Acquisition

General Electric Company
15 April 2002



                           NBC COMPLETES ACQUISITION

                    OF TELEMUNDO COMMUNICATIONS GROUP, INC.



NEW YORK, April 12, 2002 - NBC today completed its acquisition of Telemundo
Communications Group, Inc. The deal, valued at $2.7 billion, was announced last
October. The acquisition gives NBC ownership of the Telemundo Network, a 24-hour
Spanish-language network reaching 90% of the Hispanic population, 11 full-power
owned-and-operated stations, and two growing cable networks, Mun2 and Telemundo
Internacional.

The acquisition is the largest in the history of NBC, a division of General
Electric. Telemundo was privately held by Sony Pictures Entertainment, Liberty
Media and a consortium of financial investors. Under terms of the transaction,
equity is valued at $1.98 billion, which was paid in cash. NBC assumes debt
estimated at $700 million.

'This transaction represents NBC's strong commitment to growing our network
business and serving the needs of the booming Hispanic market,' said Bob Wright,
Vice Chairman of General Electric and Chairman and CEO of NBC. 'Not only is this
the largest acquisition by NBC, it is one of the biggest commitments made by any
corporation to the dynamic Hispanic population.'

'We expect great things from this partnership,' said Andrew Lack, President and
COO of NBC. 'The combined talent and resources of our two networks creates
tremendous programming opportunities. Clearly, the biggest beneficiaries of this
collaboration are the viewers.'

Telemundo will continue under the leadership of CEO Jim McNamara, formerly CEO
of New World Entertainment and President of Universal TV. McNamara assumed the
position with Telemundo in July 1999 and will report to Lack. Alan Sokol, who
joined Telemundo from Sony Pictures in 1998, continues as COO.

'On behalf of the 1,900 Telemundo employees in the U.S. and Puerto Rico, we are
thrilled to become part of the NBC family,' said McNamara. 'NBC offers
tremendous resources to help us fulfill our vision of making Telemundo a
powerful force in Spanish-language broadcasting.'

Telemundo is the country's fastest-growing U.S. Spanish-language network. Last
year, network ad sales grew by 25%. Network assets acquired by NBC under this
agreement include:



  • The national Telemundo network, a 24-hour Spanish language network serving
    86 markets, reaching 90% of total Hispanic TV Households
  • Ten full-power owned-and-operated stations in top Hispanic U.S. DMAs


                    -     Los Angeles (2)/KVEA & KWHY

                    -     New York/WNJU

                    -     Miami-Fort Lauderdale/WSCV

                    -     Houston/KTMD

                    -     Chicago/WSNS

              • Dallas-Fort Worth/KXTX


                    -     San Francisco-San Jose/KSTS

                    -     San Antonio/KDVA

              • Denver/KMAS
  • The number one station in Puerto Rico/WKAQ
  • Affiliations with 40 broadcast stations
  • Two growing cable networks: Mun2, the nation's No. 2 Hispanic cable
    network, which targets young Hispanic viewers, and Telemundo Internacional,
    with a focus on news, information and reality programming. Together they
    have 8 million U.S. Hispanic and Latin American subscribers.

The nation's first broadcast network, NBC has evolved into a diverse,
international media company. In addition to the NBC Television Network and 13
television stations, the company owns CNBC, operates MSNBC in partnership with
Microsoft, and maintains equity interests in Arts & Entertainment, the History
Channel, and Rainbow Media Holdings, Inc. In addition, NBC owns equity stakes in
several new media companies. International holdings include CNBC Europe and CNBC
Asia, which are services of NBC and Dow Jones, and an equity position in
National Geographic Channels International.



Media Contacts:     Cory Shields, NBC Corporate Communications, 212/664-3457

               Hilary Smith, NBC Corporate Communications, 212/664-2617







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