Forty Percent Stake in Ireland's Newest, Highly Efficient Power Plant to Be Acquired by GE Energy Financial Services

GE Energy Financial Services is acquiring the stake in the400-megawatt Tynagh power plant in County Galway from GAMAConstruction Ireland Ltd, part of GAMA Holding AS. GAMA retains a 40percent interest in the plant, which commenced operations in March2006. GAMA, working in a joint venture with General ElectricInternational, began construction of the plant in March 2004. Theconstruction period was one of the shortest to date worldwide for thishighly efficient technology.

"We are very pleased to be investing in Tynagh Energy. Tynagh is afirst class project which benefits from state of the art equipment, asupportive contractual structure and experienced operators," said AlexUrquhart, President and CEO of GE Energy Financial Services. AndrewMarsden, Managing Director of GE Energy Financial Services' Europeanoperations, added: "The Tynagh power plant is one of the mosttechnologically advanced and efficient power plants in the Republic ofIreland and as such this pending acquisition makes an excellent fitwith our strategy to invest in high quality energy assets withexperienced counterparties."

Hakan Ozman, Strategic Planning & Finance Group President andBoard Member of GAMA Holding AS, said: "We are pleased to achieve thesuccessful commercial operation of Tynagh Power Plant in a shortperiod of time. It was our intention from the outset of this projectto reduce GAMA's ownership in Tynagh to the 40 percent level bybringing in a high quality investment partner once construction wascompleted. We are delighted to welcome GE Energy Financial Services asour partner in the Tynagh project."

Tynagh Energy is the result of a successful tender for acompetition run by the Commission for Energy Regulation (CER) inDecember 2003 to design, finance, construct, operate and maintain a400MW Combined Cycle Power Plant in the Republic of Ireland. TheTynagh power plant, Galway's first, will meet approximately tenpercent of the Irish market demand.

The plant uses advanced GE F-class combined cycle technology,including a 9FA gas turbine, the new GE A15 High Efficiency AdvancedTechnology ("HEAT(TM)") steam turbine and a GE 9A5 generator.Maintenance of the gas and steam turbines is covered under long-termservice agreements with General Electric International, Inc. Day today operation of the plant is undertaken by RWE npower plc. The plantis strategically located near 400-kilovolt and 220-kilovolttransmission lines at a non-constrained electrical grid connectionpoint and a major natural gas pipeline, part of the Bord Gais Eireannnetwork.

Financial details relating to the transaction were not disclosed.

About GE Energy Financial Services

GE Energy Financial Services, based in Stamford, Connecticut USA,with European operations based in London, invested $3 billion in theworld's most capital-intensive industry, energy, in 2005. With morethan $12 billion in assets, GE Energy Financial Services offersstructured equity, leveraged leasing, partnerships, project financeand broad-based commercial finance to the global energy industry fromwellhead to wall socket. For more information, visitwww.geenergyfinancialservices.com.

About GE

GE (NYSE: GE) is Imagination at Work -- a diversified technology,media and financial services company focused on solving some of theworld's toughest problems. With products and services ranging fromaircraft engines, power generation, water processing and securitytechnology to medical imaging, business and consumer financing, mediacontent and advanced materials, GE serves customers in more than 100countries and employs 2,500 people in the Republic of Ireland and morethan 300,000 people worldwide. For more information, visit www.ge.com.

About GAMA

Gama Construction Ireland Limited is a member of the Gama group.Gama was established in Turkey in 1959 and specialises in the turnkeyconstruction of major industrial plants, power generation plants,pipelines and civil projects. In the power industry, Gama's work overthe past 20 years represents a total capacity of over 12,000 MW ofpower generation. Gama was an active participant in Turkey's firstmajor Build Operate Transfer (BOT) projects as contractor andinvestor. Gama currently owns equity in four power plants and a watersupply utility. For more information, visit www.gama.com.tr

Editors - Caption for photo accompanying this release: An aerialview of 400-megawatt Tynagh power plant in County Galway, Republic ofIreland, in which GE Energy Financial Services will acquire a 40percent interest. The highly efficient, natural gas-fired Tynagh powerplant, Galway's first, will meet approximately ten percent of theIrish market demand using advanced GE combined cycle technology.