ANNOUNCEMENT, [Posted 11/5/2002 3:00:00 PM EST]

"WILTON, CONNECTICUT (November 5, 2002) GE Specialty Materials, a unit of General Electric Company (NYSE:GE), today announced that it has completed the acquisition of the assets of Advanced Ceramics Corporation and Advanced Ceramics International Corporation (ACC and ACIC).  Advanced Ceramics is the world's largest boron nitride producer.

The Advanced Ceramics business produces a breadth of products; it manufactures boron nitride crucibles that are used to grow wafers used in wireless phones and LEDs.  Advanced Ceramics makes heaters that increase efficiencies in semiconductor chip making equipment.  Additionally, its boron nitride powders add softness and smoothness to cosmetics.  Its boron nitride powder's thermal management properties are also useful in applications ranging from automotive packaging to cooling the space shuttle's landing gear.  Advanced Ceramics also makes high temperature ceramics that evaporate metal in the production of glossy plastics used in gift-wrap, bottle labels and potato chip bags.

The Advanced Ceramics business is based in Cleveland, Ohio and will become part of the GE Quartz business within GE Specialty Materials.  The acquisition is the first for GE Quartz. The new business will be known as GE Advanced Ceramics.  Terms of the transaction were not disclosed.

"The addition of Advanced Ceramics is another strategic building block for us," said William Woodburn, President and Chief Executive Officer of GE Specialty Materials.  "Advanced Ceramics is a high technology business serving the global materials industry and is another example of how we are expanding in growing markets.  The GE Specialty Materials family of businesses has much to gain from this acquisition.  There are solid synergies not only with GE Quartz, but also with other business within the Specialty Materials portfolio.

Maryrose T. Sylvester, President of GE Quartz says, "I am thrilled to welcome the people of Advanced Ceramics into GE.  We are already seeing the limitless potential that our two teams together can bring to our combined customer base.  We are excited about pairing the entrepreneurial product development focus of Advanced Ceramics with GE's resources and Six Sigma processes."

Advanced Ceramics has its global headquarters in Cleveland, Ohio.  It has manufacturing plants in Strongsville, Ohio; Cardiff, Wales and Kozuki, Japan.  ACC and ACIC employ 300 people globally.  Visit ACC online at www.advceramics.com.

GE Specialty Materials (GESM) is a new platform for growth within GE offering a wide range of products including fused quartz, silicones, and water treatment.  GESM uses technological innovation and Six Sigma to serve customers in segments as diverse as cosmetics, semi-conductors, oil drilling, construction and electronics.  Businesses within GE Specialty Materials include GE Betz, GE Silicones, GE Specialty Chemicals, GE Superabrasives and GE Quartz.  Visit GE Specialty Materials online at www.gespecialtymaterials.com.

This news release includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, reflecting management's current analysis and expectations, based on reasonable assumptions.  Results could differ materially depending on such factors as business climate, economic and competitive uncertainties, failure to complete transactions, adverse legal and regulatory developments, and adverse changes in economic and political climates around the world.  As appropriate, additional factors are contained in reports filed with the Securities and Exchange Commission.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  This paragraph is included to provide safe harbor for forward-looking statements, which are not required to be publicly revised as circumstances change.

For more information, contact:
Milissa Rocker, GE Specialty Materials, 518-233-3893
Milissa.Rocker@gesm.ge.com