GE Applauds US-UAE Civilian Nuclear Energy Cooperation Agreement

WILMINGTON, N.C.--(Business Wire)--
GE applauds the U.S.-United Arab Emirates (UAE) civilian nuclear energy
cooperation agreement that recently earned congressional approval. Commonly
known as a "123 Agreement," this pact is legally required to allow U.S.
companies to provide reactor technologies, fuel and nuclear energy services to
other countries for civilian energy production.

GE has actively supported the historic U.S.-UAE agreement, which has been
praised for its non-proliferation provisions that create a model for other
countries in the region and around the world that are aspiring to address rising
energy demands with clean-air nuclear energy.

"We applaud this landmark agreement, which marks a historic moment in the future
development of civilian nuclear energy in the UAE and the region," said Jack
Fuller, president and CEO of GE Hitachi Nuclear Energy (GEH), the global nuclear
energy alliance formed by GE and Hitachi. "The UAE has shown strong leadership
demonstrating the role nuclear energy plays in a diverse energy portfolio to
address growing domestic demands for clean and cost-effective power generation
for generations to come."

The agreement is the latest step as the UAE moves forward with the development
of its national civil nuclear energy program. The UAE recently put into place a
law establishing the regulatory framework for a civilian nuclear energy program.

The UAE`s domestic power demand is expected to increase to more than 40,000 MW
by 2020. The country`s rapid economic development has stretched existing energy
resources, and nuclear energy can help fill the electricity demand gap with
cost-effective power.

GEH is a world-leading provider of advanced boiling water reactor technology and
power plant services for scores of nuclear power stations around the world.
Globally, dozens of new nuclear reactors are being constructed, adding to the
441 reactors currently operating in 31 countries, delivering 17 percent of
worldwide electricity production. Global energy demand is expected to increase
44 percent by 2030, according to the U.S. Energy Information Administration.
Nuclear energy is a safe, affordable and virtually carbon-free energy solution.

GE has been a strong partner of the UAE and an active participant in the
country`s infrastructure growth for the past 40 years. Today, GE has six
facilities and more than 600 employees throughout the UAE, supporting the growth
of numerous sectors, including power, water, oil and gas, industrial, aviation,
healthcare, finance, media and entertainment sectors. GE also is engaged in
knowledge sharing and learning initiatives in the UAE, reflecting its continued
commitment to the country and the region.

GE Hitachi Nuclear Energy

Based in Wilmington, N.C., GE Hitachi Nuclear Energy (GEH) is a world-leading
provider of advanced reactors and nuclear services. Established in June 2007,
GEH is a global nuclear alliance created by GE and Hitachi to serve the global
nuclear industry. The nuclear alliance executes a single, strategic vision to
create a broader portfolio of solutions, expanding its capabilities for new
reactor and service opportunities. The alliance offers customers around the
world the technological leadership required to effectively enhance reactor
performance, power output and safety.

GE Hitachi Nuclear Energy
Ned Glascock, +1 910-819-5729
edward.glascock@ge.com
or
Masto Public Relations
Howard Masto / Tom Murnane, +1 518-786-6488
howard.masto@ge.com / tom.murnane@mastopr.com

Copyright Business Wire 2009