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GE Aircraft Engines Delivers Industrial Cooperation In The Czech Republic

February 11, 2002

EVENDALE, OHIO -- GE Aircraft Engines (GEAE) confirmed today that it has made significant progress in developing an effective Industrial Cooperation Program business plan in support of the Multi-Role Gripen Fighter contract for the Czech Republic.

Following Czech Republic's announcement in December 2001 to enter final contract negotiations with Saab-BAe Systems for the JAS 39 Gripen Multi-Role Fighter, GEAE is well advanced with initiatives for developing mutually beneficial programs with Czech Industry in support of the Fighter tender.

GEAE continues to build upon its track record of successful industrial cooperation programs around the world by implementing an offset program in the Czech Republic. As part of its commitment, GEAE's potential projects outlined in support of Saab/BAE Systems' Gripen Fighter Program are intended to produce results that will yield benefits beyond the completion of the industrial cooperation program.

"GE has over 40 years of offset experience and over $6 billion of delivered commitments to Governments world-wide," said Petr Smida, GE's National Executive for the Czech Republic. "GE's ability to deliver on its offset commitments is unparalleled in the industry. As the world's leading producer and service provider of gas turbine engines, GEAE is able to draw upon vast resources and state-of-the-art technologies to ensure its offset commitments are met," said Smida.

GEAE co-produces the RM12 engine with Volvo Aero Corp of Sweden that will power the Czech Republic's fleet of JAS 39 Gripen Multi-Role Fighters.

GE Aircraft Engines, a division of General Electric Company (NYSE: GE), is the world's leading manufacturer of jet engines for civil and military aircraft, including engines produced by CFM International, a 50/50 joint company of Snecma of France and GE. GEAE also manufactures gas turbines, derived from its highly successful jet engine programs, for marine and industrial applications. In addition, GEAE provides comprehensive maintenance support, through its GE Engine Services operation, for GE and non-GE jet engines in service throughout the world. Visit GEAE online at http://www.geae.com.