Agreement Allows EV Drivers to Securely and Conveniently Pay for Charging Fees through the WattStation Connect Mobile App----- Mobile App Now Available at Apple iTunes Store®

PLAINVILLE, Conn. — July 12, 2012 — GE Energy's (NYSE: GE) Industrial Solutions business today announced details of the strategic agreement it entered with PayPal to launch the ecomagination™-approved WattStation™ and WattStation™ Connect, a complete electric vehicle (EV) charging platform solution.

The agreement between Industrial Solutions and PayPal enables drivers to securely and conveniently pay for charging fees through the WattStation Connect mobile app and PayPal. With the app, now available at the Apple iTunes Store®, users can locate the nearest WattStation EV charger; check the status of the charger; get pricing details and pay with PayPal.

Here's how it works — EV drivers use the app to scan the quick response (QR) code on the WattStation charger. The QR code will identify the WattStation and the pricing structure for that individual charger; drivers then simply pay for the charge via PayPal. In addition to the app, EV drivers can locate the nearest WattStation charging station on the recently launched website, www.gewattstation.com.

"Our full line of EV charging solutions is designed with the end user top of mind," said Michael Mahan, product general manager, EV infrastructure for GE Energy's Industrial Solutions business. "This collaborative agreement with PayPal enables us to offer EV drivers a convenient way to charge their vehicles, which is essential to nurturing the mass adoption of EVs in the future."

Industrial Solutions, a GE heritage business, is leading the future of electrification with advanced technologies that distribute electricity and protect and control a facility's electrical infrastructure. The business provide customers, across various industries, with end-to-end product and service solutions that ensure the reliability and protection of the electrical infrastructure; from the substation, throughout the facility and including all the sustainable power technologies in between. Industrial Solutions' product and service solutions add to GE Energy Management's broader portfolio of leading technology solutions for the delivery, management conversion and optimization of electrical power for customers across multiple energy intensive industries.

"Simplicity and convenience are key to mass adoption of any new technology, something we know well at PayPal," said Scott Dunlap, vice president of emerging opportunities at PayPal. "Together with GE Energy's Industrial Solutions business, we've made recharging your electric vehicle easier than filling a gas tank. We are pleased to be a part of this important initiative."

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows people to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With 106 million active accounts in 190 markets and 25 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay (Nasdaq:EBAY) company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. More information about the company can be found at PayPal.com. PayPal is headquartered in San Jose, Calif., and its international headquarters is located in Singapore.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.