Formal Notice

General Electric
                  

 General Electric Partners With Leading Investors To Transform Gecis,
 its Global Business Processing Operation, into an Independent Company

    Move Will Enable Gecis to Pursue Global Demand for BPO Services

General Electric today announced it has entered into a definitive agreement with
two leading private-investment firms, General Atlantic Partners and Oak Hill
Capital Partners, under which the firms will acquire a majority interest in GE
Capital International Services (Gecis), GE's global business-processing
operation.

Gecis already is one of the largest shared-service providers in the world,
employing more than 17,000 professional staff. As a recapitalized, independent
company, Gecis will be well positioned to offer its high-quality
business-processing services to companies in the Americas, Europe, and Asia,
where it already has operations. Gecis will continue to serve GE under a
multiyear contract, and Pramod Bhasin will remain as president and chief
executive officer, supported by the current Gecis global management team.
Approximately 1,000 Gecis employees will remain with GE.

The transaction, subject to customary approvals, values Gecis at $800 million.
Upon closing, GE will retain a 40 percent stake in Gecis and receive cash
proceeds of approximately $500 million, which it plans to use to fund growth
initiatives. The parties aim to complete the transaction some time in the next
six months.

'This transaction allows us to offer our quality business-process services to an
expanding roster of leading companies worldwide,' Bhasin said in making today's
announcement. 'With accelerated growth, Gecis will provide expanded
opportunities for employees and increased value for shareholders. We look
forward to our continued relationship with GE - as a valued client, continuing
shareholder, and key partner - to help build Gecis into the undisputed global
leader in technology-enabled business-process services.'

Bhasin said General Electric's decision to commercialize Gecis was driven by the
opportunity to realize significant value from Gecis' scale and to broaden its
global offerings by meeting the needs of other potential clients, many of which
have expressed strong interest in partnering with Gecis to make their global
operations more efficient.

GE Chairman and CEO Jeff Immelt commended Gecis' global operations. 'Gecis
pioneered and set the standard for high-quality business processing around the
world,' he said. 'We have built a great team. We look forward to being their
continued customer and to seeing their dreams realized as they embark on this
new and exciting path ahead.'

Established in 1997 to provide internal business support for GE, Gecis has built
global operating capabilities supporting nearly 1,000 business processes across
each of GE's 11 business units, including critical finance and accounting,
supply-chain management, customer-service support, software development, data
modeling and analytics activities. Gecis' sophisticated IT-enabled operations
include fully staffed facilities in North America, Europe, India, and China.
Bhasin said Gecis provides its services in 19 languages and is highly
experienced in recruiting talent and managing operations in each of these
markets. He added that Gecis expects to continue building global delivery
systems in new regions of the world.

'Gecis is a powerhouse organization that is well capitalized with an expanding
footprint,' said Oak Hill Managing Partner J. Taylor Crandall. 'Gecis has a
clear strategy and a compelling business proposition: the ability to perform
value-creating business processes for companies, making them more productive and
allowing them to focus on their core competencies.'

Mark F. Dzialga, a partner with General Atlantic, said, 'The market for process
outsourcing continues to experience tremendous growth. By serving GE's
businesses with expertise in a diverse range of industry verticals, Gecis has
acquired unmatched capability that makes it a highly attractive partner to
companies worldwide. As experienced investors in information technology and
technology-enabled services, we look forward to working with Gecis' outstanding
management and contributing to their continued success.'

General Atlantic and Oak Hill, both leading global investors, are equal partners
in this transaction.

Gecis has already begun delivering its commitment to quality, built on Six Sigma
methodologies, to other major companies. It will accelerate its third-party
sales, marketing and delivery capability to significantly expand its client
base, especially in China and Eastern Europe, where it began operating two years
ago.

GE has been in India since 1902, when it installed India's first hydroelectric
power plant. Today, all 11 of GE's global businesses have a presence in India -
from aircraft engines and power generation, to consumer and commercial
financing, medical imaging, television programming and plastics, plus joint
ventures with Wipro, State Bank of India, Maruti, and HDFC. GE revenues and
orders in India exceeded $1 billion in 2003, and employment, including Gecis, is
more than 22,000. In 2000, GE opened the John F. Welch Technology Centre in
Bangalore. The 545,000 sq. ft. laboratory employs more than 2,200 scientists,
researchers, and engineers and who work daily to develop technology innovations
for GE businesses.

'GE is strongly committed to India,' said Immelt. 'India is an important market
for GE, and we have a tremendously talented workforce there. We look forward to
a continued partnership with Gecis while growing our technical resources and
businesses in India.'

GE (NYSE: GE), based in Fairfield, CT, 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 310,000 people worldwide.

Gecis is a global leader in high-quality business-process services, built with
Six Sigma rigor. Gecis was established to serve GE's business units and supports
nearly 1,000 processes at GE. As an independent company, Gecis continues to
offer world-class expertise in areas including finance and accounting,
supply-chain management, customer-service support and data modeling and
analytics to clients globally. Gecis is headquartered near Delhi in Gurgaon,
India, and has operations centers in China, Hungary, India and Mexico and
employees across North America and Western Europe.

General Atlantic Partners, LLC, is one of the world's leading direct investment
firms focused on investing globally in companies providing or using IT in ways
that significantly transform the value proposition. GA's investment focus in IT
includes providers of IT, IT-related services and users of IT in traditional
industries such as healthcare, finance and government. The firm was founded in
1980 and has over $5 billion in capital under management. General Atlantic has
invested in over 130 IT companies and has current holdings in over 50 companies,
of which almost one-third are based outside the United States. The firm is
distinguished within the investment community by its deep experience and
expertise in information technology, its global perspective and worldwide
presence, its long-term approach to investments, and its commitment to provide
sustained strategic assistance for its portfolio companies. General Atlantic has
nearly 70 investment professionals among its 130 employees worldwide with
offices in Greenwich, New York, Palo Alto, Washington, D.C., London, Dusseldorf,
Singapore, Tokyo, Mumbai, Hong Kong, and Sao Paulo. See www.gapartners.com for
additional information.

Oak Hill Capital Partners, L.P. is a private equity firm in which Robert M. Bass
is the lead investor. The investment team at Oak Hill has invested in over 50
private equity transactions including American Savings Bank (Washington Mutual),
Bell & Howell (Proquest), Wometco Cable Corporation, Williams Scotsman, Stage
Stores and Oreck Corporation. Recent investments from their current $1.6 billion
buyout fund include Align Technology, TravelCenters of America, WideOpenWest,
Blackboard, and Caribbean Restaurants. Oak Hill Capital Partners, L.P. is one of
the Oak Hill partnerships, each of which has a dedicated management team. In
total, the Oak Hill partnerships manage over $10 billion of assets across
multiple asset classes, representing capital from leading entrepreneurs,
endowments, foundations, corporations, pension funds, and global financial
institutions.

    CONTACT: GE
             David Frail, 1-203-373-3387
             or
             GECIS
             David Jensen, 1-203-961-2281
             or
             General Atlantic Partners
             Patricia Hedley, 1-203-629-8658
             or
             Oak Hill Capital Management
             Abernathy MacGregor
             Rhonda Barnat, 1-212-371-5999
             or
             GE India
             Purnima SahniMohanty, 91-98-1052-9368