United Technologies Corp. Signs Agreement to Acquire GE`s Security Business for $1.82B

BRADENTON, Fla.--(Business Wire)--
GE (NYSE: GE) announced today that it has signed a definitive agreement with
United Technologies Corp. (NYSE: UTX) for UTC to acquire GE`s Security business
for $1.82B. The transaction has been approved by the Boards of both companies,
and will be subject to customary closing conditions including regulatory
approvals.

"The Security business required significant investment in its capabilities to
evolve and better serve the security industry," said Charlene Begley, President
& CEO, GE Enterprise Solutions, which includes GE Security.

"For our customers and our employees UTC is a natural fit," Begley said. "The
combination of UTC's existing product portfolio and GE Security`s outstanding,
highly complementary products creates a broad set of offerings for our customers
and partners."

"Customers will see increased breadth and depth of product offerings, as well as
a global reach that serves a range of industry segments," said Dean Seavers,
President & CEO, GE Security. "This is a great move for our Security business
because we are bringing together teams who are committed to growing their
presence in the Security industry.

The Security business will become part of UTC`s Fire & Security business, which
is headquartered in Connecticut and led by William Brown, President, UTC Fire &
Security.

"We`re excited to invest in a company whose technologies will improve our
growing position in the fire and security industry," said Brown. "GE Security
has well respected products and brands that complement our existing portfolio
and position us well for future growth."

About GE Security

GE Security, Inc. is a wholly owned affiliate of the General Electric Company
(NYSE: GE) focused on communication and information technologies for security
and life safety solutions. GE Security has operations in over 26 countries and
is represented by some of the best-known brand names for intrusion and fire
detection, access and building control, video surveillance, and key management.
For more information, visit www.gesecurity.com.

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking
on the world`s toughest challenges. From aircraft engines and power generation
to financial services, medical imaging, and television programming, GE operates
in more than 100 countries and employs about 300,000 people worldwide. For more
information, visit the company's Web site at www.ge.com.

Caution Concerning Forward-Looking Statements

This document contains "forward-looking statements"- that is, statements related
to future, not past, events. In this context, forward-looking statements often
address our expected future business and financial performance and financial
condition, and often contain words such as "expect," "anticipate," "intend,"
"plan," believe," "seek," "see," or "will." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain. For us,
particular uncertainties that could cause our actual results to be materially
different than those expressed in our forward-looking statements include: the
severity and duration of current economic and financial conditions, including
volatility in interest and exchange rates, commodity and equity prices and the
value of financial assets; the impact of U.S. and foreign government programs to
restore liquidity and stimulate national and global economies; the impact of
conditions in the financial and credit markets on the availability and cost of
GE Capital`s funding and on our ability to reduce GE Capital`s asset levels and
commercial paper exposure as planned; the impact of conditions in the housing
market and unemployment rates on the level of commercial and consumer credit
defaults; our ability to maintain our current credit rating and the impact on
our funding costs and competitive position if we do not do so; the soundness of
other financial institutions with which GE Capital does business; the adequacy
of our cash flow and earnings and other conditions which may affect our ability
to maintain our quarterly dividend at the current level; the level of demand and
financial performance of the major industries we serve, including, without
limitation, air and rail transportation, energy generation, network television,
real estate and healthcare; the impact of regulation and regulatory,
investigative and legal proceedings and legal compliance risks, including the
impact of proposed financial services regulation; strategic actions, including
acquisitions and dispositions and our success in integrating acquired
businesses; and numerous other matters of national, regional and global scale,
including those of a political, economic, business and competitive nature. These
uncertainties may cause our actual future results to be materially different
than those expressed in our forward-looking statements. We do not undertake to
update our forward-looking statements.

GE Enterprise Solutions/GE Security
Michelle May, +1-989-835-3563
michelle.may@ge.com
or
Edelman for GE Security
Joanne Rasch, +1-202-277-3105
joanne.rasch@edelman.com

Copyright Business Wire 2009