Paris, November 28th, 2005: Bail Investissement has agreed the acquisition from CGW SAS of its subsidiary, Technical SAS, owner of a portfolio of 207 mixed-use properties leased to France Telecom.

GE Commercial Finance Real Estate France (GE), one of the 3 CGW shareholders, and Bail Investissement will sign a memorandum of understanding, to enable GE to retain an interest in the portfolio. To this end, GE will purchase mandatory convertible bonds issued by Technical, which will in time give it a direct stake in the portfolio of 32.5%.

As a result of a shareholding agreement signed with Foncière des Régions in December 2004, GE and Foncière des Régions hold respectively 26% and 37% of Bail Investissement’s capital.

François Trausch, President of GE, commented: " We are extremely pleased by this transaction which will allow us in due course to increase our total interest in the Technical portfolio. This transaction is part of our partnership with Groupe Foncière des Régions who, like GE, already has extensive knowledge of the assets leased by France Telecom."

Simultaneously, Bail Investissement has published a press release detailing the transaction and the assets involved.


Notes to Editors

GE Commercial Finance is the business-to-business finance unit of General Electric. With deep industry expertise and lending, leasing and financing services of every kind, GE Commercial Finance plays a key role in helping its customers grow. Conducting business in 35 countries, GE Commercial Finance has assets of over US$230 billion and is headquartered in Stamford, Connecticut, USA.

GE Commercial Finance Real Estate (www.gerealestate.com) is a world leader in real estate capital. Formed in 1972, the business has more than $28 billion in assets with 34 offices located throughout North America, Europe, Asia, and Australia/New Zealand. GE Commercial Finance Real Estate, backed by its parent company’s AAA rating, offers a broad range of debt, equity and servicing solutions including: intermediate and long-term mortgages, restructuring and acquisition capital, niche equity investment/joint ventures, capital markets securitization and placements, and asset management. As one of the fastest growing units within GE Commercial Finance, Real Estate has experienced annual growth of more than 10% for the last ten consecutive years.

GE Commercial Finance Real Estate Europe has 18 years’ experience in the European property market and has established a solid foundation through long-term dedication to local partnerships and meeting customers' needs. Today, 460 real estate professionals and 35 joint venture partnerships operate from seven regional offices across Europe. The business in Europe has current direct investments of US$9.1 billion, representing a US$11.6 billion portfolio of underlying assets in European real estate.

GE Commercial Finance Real Estate France is the most important market of GE Commercial Finance Real Estate in Europe with more than 153 professionals and more than 5,1 billion euros in current investments on the French market. The Paris office opened in 1996. GE Commercial Finance Real Estate France takes part in buying and selling unitary assets as well as participating to major call for tenders for both portfolios and companies.

General Electric (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest


Contacts:
Financial Dynamics France
Elodie Marchand/ Jean-Benoît Roquette
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elodie.marchand@fd.com / jean-benoit.roquette@fd.com