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Telemundo Selects GE-1 as its Programming Home

GEs Cable 2 Neighborhood is Choice of Spanish Language Network

PRINCETON, NJ, December 21, 1998 GE American Communications, Inc. (GE Americom), a subsidiary of GE Capital, announced today that Telemundo, one of Americas premier Spanish language networks has joined GE Americoms CABLE 2 - Americas largest cable neighborhood.

According to the multi-year agreement, Telemundo will begin service on GE-2 and migrate in early 1999 to GE-1. The GE-1 satellite along with the soon-to-be-launched GE-4 will comprise GE Americoms CABLE 2 Neighborhood. Telemundo will utilize its GE-1 transponder to reach cable head-ends across America.

Carl Capista, GE Americoms Vice President, Satellite Services North America, expressed his pleasure regarding Telemundos signing by saying, "We are delighted to have Telemundos Spanish language programming services in the Cable 2 neighborhood, where its expanding cultural influence can be realized through reaching Americas cable households."

Alan Sokol, Chief Operating Officer for Telemundo stated, "Our commitment to GE Americom is consistent with our goal to make Telemundo the premier Spanish-language network in the U.S. We believe GE Americom will provide us with unparalleled signal quality and reliability."

The Miami-based Telemundo broadcasts in 63 markets and is currently available to an estimated 85 percent of Americas Hispanic viewers. Telemundo plans to add 400,000 cable homes over the next two years, boosting Telemundos reach to an estimated 90 percent of the U.S. market. Telemundo Network Group, LLC is owned equally by Sony Pictures Entertainment and Liberty Media.

GE Americoms CABLE 2 Neighborhood resides on its GE-1 and its soon-to-be-launched GE-4 satellites. Together the two satellites will offer programmers and cable system operators access to Americas largest cable neighborhood. The close proximity of the two satellites, GE-1 at 103° and GE-4 at 101° , will permit dual reception of both by a single ground antenna. To help facilitate the establishment of its CABLE 2 neighborhood, GE Americom has implemented a free antenna give-away program to qualified head-ends. The program is eventually expected to distribute up to 2,500 antennas reaching up to 90% of the cable subscribers in the continental United States. The program also provides a free retrofit package for those head-ends already having a GE-1 antenna. Programmers who have already joined the Cable 2 neighborhood, include PaxNet, Deutsche Welle, Wisdom TV, Americas Voice, Fox SportSouth and Rainbows New England, Bay Area, Ohio and Chicago regional Fox Sports Services.

With over 20 years of experience, GE Americom is recognized as a pioneer and a leading provider of global satellite communications solutions. These solutions primarily provide the distribution of broadcast and cable television programming and digital/broadband services over satellite. As one of the worlds largest satellite operators, GE Americom currently operates twelve satellites providing satellite-based solutions to North America. In Europe, its GE-1E satellite provides high-powered Ku-band service to European and Middle Eastern television markets. With the launch of GE-4 next year and as an owner of Argentine satellite operator NahuelSAt, GE Americom is expanding its delivery of satellite-based communications services throughout South and Latin America. And with the 1999 third quarter launch of GE-1A, GE Americoms satellite interests will reach more than 90% of the worlds population. Some of GE Americoms key international customers include Viacom, Time Warner/Turner Broadcasting, Discovery, NBC, NHK, Disney, Deutsche Welle and Merlin.

GE Capital with assets of over US$280 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, CT., provides equipment management, mid-market and specialized financing, specialty insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations worldwide.

Contact: Monica Morgan
609-987-4143

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