----

**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

|   |                         |   |
|--------|------------------------------|--------|
|   | **FORM                10-Q** |   |

**GENERAL      ELECTRIC CAPITAL SERVICES, INC.**

| **Delaware**                                                                  |   | **06-1109503**                                      |
|-------------------------------------------------------------------------------|--------|-----------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) |   | (I.R.S.                Employer Identification No.) |
|                                                                          |   |                                                |
| **260                Long Ridge Road, Stamford, CT**                          |   | **06927**                                           |
| (Address                of principal executive offices)                       |   | (Zip                Code)                           |

** **
**(203)      357-4000**

**REGISTRANT      MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND (b) OF      FORM 10-Q AND IS THEREFORE FILING THIS FORM 10-Q WITH THE REDUCED      DISCLOSURE FORMAT.**

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**General      Electric Capital Services, Inc.**

| **Part                I - Financial Information**                                                                                 | Page   |
|-----------------------------------------------------------------------------------------------------------------------------------|--------|
| Item                1. Financial Statements                                                                                       |   |
| Condensed                Statement of Current and Retained Earnings                                                               | 3      |
| Condensed                Statement of Financial Position                                                                          | 4      |
| Condensed                Statement of Cash Flows                                                                                  | 5      |
| Notes                to Condensed, Consolidated Financial Statements                (Unaudited)                                   | 6      |
| Item                2. Management’s Discussion and Analysis of Results of Operations and                Financial Condition | 12     |
| Item                4. Controls and Procedures                                                                                    | 24     |
|                                                                                                                              |   |
| **Part                II - Other Information**                                                                                    |   |
| Item                1. Legal Proceedings                                                                                          | 24     |
| Item                6. Exhibits                                                                                                   | 25     |
| Signatures                                                                                                                        | 26     |

**Forward-Looking      Statements**

**Restatement**

**Genworth**

----

**Part      I. Financial Information**

**Item      1. Financial Statements**

**General      Electric Capital Services, Inc. and consolidated      affiliates**

**Condensed      Statement of Current and Retained Earnings**

**(Unaudited)      **

|                                                         | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|--------------------------------------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                millions)*                               | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Revenues**                                                 |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Revenues                from services (note 3)               | $                                                                    | 19,882 |                                                                | $      | 16,907 |   | $ | 56,503 |   | $ | 49,667 |   |
| Sales                of goods                                |                                                                 | 543    |                                                                |   | 706 |   |   | 1,881 |   |   | 2,010 |   |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Total                revenues                                |                                                                 | 20,425 |                                                                |   | 17,613 |   |   | 58,384 |   |   | 51,677 |   |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Costs                and expenses**                        |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Interest                                                     |                                                                 | 3,619  |                                                                |   | 2,734 |   |   | 10,853 |   |   | 8,289 |   |
| Operating                and administrative                  |                                                                 | 5,351  |                                                                |   | 5,022 |   |   | 16,201 |   |   | 15,545 |   |
| Cost                of goods sold                            |                                                                 | 505    |                                                                |   | 674 |   |   | 1,768 |   |   | 1,926 |   |
| Insurance                losses and policyholder and         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| annuity                benefits                              |                                                                 | 4,698  |                                                                |   | 3,910 |   |   | 12,504 |   |   | 11,342 |   |
| Provision                for losses on financing receivables |                                                                 | 1,095  |                                                                |   | 785 |   |   | 2,955 |   |   | 2,744 |   |
| Depreciation                and amortization                 |                                                                 | 1,583  |                                                                |   | 1,508 |   |   | 4,640 |   |   | 4,390 |   |
| Minority                interest in net earnings of          |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| consolidated                affiliates                       |                                                                 | 213    |                                                                |   | 126 |   |   | 549 |   |   | 248 |   |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Total                costs and expenses                      |                                                                 | 17,064 |                                                                |   | 14,759 |   |   | 49,470 |   |   | 44,484 |   |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Earnings                before income taxes**              |                                                                 | 3,361  |                                                                |   | 2,854 |   |   | 8,914 |   |   | 7,193 |   |
| Provision                for income taxes                    |                                                                 | (676   | )                                                                   |   | (601 | ) |   | (1,662 | ) |   | (1,446 | ) |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Net                earnings**                              |                                                                 | 2,685  |                                                                |   | 2,253 |   |   | 7,252 |   |   | 5,747 |   |
| Dividends                                                    |                                                                 | (3,673 | )                                                                   |   | (222 | ) |   | (5,512 | ) |   | (2,064 | ) |
| Retained                earnings at beginning of period      |                                                                 | 38,704 |                                                                |   | 32,346 |   |   | 35,976 |   |   | 30,694 |   |
| Retained                earnings at end of period            | $                                                                    | 37,716 |                                                                | $      | 34,377 |   | $ | 37,716 |   | $ | 34,377 |   |
|                                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |

----

**General      Electric Capital Services, Inc. and consolidated      affiliates**

**Condensed      Statement of Financial Position**

|                                                                     | **September                30, 2005** |   | **December                31, 2004** |   |
|--------------------------------------------------------------------------|---------------------------------------|--------|--------------------------------------|--------|
| *(In                millions)*                                           | **(Unaudited)**                       |   |                                 |   |   |   |   |
|                                                                     |                                  |   |                                 |   |   |   |   |   |   |   |
| **Assets**                                                               |                                  |   |                                 |   |   |   |   |   |   |   |
| Cash                and equivalents                                      |                                  | $      | 9,653                                |   |   |   | $ | 12,367 |   |   |
| Investment                securities                                     |                                  |   | 78,491                               |   |   |   |   | 135,152 |   |   |
| Financing                receivables - net (note 4)                      |                                  |   | 281,062                              |   |   |   |   | 282,699 |   |   |
| Insurance                receivables - net                               |                                  |   | 14,631                               |   |   |   |   | 25,971 |   |   |
| Other                receivables                                         |                                  |   | 18,709                               |   |   |   |   | 14,134 |   |   |
| Inventories                                                              |                                  |   | 174                                  |   |   |   |   | 189 |   |   |
| Buildings                and equipment, less accumulated amortization of |                                  |   |                                 |   |   |   |   |   |   |   |
| $20,467                and $20,630                                       |                                  |   | 49,292                               |   |   |   |   | 46,578 |   |   |
| Intangible                assets - net (note 5)                          |                                  |   | 25,751                               |   |   |   |   | 28,520 |   |   |
| Other                assets                                              |                                  |   | 55,684                               |   |   |   |   | 72,894 |   |   |
| Total                assets                                              |                                  | $      | 533,447                              |   |   |   | $ | 618,504 |   |   |
|                                                                     |                                  |   |                                 |   |   |   |   |   |   |   |
| **Liabilities                and equity**                                |                                  |   |                                 |   |   |   |   |   |   |   |
| Borrowings                (note 6)                                       |                                  | $      | 352,365                              |   |   |   | $ | 360,799 |   |   |
| Accounts                payable                                          |                                  |   | 16,426                               |   |   |   |   | 17,104 |   |   |
| Insurance                liabilities, reserves and annuity benefits      |                                  |   | 75,422                               |   |   |   |   | 140,902 |   |   |
| Other                liabilities                                         |                                  |   | 21,008                               |   |   |   |   | 25,572 |   |   |
| Deferred                income taxes                                     |                                  |   | 10,654                               |   |   |   |   | 11,153 |   |   |
| Total                liabilities                                         |                                  |   | 475,875                              |   |   |   |   | 555,530 |   |   |
|                                                                     |                                  |   |                                 |   |   |   |   |   |   |   |
| Minority                interest in equity of consolidated affiliates    |                                  |   | 3,696                                |   |   |   |   | 8,682 |   |   |
|                                                                     |                                  |   |                                 |   |   |   |   |   |   |   |
| Capital                stock                                             |                                  |   | 11                                   |   |   |   |   | 11 |   |   |
| Accumulated                gains (losses) - net                          |                                  |   |                                 |   |   |   |   |   |   |   |
| Investment                securities                                     |                                  |   | 1,779                                |   |   |   |   | 2,345 |   |   |
| Currency                translation adjustments                          |                                  |   | 3,089                                |   |   |   |   | 5,104 |   |   |
| Cash                flow hedges                                          |                                  |   | (939                                 | )      |   |   |   | (1,354 | ) |   |
| Minimum                pension liabilities                               |                                  |   | (156                                 | )      |   |   |   | (150 | ) |   |
| Additional                paid-in capital                                |                                  |   | 12,376                               |   |   |   |   | 12,360 |   |   |
| Retained                earnings                                         |                                  |   | 37,716                               |   |   |   |   | 35,976 |   |   |
| Total                shareowner’s equity                           |                                  |   | 53,876                               |   |   |   |   | 54,292 |   |   |
| Total                liabilities and equity                              |                                  | $      | 533,447                              |   |   |   | $ | 618,504 |   |   |
|                                                                     |                                  |   |                                 |   |   |   |   |   |   |   |

----

**General      Electric Capital Services, Inc. and consolidated      affiliates**

**Condensed      Statement of Cash Flows**

**(Unaudited)**

|                                                                                                           | **Nine                months ended****September                30** |     |
|----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|----------|
| *(In                millions)*                                                                                 | **2005**                                                            |     | **2004** |   |
|                                                                                                           |                                                                |     |   |   |   |   |
| **Cash                flows - operating activities**                                                           |                                                                |     |   |   |   |   |
| Net                earnings                                                                                    | $                                                                   | 7,252    |   | $ | 5,747 |   |
| Adjustments                to reconcile net earnings to cash provided from operating                activities |                                                                |     |   |   |   |   |
| Depreciation                and amortization of buildings and equipment                                        |                                                                | 4,640    |   |   | 4,390 |   |
| Increase                in accounts payable                                                                    |                                                                | 142      |   |   | 4,648 |   |
| Increase                in insurance liabilities, reserves and annuity benefits                                |                                                                | 2,353    |   |   | 3,645 |   |
| Provision                for losses on financing receivables                                                   |                                                                | 2,955    |   |   | 2,744 |   |
| All                other operating activities                                                                  |                                                                | 4,085    |   |   | (730 | ) |
| **Cash                from operating activities**                                                              |                                                                | 21,427   |   |   | 20,444 |   |
|                                                                                                           |                                                                |     |   |   |   |   |
| **Cash                flows - investing activities**                                                           |                                                                |     |   |   |   |   |
| Increase                in loans to customers                                                                  |                                                                | (213,147 | ) |   | (209,454 | ) |
| Principal                collections from customers - loans                                                    |                                                                | 206,827  |   |   | 209,675 |   |
| Investment                in equipment for financing leases                                                    |                                                                | (16,913  | ) |   | (15,062 | ) |
| Principal                collections from customers - financing leases                                         |                                                                | 18,361   |   |   | 17,960 |   |
| Net                change in credit card receivables                                                           |                                                                | (641     | ) |   | (2,494 | ) |
| Additions                to buildings and equipment                                                            |                                                                | (8,074   | ) |   | (7,950 | ) |
| Dispositions                of buildings and equipment                                                         |                                                                | 4,435    |   |   | 3,881 |   |
| Payments                for principal businesses purchased                                                     |                                                                | (6,743   | ) |   | (16,171 | ) |
| Purchases                of securities by insurance and annuity businesses                                     |                                                                | (21,530  | ) |   | (24,256 | ) |
| Dispositions                of securities by insurance and annuity businesses                                  |                                                                | 19,302   |   |   | 23,130 |   |
| All                other investing activities                                                                  |                                                                | 214      |   |   | (1,441 | ) |
| **Cash                used for investing activities**                                                          |                                                                | (17,909  | ) |   | (22,182 | ) |
|                                                                                                           |                                                                |     |   |   |   |   |
| **Cash                flows - financing activities**                                                           |                                                                |     |   |   |   |   |
| Net                decrease in borrowings (maturities 90 days or less)                                         |                                                                | (8,027   | ) |   | (7,062 | ) |
| Newly                issued debt:                                                                              |                                                                |     |   |   |   |   |
| Short-term                (91-365 days)                                                                        |                                                                | 888      |   |   | 1,001 |   |
| Long-term                senior                                                                                |                                                                | 47,418   |   |   | 41,840 |   |
| Non-recourse,                leveraged lease                                                                   |                                                                | 172      |   |   | 332 |   |
| Repayments                and other debt reductions:                                                           |                                                                |     |   |   |   |   |
| Short-term                (91-365 days)                                                                        |                                                                | (29,850  | ) |   | (28,870 | ) |
| Long-term                senior                                                                                |                                                                | (9,515   | ) |   | (2,600 | ) |
| Non-recourse,                leveraged lease                                                                   |                                                                | (682     | ) |   | (502 | ) |
| Proceeds                from sales of investment contracts                                                     |                                                                | 17,079   |   |   | 12,373 |   |
| Redemption                of investment contracts                                                              |                                                                | (18,203  | ) |   | (15,401 | ) |
| Dividends                paid to shareowner                                                                    |                                                                | (5,512   | ) |   | (2,064 | ) |
| **Cash                used for financing activities**                                                          |                                                                | (6,232   | ) |   | (953 | ) |
|                                                                                                           |                                                                |     |   |   |   |   |
| **Decrease                in cash and equivalents**                                                            |                                                                | (2,714   | ) |   | (2,691 | ) |
|                                                                                                           |                                                                |     |   |   |   |   |
| **Cash                and equivalents at beginning of year**                                                   |                                                                | 12,367   |   |   | 11,273 |   |
|                                                                                                           |                                                                |     |   |   |   |   |
| **Cash                and equivalents at September 30**                                                        | $                                                                   | 9,653    |   | $ | 8,582 |   |
|                                                                                                           |                                                                |     |   |   |   |   |

----

**Notes      to Condensed, Consolidated Financial Statements (Unaudited)**

|                                                   | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|--------------------------------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                millions)*                         | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                                   |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Interest                on time sales and loans        | $                                                                    | 4,957  |                                                                | $      | 4,525 |   | $ | 15,275 |   | $ | 13,085 |   |
| Premiums                earned by insurance businesses |                                                                 | 3,679  |                                                                |   | 3,787 |   |   | 11,653 |   |   | 12,254 |   |
| Operating                lease rentals                 |                                                                 | 3,006  |                                                                |   | 2,860 |   |   | 8,562 |   |   | 7,929 |   |
| Investment                income                       |                                                                 | 2,527  |                                                                |   | 1,634 |   |   | 6,410 |   |   | 4,751 |   |
| Financing                leases                        |                                                                 | 962    |                                                                |   | 1,003 |   |   | 3,030 |   |   | 3,183 |   |
| Fees                                                   |                                                                 | 1,162  |                                                                |   | 858 |   |   | 3,039 |   |   | 2,520 |   |
| Other                income(a)                         |                                                                 | 3,589  |                                                                |   | 2,240 |   |   | 8,534 |   |   | 5,945 |   |
| Total(b)                                               | $                                                                    | 19,882 |                                                                | $      | 16,907 |   | $ | 56,503 |   | $ | 49,667 |   |
|                                                   |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |

| (a) | Included                gains on Genworth Financial, Inc. (Genworth) secondary public offerings                of                $422 million and $585 million for the three and nine months ended                September 30, 2005, respectively, and the loss on the Genworth initial                public offering of $388 million for the nine months ended September                30,                2004. See note 9.                                                                                                                                                                                                                                                          |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Included                $302 million and $78 million related to consolidated, liquidating                securitization entities for the three months ended September 30,                2005 and                2004, respectively, and $1,031 million and $810 million for the nine                months ended September 30, 2005 and 2004, respectively. Of that total,                the                amount related to Australian Financial Investments Group (AFIG),                a                December 2004 acquisition, was $140 million and $513 million in the                three                and nine months ended September 30, 2005,                respectively. |

----

|                                                                  | **At**      |    |
|-----------------------------------------------------------------------|-------------|---------|
| *(In                millions)*                                        | **9/30/05** |    | **12/31/04** |   |
|                                                                  |        |    |   |   |   |   |
| Time                sales and loans, net of deferred income           | $           | 222,319 |   | $ | 220,593 |   |
| Investment                in financing leases, net of deferred income |        | 63,788  |   |   | 67,754 |   |
|                                                                  |        | 286,107 |   |   | 288,347 |   |
| Less                allowance for losses                              |        | (5,045  | ) |   | (5,648 | ) |
| Financing                receivables - net                            | $           | 281,062 |   | $ | 282,699 |   |

|                                                                  | **At**      |   |
|-----------------------------------------------------------------------|-------------|--------|
| *(In                millions)*                                        | **9/30/05** |   | **12/31/04** |   |
|                                                                  |        |   |   |   |   |   |
| Time                sales and loans, net of deferred income           | $           | 17,307 |   | $ | 20,728 |   |
| Investment                in financing leases, net of deferred income |        | 1,144  |   |   | 2,125 |   |
|                                                                  |        | 18,451 |   |   | 22,853 |   |
| Less                allowance for losses                              |        | (28    | ) |   | (5 | ) |
| Financing                receivables - net                            | $           | 18,423 |   | $ | 22,848 |   |

|                                                  | **At**      |   |
|-------------------------------------------------------|-------------|--------|
| *(In                millions)*                        | **9/30/05** |   | **12/31/04** |   |
|                                                  |        |   |   |   |   |   |
| Goodwill                                              | $           | 23,179 |   | $ | 25,416 |   |
| Present                value of future profits (PVFP) |        | 707    |   |   | 1,426 |   |
| Capitalized                software                   |        | 711    |   |   | 758 |   |
| Other                intangibles                      |        | 1,154  |   |   | 920 |   |
| Total                                                 | $           | 25,751 |   | $ | 28,520 |   |

----

|                                             | **2005**                        |   |
|--------------------------------------------------|---------------------------------|--------|
| *(In                millions)*                   | **GE****Commercial****Finance** |   | **GE****Consumer****Finance** |   | **GE****Industrial**(a) |   | **GE****Infrastructure**(a) |   | **Total** |   |
|                                             |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                at January 1(b)           |                            | $      | 13,967 |   |   |   | $ | 9,860 |   |   |   | $ | 1,459 |   |   |   | $ | 130 |   |   | $ | 25,416 |   |
| Acquisitions/purchase                accounting  |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| adjustments                                      |                            |   | 286 |   |   |   |   | (88 | ) |   |   |   | (2 | ) |   |   |   | (4 | ) |   |   | 192 |   |
| Genworth                deconsolidation (note 9) |                            |   | (1,491 | ) |   |   |   | - |   |   |   |   | - |   |   |   |   | - |   |   |   | (1,491 | ) |
| Currency                exchange, dispositions   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and                other                         |                            |   | (459 | ) |   |   |   | (432 | ) |   |   |   | (46 | ) |   |   |   | (1 | ) |   |   | (938 | ) |
| Balance                at September 30           |                            | $      | 12,303 |   |   |   | $ | 9,340 |   |   |   | $ | 1,411 |   |   |   | $ | 125 |   |   | $ | 23,179 |   |
|                                             |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

| (a)  | Includes                only portions of the segment that are financial services                businesses.  |
|-----------|-------------------------------------------------------------------------------------------------------------------|
| (b)       | Balances                reflect the July 2005 business                reorganization.                             |

**Intangible      Assets Subject to Amortization**

|                                       | **At**                          |   |
|--------------------------------------------|---------------------------------|--------|
|                                       | **9/30/05**                     |   | **12/31/04** |   |
| *(In                millions)*             | **Gross****carrying****amount** |   | **Accumulated****amortization** |   | **Net** |   | **Gross****carrying****amount** |   | **Accumulated****amortization** |   | **Net** |   |
|                                       |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| PVFP                                       | $                               | 1,157  |   |   | $ | (450 | ) |   | $ | 707 |   | $ | 3,382 |   |   | $ | (1,956 | ) |   | $ | 1,426 |   |
| Capitalized                software        |                            | 1,652  |   |   |   | (941 | ) |   |   | 711 |   |   | 1,703 |   |   |   | (945 | ) |   |   | 758 |   |
| Patents,                licenses and other |                            | 429    |   |   |   | (254 | ) |   |   | 175 |   |   | 459 |   |   |   | (241 | ) |   |   | 218 |   |
| All                other                   |                            | 1,664  |   |   |   | (685 | ) |   |   | 979 |   |   | 4,739 |   |   |   | (4,037 | ) |   |   | 702 |   |
| Total                                      | $                               | 4,902  |   |   | $ | (2,330 | ) |   | $ | 2,572 |   | $ | 10,283 |   |   | $ | (7,179 | ) |   | $ | 3,104 |   |

----

|                                             | **Nine                months ended****September                30** |   |
|--------------------------------------------------|---------------------------------------------------------------------|--------|
| *(In                millions)*                   | **2005**                                                            |   | **2004** |   |
|                                             |                                                                |   |   |   |   |   |
| Balance                at January 1              | $                                                                   | 1,426  |   | $ | 1,562 |   |
| Accrued                interest(a)               |                                                                | 62     |   |   | 68 |   |
| Amortization                                     |                                                                | (146   | ) |   | (172 | ) |
| Genworth                deconsolidation (note 9) |                                                                | (664   | ) |   | - |   |
| Other                                            |                                                                | 29     |   |   | (20 | ) |
| Balance                at September 30           | $                                                                   | 707    |   | $ | 1,438 |   |
|                                             |                                                                |   |   |   |   |   |

| (a) | Interest                was accrued at a rate of 6.5% and 6.4% for the nine months ended                September                30, 2005 and 2004, respectively. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **2005** |   |   |   | **2006** |   |   |   | **2007** |   |   |   | **2008** |   |   |   | **2009** |   |
|--------|----------|--------|--------|--------|----------|--------|--------|--------|----------|--------|--------|--------|----------|--------|--------|--------|----------|--------|
|   |     |   |   |   |     |   |   |   |     |   |   |   |     |   |   |   |     |   |
|   | 6.6      | %      |   |   | 5.3      | %      |   |   | 4.3      | %      |   |   | 4.0      | %      |   |   | 3.7      | %      |

----

|                                                | **At**      |    |
|-----------------------------------------------------|-------------|---------|
| *(In                millions)*                      | **9/30/05** |    | **12/31/04** |   |
|                                                |        |    |   |   |   |   |
| **Short-term                borrowings**            |        |    |   |   |   |   |
|                                                |        |    |   |   |   |   |
| Commercial                paper                     |        |    |   |   |   |   |
| U.S.                                                |        |    |   |   |   |   |
| Unsecured                                           | $           | 60,325  |   | $ | 62,694 |   |
| Asset-backed(a)                                     |        | 10,347  |   |   | 13,842 |   |
| Non-U.S.                                            |        | 20,463  |   |   | 20,835 |   |
| Current                portion of long-term debt(b) |        | 32,422  |   |   | 37,530 |   |
| Other                                               |        | 17,814  |   |   | 19,890 |   |
| Total                                               |        | 141,371 |   |   | 154,791 |   |
|                                                |        |    |   |   |   |   |
| **Long-term                borrowings**             |        |    |   |   |   |   |
|                                                |        |    |   |   |   |   |
| Senior                notes                         |        |    |   |   |   |   |
| Unsecured                                           |        | 186,208 |   |   | 179,692 |   |
| Asset-backed(c)                                     |        | 7,399   |   |   | 10,939 |   |
| Extendible                notes(d)                  |        | 14,209  |   |   | 14,258 |   |
| Subordinated                notes(e)                |        | 3,178   |   |   | 1,119 |   |
| Total                                               |        | 210,994 |   |   | 206,008 |   |
| **Total                borrowings**                 | $           | 352,365 |   | $ | 360,799 |   |
|                                                |        |    |   |   |   |   |

| (a)  | Entirely                obligations of consolidated, liquidating securitization entities.                See note                8.                                                                                                                                                                                                          |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b)  | Included                short-term borrowings by consolidated, liquidating securitization                entities                of $772 million and $756 million at September 30, 2005, and                December                31, 2004, respectively.                                                                             |
| (c)  | Entirely                obligations of consolidated, liquidating securitization entities.                The                amounts related to AFIG, a December 2004 acquisition, were                $7,056 million and $9,769 million at September 30,                2005, and                December 31, 2004, respectively.  |
| (d)  | Included                obligations of consolidated, liquidating securitization entities                of $226                million and $267 million at September 30, 2005, and December                31,                2004, respectively.                                                                                       |
| (e)       | At                September 30, 2005, and December 31, 2004, subordinated notes of                $1.0 billion, issued between 1991 and 1995, were guaranteed                by                General Electric Company.                                                                                                                     |

|                                                        | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|-------------------------------------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                millions)*                              | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                                        |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Net                earnings                                 | $                                                                    | 2,685  |                                                                | $      | 2,253 |   | $ | 7,252 |   | $ | 5,747 |   |
| Investment                securities - net changes in value |                                                                 | (1,148 | )                                                                   |   | 1,471 |   |   | (566 | ) |   | (123 | ) |
| Currency                translation adjustments - net       |                                                                 | 243    |                                                                |   | (117 | ) |   | (2,015 | ) |   | (349 | ) |
| Cash                flow hedges - net changes in value      |                                                                 | 58     |                                                                |   | (253 | ) |   | 415 |   |   | 312 |   |
| Minimum                pension liabilities - net            |                                                                 | 5      |                                                                |   | - |   |   | (6 | ) |   | (7 | ) |
| Total                                                       | $                                                                    | 1,843  |                                                                | $      | 3,354 |   | $ | 5,080 |   | $ | 5,580 |   |

----

*Consolidation      of Variable Interest Entities*

|                                      | **At**      |   |
|-------------------------------------------|-------------|--------|
| *(In                millions)*            | **9/30/05** |   | **12/31/04** |   |
|                                      |        |   |   |   |   |   |
| Receivables                secured by     |        |   |   |   |   |   |
| Equipment                                 | $           | 13,180 |   | $ | 13,941 |   |
| Commercial                real estate     |        | 12,787 |   |   | 15,747 |   |
| Residential                real estate(a) |        | 8,225  |   |   | 9,094 |   |
| Other                assets               |        | 11,187 |   |   | 11,723 |   |
| Credit                card receivables    |        | 9,081  |   |   | 7,075 |   |
| Total                securitized assets   | $           | 54,460 |   | $ | 57,580 |   |

|                                       | **At**      |   |
|--------------------------------------------|-------------|--------|
| *(In                millions)*             | **9/30/05** |   | **12/31/04** |   |
|                                       |        |   |   |   |   |   |
| Off-balance                sheet(b)(c)     | $           | 33,626 |   | $ | 30,835 |   |
| On-balance                sheet - AFIG     |        | 7,197  |   |   | 9,094 |   |
| On-balance                sheet - other(d) |        | 13,637 |   |   | 17,651 |   |
| Total                securitized assets    | $           | 54,460 |   | $ | 57,580 |   |
|                                       |        |   |   |   |   |   |

| (a)  | Included                $7,197 million and $9,094 million related to AFIG at September 30,                2005                and December 31, 2004, respectively.                                                                                                                                                                                                                                                                                                                             |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b)  | At                September 30, 2005 and December 31, 2004, related liquidity support                amounted to $2,100 million and $2,300 million, respectively, net                of $3,900                million and $4,300 million, respectively, participated or deferred                beyond                one year. Related credit support amounted to $6,000 million and $6,600                million at September 30, 2005 and December 31, 2004,                respectively.  |
| (c)  | Liabilities                for recourse obligations related to off-balance sheet assets were                $0.1                billion at both September 30, 2005 and December 31, 2004.                                                                                                                                                                                                                                                                                                      |
| (d)       | At                September 30, 2005 and December 31, 2004, related liquidity support                amounted to $11,200 million and $14,400 million, respectively, net                of $300                million and $1,200 million, respectively, participated or deferred                beyond                one year. Related credit support amounted to $5,100 million and $6,900                million at September 30, 2005 and December 31, 2004,                respectively.       |

----

|                                                    | **At**      |   |
|---------------------------------------------------------|-------------|--------|
| *(In                millions)*                          | **9/30/05** |   | **12/31/04** |   |
|                                                    |        |   |   |   |   |   |
| Investment                securities                    | $           | 396    |   | $ | 1,147 |   |
| Financing                receivables - net (note 4)(a)  |        | 18,423 |   |   | 22,848 |   |
| Other                assets                             |        | 1,940  |   |   | 2,408 |   |
| Other,                principally insurance receivables |        | 75     |   |   | 342 |   |
| Total                                                   | $           | 20,834 |   | $ | 26,745 |   |
|                                                    |        |   |   |   |   |   |

| (a) | Included                $7,197 million and $9,094 million related to AFIG at September 30,                2005                and December 31, 2004,                respectively. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      2. **
**Management’s      Discussion and Analysis of Results of Operations and Financial      Condition**

**A.      Results of Operations**

**Restatement**

----

**Overview**

|                           | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|--------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                billions)* | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                           |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Acquisitions**               |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Revenues                       | $                                                                    | 0.6    |                                                                | $      | 0.8 |   | $ | 2.5 |   | $ | 2.6 |   |
| Net                earnings    |                                                                 | 0.1    |                                                                |   | 0.1 |   |   | 0.3 |   |   | 0.4 |   |
|                           |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Dispositions**               |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Revenues                       |                                                                 | -      |                                                                |   | (1.1 | ) |   | 0.2 |   |   | (3.3 | ) |
| Net                earnings    |                                                                 | 0.2    |                                                                |   | (0.5 | ) |   | 0.3 |   |   | (1.1 | ) |

----

**Segment      Operations**

** **

| **•** | Commercial                Finance - the combination of our previous Commercial Finance (excluding                Aviation Financial Services, Energy Financial Services and Transportation                Finance) and Insurance segments and GE Equity, previously reported                in the                Equipment & Other Services                segment |
|-------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | Consumer                Finance - unchanged |
|-------------|---------------------------------------------|

| **•** | Healthcare                - unchanged |
|-------------|---------------------------------------|

| **•** | Industrial                - the combination of our previous Consumer & Industrial and Advanced                Materials segments, the Security, Sensing and Fanuc Automation businesses                of our previous Infrastructure segment, the Inspection Technologies                business of our previous Transportation segment and Equipment Services,                previously reported in the Equipment & Other Services                segment |
|-------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | Infrastructure                - the combination of our previous Energy and Transportation segments,                the                Water business of our previous Infrastructure segment, and Aviation                Financial Services, Energy Financial Services and Transportation                Finance                of our previous Commercial Finance                segment |
|-------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **•** | NBC                Universal - unchanged |
|-------------|------------------------------------------|

----

**Consolidated**

|                                                            | **Three                months ended****September                30** |    | **Nine                months ended****September                30** |   |
|-----------------------------------------------------------------|----------------------------------------------------------------------|---------|---------------------------------------------------------------------|--------|
| *(In                millions)*                                  | **2005**                                                             |    | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                                            |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Revenues**                                                    |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| GE                Commercial Finance                            | $                                                                    | 12,190  |                                                                | $      | 10,496 |   | $ | 34,531 |   | $ | 31,207 |   |
| GE                Consumer Finance                              |                                                                 | 4,913   |                                                                |   | 4,011 |   |   | 14,530 |   |   | 11,430 |   |
| GE                Industrial                                    |                                                                 | 8,257   |                                                                |   | 7,635 |   |   | 24,178 |   |   | 22,344 |   |
| GE                Infrastructure                                |                                                                 | 10,128  |                                                                |   | 9,074 |   |   | 29,723 |   |   | 26,496 |   |
| GECS                corporate items and eliminations            |                                                                 | 231     |                                                                |   | 289 |   |   | 656 |   |   | 1,010 |   |
| Total                revenues                                   |                                                                 | 35,719  |                                                                |   | 31,505 |   |   | 103,618 |   |   | 92,487 |   |
| Less                portion of GE revenues not included in GECS |                                                                 | (15,294 | )                                                                   |   | (13,892 | ) |   | (45,234 | ) |   | (40,810 | ) |
| Total                revenues in GECS                           | $                                                                    | 20,425  |                                                                | $      | 17,613 |   | $ | 58,384 |   | $ | 51,677 |   |
|                                                            |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Segment                profit**                               |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| GE                Commercial Finance                            | $                                                                    | 1,451   |                                                                | $      | 1,135 |   | $ | 3,916 |   | $ | 3,072 |   |
| GE                Consumer Finance                              |                                                                 | 810     |                                                                |   | 681 |   |   | 2,280 |   |   | 1,883 |   |
| GE                Industrial                                    |                                                                 | 629     |                                                                |   | 402 |   |   | 1,790 |   |   | 1,220 |   |
| GE                Infrastructure                                |                                                                 | 1,880   |                                                                |   | 1,608 |   |   | 5,336 |   |   | 4,701 |   |
| Total                segment profit                             |                                                                 | 4,770   |                                                                |   | 3,826 |   |   | 13,322 |   |   | 10,876 |   |
| GECS                corporate items and eliminations            |                                                                 | (25     | )                                                                   |   | 156 |   |   | (100 | ) |   | 42 |   |
| Less                portion of GE profit not included in GECS   |                                                                 | (2,060  | )                                                                   |   | (1,729 | ) |   | (5,970 | ) |   | (5,171 | ) |
| Total                net earnings in GECS                       | $                                                                    | 2,685   |                                                                | $      | 2,253 |   | $ | 7,252 |   | $ | 5,747 |   |

----

**GE      Commercial Finance**

|                              | **Three                months ended****September                30** |    | **Nine                months ended****September                30** |   |
|-----------------------------------|----------------------------------------------------------------------|---------|---------------------------------------------------------------------|--------|
| *(In                millions)*    | **2005**                                                             |    | **2004**                                                            |   | **2005** |   | **2004** |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Revenues**                      | $                                                                    | 12,190  |                                                                | $      | 10,496 |   | $ | 34,531 |   | $ | 31,207 |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Net                revenues**   |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| Total                revenues     | $                                                                    | 12,190  |                                                                | $      | 10,496 |   | $ | 34,531 |   | $ | 31,207 |   |
| Interest                expense   |                                                                 | 1,575   |                                                                |   | 1,288 |   |   | 4,702 |   |   | 3,732 |   |
| Total                net revenues | $                                                                    | 10,615  |                                                                | $      | 9,208 |   | $ | 29,829 |   | $ | 27,475 |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Segment                profit** | $                                                                    | 1,451   |                                                                | $      | 1,135 |   | $ | 3,916 |   | $ | 3,072 |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
|                              | **At**                                                               |    |                                                                |   |   |
| *(In                millions)*    | **9/30/05**                                                          |    | **9/30/04**                                                         |   | **12/31/04** |   |   |   |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Total                assets**   | $                                                                    | 276,272 |                                                                | $      | 353,112 |   | $ | 363,593 |   |   |   |   |

|                                | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|-------------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                millions)*      | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Revenues                in GE       |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Capital                Solutions    | $                                                                    | 2,834  |                                                                | $      | 2,877 |   | $ | 8,579 |   | $ | 8,377 |   |
| Insurance                           |                                                                 | 6,776  |                                                                |   | 5,544 |   |   | 19,116 |   |   | 17,051 |   |
| Real                Estate          |                                                                 | 1,022  |                                                                |   | 730 |   |   | 2,664 |   |   | 2,190 |   |
|                                |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Segment                profit in GE |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Capital                Solutions    | $                                                                    | 444    |                                                                | $      | 351 |   | $ | 1,055 |   | $ | 870 |   |
| Insurance                           |                                                                 | 239    |                                                                |   | 120 |   |   | 906 |   |   | 583 |   |
| Real                Estate          |                                                                 | 343    |                                                                |   | 243 |   |   | 893 |   |   | 750 |   |
|                                |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
|                                | **At**                                                               |   |                                                                |   |   |
| *(In                millions)*      | **9/30/05**                                                          |   | **9/30/04**                                                         |   | **12/31/04** |   |   |   |   |
|                                |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Total                assets in GE   |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Capital                Solutions    | $                                                                    | 83,724 |                                                                | $      | 76,720 |   | $ | 80,514 |   |   |   |   |
| Insurance                           |                                                                 | 93,134 |                                                                |   | 176,265 |   |   | 179,205 |   |   |   |   |
| Real                Estate          |                                                                 | 34,845 |                                                                |   | 37,736 |   |   | 39,515 |   |   |   |   |

----

**GE      Consumer Finance**

|                              | **Three                months ended****September                30** |    | **Nine                months ended****September                30** |   |
|-----------------------------------|----------------------------------------------------------------------|---------|---------------------------------------------------------------------|--------|
| *(In                millions)*    | **2005**                                                             |    | **2004**                                                            |   | **2005** |   | **2004** |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Revenues**                      | $                                                                    | 4,913   |                                                                | $      | 4,011 |   | $ | 14,530 |   | $ | 11,430 |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Net                revenues**   |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| Total                revenues     | $                                                                    | 4,913   |                                                                | $      | 4,011 |   | $ | 14,530 |   | $ | 11,430 |   |
| Interest                expense   |                                                                 | 1,364   |                                                                |   | 908 |   |   | 4,060 |   |   | 2,525 |   |
| Total                net revenues | $                                                                    | 3,549   |                                                                | $      | 3,103 |   | $ | 10,470 |   | $ | 8,905 |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Segment                profit** | $                                                                    | 810     |                                                                | $      | 681 |   | $ | 2,280 |   | $ | 1,883 |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
|                              | **At**                                                               |    |                                                                |   |   |
| *(In                millions)*    | **9/30/05**                                                          |    | **9/30/04**                                                         |   | **12/31/04** |   |   |   |   |
|                              |                                                                 |    |                                                                |   |   |   |   |   |   |   |   |   |
| **Total                assets**   | $                                                                    | 153,315 |                                                                | $      | 122,190 |   | $ | 151,255 |   |   |   |   |

----

**GE      Industrial**

|                                         | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|----------------------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                millions)*               | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Revenues**                                 | $                                                                    | 8,257  |                                                                | $      | 7,635 |   | $ | 24,178 |   | $ | 22,344 |   |
| Less                portion of GE Industrial |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| not                included in GECS          |                                                                 | (6,548 | )                                                                   |   | (5,970 | ) |   | (19,243 | ) |   | (17,500 | ) |
| Total                revenues in GECS        | $                                                                    | 1,709  |                                                                | $      | 1,665 |   | $ | 4,935 |   | $ | 4,844 |   |
|                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Segment                profit**            | $                                                                    | 629    |                                                                | $      | 402 |   | $ | 1,790 |   | $ | 1,220 |   |
| Less                portion of GE Industrial |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| not                included in GECS          |                                                                 | (563   | )                                                                   |   | (372 | ) |   | (1,678 | ) |   | (1,193 | ) |
| Total                segment profit in GECS  | $                                                                    | 66     |                                                                | $      | 30 |   | $ | 112 |   | $ | 27 |   |
|                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Revenues                in GE                |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Consumer                & Industrial     | $                                                                    | 3,522  |                                                                | $      | 3,423 |   | $ | 10,359 |   | $ | 10,010 |   |
| Equipment                Services            |                                                                 | 1,709  |                                                                |   | 1,665 |   |   | 4,935 |   |   | 4,844 |   |
| Plastics                                     |                                                                 | 1,663  |                                                                |   | 1,485 |   |   | 4,951 |   |   | 4,351 |   |
|                                         |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Segment                profit in GE          |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Consumer                & Industrial     | $                                                                    | 196    |                                                                | $      | 163 |   | $ | 588 |   | $ | 516 |   |
| Equipment                Services            |                                                                 | 66     |                                                                |   | 30 |   |   | 112 |   |   | 27 |   |
| Plastics                                     |                                                                 | 197    |                                                                |   | 94 |   |   | 645 |   |   | 346 |   |

----

**GE      Infrastructure**

|                                             | **Three                months ended****September                30** |   | **Nine                months ended****September                30** |   |
|--------------------------------------------------|----------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|
| *(In                millions)*                   | **2005**                                                             |   | **2004**                                                            |   | **2005** |   | **2004** |   |
|                                             |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Revenues**                                     | $                                                                    | 10,128 |                                                                | $      | 9,074 |   | $ | 29,723 |   | $ | 26,496 |   |
| Less                portion of GE Infrastructure |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| not                included in GECS              |                                                                 | (8,746 | )                                                                   |   | (7,922 | ) |   | (25,991 | ) |   | (23,310 | ) |
| Total                revenues in GECS            | $                                                                    | 1,382  |                                                                | $      | 1,152 |   | $ | 3,732 |   | $ | 3,186 |   |
|                                             |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| **Segment                profit**                | $                                                                    | 1,880  |                                                                | $      | 1,608 |   | $ | 5,336 |   | $ | 4,701 |   |
| Less                portion of GE Infrastructure |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| not                included in GECS              |                                                                 | (1,497 | )                                                                   |   | (1,357 | ) |   | (4,292 | ) |   | (3,978 | ) |
| Total                segment profit in GECS      | $                                                                    | 383    |                                                                | $      | 251 |   | $ | 1,044 |   | $ | 723 |   |
|                                             |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Revenues                in GE                    |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Aviation(a)                                      | $                                                                    | 3,007  |                                                                | $      | 2,667 |   | $ | 8,568 |   | $ | 7,916 |   |
| Aviation                Financial Services       |                                                                 | 964    |                                                                |   | 792 |   |   | 2,600 |   |   | 2,284 |   |
| Energy                                           |                                                                 | 3,681  |                                                                |   | 3,417 |   |   | 11,516 |   |   | 10,186 |   |
| Energy                Financial Services         |                                                                 | 379    |                                                                |   | 301 |   |   | 989 |   |   | 772 |   |
| Oil                & Gas                     |                                                                 | 906    |                                                                |   | 790 |   |   | 2,310 |   |   | 2,155 |   |
| Rail                                             |                                                                 | 910    |                                                                |   | 733 |   |   | 2,558 |   |   | 2,131 |   |
|                                             |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Segment                profit in GE              |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |
| Aviation(a)                                      | $                                                                    | 604    |                                                                | $      | 518 |   | $ | 1,821 |   | $ | 1,529 |   |
| Aviation                Financial Services       |                                                                 | 195    |                                                                |   | 76 |   |   | 543 |   |   | 353 |   |
| Energy                                           |                                                                 | 584    |                                                                |   | 553 |   |   | 1,786 |   |   | 1,741 |   |
| Energy                Financial Services         |                                                                 | 177    |                                                                |   | 146 |   |   | 450 |   |   | 319 |   |
| Oil                & Gas                     |                                                                 | 107    |                                                                |   | 98 |   |   | 209 |   |   | 208 |   |
| Rail                                             |                                                                 | 161    |                                                                |   | 140 |   |   | 344 |   |   | 363 |   |
|                                             |                                                                 |   |                                                                |   |   |   |   |   |   |   |   |   |

| (a) | Previously                referred to as GE Aircraft Engines. |
|-----|---------------------------------------------------------------|

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**B.      Statement of Financial Position**

**Overview      of Financial Position**

| • | During                2005, we completed acquisitions of the Transportation Financial Services                Group of CitiCapital; the Inventory Finance division of Bombardier                Capital; and ING’s portion of Heller AG. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| • | At                the end of the second quarter of 2005, we completed the previously                announced sale of Medical Protective Corporation, formerly a wholly-owned                subsidiary providing medical professional liability insurance, to                Columbia                Insurance, a unit of Berkshire Hathaway. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| • | The                U.S. dollar was slightly stronger at September 30, 2005, than it                was at                December 31, 2004, slightly reducing the translated levels of our                non-U.S.                dollar assets and liabilities. However, on average, the U.S. dollar                has                been weaker in 2005 than during the comparable 2004 period, resulting                in                increases in reported levels of non-U.S. dollar operations. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| • | On                September 27, 2005, we reduced our ownership of Genworth Financial,                Inc.                (Genworth) to 27%, a level of investment that is reported as an associated                company. As an associated company, our ongoing interest in Genworth                operating results as well as our $3.2 billion remaining net investment                at                September 30, 2005, were each presented on a one-line basis. On our                September 30, 2005, Condensed Statement of Financial Position, one-line                display of the net assets and liabilities reduced total assets by                $83.4                billion. The most significant effects of this reduction were a decrease                in                investment securities ($54.1 billion) and insurance receivables ($10.5                billion) that affected our consolidated assets, and a decrease in                insurance liabilities, reserves and annuity benefits ($61.9 billion)                that                affected our consolidated                liabilities. |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**Investment      securities**

**Financing      receivables **

----

|                                 | **Delinquency                rates at** |    |
|--------------------------------------|-----------------------------------------|---------|
|                                 | **9/30/05**                             | **(a)** |   | **12/31/04** |   |   | **9/30/04** |   |
|                                 |                                    |    |   |   |   |   |   |   |
| GE                Commercial Finance | 1.24                                    | %       |   | 1.40 | % |   | 1.62 | % |
| GE                Consumer Finance   | 5.23                                    |    |   | 4.85 |   |   | 5.56 |   |
|                                 |                                    |    |   |   |   |   |   |   |

| (a) | Subject                to update. |
|-----|-----------------------------------|

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**C.      Additional Considerations**

**Commercial      Aviation**

**D.      Debt Instruments**

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|                                                  | **At**      |   |
|-------------------------------------------------------|-------------|--------|
|                                                  | **9/30/05** |   | **12/31/04** |   |
|                                                  |        |   |   |   |   |   |   |   |
| Senior                notes and other long-term debt  |        | 61     | % |   |   | 58 | % |   |
| Commercial                paper                       |        | 24     |   |   |   | 25 |   |   |
| Current                portion of long-term debt      |        | 10     |   |   |   | 11 |   |   |
| Other                - bank and other retail deposits |        | 5      |   |   |   | 6 |   |   |
| Total                                                 |        | 100    | % |   |   | 100 | % |   |

**Item      4. **
**Controls      and Procedures**

**Part      II. Other Information**

**Item      1. **
**Legal Proceedings**

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**Item      6. **
**Exhibits**

|   | Exhibit                12     | Computation                of Ratio of Earnings to Fixed Charges and Computation of Ratio of                Earnings                to Combined Fixed Charges and Preferred Stock Dividends.  |
|--------|------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Exhibit                31(a)  | Certification                Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange                Act of 1934, as Amended.                                                  |
|   | Exhibit                31(b)  | Certification                Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange                Act of 1934, as Amended.                                                  |
|   | Exhibit                32     | Certification                Pursuant to 18 U.S.C. Section 1350.                                                                                                                              |
|   | Exhibit                99     | Financial                Measures that Supplement Generally Accepted Accounting                Principles.                                                                                    |

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**Signatures**

| General                Electric Capital Services, Inc. (Registrant)    |
|--------------------------------------------------------------------------------------------|
| October                24, 2005                                                            |   | /s/                Philip D. Ameen |   |
| Date                                                                                       |   | Philip                D. AmeenSenior                Vice President and ControllerDuly                Authorized Officer and Principal Accounting                Officer |

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