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                                                                     EXHIBIT 12
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       GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                       AND
           COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
                          AND PREFERRED STOCK DIVIDENDS

                         SIX MONTHS ENDED JUNE 28, 1997

                                   (Unaudited)

                                                                      RATIO OF
                                                                      EARNINGS 
                                                                         TO
                                                                      COMBINED
                                                                        FIXED
                                                           RATIO OF    CHARGES
                                                           EARNINGS      AND
                                                              TO      PREFERRED
                                                             FIXED      STOCK
(Dollar amounts in millions)                                CHARGES   DIVIDENDS
                                                           --------    --------
<S>                                                        <C>         <C>     
Net earnings ...........................................   $  1,552    $  1,552
Provision for income taxes .............................        667         667
Minority interest in net earnings of consolidated
  affiliates ...........................................         51          51
                                                           --------    --------
Earnings before provision for income taxes and
  minority interest ....................................      2,270       2,270
                                                           --------    --------

Fixed charges:
  Interest .............................................      3,694       3,694
  One-third of rentals .................................        112         112
                                                           --------    --------
Total fixed charges ....................................      3,806       3,806
                                                           --------    --------
Less interest capitalized, net of amortization .........         23          23
                                                           --------    --------
Earnings before provision for income taxes and
  minority interest, plus fixed charges ................   $  6,053    $  6,053
                                                           ========    ========

Ratio of earnings to fixed charges .....................       1.59
                                                           ========


Preferred stock dividend requirements ..................               $   --
Ratio of earnings before provision for income taxes to
  net earnings .........................................                   1.43
Preferred stock dividend factor on pre-tax basis .......                   --
Fixed charges ..........................................                  3,806
                                                                       --------
Total fixed charges and preferred stock dividend
  requirements .........................................               $  3,806
                                                                       ========

Ratio of earnings to combined fixed charges and
  preferred stock dividends ............................                   1.59
                                                                       ========
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For purposes of computing the ratios,  fixed charges  consist of interest on all
indebtedness and one-third of rentals, which management believes is a reasonable
approximation of the interest factor of such rentals.