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

| (MarkOne)                                                                                              |                                                                                              |   |   |   |
|--------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|--------|--------|--------|
| þ                                                                                                 | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF                                          |
|                                                                                                   | THE      SECURITIES EXCHANGE ACT OF 1934                                                          |
|                                                                                                   |
| For      the quarterly period ended September      30, 2008                                            |
| OR                                                                                                     |
| ¨                                                                                                 | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE      SECURITIES EXCHANGE ACT OF 1934 |
|                                                                                                   |
| For      the transition period from ___________to ___________                                          |
| _____________________________ Commission      file number 0-14804_____________________________    |
|                                                                                                   |
| GENERAL ELECTRIC      CAPITAL SERVICES, INC.(Exact      name of registrant as specified in itscharter) |

| Delaware                                                            |   | 06-1109503                                |
|---------------------------------------------------------------------|--------|-------------------------------------------|
| (State      or other jurisdiction of incorporation or organization) |   | (I.R.S.      Employer Identification No.) |
|                                                                |   |                                      |
| 3135      Easton Turnpike, Fairfield, Connecticut                   |   | 06828-0001                                |
| (Address      of principal executive offices)                       |   | (Zip      Code)                           |

| Large      accelerated filer ¨  | Accelerated      filer ¨ | Non-accelerated      filer þ | Smaller      reporting company ¨ |
|-------------------------------------------|-------------------------------|-----------------------------------|---------------------------------------|

----

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 Financial Condition and Results of      Operations |   | 19 |
| Item      3.                              | Quantitative      and Qualitative Disclosures About Market Risk                                       |   | 32 |
| Item      4.                              | Controls      and Procedures                                                                          |   | 32 |
|                                      |                                                                                                  |   |   |
| Part      II – Other Information    |                                                                                                  |   |
|                                      |                                                                                                  |   |   |
| Item      1.                              | Legal      Proceedings                                                                                |   | 32 |
| Item      1A.                             | Risk      Factors                                                                                     |   | 33 |
| Item      6.                              | Exhibits                                                                                              |   | 36 |
| Signatures                                |                                                                                                  | 37     |

----

|                                                      | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|-----------------------------------------------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)                                        | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                                                      |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues                                                  |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues      from services (Note 3)                      | $                                        | 17,852 |                                    | $      | 17,789 |   | $ | 54,027 |   | $ | 52,308 |   |
| Sales      of goods                                       |                                     | 579    |                                    |   | 277 |   |   | 1,474 |   |   | 337 |   |
| Total revenues                                            |                                     | 18,431 |                                    |   | 18,066 |   |   | 55,501 |   |   | 52,645 |   |
|                                                      |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Costs      and expenses                                   |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Interest                                                  |                                     | 6,723  |                                    |   | 5,780 |   |   | 19,242 |   |   | 16,478 |   |
| Operating      and administrative                         |                                     | 4,730  |                                    |   | 4,696 |   |   | 14,233 |   |   | 13,595 |   |
| Cost      of goods sold                                   |                                     | 486    |                                    |   | 236 |   |   | 1,264 |   |   | 284 |   |
| Investment      contracts, insurance losses and insurance |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| annuitybenefits                                           |                                     | 839    |                                    |   | 889 |   |   | 2,557 |   |   | 2,744 |   |
| Provision      for losses on financing receivables        |                                     | 1,641  |                                    |   | 1,190 |   |   | 4,453 |   |   | 3,132 |   |
| Depreciation      and amortization                        |                                     | 2,363  |                                    |   | 1,998 |   |   | 6,629 |   |   | 5,854 |   |
| Minority      interest in net earnings of consolidated    |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| affiliates                                                |                                     | 96     |                                    |   | 54 |   |   | 184 |   |   | 189 |   |
| Total costs and      expenses                             |                                     | 16,878 |                                    |   | 14,843 |   |   | 48,562 |   |   | 42,276 |   |
|                                                      |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Earnings      from continuing operations before           |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| income taxes                                              |                                     | 1,553  |                                    |   | 3,223 |   |   | 6,939 |   |   | 10,369 |   |
| Benefit      (provision) for income taxes                 |                                     | 457    |                                    |   | (4 | ) |   | 301 |   |   | (1,327 | ) |
|                                                      |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Earnings      from continuing operations                  |                                     | 2,010  |                                    |   | 3,219 |   |   | 7,240 |   |   | 9,042 |   |
| Loss      from discontinued operations, net of            |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| taxes (Note 2)                                            |                                     | (170   | )                                       |   | (1,352 | ) |   | (568 | ) |   | (1,986 | ) |
|                                                      |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Net      earnings                                         |                                     | 1,840  |                                    |   | 1,867 |   |   | 6,672 |   |   | 7,056 |   |
| Dividends                                                 |                                     | (272   | )                                       |   | (1,225 | ) |   | (2,291 | ) |   | (6,029 | ) |
| Retained      earnings at beginning of period             |                                     | 41,164 |                                    |   | 35,885 |   |   | 38,351 |   |   | 35,500 |   |
| Retained      earnings at end of period                   | $                                        | 42,732 |                                    | $      | 36,527 |   | $ | 42,732 |   | $ | 36,527 |   |
|                                                      |                                     |   |                                    |   |   |   |   |   |   |   |   |   |

----

Position

| (In      millions)                                                                   | September      30,2008 |    | December      31,2007 |
|--------------------------------------------------------------------------------------|------------------------|---------|-----------------------|
|                                                                                 | (Unaudited)            |    |                  |
| Assets                                                                               |                   |    |                  |   |   |   |
| Cash      and equivalents                                                            | $                      | 13,075  |                  | $ | 9,439 |   |
| Investment      securities                                                           |                   | 43,188  |                  |   | 44,941 |   |
| Inventories                                                                          |                   | 73      |                  |   | 63 |   |
| Financing      receivables – net (Notes 5 and 6)                               |                   | 421,788 |                  |   | 384,067 |   |
| Other      receivables                                                               |                   | 21,072  |                  |   | 22,078 |   |
| Property,      plant and equipment, less accumulated amortization of    $28,931      |                   |    |                  |   |   |   |
| and $24,477                                                                          |                   | 65,779  |                  |   | 63,746 |   |
| Goodwill      (Note 7)                                                               |                   | 26,319  |                  |   | 25,427 |   |
| Other      intangible assets – net (Note 7)                                    |                   | 4,192   |                  |   | 4,509 |   |
| Other      assets                                                                    |                   | 81,628  |                  |   | 83,392 |   |
| Assets      of discontinued operations (Note 2)                                      |                   | 1,238   |                  |   | 8,823 |   |
| Total      assets                                                                    | $                      | 678,352 |                  | $ | 646,485 |   |
|                                                                                 |                   |    |                  |   |   |   |
| Liabilities      and equity                                                          |                   |    |                  |   |   |   |
| Short-term      borrowings (Note 8)                                                  | $                      | 215,409 |                  | $ | 192,420 |   |
| Accounts      payable                                                                |                   | 13,952  |                  |   | 14,714 |   |
| Long-term      borrowings (Note 8)                                                   |                   | 321,019 |                  |   | 308,502 |   |
| Investment      contracts, insurance liabilities and insurance annuity      benefits |                   | 34,886  |                  |   | 34,359 |   |
| Other      liabilities                                                               |                   | 23,951  |                  |   | 26,522 |   |
| Deferred      income taxes                                                           |                   | 10,327  |                  |   | 9,099 |   |
| Liabilities      of discontinued operations (Note 2)                                 |                   | 743     |                  |   | 1,692 |   |
| Totalliabilities                                                                     |                   | 620,287 |                  |   | 587,308 |   |
|                                                                                 |                   |    |                  |   |   |   |
| Minority      interest in equity of consolidated affiliates                          |                   | 2,367   |                  |   | 1,501 |   |
|                                                                                 |                   |    |                  |   |   |   |
| Capital      stock                                                                   |                   | 11      |                  |   | 11 |   |
| Accumulated      gains (losses) – net                                          |                   |    |                  |   |   |   |
| Investment      securities                                                           |                   | (2,251  | )                     |   | 110 |   |
| Currency translation      adjustments                                                |                   | 4,816   |                  |   | 7,472 |   |
| Cash flow hedges                                                                     |                   | (2,096  | )                     |   | (727 | ) |
| Benefit plans                                                                        |                   | (84     | )                     |   | (105 | ) |
| Additional      paid-in capital                                                      |                   | 12,570  |                  |   | 12,564 |   |
| Retained      earnings                                                               |                   | 42,732  |                  |   | 38,351 |   |
| Total shareowner’s      equity                                                 |                   | 55,698  |                  |   | 57,676 |   |
| Total      liabilities and equity                                                    | $                      | 678,352 |                  | $ | 646,485 |   |
|                                                                                 |                   |    |                  |   |   |   |

----

|                                                                                       | Nine      months endedSeptember      30 |     |
|--------------------------------------------------------------------------------------------|-----------------------------------------|----------|
| (In      millions)                                                                         | 2008                                    |     | 2007 |   |
|                                                                                       |                                    |     |   |   |   |   |
| Cash      flows – operating activities                                               |                                    |     |   |   |   |   |
| Net      earnings                                                                          | $                                       | 6,672    |   | $ | 7,056 |   |
| Loss      from discontinued operations                                                     |                                    | 568      |   |   | 1,986 |   |
| Adjustments      to reconcile net earnings to cash provided from operating      activities |                                    |     |   |   |   |   |
| Depreciation and amortization of      property, plant and equipment                        |                                    | 6,629    |   |   | 5,854 |   |
| Decrease in accounts      payable                                                          |                                    | (669     | ) |   | (1,359 | ) |
| Provision for losses on      financing receivables                                         |                                    | 4,453    |   |   | 3,132 |   |
| All other operating      activities                                                        |                                    | 491      |   |   | (2,454 | ) |
| Cash      from operating activities – continuing operations                          |                                    | 18,144   |   |   | 14,215 |   |
| Cash      from operating activities – discontinued operations                        |                                    | 506      |   |   | 4,757 |   |
| Cash      from operating activities                                                        |                                    | 18,650   |   |   | 18,972 |   |
|                                                                                       |                                    |     |   |   |   |   |
| Cash      flows – investing activities                                               |                                    |     |   |   |   |   |
| Additions      to property, plant and equipment                                            |                                    | (9,468   | ) |   | (10,334 | ) |
| Dispositions      of property, plant and equipment                                         |                                    | 7,286    |   |   | 7,218 |   |
| Increase      in loans to customers                                                        |                                    | (294,232 | ) |   | (263,798 | ) |
| Principal      collections from customers – loans                                    |                                    | 268,873  |   |   | 237,354 |   |
| Investment      in equipment for financing leases                                          |                                    | (18,464  | ) |   | (19,556 | ) |
| Principal      collections from customers – financing leases                         |                                    | 18,316   |   |   | 18,057 |   |
| Net      change in credit card receivables                                                 |                                    | (2,852   | ) |   | 3,281 |   |
| Payments      for principal businesses purchased                                           |                                    | (24,989  | ) |   | (7,522 | ) |
| Proceeds      from sale of discontinued operations                                         |                                    | 5,220    |   |   | – |   |
| Proceeds      from principal business dispositions                                         |                                    | 4,422    |   |   | 1,102 |   |
| All      other investing activities                                                        |                                    | (2,948   | ) |   | (4,519 | ) |
| Cash      used for investing activities – continuing operations                      |                                    | (48,836  | ) |   | (38,717 | ) |
| Cash      used for investing activities – discontinued operations                    |                                    | (625     | ) |   | (4,777 | ) |
| Cash      used for investing activities                                                    |                                    | (49,461  | ) |   | (43,494 | ) |
|                                                                                       |                                    |     |   |   |   |   |
| Cash      flows – financing activities                                               |                                    |     |   |   |   |   |
| Net      decrease in borrowings (maturities of 90 days or less)                            |                                    | (16,949  | ) |   | (8,467 | ) |
| Newly      issued debt                                                                     |                                    |     |   |   |   |   |
| Short-term (91 to 365      days)                                                           |                                    | 26,982   |   |   | 815 |   |
| Long-term (longer than one      year)                                                      |                                    | 72,133   |   |   | 75,995 |   |
| Non-recourse, leveraged      lease                                                         |                                    | 113      |   |   | 24 |   |
| Repayments      and other debt reductions                                                  |                                    |     |   |   |   |   |
| Short-term (91 to 365      days)                                                           |                                    | (41,793  | ) |   | (32,252 | ) |
| Long-term (longer than one      year)                                                      |                                    | (2,593   | ) |   | (3,697 | ) |
| Non-recourse, leveraged      lease                                                         |                                    | (524     | ) |   | (681 | ) |
| Dividends      paid to shareowner                                                          |                                    | (2,291   | ) |   | (5,871 | ) |
| All      other financing activities                                                        |                                    | (750     | ) |   | (1,068 | ) |
| Cash      from financing activities – continuing operations                          |                                    | 34,328   |   |   | 24,798 |   |
| Cash      used for financing activities – discontinued operations                    |                                    | (4       | ) |   | (5 | ) |
| Cash      from financing activities                                                        |                                    | 34,324   |   |   | 24,793 |   |
|                                                                                       |                                    |     |   |   |   |   |
| Increase      in cash and equivalents                                                      |                                    | 3,513    |   |   | 271 |   |
| Cash      and equivalents at beginning of year                                             |                                    | 9,739    |   |   | 12,629 |   |
| Cash      and equivalents at September 30                                                  |                                    | 13,252   |   |   | 12,900 |   |
| Less      cash and equivalents of discontinued operations at September      30             |                                    | 177      |   |   | 165 |   |
| Cash      and equivalents of continuing operations at September 30                         | $                                       | 13,075   |   | $ | 12,735 |   |
|                                                                                       |                                    |     |   |   |   |   |

----

----

----

|                                          | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|-----------------------------------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)                            | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                                          |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Operations                                    |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Total      revenues                           | $                                        | 202    |                                    | $      | (133 | ) | $ | 696 |   | $ | (274 | ) |
|                                          |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Loss      from discontinued operations before |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| income taxes                                  | $                                        | (207   | )                                       | $      | (615 | ) | $ | (516 | ) | $ | (1,929 | ) |
| Income      tax benefit                       |                                     | 50     |                                    |   | 184 |   |   | 193 |   |   | 863 |   |
| Loss      from discontinued operations,       |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| net of taxes                                  | $                                        | (157   | )                                       | $      | (431 | ) | $ | (323 | ) | $ | (1,066 | ) |
|                                          |                                     |   |                                    |   |   |   |   |   |   |   |   |   |

| Disposal                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Loss      on disposal before income taxes            | $      | (1,277 | )      | $      | (1,549 | )      | $      | (1,499 | )      | $      | (1,560 | )      |
| Income      tax benefit                              |   | 1,264  |   |   | 628    |   |   | 1,254  |   |   | 640    |   |
| Loss      on disposal, net of taxes                  | $      | (13    | )      | $      | (921   | )      | $      | (245   | )      | $      | (920   | )      |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss      from discontinued operations, net of taxes | $      | (170   | )      | $      | (1,352 | )      | $      | (568   | )      | $      | (1,986 | )      |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |

|                                   | At                     |
|----------------------------------------|------------------------|
| (In      millions)                     | September      30,2008 |   | December      31,2007 |
|                                   |                   |   |   |   |   |   |
| Assets                                 |                   |   |   |   |   |   |
| Cash      and equivalents              | $                      | 177 |   | $ | 300 |   |
| Financing      receivables – net |                   | – |   |   | 6,675 |   |
| Other                                  |                   | 1,061 |   |   | 1,848 |   |
| Assets      of discontinued operations | $                      | 1,238 |   | $ | 8,823 |   |
|                                   |                   |   |   |   |   |   |

|                                        | At                     |
|---------------------------------------------|------------------------|
| (In      millions)                          | September      30,2008 |   | December      31,2007 |
|                                        |                   |   |   |   |   |   |
| Liabilities                                 |                   |   |   |   |   |   |
| Liabilities      of discontinued operations | $                      | 743 |   | $ | 1,692 |   |
|                                        |                   |   |   |   |   |   |

----

|                                         | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|----------------------------------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)                           | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                                         |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Interest      on loans                       | $                                        | 7,198  |                                    | $      | 6,075 |   | $ | 20,426 |   | $ | 17,438 |   |
| Equipment      leased to others              |                                     | 3,967  |                                    |   | 3,754 |   |   | 11,686 |   |   | 11,207 |   |
| Fees                                         |                                     | 1,989  |                                    |   | 1,661 |   |   | 4,798 |   |   | 4,871 |   |
| Investment      income(a)                    |                                     | 604    |                                    |   | 1,016 |   |   | 2,562 |   |   | 3,630 |   |
| Financing      leases                        |                                     | 1,107  |                                    |   | 1,136 |   |   | 3,456 |   |   | 3,489 |   |
| Real      estate investments                 |                                     | 803    |                                    |   | 1,364 |   |   | 3,102 |   |   | 3,420 |   |
| Premiums      earned by insurance activities |                                     | 554    |                                    |   | 583 |   |   | 1,664 |   |   | 1,653 |   |
| Associated      companies                    |                                     | 560    |                                    |   | 663 |   |   | 1,676 |   |   | 1,678 |   |
| Gross      securitization gains              |                                     | 265    |                                    |   | 368 |   |   | 859 |   |   | 1,479 |   |
| Other      items                             |                                     | 805    |                                    |   | 1,169 |   |   | 3,798 |   |   | 3,443 |   |
| Total                                        | $                                        | 17,852 |                                    | $      | 17,789 |   | $ | 54,027 |   | $ | 52,308 |   |
|                                         |                                     |   |                                    |   |   |   |   |   |   |   |   |   |

| (a) | Included      gain on sale of Swiss Reinsurance Company common stock of $566 million      during first quarter of 2007. |   |
|-----|-------------------------------------------------------------------------------------------------------------------------|--------|

|                                                              | At                     |
|-------------------------------------------------------------------|------------------------|
| (In      millions)                                                | September      30,2008 |   | December      31,2007 |
|                                                              |                   |   |   |   |   |   |
| Unrecognized      tax benefits                                    | $                      | 4,158 |   | $ | 3,906 |   |
| Portion that, if recognized,      would reduce tax expense and    |                   |   |   |   |   |   |
| effective tax rate(a)                                             |                   | 2,423 |   |   | 2,475 |   |
| Accrued      interest on unrecognized tax benefits                |                   | 859 |   |   | 670 |   |
| Accrued      penalties on unrecognized tax benefits               |                   | 71 |   |   | 55 |   |
| Reasonably      possible reduction to the balance of unrecognized |                   |   |   |   |   |   |
| tax benefits in succeeding 12      months                         |                   | 0-1,000 |   |   | 0-1,000 |   |
| Portion that, if recognized,      would reduce tax expense        |                   | 0-650 |   |   | 0-750 |   |
| and effective tax rate(a)                                         |                   |   |   |   |   |   |
|                                                              |                   |   |   |   |   |   |

| (a) | Some      portion of such reduction might be reported as discontinued      operations. |   |
|-----|----------------------------------------------------------------------------------------|--------|

----

|                                                        | At                     |
|-------------------------------------------------------------|------------------------|
| (In      millions)                                          | September      30,2008 |   | December      31,2007 |
|                                                        |                   |   |   |   |   |   |
| Loans,      net of deferred income                          | $                      | 352,949 |   | $ | 313,290 |   |
| Investment      in financing leases, net of deferred income |                   | 73,487 |   |   | 75,015 |   |
|                                                        |                   | 426,436 |   |   | 388,305 |   |
| Less      allowance for losses (Note 6)                     |                   | (4,648 | ) |   | (4,238 | ) |
| Financing      receivables – net(a)                   | $                      | 421,788 |   | $ | 384,067 |   |
|                                                        |                   |   |   |   |   |   |

| (a) | Included      $7,172 million and $9,708 million related to consolidated, liquidating      securitization entities at September 30, 2008, and December 31, 2007,      respectively. |   |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|                                           | At                     |
|------------------------------------------------|------------------------|
| (In      millions)                             | September      30,2008 |   | December      31,2007 |
|                                           |                   |   |   |   |   |   |   |
| CLL                                            |                   |   |   |   |   |   |   |
| Equipment      and leasing and other           | $                      | 109,906 |   | $ | 96,817 |   |   |
| Commercial      and industrial                 |                   | 69,133 |   |   | 58,863 |   |   |
|                                           |                   | 179,039 |   |   | 155,680 |   |   |
|                                           |                   |   |   |   |   |   |   |
| Real      Estate                               |                   | 48,090 |   |   | 32,228 |   |   |
|                                           |                   |   |   |   |   |   |   |
| GE      Money                                  |                   |   |   |   |   |   |   |
| Non-U.S.      residential mortgages(a)         |                   | 72,117 |   |   | 73,042 |   |   |
| Non-U.S.      installment and revolving credit |                   | 33,554 |   |   | 34,669 |   |   |
| U.S.      installment and revolving credit     |                   | 29,058 |   |   | 27,914 |   |   |
| Non-U.S.      auto                             |                   | 24,281 |   |   | 27,368 |   |   |
| Other                                          |                   | 12,009 |   |   | 10,198 |   |   |
|                                           |                   | 171,019 |   |   | 173,191 |   |   |
|                                           |                   |   |   |   |   |   |   |
| GECAS(b)                                       |                   | 15,483 |   |   | 14,197 |   |   |
|                                           |                   |   |   |   |   |   |   |
| Energy      Financial Services                 |                   | 8,613 |   |   | 7,898 |   |   |
|                                           |                   |   |   |   |   |   |   |
| Other(c)                                       |                   | 4,192 |   |   | 5,111 |   |   |
|                                           |                   | 426,436 |   |   | 388,305 |   |   |
| Less      allowance for losses                 |                   | (4,648 | ) |   | (4,238 | ) |   |
| Total                                          | $                      | 421,788 |   | $ | 384,067 |   |   |
|                                           |                   |   |   |   |   |   |   |

| (a) | At      September 30, 2008, net of credit insurance, approximately 26% of this      portfolio comprised loans with introductory, below market rates that are      scheduled to adjust at future dates; with high loan-to-value ratios at      inception; whose terms permitted interest-only payments; or whose terms      resulted in negative amortization. At the origination date, all of these      loans were underwritten to the reset value. |   |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| (b) | Included      loans and financing leases of $13,101 million and $11,685 million at      September 30, 2008, and December 31, 2007, respectively, related to      commercial aircraft at Aviation Financial Services.                                                                                                                                                                                                                                 |   |
| (c) | Included      loans and financing leases of $4,192 million and $5,106 million at      September 30, 2008, and December 31, 2007, respectively, related to      certain consolidated, liquidating securitization entities.                                                                                                                                                                                                                            |   |

----

|  (In      millions)  | BalanceJanuary      1,2008 |   | Provisioncharged      tooperations |   | Currencyexchange |   | Other(a) |    | Grosswrite-offs |   | Recoveries |   | BalanceSeptember      30,2008 |
|---------------------------|----------------------------|--------|------------------------------------|--------|------------------|--------|----------|---------|-----------------|--------|------------|--------|-------------------------------|
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| CLL                       |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Equipment      and        |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| leasing      and other    | $                          | 661    |                               | $      | 391              |   | $        | 4       |            | $      | 88         |   | $                             | (536 | ) | $ | 69 |   | $ | 677 |   |
| Commercial      and       |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| industrial                |                       | 276    |                               |   | 233              |   |     | (10     | )               |   | 5          |   |                          | (164 | ) |   | 12 |   |   | 352 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Real      Estate          |                       | 168    |                               |   | 47               |   |     | (4      | )               |   | 8          |   |                          | (10 | ) |   | 1 |   |   | 210 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| GE      Money             |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Non-U.S.      residential |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| mortgages                 |                       | 246    |                               |   | 147              |   |     | (20     | )               |   | 5          |   |                          | (135 | ) |   | 52 |   |   | 295 |   |
| Non-U.S.      installment |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| and revolving      credit |                       | 1,371  |                               |   | 1,259            |   |     | (51     | )               |   | (6         | )      |                          | (1,968 | ) |   | 722 |   |   | 1,327 |   |
| U.S.      installment and |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| revolvingcredit           |                       | 985    |                               |   | 1,908            |   |     | – |            |   | (416       | )      |                          | (1,477 | ) |   | 215 |   |   | 1,215 |   |
| Non-U.S.      auto        |                       | 324    |                               |   | 260              |   |     | (19     | )               |   | (40        | )      |                          | (479 | ) |   | 225 |   |   | 271 |   |
| Other                     |                       | 162    |                               |   | 131              |   |     | (3      | )               |   | 31         |   |                          | (182 | ) |   | 54 |   |   | 193 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| GECAS                     |                       | 8      |                               |   | 47               |   |     | – |            |   | –    |   |                          | (1 | ) |   | – |   |   | 54 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Energy      Financial     |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Services                  |                       | 19     |                               |   | 12               |   |     | – |            |   | 3          |   |                          | – |   |   | – |   |   | 34 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Other                     |                       | 18     |                               |   | 18               |   |     | – |            |   | (1         | )      |                          | (15 | ) |   | – |   |   | 20 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |
| Total                     | $                          | 4,238  |                               | $      | 4,453            |   | $        | (103    | )               | $      | (323       | )      | $                             | (4,967 | ) | $ | 1,350 |   | $ | 4,648 |   |
|                      |                       |   |                               |   |             |   |     |    |            |   |       |   |                          |   |   |   |   |   |   |   |   |

| (a) | Other      primarily included the effects of acquisitions and securitization      activity. |
|-----|---------------------------------------------------------------------------------------------|

|                                           | At                     |
|------------------------------------------------|------------------------|
| (In      millions)                             | September      30,2008 |   | December      31,2007 |
|                                           |                   |   |   |   |   |   |
| Goodwill                                       | $                      | 26,319 |   | $ | 25,427 |   |
| Intangible      assets subject to amortization |                   | 4,192 |   |   | 4,509 |   |
| Total                                          | $                      | 30,511 |   | $ | 29,936 |   |
|                                           |                   |   |   |   |   |   |

----

|                                  | 2008   |   |
|---------------------------------------|--------|--------|
|                                  | CLL    |   | RealEstate |   | GEMoney |   | GECAS |   | EnergyFinancialServices |   | Total |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      January 1                | $      | 12,015 |   | $ | 1,087 |   | $ | 10,273 |   | $ | 162 |   | $ | 1,890 |   | $ | 25,427 |   |
| Acquisitions/purchase      accounting |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| adjustments                           |   | 849    |   |   | 151 |   |   | 400 |   |   | 2 |   |   | 327 |   |   | 1,729 |   |
| Dispositions,      currency exchange  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and other                             |   | (132   | ) |   | (20 | ) |   | (621 | ) |   | (5 | ) |   | (59 | ) |   | (837 | ) |
| Balance      September 30             | $      | 12,732 |   | $ | 1,218 |   | $ | 10,052 |   | $ | 159 |   | $ | 2,158 |   | $ | 26,319 |   |

|                                  | At                      |
|---------------------------------------|-------------------------|
|                                  | September      30, 2008 |   | December      31, 2007 |
| (In      millions)                    | Grosscarryingamount     |   | Accumulatedamortization |   | Net |   | Grosscarryingamount |   | Accumulatedamortization |   | Net |
|                                  |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Customer-related                      | $                       | 2,150 |   | $ | (723 | ) | $ | 1,427 |   | $ | 2,395 |   | $ | (869 | ) | $ | 1,526 |
| Patents,      licenses and trademarks |                    | 780 |   |   | (578 | ) |   | 202 |   |   | 428 |   |   | (309 | ) |   | 119 |
| Capitalized      software             |                    | 2,132 |   |   | (1,367 | ) |   | 765 |   |   | 1,832 |   |   | (1,095 | ) |   | 737 |
| Lease      valuations                 |                    | 1,771 |   |   | (521 | ) |   | 1,250 |   |   | 1,841 |   |   | (360 | ) |   | 1,481 |
| Present      value of future profits  |                    | 831 |   |   | (393 | ) |   | 438 |   |   | 818 |   |   | (364 | ) |   | 454 |
| All      other                        |                    | 275 |   |   | (165 | ) |   | 110 |   |   | 347 |   |   | (155 | ) |   | 192 |
| Total                                 | $                       | 7,939 |   | $ | (3,747 | ) | $ | 4,192 |   | $ | 7,661 |   | $ | (3,152 | ) | $ | 4,509 |

----

|                                      | At                     |
|-------------------------------------------|------------------------|
| (In      millions)                        | September      30,2008 |   | December      31,2007 |
|                                      |                   |   |   |   |   |   |
| Short-term      borrowings                |                   |   |   |   |   |   |
|                                      |                   |   |   |   |   |   |
| Commercial      paper                     |                   |   |   |   |   |   |
| U.S.                                      |                   |   |   |   |   |   |
| Unsecured                                 | $                      | 62,252 |   | $ | 72,392 |   |
| Asset-backed(a)                           |                   | 3,864 |   |   | 4,775 |   |
| Non-U.S.                                  |                   | 25,681 |   |   | 28,711 |   |
| Current      portion of long-term debt(b) |                   | 68,152 |   |   | 56,301 |   |
| Bank      deposits(c)(d)                  |                   | 31,781 |   |   | 11,486 |   |
| Bank      borrowings(e)                   |                   | 13,353 |   |   | 6,915 |   |
| GE      Interest Plus notes(f)            |                   | 8,348 |   |   | 9,590 |   |
| Other                                     |                   | 1,978 |   |   | 2,250 |   |
| Total                                     |                   | 215,409 |   |   | 192,420 |   |
|                                      |                   |   |   |   |   |   |
| Long-term      borrowings                 |                   |   |   |   |   |   |
|                                      |                   |   |   |   |   |   |
| Senior      notes                         |                   |   |   |   |   |   |
| Unsecured(g)                              |                   | 302,689 |   |   | 283,097 |   |
| Asset-backed(h)                           |                   | 5,279 |   |   | 5,528 |   |
| Extendible      notes                     |                   | 2,197 |   |   | 8,500 |   |
| Subordinated      notes(i)(j)             |                   | 10,854 |   |   | 11,377 |   |
| Total                                     |                   | 321,019 |   |   | 308,502 |   |
| Total      borrowings                     | $                      | 536,428 |   | $ | 500,922 |   |
|                                      |                   |   |   |   |   |   |

| (a) | Consists      entirely of obligations of consolidated, liquidating securitization      entities.                                                                                                                |   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| (b) | Included      $397 million and $1,106 million of asset-backed senior notes, issued by      consolidated, liquidating securitization entities at September 30, 2008,      and December 31, 2007, respectively.   |   |
| (c) | Included      $16,305 million and $10,789 million of deposits in non-U.S. banks at      September 30, 2008, and December 31, 2007, respectively.                                                                |   |
| (d) | Included      certificates of deposits distributed by brokers of $15,476 million and      $697 million at September 30, 2008, and December 31, 2007,      respectively.                                         |   |
| (e) | Term      borrowings from banks with a remaining term to maturity of less than 12      months.                                                                                                                  |   |
| (f) | Entirely      variable denomination floating rate demand notes.                                                                                                                                                 |   |
| (g) | Included      $1,684 million of certificates of deposits with maturities greater than      one year at September 30, 2008, and no such certificates of deposits at      December 31, 2007.                      |   |
| (h) | Included      $2,421 million and $3,410 million of asset-backed senior notes, issued by      consolidated, liquidating securitization entities at September 30, 2008,      and December 31, 2007, respectively. |   |
| (i) | Included      $750 million of subordinated notes guaranteed by GE at September 30, 2008,      and December 31, 2007.                                                                                            |   |
| (j) | Included      $7,741 million and $8,064 million of subordinated debentures receiving      rating agency equity credit at September 30, 2008, and December 31, 2007,      respectively.                          |   |

----

| Level 1 – | Quoted      prices for identical instruments in active  markets. |
|---------------------------|------------------------------------------------------------------|

| Level 2 –  | Quoted      prices for similar instruments in active markets; quoted prices for      identical or similar instruments in markets that are not active; and      model-derived valuations whose inputs are observable or whose significant      value drivers are observable. |
|---------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Level 3 –  | Significant      inputs to the valuation model areunobservable. |
|---------------------------------|-----------------------------------------------------------------|

----

----

| September      30, 2008(In      millions) |   | Level      1 |   |   | Level      2 |   |   | Level      3 |   |   | FIN      39netting(a) |   |   | Netbalance |
|-------------------------------------------|--------|--------------|--------|--------|--------------|--------|--------|--------------|--------|--------|-----------------------|--------|--------|------------|
|                                      |   |         |   |   |         |   |   |         |   |   |                  |   |   |       |
| Assets                                    |   |         |   |   |         |   |   |         |   |   |                  |   |   |       |
| Investment      securities                | $      | 1,368        |   | $      | 29,046       |   | $      | 12,774       |   | $      | –               |   | $      | 43,188     |
| Derivatives                               |   | –      |   |   | 8,792        |   |   | 1,021        |   |   | (3,891                | )      |   | 5,922      |
| Other(b)                                  |   | –      |   |   | 1,121        |   |   | 645          |   |   | –               |   |   | 1,766      |
| Total                                     | $      | 1,368        |   | $      | 38,959       |   | $      | 14,440       |   | $      | (3,891                | )      | $      | 50,876     |
|                                      |   |         |   |   |         |   |   |         |   |   |                  |   |   |       |
| Liabilities                               |   |         |   |   |         |   |   |         |   |   |                  |   |   |       |
| Derivatives                               | $      | 7            |   | $      | 6,639        |   | $      | 204          |   | $      | (3,957                | )      | $      | 2,893      |
| Other                                     |   | –      |   |   | 611          |   |   | –      |   |   | –               |   |   | 611        |
| Total                                     | $      | 7            |   | $      | 7,250        |   | $      | 204          |   | $      | (3,957                | )      | $      | 3,504      |
|                                      |   |         |   |   |         |   |   |         |   |   |                  |   |   |       |

| (a) | FASB      Interpretation (FIN) 39, Offsetting of Amounts Related      to Certain Contracts, permits the netting of derivative receivables      and derivative payables when a legally enforceable master netting      agreement exists. Includes fair value adjustments related to our own and      counterparty credit risk. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Includes      private equity investments and loans designated under the fair value      option.                                                                                                                                                                                                                               |

----

| (In      millions)         | July      1, 2008 |   | Netrealized/unrealizedgains(losses)included      inearnings(a) |   | Net      realized/unrealizedgains      (losses)included      inaccumulatednonownerchangesother      thanearnings |   | Purchases,issuancesandsettlements |   | Transfersin      and/orout      ofLevel      3(b) |   | September      30, 2008 |   | Netchange      inunrealizedgains(losses)relating      toinstrumentsstill      held atSeptember      30, 2008(c) |
|----------------------------|-------------------|--------|----------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|---------------------------------------------------|--------|------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|
|                       |              |   |                                                           |   |                                                                                                             |   |                              |   |                                              |   |                         |   |                                                                                                                 |   |   |   |   |   |   |   |   |   |
| Investment      securities | $                 | 13,539 |                                                           | $      | 278                                                                                                              |   | $                                 | (265   | )                                                 | $      | (488                         | )      | $                                                                                                                    | (290 | ) | $ | 12,774 |   |   | $ | 128 |   |
| Derivatives(d)(e)          |              | 476    |                                                           |   | 400                                                                                                              |   |                              | 18     |                                              |   | (61                          | )      |                                                                                                                 | 7 |   |   | 840 |   |   |   | 343 |   |
| Other                      |              | 715    |                                                           |   | (33                                                                                                              | )      |                              | (38    | )                                                 |   | 2                            |   |                                                                                                                 | (1 | ) |   | 645 |   |   |   | (31 | ) |
| Total                      | $                 | 14,730 |                                                           | $      | 645                                                                                                              |   | $                                 | (285   | )                                                 | $      | (547                         | )      | $                                                                                                                    | (284 | ) | $ | 14,259 |   |   | $ | 440 |   |
|                       |              |   |                                                           |   |                                                                                                             |   |                              |   |                                              |   |                         |   |                                                                                                                 |   |   |   |   |   |   |   |   |   |

| (a) | Earnings      effects are primarily included in “Revenues from services” and “Interest”      captions in the Condensed Statement of Current and Retained      Earnings.                                                                    |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Transfers      in and out of Level 3 are considered to occur at the beginning of the      period.                                                                                                                                                                  |
| (c) | Represents      the amount of total gains or losses for the period included in earnings      attributable to the change in unrealized gains (losses) relating to assets      and liabilities classified as Level 3 that are still held at September 30,      2008. |
| (d) | Earnings      from Derivatives were more than offset by $190 million in losses from      related derivatives included in Level 2 and $253 million in losses from      qualifying fair value hedges.                                                                |
| (e) | Represents      derivative assets net of derivative liabilities and includes cash accruals      of $23 million not reflected in the fair value hierarchy      table.                                                                                               |

| (In      millions)         | January      1, 2008 |   | Netrealized/unrealizedgains(losses)included      inearnings(a) |   | Net      realized/unrealizedgains      (losses)included      inaccumulatednonownerchangesother      thanearnings |   | Purchases,issuancesandsettlements |   | Transfersin      and/orout      ofLevel      3(b) |   | September      30, 2008 |   | Netchange      inunrealizedgains(losses)relating      toinstrumentsstill      heldat      September 30, 2008(c) |
|----------------------------|----------------------|--------|----------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|---------------------------------------------------|--------|------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|
|                       |                 |   |                                                           |   |                                                                                                             |   |                              |   |                                              |   |                         |   |                                                                                                                 |   |   |   |   |   |   |   |   |   |
| Investment      securities | $                    | 12,122 |                                                           | $      | 622                                                                                                              |   | $                                 | (414   | )                                                 | $      | 54                           |   | $                                                                                                                    | 390 |   | $ | 12,774 |   |   | $ | 101 |   |
| Derivatives(d)(e)          |                 | 264    |                                                           |   | 688                                                                                                              |   |                              | 43     |                                              |   | (162                         | )      |                                                                                                                 | 7 |   |   | 840 |   |   |   | 522 |   |
| Other                      |                 | 689    |                                                           |   | (41                                                                                                              | )      |                              | (9     | )                                                 |   | (44                          | )      |                                                                                                                 | 50 |   |   | 645 |   |   |   | (41 | ) |
| Total                      | $                    | 13,075 |                                                           | $      | 1,269                                                                                                            |   | $                                 | (380   | )                                                 | $      | (152                         | )      | $                                                                                                                    | 447 |   | $ | 14,259 |   |   | $ | 582 |   |
|                       |                 |   |                                                           |   |                                                                                                             |   |                              |   |                                              |   |                         |   |                                                                                                                 |   |   |   |   |   |   |   |   |   |

| (a) | Earnings      effects are primarily included in “Revenues from services” and “Interest”      captions in the Condensed Statement of Current and Retained      Earnings.                                                                    |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Transfers      in and out of Level 3 are considered to occur at the beginning of the      period.                                                                                                                                                                  |
| (c) | Represents      the amount of total gains or losses for the period included in earnings      attributable to the change in unrealized gains (losses) relating to assets      and liabilities classified as Level 3 that are still held at September 30,      2008. |
| (d) | Earnings      from Derivatives were partially offset by $275 million in losses from      related derivatives included in Level 2 and $309 million in losses from      qualifying fair value hedges.                                                                |
| (e) | Represents      derivative assets net of derivative liabilities and includes cash accruals      of $23 million not reflected in the fair value hierarchy      table.                                                                                               |

----

|                                              | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------------------------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)                                | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                                              |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Net      earnings                                 | $                                        | 1,840  |                                    | $      | 1,867 |   | $ | 6,672 |   | $ | 7,056 |   |
| Investment      securities – net            |                                     | (1,047 | )                                       |   | (15 | ) |   | (2,361 | ) |   | (1,214 | ) |
| Currency      translation adjustments – net |                                     | (3,452 | )                                       |   | 1,304 |   |   | (2,656 | ) |   | 2,419 |   |
| Cash      flow hedges – net                 |                                     | (1,488 | )                                       |   | (819 | ) |   | (1,369 | ) |   | (87 | ) |
| Benefit      plans – net                    |                                     | 3      |                                    |   | 2 |   |   | 21 |   |   | 16 |   |
| Total                                             | $                                        | (4,144 | )                                       | $      | 2,339 |   | $ | 307 |   | $ | 8,190 |   |

|                                | At                     |
|-------------------------------------|------------------------|
| (In      millions)                  | September      30,2008 |   | December      31,2007 |
|                                |                   |   |   |   |   |   |
| Receivables      secured by         |                   |   |   |   |   |   |
| Equipment                           | $                      | 6,169 |   | $ | 6,552 |   |
| Commercial real      estate         |                   | 8,333 |   |   | 9,244 |   |
| Other assets                        |                   | 11,085 |   |   | 12,880 |   |
| Credit      card receivables        |                   | 21,910 |   |   | 22,793 |   |
| Trade      receivables              |                   | 2,562 |   |   | 2,036 |   |
| Total      securitized assets(a)(b) | $                      | 50,059 |   | $ | 53,505 |   |
|                                |                   |   |   |   |   |   |

| (a) | At      September 30, 2008, and December 31, 2007, liquidity support amounted to      $2,301 million and $2,810 million, respectively. Credit support amounted      to $2,319 million and $2,804 million at September 30, 2008, and December      31, 2007, respectively. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Liabilities      for recourse obligations related to off-balance sheet assets were $2      million at both September 30, 2008, and December 31,  2007.                                                                                                                    |

----

----

----

|                                             | Three      months endedSeptember      30(Unaudited) |   | Nine      months endedSeptember      30(Unaudited) |   |
|--------------------------------------------------|-----------------------------------------------------|--------|----------------------------------------------------|--------|
| (In      millions)                               | 2008                                                |   | 2007                                               |   | 2008 |   | 2007 |   |
| Revenues                                         |                                                |   |                                               |   |   |   |   |   |   |   |   |   |
| CLL                                              | $                                                   | 6,547  |                                               | $      | 6,862 |   | $ | 20,525 |   | $ | 19,859 |   |
| Real      Estate                                 |                                                | 1,679  |                                               |   | 1,937 |   |   | 5,526 |   |   | 5,109 |   |
| GE      Money                                    |                                                | 6,540  |                                               |   | 6,153 |   |   | 19,481 |   |   | 18,246 |   |
| GECAS                                            |                                                | 1,265  |                                               |   | 1,195 |   |   | 3,690 |   |   | 3,660 |   |
| Energy      Financial Services                   |                                                | 1,261  |                                               |   | 832 |   |   | 3,020 |   |   | 1,573 |   |
| Total segment      revenues                      |                                                | 17,292 |                                               |   | 16,979 |   |   | 52,242 |   |   | 48,447 |   |
| GECS      corporate items and eliminations(a)    |                                                | 1,139  |                                               |   | 1,087 |   |   | 3,259 |   |   | 4,198 |   |
| Total      revenues in GECS                      | $                                                   | 18,431 |                                               | $      | 18,066 |   | $ | 55,501 |   | $ | 52,645 |   |
|                                             |                                                |   |                                               |   |   |   |   |   |   |   |   |   |
| Segment      profit                              |                                                |   |                                               |   |   |   |   |   |   |   |   |   |
| CLL                                              | $                                                   | 394    |                                               | $      | 905 |   | $ | 2,005 |   | $ | 2,633 |   |
| Real      Estate                                 |                                                | 244    |                                               |   | 640 |   |   | 1,204 |   |   | 1,680 |   |
| GE      Money                                    |                                                | 791    |                                               |   | 947 |   |   | 2,832 |   |   | 3,306 |   |
| GECAS                                            |                                                | 285    |                                               |   | 274 |   |   | 955 |   |   | 960 |   |
| Energy      Financial Services                   |                                                | 306    |                                               |   | 255 |   |   | 606 |   |   | 501 |   |
| Total segment    profit                          |                                                | 2,020  |                                               |   | 3,021 |   |   | 7,602 |   |   | 9,080 |   |
| GECS      corporate items and eliminations(a)(b) |                                                | (10    | )                                                  |   | 198 |   |   | (362 | ) |   | (38 | ) |
| Earnings      in GECS from continuing operations |                                                | 2,010  |                                               |   | 3,219 |   |   | 7,240 |   |   | 9,042 |   |
| Loss      in GECS from discontinued              |                                                |   |                                               |   |   |   |   |   |   |   |   |   |
| operations, net of      taxes                    |                                                | (170   | )                                                  |   | (1,352 | ) |   | (568 | ) |   | (1,986 | ) |
| Total      net earnings in GECS                  | $                                                   | 1,840  |                                               | $      | 1,867 |   | $ | 6,672 |   | $ | 7,056 |   |
|                                             |                                                |   |                                               |   |   |   |   |   |   |   |   |   |

| (a) | Included      the gain on sale of Swiss Re common stock $0.6 billion pre tax ($0.3      billion after tax) during the first quarter of 2007.                                              |   |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| (b) | Included      restructuring and other charges of $0.1 billion and $0.2 billion for the      first nine months of 2008 and 2007, respectively, primarily related to CLL      and GE Money. |   |

| See      accompanying notes to consolidated financial statements. |   |
|-------------------------------------------------------------------|--------|

----

|                | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)  | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues            | $                                        | 6,547  |                                    | $      | 6,862 |   | $ | 20,525 |   | $ | 19,859 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Segment      profit | $                                        | 394    |                                    | $      | 905 |   | $ | 2,005 |   | $ | 2,633 |   |

|               | At                     |
|--------------------|------------------------|
| (In      millions) | September      30,2008 |   | September      30,2007 |   | December      31,2007 |
|               |                   |   |   |   |   |   |   |   |   |   |
| Total      assets  | $                      | 252,477 |   | $ | 220,391 |   | $ | 229,608 |   |   |

|                | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)  | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues            |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Capital Solutions   | $                                        | 3,673  |                                    | $      | 3,543 |   | $ | 11,128 |   | $ | 10,371 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Segment      profit |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Capital Solutions   | $                                        | 317    |                                    | $      | 444 |   | $ | 1,220 |   | $ | 1,302 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |

|               | At                     |
|--------------------|------------------------|
| (In      millions) | September      30,2008 |   | September      30,2007 |   | December      31,2007 |
|               |                   |   |   |   |   |   |   |   |   |   |
| Total      assets  |                   |   |   |   |   |   |   |   |   |   |
| Capital Solutions  | $                      | 130,482 |   | $ | 118,861 |   | $ | 122,527 |   |   |

----

|                | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)  | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues            | $                                        | 1,679  |                                    | $      | 1,937 |   | $ | 5,526 |   | $ | 5,109 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Segment      profit | $                                        | 244    |                                    | $      | 640 |   | $ | 1,204 |   | $ | 1,680 |   |

|               | At                     |
|--------------------|------------------------|
| (In      millions) | September      30,2008 |   | September      30,2007 |   | December      31,2007 |
|               |                   |   |   |   |   |   |   |   |   |   |
| Total      assets  | $                      | 88,739 |   | $ | 72,197 |   | $ | 79,285 |   |   |

----

Money

|                | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)  | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues            | $                                        | 6,540  |                                    | $      | 6,153 |   | $ | 19,481 |   | $ | 18,246 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Segment      profit | $                                        | 791    |                                    | $      | 947 |   | $ | 2,832 |   | $ | 3,306 |   |

|               | At                     |
|--------------------|------------------------|
| (In      millions) | September      30,2008 |   | September      30,2007 |   | December      31,2007 |
|               |                   |   |   |   |   |   |   |   |   |   |
| Total      assets  | $                      | 209,222 |   | $ | 196,840 |   | $ | 209,178 |   |   |

|                | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)  | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues            | $                                        | 1,265  |                                    | $      | 1,195 |   | $ | 3,690 |   | $ | 3,660 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Segment      profit | $                                        | 285    |                                    | $      | 274 |   | $ | 955 |   | $ | 960 |   |

|               | At                     |
|--------------------|------------------------|
| (In      millions) | September      30,2008 |   | September      30,2007 |   | December      31,2007 |
|               |                   |   |   |   |   |   |   |   |   |   |
| Total      assets  | $                      | 49,841 |   | $ | 47,038 |   | $ | 47,189 |   |   |

----

|                | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|---------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)  | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Revenues            | $                                        | 1,261  |                                    | $      | 832 |   | $ | 3,020 |   | $ | 1,573 |   |
|                |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Segment      profit | $                                        | 306    |                                    | $      | 255 |   | $ | 606 |   | $ | 501 |   |

|               | At                     |
|--------------------|------------------------|
| (In      millions) | September      30,2008 |   | September      30,2007 |   | December      31,2007 |
|               |                   |   |   |   |   |   |   |   |   |   |
| Total      assets  | $                      | 21,856 |   | $ | 17,493 |   | $ | 18,705 |   |   |

|                                            | Three      months endedSeptember      30 |   | Nine      months endedSeptember      30 |   |
|-------------------------------------------------|------------------------------------------|--------|-----------------------------------------|--------|
| (In      millions)                              | 2008                                     |   | 2007                                    |   | 2008 |   | 2007 |   |
|                                            |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| Loss      in GECS from discontinued operations, |                                     |   |                                    |   |   |   |   |   |   |   |   |   |
| net of taxes                                    | $                                        | (170   | )                                       | $      | (1,352 | ) | $ | (568 | ) | $ | (1,986 | ) |

----

| ·   | During      the first nine months of 2008, we completed the acquisitions of Merrill      Lynch Capital, CitiCapital and BankBPH. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      U.S. dollar was stronger at September 30, 2008, than at December 31, 2007,      decreasing the translated levels of our non-U.S. dollar assets and      liabilities. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                           | September      30, 2008                                                         |
|------------------------------------------------|---------------------------------------------------------------------------------|
|                                           | Nonearningreceivables      asa      percentageof      totalfinancingreceivables |   | Allowance      forlosses      as apercentage      ofnonearning receivables |   | Allowance      forlosses      asa      percentageof      totalfinancingreceivables |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| CLL                                            |                                                                            |   |   |   |   |   |   |   |   |
| Equipment      and leasing and other           |                                                                            | 1.0 | % |   | 59.7 | % |   | 0.6 | % |
| Commercial      and industrial                 |                                                                            | 1.5 |   |   | 35.0 |   |   | 0.5 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| Real      Estate                               |                                                                            | 0.2 |   |   | 230.8 |   |   | 0.4 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| GE      Money                                  |                                                                            |   |   |   |   |   |   |   |   |
| Non-U.S.      residential mortgages            |                                                                            | 4.6 |   |   | 8.9 |   |   | 0.4 |   |
| Non-U.S.      installment and revolving credit |                                                                            | 1.8 |   |   | 221.4 |   |   | 4.0 |   |
| U.S.      installment and revolving credit     |                                                                            | 2.3 |   |   | 179.5 |   |   | 4.2 |   |
| Non-U.S.      auto                             |                                                                            | 0.4 |   |   | 280.1 |   |   | 1.1 |   |
| Other                                          |                                                                            | 2.8 |   |   | 56.3 |   |   | 1.6 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| GECAS                                          |                                                                            | 0.9 |   |   | 37.0 |   |   | 0.4 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| Energy      Financial Services                 |                                                                            | 1.9 |   |   | 20.9 |   |   | 0.4 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| Other                                          |                                                                            | 0.8 |   |   | 58.8 |   |   | 0.5 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |
| Total                                          |                                                                            | 1.8 |   |   | 60.9 |   |   | 1.1 |   |
|                                           |                                                                            |   |   |   |   |   |   |   |   |

----

|                     | Delinquency      rates at  |
|--------------------------|----------------------------|
|                     | September      30, 2008(a) |   | December      31, 2007 |   | September      30,2007 |
|                     |                       |   |   |   |   |   |   |   |   |
| Equipment      Financing |                       | 1.61 | % |   | 1.21 | % |   | 1.35 | % |
| Consumer                 |                       | 6.54 |   |   | 5.38 |   |   | 5.26 |   |
| U.S.                     |                       | 6.17 |   |   | 5.52 |   |   | 5.14 |   |
| Non-U.S.                 |                       | 6.69 |   |   | 5.32 |   |   | 5.30 |   |
|                     |                       |   |   |   |   |   |   |   |   |

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

----

| ·   | Reduced      the GECS dividend to GE from 40% to 10% of GECS earnings and suspended its      stock repurchase program; |
|--------------------|------------------------------------------------------------------------------------------------------------------------|

| ·   | Raised      $15 billion in cash through common and preferred stock offerings in      October 2008; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | Reduced      commercial paper borrowings at GECS to $88 billion at September 30,      2008; |
|--------------------|---------------------------------------------------------------------------------------------|

| ·   | Targeted      to further reduce GECS commercial paper borrowings to $80 billion by the      end of 2008 and to 10-15% of total GECS borrowings going      forward; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Begun      resizing GE to deliver a 60%/40% industrial-financial services earnings      split by the end of 2009; |
|--------------------|-------------------------------------------------------------------------------------------------------------------|

| ·   | Grown      our deposit funding at GECS to $33.5 billion at September 30, 2008;      and |
|--------------------|-----------------------------------------------------------------------------------------|

| ·   | Registered      to use the Federal Reserve’s Commercial Paper Funding Facility for up to      $98 billion, which is available through April 30,  2009. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| · | Transaction      costs will generally be expensed. Certain such costs are presently treated      as costs of the acquisition. |
|--------|-------------------------------------------------------------------------------------------------------------------------------|

| · | In-process      research and development (IPR&D) will be accounted for as an asset,      with the cost recognized as the research and development is realized or      abandoned. IPR&D is presently expensed at the time of the      acquisition. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Contingencies,      including contingent consideration, will generally be recorded at fair      value with subsequent adjustments recognized in operations. Contingent      consideration is presently accounted for as an adjustment of purchase      price. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Decreases      in valuation allowances on acquired deferred tax assets will be recognized      in operations. Such changes previously were considered to be subsequent      changes in consideration and were recorded as decreases in      goodwill. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Risks Relating to the Financial Services Industry and FinancialMarkets

----

----

----

|   | 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.*                                                                     |
|   |               | *      Filed electronically herewith.                                                                                                                       |

----

| General      Electric Capital Services, Inc.(Registrant)    |
|----------------------------------------------------------------------------|
| October      30, 2008                                                      |   | /s/      Jamie S. Miller |   |
| Date                                                                       |   | Jamie      S. MillerSenior      Vice President and ControllerDuly      Authorized Officer and Principal Accounting Officer |
|                                                                       |   |   |

----