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GE TO OPEN NEW TECHNOLOGY CENTER IN NEW ORLEANS

February 17, 2012

Will hire 300 information technologists focused on driving innovation,
speed, and commercialization of financial solutions at GE Capital

NORWALK, Conn. – February 17, 2012 - GE (NYSE: GE) today announced that it will open the GE Capital Technology Center in New Orleans, Louisiana. The center is expected to grow to 300 information technology professionals over the next three years, and focus on developing innovative new software, processes and technologies to drive excellence for its financial services business, GE Capital. This commitment builds on the GE Works event held earlier this week in Washington, DC, where the Company announced 400 new Aviation jobs in the U.S. and a number of programs to promote economic growth in the U.S.

“New Orleans has many of the things we need to build a center – a great location, talent, and an attractive business environment,” Brackett Denniston, GE’s senior vice president and general counsel, said. “These are high value, skilled jobs that will help us effectively respond to increasing demand in our financial services business, and better support GE Capital’s future growth by developing and deploying innovative technologies to make our businesses even more productive and competitive.”

“Information technology is a critical part of how we compete in the marketplace and support our key stakeholders,” said Martha Poulter, vice president and chief information officer (CIO) for GE Capital. “The New Orleans Technology Center, a first for GE Capital, will be a valuable asset for the business, giving us more capabilities and new talent to win.”

While hiring for the center will not begin until 2Q, interested candidates can go to www.ge.com/careers/ge_capital_technology_center.html for the latest information.

Louisiana Governor Bobby Jindal said, “Our unparalleled quality of life, New Orleans’ rapidly growing technology sector and our commitment to build the best economy of the future, right here in Louisiana, attracted GE Capital and brought this project to our state. With today’s announcement, Louisiana is continuing to prove our mettle in the software development world, the information sector and the corporate world. The bottom line is that we will not rest until Louisiana is known as a major hub of corporate headquarters and software and technology centers of excellence.”

“I’m really pleased to have worked side-by-side with folks at GE and state officials for several months to make these jobs a reality,” U.S. Senator David Vitter (R-LA) said. “Today’s decision by GE is further confirmation of the growth potential for the tech sector in Louisiana and a testament to the facilities and talent available in the region. These are good jobs that will be filled by a ready and capable workforce, and they’ll be a significant boon to our local economy.”

New Orleans Mayor Mitch Landrieu said, "GE's decision to bring 300 new, high-tech jobs to New Orleans is major coup for our city. GE is an international business leader, and this announcement is a decisive show of confidence in our city's business climate. I look forward to having a community partner here like GE that is rooted in renewing and strengthening our country's global competitiveness through innovation and manufacturing. This project adds to the momentum we have seen locally and is a product of the unmatched coordination and partnership between the city, the state, and local economic development agencies and private businesses including GNO, Inc., the New Orleans Business Alliance, and Ochsner."

“The leadership demonstrated by Mayor Mitch Landrieu proved to GE that New Orleans has the talented IT workforce needed to make this new technology center successful,” said U.S. Senator Mary Landrieu (D-LA). “This investment will help with recruitment efforts with high tech firms, build our IT workforce and help raise New Orleans’ profile as an IT corridor. It will further highlight our work in the aerospace sector and position our region for continued growth in the digital media and movie industries. I am proud to be a part of the team that brought this center to New Orleans.”

This center, which is expected to open in mid-2012, is just one of several examples of GE investing in America and creating jobs.

Today’s announcement in New Orleans is part of a three-year trend of GE investing in technology centers in important American cities, similar to New Orleans, across the country. In Detroit, GE opened the Advanced Manufacturing and Software Technology Center that employs roughly 800 information technologists and will bring 1,100 jobs to Michigan by 2013. In Richmond, Virginia, GE opened the Information Security Technology Center that will house 200 hi-tech IT security professionals. In San Ramon, California, GE’s Global Software Center will hire 400 software professionals focused on increasing the pace of innovation, collaboration and commercialization of new technologies.

In 2011 alone, GE announced the creation of over 8,000 new U.S. jobs and today’s commitment brings total new U.S. job announcements since 2009 to over 13,500. GE’s ongoing job creation, including previously announced plans to build 16 U.S. factories, will provide sustained U.S. job growth in 2012 and beyond.

Earlier in the week, GE announced plans to invest in a number of additional job creation projects and economic development programs:

· Launching pilot programs with partners to improve healthcare delivery in Louisville, KY, and Erie, PA, to achieve better health at lower costs in each community. This follows a successful program in Cincinnati that has resulted in significantly lower costs for both local employers and providers while improving access and maintaining quality care.

· Hiring 5,000 U.S. veterans over the next five years and sponsoring a “Hire our Heroes” partnership with the U.S. Chamber of Commerce to help veterans integrate into the civilian workforce and match them to jobs.

· Opening several manufacturing skill-building centers called “GE Garages” to spark interest in skills for jobs and partnering with GOOD/Corps on the What Works Project, a new interactive platform to highlight what works by inviting the public to submit stories, images or video depictions of what is currently driving American competitiveness. The project will award up to $10,000 each week through November to selected non-profit organizations that support American jobs and skills training.

· Doubling the number of GE engineering interns to more than 5,000 as part of an initiative proposed by the President’s Council on Jobs and Competitiveness to add 10,000 more engineering graduates a year in the U.S.

For the latest about GE’s job creation in the U.S., please go to:

http://www.gereports.com/ges-american-jobs-map-over-10000-new-jobs-announced-since-2009/

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About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges.Finding solutions in energy, health and home, transportation and finance.Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Capital

GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, retail sales finance programs, home, car and personal loans and credit insurance. For more information, visit gecapital.com or follow company news via Twitter @GECapital.

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Russell Wilkerson
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Russell Wilkerson
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GE Capital, Managing Director of Communications and Public Affairs
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