KUALA LUMPUR, MALAYSIA, September 19, 2001 — GE Power Systems has signed an agreement with the Tokyo Electric Power Company (TEPCO) to design and build the first power plant in Asia and the third in the world based on GE’s most advanced combined-cycle technology, the H System(tm), GE announced today at Power-Gen Asia 2001.

GE will supply three 109H combined-cycle systems for TEPCO’s Futtsu Thermal Power Station Group No. 4 project, with each system including an MS9001H gas turbine, a steam turbine and a generator. The combined output of the three systems will be 1,520 megawatts.

Shipment of the equipment is scheduled to begin in April of 2006 with the first unit expected to begin commercial operation in mid-2008. All three units will be in service by mid-2010.

“With the successful completion of this project, the Futtsu Thermal Power Station will be a showcase for the world’s most advanced combined-cycle power plant technology, enabling TEPCO to meet the industry’s highest standards for environmental and operational performance,” said Del Williamson, president of Global Sales for GE Power Systems.

GE will be the prime contractor for the Futtsu No. 4 project. The three 9H gas turbines will be built at GE’s Greenville, SC manufacturing plant. The gas turbine compressors, steam turbines and generators will be built by Toshiba Corporation at its Keihin facility, under a previously announced agreement with GE. The heat recovery steam generators (HRSGs), de-nitrification systems and accessory equipment will be supplied by Toshiba Corporation and Hitachi, Ltd.

TEPCO, one of the largest utilities in the world with power plants producing 60 gigawatts, is GE’s largest customer and has been a leader in the application of advanced combined-cycle technology for power generation. The Futtsu No. 4 plant will be GE’s fifth advanced combined-cycle project for TEPCO. The first four are Futtsu No. 1 and 2 on Tokyo Bay, a 2,000-megawatt site which employs 14 combined-cycle units based on GE’s Frame 9E gas turbines; and three plants all featuring GE’s F technology: the 2,800-megawatt, advanced combined-cycle plant at Yokohama; the 1,400-megawatt Chiba 2 station; and the 1,520-megawatt Futtsu No. 3 power station.

H System Milestones

Introduced by GE in 1995, the H System is designed to be the first gas turbine combined-cycle system in the world to achieve 60% thermal efficiency. It combines the gas turbine, steam turbine and HRSG into a seamless, combined-cycle system with each component optimized for the highest level of performance. The use of advanced materials and an innovative steam cooling system enables the H System to operate at the higher firing temperatures (1430� C class) required for increased thermal efficiency.

The H System burns natural gas, a much cleaner fuel than other fossil fuel options. This technology, in combination with the steam cooling and high efficiency, is capable of achieving very low NOx and CO emissions.

The world’s first H System combined-cycle plant will be the 480-megawatt Baglan Bay Power Station in South Wales, scheduled to start up in the summer of 2002. Construction began at the site in October of 2000. Following extensive testing in GE’s Greenville plant, the first 9H gas turbine was shipped to Wales in December of 2000, and installation of the gas turbine at the Baglan Bay site is currently under way.

The world’s second H System project will be Sithe Energies’ Heritage Station in upstate New York. This 800-megawatt power station will use two 7H (60-hertz) gas turbines and is scheduled to enter service in 2004.

About GE Power Systems

GE Power Systems (www.gepower.com) is one of the world’s suppliers of power generation technology, energy services and management systems with 2000 revenue of $15 billion. The business has the largest installed fleet of power generation equipment in the global energy industry. GE Power Systems provides equipment, service and management solutions across the power generation, oil and gas, distributed power and energy rental industries.