RNS Number:5462U
SLK Hull Derivatives, LLC
22 January 2004

EMM DISCLOSURE

                                                             FORM 38.5 (SUMMARY)



Lodge with a RIS and the Takeover Panel.  Use a separate form for each class of
securities in which dealings have been made.





CONNECTED EXEMPT MARKET- MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS





Name of EMM

SLK Hull Derivatives, LLC




Date of disclosure

22 January 2004



Contact name

Peter Highton




Telephone number

44-207-774-1935



Please see attached disclosure of dealings under Rule 38.5 in the securities
of the following companies:

General Electric Co.





AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:



In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date), the
exercise price and any option money paid or received. For derivatives this
should include, at least, the number of reference securities to which they
relate (when relevant), the maturity date (or if applicable the closing out
date) and the reference price.



For full details of the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129.

Email: monitoring@disclosure.org.uk






                                                                       FORM 38.5



CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Dealing in (name of company)
General Electric Co.




Class of security

Ordinary Shares




Date of disclosure

22 January 2004



Date of dealing

21 January 2004



Name of EMM

SLK Hull Derivatives, LLC




Name of offeree/offeror with whom connected

General Electric Co.



Total number of securities purchased

113,650



Highest price paid*

33.95 USD



Lowest price paid*

33.03 USD



Total number of securities sold

163,150



Highest price received*

33.99 USD



Lowest price received*

33.16 USD



*Currency must be stated




FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Dealing in (name of company)
General Electric Co.




Date of disclosure

22 January 2004



Name of EMM

SLK Hull Derivatives, LLC




Name of offeree/offeror with whom connected

General Electric Co.


Product     Date        Firm Buy/ Exercise     Expiry Date Option Money Paid/   Underlying number   Exercise
Name        Executed    Sell      Price (USD)              Received (USD)*      of shares to which  Date
                                                           indicates highest    the option is
                                                           and lowest price     referenced

Call Option 01/21/04    Buy       20           03/19/04    13.40                2,000
Call Option 01/21/04    Sell      25           03/19/04    9.10                 100
Call Option 01/21/04    Sell      25           09/17/04    8.50                 1,500
Call Option 01/21/04    Buy       27.5         06/18/04    6.50                 100
Call Option 01/21/04    Buy       30           02/20/04    3.30 - 4.00*         600
Call Option 01/21/04    Buy       30           03/19/04    3.40 - 4.10*         7,600
Call Option 01/21/04    Sell      30           03/19/04    4.10 - 4.20*         1,300
Call Option 01/21/04    Buy       30           06/18/04    4.00 - 4.30*         2,100
Call Option 01/21/04    Sell      30           06/18/04    3.70 - 4.30*         2,300
Call Option 01/21/04    Sell      32.5         02/20/04    1.10 - 1.25*         300
Call Option 01/21/04    Buy       32.5         02/20/04    1.15 - 1.75*         95,600
Call Option 01/21/04    Buy       32.5         03/19/04    1.40 - 1.85*         18,500
Call Option 01/21/04    Sell      32.5         03/19/04    1.70 - 1.90*         4,700
Call Option 01/21/04    Buy       32.5         06/18/04    1.95 - 2.20*         2,200
Call Option 01/21/04    Sell      32.5         06/18/04    1.95 - 2.20*         4,500
Call Option 01/21/04    Buy       35           02/20/04    0.15 - 0.30*         39,300
Call Option 01/21/04    Sell      35           02/20/04    0.30                 2,000
Call Option 01/21/04    Buy       35           03/19/04    0.30 - 0.50*         14,000
Call Option 01/21/04    Sell      35           03/19/04    0.40 - 0.55*         13,500
Call Option 01/21/04    Buy       35           06/18/04    0.75 - 1.05*         18,300
Call Option 01/21/04    Sell      35           06/18/04    0.85 - 1.15*         11,500
Call Option 01/21/04    Buy       35           09/17/04    1.20 - 1.35*         1,100
Call Option 01/21/04    Sell      35           09/17/04    1.55                 1,100
Call Option 01/21/04    Sell      37.5         02/20/04    0.05                 4,000
Call Option 01/21/04    Sell      37.5         03/19/04    0.10                 17,100
Call Option 01/21/04    Buy       37.5         06/18/04    0.30 - 0.40*         7,900
Call Option 01/21/04    Buy       37.5         09/17/04    0.50 - 0.70*         3,800
Put Option  01/21/04    Buy       27.5         09/17/04    0.35                 500
Put Option  01/21/04    Buy       30           02/20/04    0.05                 5,500
Put Option  01/21/04    Buy       30           03/19/04    0.15 - 0.25*         1,100
Put Option  01/21/04    Sell      30           03/19/04    0.20 - 0.25*         40,800
Put Option  01/21/04    Buy       30           06/18/04    0.45 - 0.55*         1,000
Put Option  01/21/04    Buy       30           09/17/04    0.75 - 0.95*         300
Put Option  01/21/04    Buy       32.5         02/20/04    0.25 - 0.45*         58,700
Put Option  01/21/04    Sell      32.5         02/20/04    0.30 - 0.35*         3,300
Put Option  01/21/04    Buy       32.5         03/19/04    0.50 - 0.75*         26,200
Put Option  01/21/04    Sell      32.5         03/19/04    0.55 - 0.85*         1,000
Put Option  01/21/04    Buy       32.5         06/18/04    0.95 - 1.25*         5,600
Put Option  01/21/04    Sell      32.5         06/18/04    1.15                 5,000
Put Option  01/21/04    Buy       35           02/20/04    1.40 - 2.00*         2,000
Put Option  01/21/04    Sell      35           03/19/04    1.75                 200
Put Option  01/21/04    Buy       35           06/18/04    2.35                 700
Put Option  01/21/04    Sell      35           06/18/04    2.25                 200
Put Option  01/21/04    Sell      37.5         06/18/04    4.20 - 4.70*         500
Put Option  01/21/04    Sell      40           02/20/04    6.10                 200




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END

EMMILFIRLLIFFIS