, up 6%
from 2003 earnings before required accounting changes. Cash flow from GE's
operating activities (CFOA) in 2004 increased 18% to $15.2 billion.

'GE had a tremendous fourth quarter and an excellent 2004, as we completed our
strategic repositioning and returned to double-digit earnings growth in the
quarter,' said GE Chairman and CEO Jeff Immelt.

'In the fourth quarter, nine of our 11 businesses delivered double-digit
earnings growth. Industrial sales grew 19%, and our key financial services
businesses ended the year with assets up 20% and improved overall portfolio
quality. Total orders for the quarter increased 15% over last year, with growth
across the board. We are benefiting from strong execution of our growth
initiatives and an excellent global economy.

'For the year, nine of our 11 businesses delivered at least double-digit
earnings growth and we increased CFOA to $15.2 billion. We made major progress
on our portfolio, exceeding our synergy goals for the Amersham and Universal
acquisitions, adding capabilities to our water, security and key financial
services units, and executing several dispositions, including the initial public
offering of Genworth and the sale of 60% of Gecis, our global business
processing operation. Revenues from our growth initiatives -- in services and
our new platforms, such as security and water -- grew 12% and 17% respectively,
and global revenues increased 16%.

'As a result, we're going into 2005 with excellent momentum,' Immelt said. 'We
are very confident about achieving 10-15% earnings growth with strong cash flow
growth and sustaining this growth into 2006 as well.'

GE will discuss preliminary fourth-quarter and full-year results on a conference
call and Webcast to be held 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.

Highlights of preliminary fourth-quarter and full-year 2004 results:

    --  Fourth-quarter earnings were a record $5.378 billion, up 18% from $4.560
        billion in fourth quarter 2003. Earnings per share (EPS) were $.51, up
        13% from last year's $.45. Nine of GE's 11 businesses - Advanced
        Materials, Commercial Finance, Consumer Finance, Consumer & Industrial,
        Equipment & Other Services, Healthcare, Infrastructure, NBC Universal
        and Transportation - contributed double-digit earnings growth. Earnings
        of the Insurance segment declined as a result of increases in loss
        reserves for policies written in prior years and the disposition of
        several businesses.

    --  Fourth-quarter revenues were a record $43.7 billion, up 18% over $37.0
        billion in fourth quarter 2003. Industrial sales increased 19% to $24.6
        billion, reflecting the impact of acquisitions, solid core growth and
        lower sales at GE Energy. Financial services revenues rose 16% over last
        year to $19.2 billion.

    --  Full-year 2004 earnings were a record $16.6 billion, up 6% from $15.6
        billion before required accounting changes in 2003, with EPS of $1.59 up
        3% from last year's comparable $1.55. Nine of GE's 11 businesses
        contributed at least double-digit earnings growth for the year. Net
        earnings for 2004 of $16.6 billion were 11% higher than $15.0 billion in
        2003, which reflected charges of $587 million ($.06 per share) for the
        cumulative effects of required accounting changes to consolidate special
        purpose entities and to record asset retirement obligations. Net 2004
        EPS of $1.59 were up 7% from $1.49 last year.

    --  Full-year revenues grew 14% to $152.4 billion. Industrial sales rose 17%
        to $82.2 billion, reflecting the impact of acquisitions, solid core
        growth and lower sales at GE Energy. Financial services revenues
        increased 10% to $70.8 billion, including the effects of exiting certain
        Insurance businesses.

    --  Cash generated from GE's operating activities in 2004 totaled $15.2
        billion, up 18% from $12.9 billion last year, reflecting a 27% increase
        in CFOA from industrial businesses and lower GE Capital Services
        dividends, due principally to lower proceeds from business dispositions.

'GE is in great shape,' Immelt said. 'We've got great businesses positioned in
the right markets with very strong teams driving powerful initiatives. With a
great pipeline of technology, billions in contractual services agreements, a
rigorous focus on customers and the ability to deliver all of this globally, we
are now focused on driving strong organic growth and delivering consistent
double-digit growth in earnings and cash flow, with expanding returns on
capital.

'This is a great time for GE.'

Fourth Quarter 2004 Business Highlights

Transportation

    --  Received $3.6 billion of new aircraft engine services contracts from
        customers including Ryanair, Emirates and Alaska Airlines, and
        locomotive services agreements worth more than $0.4 billion, including
        the first GE Evolution Series(TM) services contracts.

    --  Received commercial aircraft engine orders totaling $0.6 billion from
        customers including Embraer, Bombardier and Lufthansa.

    --  Received $1.1 billion in Rail orders, including orders for 231
        locomotives, of which 140 are GE Evolution Series locomotives, and the
        first order from the China Ministry of Rail in more than 19 years, for
        locomotives, parts, signaling and train control systems.

    --  Completed more than 4.5 million miles of cumulative active field service
        for Evolution Series pre-production units, with availability at 97%;
        completed preparations and commenced full commercial production in
        January 2005, with a backlog of more than 1,200 units for multi-year
        delivery.

    --  Launched the Engine Exchange program for the CFM56-3 aircraft engine
        under which Transportation provides 'loaner' engines to customers while
        servicing their own.

    --  Completed the first site implementation, at Norfolk Southern Railroad,
        of Rail's Precision Dispatch System, which improves on-time performance
        and enables more efficient use of a railroad's assets.

Healthcare

    --  Increased total orders 25% over fourth quarter 2003 to $4.4 billion,
        driven by 9% growth in services, 15% growth in ultrasound and $0.8
        billion in Biosciences.

    --  Received strong orders for new products, including the Volume CT
        (computed tomography) scanner, the 3T MR (magnetic resonance) scanner,
        and the Vivid I(TM) portable ultrasound.

    --  Signed a $200 million-plus agreement in the U.K. with Fujitsu Services
        Ltd., to provide Picture Archiving and Communication System (PACS)
        technology that will enable the conversion of hospitals and clinics to a
        new digital system for storing, retrieving and displaying patients'
        medical images.

    --  Launched HDMR, the world's first high-definition magnetic resonance (MR)
        system, which provides unprecedented image clarity for patients such as
        Parkinson's sufferers.

    --  Received FDA approval for InSightec's ExAblate 2000, which combines GE's
        MR imaging with focused ultrasound to provide non-invasive treatment of
        uterine fibroids (GE is an equity shareholder in InSightec).

    --  Launched LOGIQBook XP, a 10-lb., full-featured, easy-to-use ultrasound
        system with advanced connectivity that enables clinicians to scan
        patients virtually anywhere -- even in trauma and surgical settings.

Energy

    --  Signed new contractual service agreements totaling $1.1 billion,
        increasing the number of gas turbines covered by 8% and the number of
        sites by 4% since the end of 2003.

    --  Increased orders for oil and gas equipment 34% to $1.5 billion,
        including a $95 million contract for turbines, generator and compressor
        equipment for the latest expansion of the RasGas (II) facility owned by
        Ras Laffan Liquefied Natural Gas Company Ltd. in the State of Qatar.

    --  Shipped 316 wind turbines in the quarter and received orders for 1,243
        1.5-megawatt wind turbines, including the final 100 of a 207-turbine
        order from MidAmerican Energy Company for its 310.5-megawatt project in
        Iowa that, when completed this year, will be among the world's largest
        wind generation facilities.

    --  Signed a letter of intent with Calpine Corporation for the joint
        construction of a power plant based on the 60-Hz H System(TM), GE's most
        advanced gas turbine technology.

    --  Signed a letter of intent with Cinergy/PSI and Bechtel Corporation to
        study the feasibility of constructing a commercial Cleaner Coal(TM)
        generating station.

    --  Received global equipment orders to supply a 1,135-megawatt
        combined-cycle power plant in Mexico, the first installation of GE's
        advanced gas turbine technology in Egypt, and hydroelectric equipment
        for three facilities in China.

    --  Shipped 28 heavy-duty gas turbines from Greenville, S.C., and Belfort,
        France in the quarter compared with 35 in fourth quarter 2003.

Commercial Finance

    --  Expanded its transportation finance capabilities with an agreement to
        acquire $4.2 billion in assets from CitiCapital's Transportation
        Financial Services Group, serving about 49,000 customers across the U.S.
        and Canada and financing approximately 196,000 heavy- and medium-duty
        commercial trucks and trailers.

    --  Through CCE Holdings, a joint venture with Southern Union, completed the
        $2.4 billion acquisition of CrossCountry Energy, the holding company
        formed from Enron's remaining U.S. gas pipelines.

    --  Completed a global vendor financing agreement with Eastman Kodak
        Company's Health Imaging Group, through which the manufacturer will
        offer its customers a full range of GE equipment financing options,
        including operating and capital leases, loans and customized financing
        programs.

    --  Signed an agreement for the restructuring of NMB-Heller, its
        working-capital finance joint venture with ING, under which Commercial
        Finance will buy ING's 50% stake in Heller GmbH, NMB-Heller's German
        unit, broadening its range of financing solutions for German customers
        and increasing its presence in that country.

Consumer Finance

    --  Completed the acquisition of Australian Financial Investments Group
        (including the Wizard Home Loans brand and distribution network),
        strengthening GE's presence in the Australian mortgage industry.

    --  Completed the purchase of substantially all the assets of Dillard's
        National Bank, including its private label credit card business,
        comprising the sixth-largest in-house private label credit card program
        in the United States and adding 5.5 million active card members to
        Consumer Finance's customer base.

    --  Teamed with SAM'S CLUB to launch the new Business All-In-One Card for
        SAM'S CLUB Business Members and Business Plus Members throughout the
        United States.

    --  Launched Kawasaki Motors Retail Finance with Canadian Kawasaki Motors,
        which will allow Kawasaki dealers in Canada to offer consumers special
        credit promotions and long-term financing for motorcycles, ATVs, utility
        vehicles and personal watercraft.

    --  Signed a multi-year agreement to extend its retail credit card program
        with The Men's Wearhouse, representing nearly 700,000 cardholders.

NBC Universal

    --  Garnered a domestic box office total of $225 million in the first four
        weeks of theatrical release with Universal Pictures' Meet the Fockers,
        surpassing the entire box office gross of its predecessor, Meet the
        Parents, by 40%.

    --  Generated $72 million at the domestic box office for Ray, which received
        a Golden Globe nomination for Best Picture and the Golden Globe award
        for Best Actor.

    --  Launched Joey, the quarter's top-ranking new comedy in the key
        demographic of adults 18-49; continued NBC's late-night leadership, with
        Jay Leno and Conan O'Brien leading their respective competitors among
        adults 18-49 by 25% and 57% respectively.

    --  Completed the year with Bravo ranking as the basic cable entertainment
        network with the highest concentration of affluent viewers, and with
        Telemundo ranking as the fastest-growing network for U.S. Hispanics in
        primetime among adults 18-49.

    --  Shipped 70 million DVDs and VHS units in the quarter, led by the
        strength of Van Helsing, The Chronicles of Riddick and The Bourne
        Supremacy.

    --  Launched NBC Weather Plus, the nation's first all-digital broadcast
        network, which provides local weather, news and information around the
        clock.

Infrastructure

    --  Announced two strategic acquisitions -- Ionics, a global leader in
        desalination, and Edwards Systems Technology's fire detection systems
        business -- and completed a third, InVision Technologies, positioning
        Infrastructure for growth in the water and security industries.

    --  Received certification from the U.S. Transportation Security
        Administration of its X-ray diffraction (XRD) system for identifying the
        chemical signatures of explosives on passenger-checked baggage, the
        first new technology certified by the TSA since 1994.

    --  Successfully completed commercial testing for its tamper-evident sea
        container cargo-security system, which uses RFID (radio frequency
        identification) wireless technology embedded in a container's walls to
        determine if it has been breached during transport.

    --  Announced a strategic partnership with China Telecom, the leading
        company in the world's largest telecommunications market, to create a
        new generation of advanced home security technology that will allow
        residents of China to communicate with their homes through the Internet
        and cellular phones.

Advanced Materials

    --  Announced with Goodyear the new Assurance(R) tire, with all-weather
        performance characteristics based on GE's NXT(TM) silane, a liquid
        coupling agent developed by GE scientists.

    --  Introduced AZDEL(TM) Rail-Lite(TM), a breakthrough flame-retardant,
        high-strength composite material using GE's advanced Ultem(TM) resin,
        and announced a joint development agreement with China Railway Long
        Dragon New Composite Materials Co., Ltd. to co-develop AZDEL-based
        components for passenger train interiors as part of China's refurbishing
        of its national railway system for the 2008 Olympics.

Consumer & Industrial

    --  Drove higher sales in the quarter with leadership from new Profile(R)
        appliance launches, energy-saving Ultra(TM) fluorescent lamps, new
        Ultramax(TM) and ProLine(TM) electronic ballast products, improved
        market penetration by Reveal(R) light bulbs and the global strength of
        industrial product sales.

    --  Completed the disposition of its Heating, Ventilation and Air
        Conditioning/Refrigeration Motor and Capacitor operations to
        Regal-Beloit Corporation for $380 million.

GE (NYSE: GE) is a diversified technology, media and financial 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
www.ge.com.

Caution Concerning Forward-Looking Statements

This document contains 'forward-looking statements' - that is, statements
related to future, not past, events. In this context, forward-looking statements
often address our expected future business and financial performance, and often
contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,'
'seeks,' or 'will.' Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. For us, particular uncertainties
arise from the behavior of financial markets, including fluctuations in interest
rates and commodity prices, from future integration of acquired businesses, from
future financial performance of major industries which we serve, including,
without limitation, the air and rail transportation, energy generation and
healthcare industries, from unanticipated loss development in our insurance
businesses, and from numerous other matters of national, regional and global
scale, including those of a political, economic, business, competitive or
regulatory nature. These uncertainties may cause our actual future results to be
materially different than those expressed in our forward-looking statements. We
do not undertake to update our forward-looking statements.

                       GENERAL ELECTRIC COMPANY
                    Condensed Statement of Earnings

                                                     Consolidated
                                              ------------------------
Fourth quarters ended December 31               2004      2003     V%
-------------------------------------------   --------- --------- ----
Revenues
Sales of goods and services                    $25,334   $21,144
Earnings of GECS                                     -         -
GECS revenues from services                     17,959    15,627
Other income                                       413       193
                                              --------- ---------
Total revenues                                  43,706    36,964   18%
                                              --------- ---------

Costs and expenses
Cost of sales, operating and administrative
 expenses                                       28,277    23,612
Interest and other financial charges             3,404     2,823
Insurance losses and policyholder and
 annuity benefits                                4,437     3,960
Provision for losses on financing
 receivables                                     1,144       953
Minority interest in net earnings of
 consolidated affiliates                           389        91
                                              --------- ---------
Total costs and expenses                        37,651    31,439   20%
                                              --------- ---------

Earnings before income taxes                     6,055     5,525
Provision for income taxes                        (677)     (965)
                                              --------- ---------
Net earnings                                    $5,378    $4,560   18%
                                              ========= =========

Per-share amounts
Diluted earnings per share                       $0.51     $0.45   13%
Diluted number of shares                        10,626    10,105

Basic earnings per share                         $0.51     $0.45   13%
Basic number of shares                          10,580    10,053

Dividends declared per share                     $0.22     $0.20

                                                  Financial Services
                              GE                        (GECS)
                    ------------------------  ------------------------
Fourth quarters                                                  
 ended December 31    2004      2003     V%     2004      2003     V%
------------------  --------- --------- ----  --------- --------- ----
Revenues
Sales of goods and
 services            $24,572   $20,581            $830      $646
Earnings of GECS       2,387     2,275               -         -
GECS revenues from
 services                  -         -          18,321    15,872
Other income             416       187               -         -
                    --------- ---------       --------- ---------
Total revenues        27,375    23,043   19%    19,151    16,518   16%
                    --------- ---------       --------- ---------

Costs and expenses
Cost of sales,
 operating and
 administrative
 expenses             20,813    17,388           7,720     6,425
Interest and other
 financial charges       336       236           3,180     2,708
Insurance losses and
 policyholder and
 annuity benefits          -         -           4,502     3,960
Provision for losses
 on financing
 receivables               -         -           1,144       953
Minority interest in
 net earnings of
 consolidated
 affiliates              247        58             142        33
                    --------- ---------       --------- ---------
Total costs and
 expenses             21,396    17,682   21%    16,688    14,079   19%
                    --------- ---------       --------- ---------

Earnings before
 income taxes          5,979     5,361           2,463     2,439
Provision for income
 taxes                  (601)     (801)            (76)     (164)
                    --------- ---------       --------- ---------
Net earnings          $5,378    $4,560   18%    $2,387    $2,275    5%
                    ========= =========       ========= =========

Dollar amounts and share amounts in millions; per-share amounts in dollars;
unaudited. Supplemental consolidating data are shown for 'GE' and 'Financial
Services (GECS).' Transactions between GE and GECS have been eliminated from the
'consolidated' columns. See note 1 to the consolidated financial statements in
the 2003 Annual Report to Shareowners for further information about
consolidation matters.

                       GENERAL ELECTRIC COMPANY
                    Condensed Statement of Earnings

                                                     Consolidated
                                              ------------------------
Years ended December 31                         2004      2003     V%
-------------------------------------------   --------- --------- ----
Revenues
Sales of goods and services                    $84,706   $72,354
Earnings of GECS before accounting changes           -         -
GECS revenues from services                     66,594    61,231
Other income                                     1,063       602
                                              --------- ---------
Total revenues                                 152,363   134,187   14%
                                              --------- ---------

Costs and expenses
Cost of sales, operating and administrative
 expenses                                       99,907    83,027
Interest and other financial charges            11,907    10,825
Insurance losses and policyholder and
 annuity benefits                               15,627    16,369
Provision for losses on financing
 receivables                                     3,888     3,752
Minority interest in net earnings of
 consolidated affiliates                           928       310
                                              --------- ---------
Total costs and expenses                       132,257   114,283   16%
                                              --------- ---------

Earnings before income taxes and accounting
 changes                                        20,106    19,904
Provision for income taxes                      (3,513)   (4,315)
                                              --------- ---------
Earnings before accounting changes             $16,593   $15,589    6%
Cumulative effect of accounting changes              -      (587)
                                              --------- ---------
Net earnings                                   $16,593   $15,002   11%
                                              ========= =========

Per-share amounts before accounting changes
Diluted earnings per share                       $1.59     $1.55    3%
Diluted number of shares                        10,445    10,075

Basic earnings per share                         $1.60     $1.56    3%
Basic number of shares                          10,400    10,019

Per-share amounts after accounting changes
Diluted earnings per share                       $1.59     $1.49    7%
Diluted number of shares                        10,445    10,075

Basic earnings per share                         $1.60     $1.50    7%
Basic number of shares                          10,400    10,019

Dividends declared per share                     $0.82     $0.77

                                                  Financial Services
                              GE                        (GECS)
                    ------------------------  ------------------------
Years ended
 December 31          2004      2003     V%     2004      2003     V%
------------------  --------- --------- ----  --------- --------- ----
Revenues
Sales of goods and
 services            $82,214   $70,442          $2,840    $2,228
Earnings of GECS
 before accounting
 changes               8,161     7,754               -         -
GECS revenues from
 services                  -         -          67,936    62,051
Other income           1,076       645               -         -
                    --------- ---------       --------- ---------
Total revenues        91,451    78,841   16%    70,776    64,279   10%
                    --------- ---------       --------- ---------

Costs and expenses
Cost of sales,
 operating and
 administrative
 expenses             71,368    59,273          29,581    24,555
Interest and other
 financial charges       979       941          11,372    10,262
Insurance losses and
 policyholder and
 annuity benefits          -         -          15,844    16,369
Provision for losses
 on financing
 receivables               -         -           3,888     3,752
Minority interest in
 net earnings of
 consolidated
 affiliates              538       181             390       129
                    --------- ---------       --------- ---------
Total costs and
 expenses             72,885    60,395   21%    61,075    55,067   11%
                    --------- ---------       --------- ---------

Earnings before
 income taxes and
 accounting changes   18,566    18,446           9,701     9,212
Provision for income
 taxes                (1,973)   (2,857)         (1,540)   (1,458)
                    --------- ---------       --------- ---------
Earnings before
 accounting changes  $16,593   $15,589    6%    $8,161    $7,754    5%
Cumulative effect of
 accounting changes        -      (587)              -      (339)
                    --------- ---------       --------- ---------
Net earnings         $16,593   $15,002   11%    $8,161    $7,415   10%
                    ========= =========       ========= =========

Dollar amounts and share amounts in millions; per-share amounts in dollars;
unaudited. Supplemental consolidating data are shown for 'GE' and 'Financial
Services (GECS).' Transactions between GE and GECS have been eliminated from the
'consolidated' columns. See note 1 to the consolidated financial statements in
the 2003 Annual Report to Shareowners for further information about
consolidation matters.

Summary of Operating Segments (unaudited)
General Electric Company and Consolidated Affiliates

                           Three Months Ended   
                                December 31     Year Ended December 31
                           -------------------- ----------------------
(Dollars in millions)         2004    2003  V%      2004     2003  V%
                           -------------------- ----------------------

Revenues
Advanced Materials          $2,322  $1,920  21    $8,290   $7,078  17
Commercial Finance           6,338   5,652  12    23,489   20,813  13
Consumer Finance             4,304   3,541  22    15,734   12,845  22
Consumer & Industrial        3,757   3,457   9    13,767   12,843   7
Energy                       5,252   5,708  (8)   17,348   19,082  (9)
Equipment & Other Services   2,490   1,115    F    8,483    4,427  92
Healthcare                   4,259   3,320  28    13,456   10,198  32
Infrastructure                 952     845  13     3,447    3,078  12
Insurance                    6,019   6,210  (3)   23,070   26,194 (12)
NBC Universal                4,341   1,928    F   12,886    6,871  88
Transportation               4,477   3,991  12    15,562   13,515  15
Corporate items and
 eliminations                 (805)   (723)(11)   (3,169)  (2,757)(15)
                           ----------------     ------------------

Consolidated revenues      $43,706 $36,964  18  $152,363 $134,187  14
                           ================     ==================

Segment profit (a)
Advanced Materials            $247    $201  23      $710     $616  15
Commercial Finance           1,289   1,148  12     4,465    3,910  14
Consumer Finance               637     506  26     2,520    2,161  17
Consumer & Industrial          200     152  32       716      577  24
Energy                         922   1,168 (21)    2,845    4,109 (31)
Equipment & Other Services     475     143    F      607     (419)   F
Healthcare                     860     572  50     2,286    1,701  34
Infrastructure                 170     131  30       563      462  22
Insurance                      (14)    478    U      569    2,102 (73)
NBC Universal                  860     536  60     2,558    1,998  28
Transportation                 993     815  22     3,213    2,661  21
                           ----------------     ------------------
Total segment profit         6,639   5,850  13    21,052   19,878   6

GE corporate items and                                               
 eliminations                 (324)   (253)(28)   (1,507)    (491)  U
GE interest and other
 financial charges            (336)   (236)(42)     (979)    (941) (4)
GE provision for income
 taxes                        (601)   (801) 25    (1,973)  (2,857) 31
                           ----------------     ------------------

Earnings before accounting
 changes                     5,378   4,560  18    16,593   15,589   6

Cumulative effect of
 accounting changes                                    -     (587)
                           ----------------     ------------------

Consolidated net earnings   $5,378  $4,560  18   $16,593  $15,002  11
                           ================     ==================

(a) Segment profit always excludes the effects of principal pension
    plans and accounting changes, and may exclude matters such as
    charges for restructuring; rationalization and other similar
    expenses; in-process research and development and certain other
    acquisition-related charges; certain gains/losses from
    dispositions; and litigation settlements or other charges,
    responsibility for which precedes the current management team.
    Segment profit excludes or includes interest and other financial
    charges and segment income taxes according to how a particular
    segment management is measured - excluded in determining operating
    profit for Advanced Materials, Consumer & Industrial, Energy,
    Healthcare, Infrastructure, NBC Universal, and Transportation, but
    included in determining net earnings for Commercial Finance,
    Consumer Finance, Equipment & Other Services, and Insurance.

Condensed Statement of Financial Position
General Electric Company and consolidated affiliates

(Dollars in billions)
                                     Consolidated       
                                ----------------------  
Assets                           12/31/04    12/31/03   
                                ---------- -----------  
Cash & marketable securities     $150.8    $135.0       
Receivables                        14.2      10.7       
Inventories                         9.8       8.8       
GECS financing receivables - net  282.5     247.9       
Plant & equipment - net            63.3      53.4       
Investment in GECS                    -         -       
Goodwill & intangible assets       83.5      55.0       
Other assets                      146.2     136.7       
                                --------   -------      

Total assets                     $750.3    $647.5       
                                ========   =======      

Liabilities and equity
Borrowings                       $370.9    $329.7       
Insurance reserves                140.6     136.3       
Other liabilities & minority
 interest                         128.5     102.3       
Shareowners' equity               110.3      79.2       
                                --------   -------      

Total liabilities and equity     $750.3    $647.5       
                                ========   =======      

(Dollars in billions)
                                                   Financial Services
                                        GE             (GECS)
                                --------------------------------------
Assets                          12/31/04 12/31/03   12/31/04 12/31/03
                                ------------------ -------------------
Cash & marketable securities       $3.5      $2.0    $147.5    $133.2
Receivables                        14.5      11.0         -         -
Inventories                         9.6       8.6       0.2       0.2
GECS financing receivables - net      -         -     282.5     247.9
Plant & equipment - net            16.7      14.6      46.6      38.8
Investment in GECS                 53.8      45.3         -         -
Goodwill & intangible assets       54.7      30.2      28.8      24.8
Other assets                       38.2      30.4     112.7     109.6
                                -------- --------- --------- ---------

Total assets                     $191.0    $142.1    $618.3    $554.5
                                ======== ========= ========= =========

Liabilities and equity
Borrowings                        $11.0     $10.9    $361.3    $320.3
Insurance reserves                    -         -     140.9     136.3
Other liabilities & minority
 interest                          69.7      52.0      62.3      52.6
Shareowners' equity               110.3      79.2      53.8      45.3
                                -------- --------- --------- ---------

Total liabilities and equity     $191.0    $142.1    $618.3    $554.5
                                ======== ========= ========= =========

December 31, 2004 information is unaudited. Supplemental consolidating data are
shown for 'GE' and 'Financial Services (GECS).' Transactions between GE and GECS
have been eliminated from the 'consolidated' columns. See note 1 to the
consolidated financial statements in the 2003 Annual Report to Shareowners for
further information about consolidation matters.

Financial Measures That Supplement GAAP
----------------------------------------------------------------------
General Electric Company and Consolidated Affiliates

We sometimes refer to data derived from consolidated financial information but
not required by GAAP to be presented in financial statements. Certain of these
data are considered 'non-GAAP financial measures' under SEC regulations.
Specifically, we have referred to the increase in Industrial CFOA in 2004.
Reconciliation of this non-GAAP financial measure to the most directly
comparable GAAP financial measure - cash from operating activities - follows.

(Dollars in millions)
                                                YEAR ENDED DECEMBER 31
                                                ----------------------
                                                   2004     2003   V%
                                                -------- --------  ---

Cash from GE's operating activities as reported $15,204  $12,925
Less: GECS dividends                              3,105    3,435
                                                -----------------
Cash from GE's operating activities excluding
 dividends from GECS (Industrial CFOA)          $12,099   $9,490   27%
                                                =================

We believe that meaningful analysis of our financial performance requires an
understanding of the factors underlying that performance and our judgments about
the likelihood that particular factors will repeat. In some cases, short-term
patterns and long-term trends may be obscured by large factors or events. For
example, events or trends in a particular segment may be so significant as to
obscure patterns and trends of our industrial or financial services businesses
in total. For this reason, we believe that investors may find it useful to
compare our cash flow from operating activities for 2004 against 2003 without
the impact of GECS dividends, which included proceeds from the Genworth initial
public offering in 2004 and other business dispositions in 2004 and 2003.

General Electric, Fairfield
David Frail, 203-373-3387
[e-mail]