**Exhibit
12 (b)**
 
 **General
Electric Capital Services, Inc.**
  **and
consolidated affiliates**
  **Computation
of Ratio of Earnings to Combined Fixed Charges and Preferred Stock
Dividends**
 
 
 **Year
      ended December 31****2004**
    
    **2003**
    
    **2002**
    
    **2001**
    
    **2000***(Dollars
      In millions)*
    **As
      previously reported**
    
    **As
      restated**
    
    **As
      previously reported**
    
    **As
      reestated**
    
    **As
      previously reported**
    
    **As
      reestated**
    
    **As
      previously reported**
    
    **As**
      **restated**
    
    **As**
      **reported**Net
      earnings
    $
    8,161
    
    $
    8,387
    
    $
    7,415
    
    $
    7,649
    
    $
    3,611
    
    $
    3,660
    
    $
    5,417
    
    $
    5,524
    
    $
    5,192Provisions
      for income taxes
    
    1,540
    
    
    1,688
    
    
    1,458
    
    
    1,611
    
    
    (79
    )
    
    (47
    )
    
    1,380
    
    
    1,348
    
    
    1,912Minority
      interest
    
    390
    
    
    390
    
    
    129
    
    
    129
    
    
    143
    
    
    143
    
    
    163
    
    
    163
    
    
    214Earnings
      before incometaxes
      and minority interest
    
    10,091
    
    
    10,465
    
    
    9,002
    
    
    9,389
    
    
    3,675
    
    
    3,756
    
    
    6,960
    
    
    7,035
    
    
    7,318Fixed
      Charges:Interest
    
    11,474
    
    
    11,603
    
    
    10,367
    
    
    10,434
    
    
    10,078
    
    
    10,013
    
    
    10,836
    
    
    10,874
    
    
    11,415One-third
      of rentals
    
    332
    
    
    332
    
    
    298
    
    
    298
    
    
    326
    
    
    326
    
    
    335
    
    
    335
    
    
    392Total
      fixed charges
    
    11,806
    
    
    11,935
    
    
    10,665
    
    
    10,732
    
    
    10,404
    
    
    10,339
    
    
    11,171
    
    
    11,209
    
    
    11,807Less
      interest capitalized,net
      of amortization
    
    (37
    )
    
    (37
    )
    
    (23
    )
    
    (23
    )
    
    (38
    )
    
    (38)
    
    
    (88
    )
    
    (88
    )
    
    (121
    )Earnings
      before incometaxes
      and minority interestplus
      fixed charges
    $
    21,860
    
    $
    22,363
    
    $
    19,644
    
    $
    20,098
    
    $
    14,041
    
    $
    14,057
    
    $
    18,043
    
    $
    18,156
    
    $
    19,004Preferred
      stock dividendrequirements
    $
    1
    
    $
    1
    
    $
    1
    
    $
    1
    
    $
    1
    
    $
    1
    
    $
    1
    
    $
    1
    
    $
    1Ratio
      of earnings beforeprovisions
      for incometaxes
      to net earnings
    
    1.19
    
    
    1.20
    
    
    1.20
    
    
    1.21
    
    
    0.98
    
    
    0.99
    
    
    1.25
    
    
    1.24
    
    
    1.37Preferred
      stock dividendfactor
      on pre-tax basis
    
    1
    
    
    1
    
    
    1
    
    
    1
    
    
    1
    
    
    1
    
    
    1
    
    
    1
    
    
    1Fixed
      charges
    
    11,806
    
    
    11,935
    
    
    10,665
    
    
    10,732
    
    
    10,404
    
    
    10,339
    
    
    11,171
    
    
    11,209
    
    
    11,807Total
      fixed charges andpreferred
      stock dividendrequirements
    $
    11,807
    
    $
    11,936
    
    $
    10,666
    
    $
    10,733
    
    $
    10,405
    
    $
    10,340
    
    $
    11,172
    
    $
    11,210
    
    $
    11,808Ratio
      of earnings to combinedfixed
      charges andpreferred
      stock dividends
    
    1.85
    
    
    1.87
    
    
    1.84
    
    
    1.87
    
    
    1.35
    
    
    1.36
    
    
    1.62
    
    
    1.62
    
    
    1.61