Document:

GECS Exhibit 4f

    Exhibit
      4(f)

    EIGHTH
      AMENDED AND RESTATED

    FISCAL
      AND PAYING AGENCY
      AGREEMENT 

    among

    GENERAL
      ELECTRIC CAPITAL
      CORPORATION 

    GE
      CAPITAL AUSTRALIA FUNDING
      PTY. LTD. (A.B.N. 67 085 675 467) 

    GE
      CAPITAL CANADA FUNDING
      COMPANY 

    GE
      CAPITAL EUROPEAN FUNDING

    GE
      CAPITAL UK FUNDING

    and

    JPMORGAN
      CHASE BANK, N.A.

    and

    J.P.
      MORGAN BANK LUXEMBOURG
      S.A. 

    Euro
      Medium-Term Notes and
      Other Debt Securities Due 

    9
      Months or More from Date
      of Issue 

    Dated
      as of May 12,
      2006 

    TABLE
      OF CONTENTS 

     

    
      	
            	
            	
            	
            	
            
	 	 	 	  	Page
	
              1.

            	 	
              Appointment
                of Paying
                Agents

            	  	1
	
              2.

            	 	
              Notes
                Issuable in
                Series

            	  	2
	
              3.

            	 	
              Execution
                and Authentication
                of Notes; Date and Denomination of Notes

            	  	4
	
              4.

            	 	
              Exchange
                and Registration of
                Transfer of Notes

            	  	8
	
              5.

            	 	
              Payments
                of Principal, Premium
                and Interest; Paying Agents

            	  	10
	
              6.

            	 	
              Redemption;
                Sinking Funds;
                Repayment at the Option of the Holder

            	  	14
	
              7.

            	 	
              Mutilated,
                Destroyed, Stolen
                or Lost Notes

            	  	17
	
              8.

            	 	
              Events
                of
                Default

            	  	18
	
              9.

            	 	
              Additional
                Payments; Tax
                Redemption

            	  	22
	
              10.

            	 	
              Covenant
                of the Issuers and
                the Guarantor

            	  	32
	
              11.

            	 	
              Obligations
                of the Fiscal and
                Paying Agent

            	  	32
	
              12.

            	 	
              Maintenance
                and Resignation of
                Fiscal and Paying Agent

            	  	34
	
              13.

            	 	
              Paying
                Agency

            	  	35
	
              14.

            	 	
              Merger,
                Consolidation, Sale or
                Conveyance

            	  	36
	
              15.

            	 	
              Meetings
                of Holders of the
                Notes

            	  	37
	
              16.

            	 	
              Consent
                of
                Holders

            	  	39
	
              17.

            	 	
              Stamp
                Taxes

            	  	40
	
              18.

            	 	
              Modifications
                and
                Amendments

            	  	40
	
              19.

            	 	
              Accession
                of Additional
                Issuers

            	  	41
	
              20.

            	 	
              Notices
                to
                Parties

            	  	41
	
              21.

            	 	
              Notices
                to and by Holders of
                the Notes

            	  	43
	
              22.

            	 	
              Business
                Day

            	  	44
	
              23.

            	 	
              Central
                Bank Reporting
                Requirements

            	  	44
	
              24.

            	 	
              Governing
                Law

            	  	44
	
              25.

            	 	
              Consent
                to
                Service

            	  	44
	
              26.

            	 	
              Counterparts

            	  	44
	
              27.

            	 	
              Inspection
                of
                Agreement

            	  	44
	
              28.

            	 	
              Descriptive
                Headings

            	  	45
	
              29.

            	 	
              Provisions
                Binding on
                Successors

            	  	45
	
              30.

            	 	
              Official
                Acts by Successor
                Corporation

            	  	45
	
              31.

            	 	
              Severability

            	  	45

    

    EIGHTH
      AMENDED AND RESTATED
      FISCAL AND PAYING AGENCY AGREEMENT, dated as of May 12, 2006
      between GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (?GE
      Capital?), GE CAPITAL AUSTRALIA FUNDING PTY. LTD. (A.B.N. 67 085 675 467),
      a
      company incorporated under the laws of the Commonwealth of Australia (?GEC
      Australia Funding?), GE CAPITAL CANADA FUNDING COMPANY, a company incorporated
      under the laws of the Province of Nova Scotia, Canada (?GEC Canada Funding?),
      GE
      CAPITAL EUROPEAN FUNDING (?GECEF?) and GE CAPITAL UK FUNDING (?GECUKF?, and
      together with GECEF, the ?Irish Issuers? and each an ?Irish Issuer?, each of
      which was incorporated as a public unlimited liability company under the Irish
      Companies Acts 1963-2003) (GEC Australia Funding, GEC Canada Funding, the Irish
      Issuers and each Additional Issuer (as defined herein) acceding hereto pursuant
      to Section 19 hereof, each an ?Issuer? and collectively, the ?Issuers?) and
      JPMORGAN CHASE BANK, N.A., as fiscal and principal paying agent, J.P. MORGAN
      BANK LUXEMBOURG S.A. as initial registrar and transfer agent (such agreement,
      as
      further amended and supplemented from time to time, the ?Agreement?).

    Pursuant
      to the Eighth Amended and
      Restated Distribution Agreement, dated May 12, 2006, among the Issuers
      (including GE Capital in its capacity as guarantor (the ?Guarantor?) of Notes
      issued by an Issuer other than GE Capital) and the agents named therein (the
      ?Agents?) (as further amended from time to time, the ?Distribution Agreement?),
      each Issuer has agreed to issue from time to time its Euro Medium-Term Notes
      (?Medium Term Notes?) and other debt securities (?Other Debt Securities?) having
      maturities from 9 months or more from date of issue (collectively, Medium Term
      Notes and Other Debt Securities are referred to herein as the "Notes"). The
      Guarantor has agreed to guarantee Notes issued pursuant to this Agreement by
      each Issuer other than GE Capital in the form of the guarantee attached hereto
      as Exhibit D-1 (the "Guarantee"). Administrative procedures, which have been
      agreed to by the Issuers (including GE Capital in its capacity as Guarantor)
      and
      the Agents as of the date hereof, are attached as Exhibit A hereto (such
      procedures, as amended from time to time pursuant to the Distribution Agreement,
      are hereinafter referred to as the "Administrative Procedures"). 

    Pursuant
      to this Agreement, the
      Seventh Amended and Restated Fiscal and Paying Agency Agreement dated
      July 1, 2005 (the "Prior Agency Agreement") shall be amended and restated
      on the terms of this Agreement. Any Notes issued on or after the date of this
      Agreement shall be issued pursuant to this Agreement, but this shall not affect
      any Notes issued prior to the date of this Agreement. Subject to such amendment
      and restatement, the Prior Agency Agreement shall continue in full force and
      effect. 

    1.
Appointment
      of Paying
      Agents. Each Issuer and (in the case of Notes issued by an Issuer other than
      GE Capital) the Guarantor hereby appoint JPMorgan Chase Bank, N.A., acting
      through its London Branch located at Trinity Tower, 9 Thomas More Street, London
      E1W 1YT, England, as the fiscal agent and as the principal paying agent (in
      such
      capacities and including any successor fiscal and paying agent appointed
      hereunder, the "Fiscal and Paying Agent", and, together with any other paying
      agents appointed by the relevant Issuer and the Guarantor, the "Paying Agents"),
      in respect of the Notes, upon the terms and subject to the conditions stated
      herein and in the Notes certified from time to time pursuant to Section 2
      hereof. The Fiscal and Paying Agent hereby accepts such appointment and agrees,
      upon such terms and subject to such conditions, to perform its obligations
      under
      this Agreement, the Notes certified from time to time pursuant to Section 2
      hereof and the Administrative Procedures. In addition, unless otherwise agreed
      by the parties hereto, the Fiscal and Paying Agent agrees to appoint its local
      branch or affiliate located in the jurisdiction of the country where any Notes
      are listed from time to time as an additional paying agent, to the extent
      required by the rules and regulations of the applicable exchange and to the
      extent the Fiscal and Paying Agent has a branch or affiliate located in such
      jurisdiction. 

     

    1

    2.
Notes
      Issuable in Series.

    (a)
      Each Issuer may issue Notes
      hereunder in one or more series of Notes, each series (a "Series") having
      identical terms but for authentication date, effectuation date (in the case
      of a
      NGN) (as defined below) and public offering price; provided that a Series of
      Notes may not comprise Notes in bearer form ("Bearer Notes") and Notes in
      registered form ("Registered Notes"). Each such Series may contain one or more
      tranches of Notes, each such tranche (a "Tranche") having identical terms,
      including authentication date and public offering price; provided that a Tranche
      of Notes may not comprise Bearer Notes and Registered Notes. 

    (b)
      Notes issued hereunder shall be
      issued pursuant to authority granted by the Board of Directors of the relevant
      Issuer and (in the case of Notes issued by an Issuer other than GE Capital)
      the
      Guarantor or any duly authorized committee thereof and shall be in such form
      as
      shall be certified to the Fiscal and Paying Agent from time to time by any
      one
      authorized person, as specified in Section 3(a) hereof. 

    (c)
      Prior to the issue of the first
      Tranche of Notes of a Series hereunder, the relevant Issuer and (in the case
      of
      Notes issued by an Issuer other than GE Capital) the Guarantor shall advise
      the
      Fiscal and Paying Agent in writing of the following terms which shall be
      applicable to such Series of Notes (each such set of written instructions shall
      be provided by such persons as are designated by an Issuer Authorized
      Representative (as defined in Section 3(a)) from time to time in an
      incumbency certificate delivered to the Fiscal and Paying Agent and shall
      hereinafter be referred to as a "Corporate Order"): 

    (1)
      the title of the Series (which
      shall distinguish the Notes of such Series from all other Notes), including
      identifying whether such series will be issued as Medium Term Notes or Other
      Debt Securities; 

    (2)
      any limit upon the aggregate
      principal amount of the Notes of such Series which may be authenticated and
      effectuated (as applicable) and delivered under this Agreement (except for
      Notes
      authenticated and effectuated (as applicable) and delivered upon registration
      of
      transfer of, or in exchange for, or in lieu of, other Notes of the Series
      pursuant to Sections 3, 4, 6 and 7); 

    (3)
      the date or dates on which the
      principal of and premium, if any, on the Notes of the Series are payable;

    (4)
      the rate or rates, or the method
      of determination thereof, at which the Notes of the Series shall bear interest,
      if any, the date or dates from which such interest shall accrue, the interest
      payment dates on which such interest shall be payable and, in the case of any
      Registered Note, if other than as set forth in Section 3, the record dates
      for the determination of holders to whom interest is payable; 

    (5)
      the place or places where the
      principal of, and premium, if any, and interest on Notes of the Series shall
      be
      payable; 

     

    2

    (6)
      the currency or composite
      currency in which the Notes of such Series are denominated (the "Specified
      Currency"); 

    (7)
      the currency or currencies in
      which payments on the Notes of such Series are payable, if other than the
      Specified Currency; 

    (8)
      the price or prices at which,
      the period or periods within which and the terms and conditions upon which
      the
      Notes of such Series may be redeemed, in whole or in part, at the option of
      the
      relevant Issuer, pursuant to any sinking fund or otherwise; 

    (9)
      the obligation, if any, of the
      relevant Issuer or the Guarantor to redeem, purchase or repay the Notes of
      such
      Series pursuant to any right to do so contained in the Notes or pursuant to
      sinking fund or analogous provisions or at the option of a holder thereof and
      the price or prices at which and the period or periods within which and the
      terms and conditions upon which the Notes of such Series shall be redeemed,
      purchase or repaid, in whole or in part, pursuant to such obligation;

    (10)
      the denominations in which the
      Notes of such Series shall be issuable, in all cases subject to compliance
      with
      all applicable laws and regulations; 

    (11)
      if other than the principal
      amount thereof, the portion of the principal amount of the Notes of such Series
      which shall be payable upon declaration of acceleration of the maturity thereof
      pursuant to Section 8; 

    (12)
      if the principal of, premium,
      if any, or interest on the Notes of such Series are to be payable, at the
      election of the relevant Issuer or the Guarantor or a holder thereof, in a
      currency other than the Specified Currency, the period or periods within which,
      and the terms and conditions upon which, such election may be made;

    (13)
      if the amount of payments of
      principal, of premium, if any, and of interest on the Notes of such Series
      may
      be determined with reference to an index based on currency other than the
      Specified Currency, the manner in which such amounts shall be determined;

    (14)
      if other than as provided in
      Sections 3, 4 and 5 hereof, whether the Notes of such Series will be issuable
      as
      Registered Notes or Bearer Notes (with or without coupons), or any combination
      of the foregoing, any restriction applicable to the offer, sale or delivery
      of
      Bearer Notes or the payment of interest thereon and the terms upon which Bearer
      Notes of any Series may be exchanged for Registered Notes of such Series, except
      that the Notes of such Series shall only be issuable as Bearer Notes unless
      otherwise provided in such Corporate Order; 

    (15)
      whether the temporary global
      Note and permanent global Note to be issued are intended to be issued in new
      global note ("NGN") form or classic global note ("CGN") form and whether a
      NGN
      is intended to be held in a manner which would allow Eurosystem eligibility
      (a
      "Eurosystem-eligible NGN"); 

    (16)
      any Events of Default with
      respect to the Notes of such Series, if not set forth herein; 

     

    3

    (17)
      if other than those named
      herein, any other depositaries, authenticating or paying agents, transfer agents
      or registrars or any other agents with respect to such Series; 

    (18)
      the stock exchange, competent
      authority and/or market, if any, on or by which the Notes will be listed and/or
      admitted to trading and related information; 

    (19)
      any applicable restrictions on
      the transfer of any of the Notes of such Series; 

    (20)
      whether Notes of such Series
      and/or the related Guarantee, if any, are senior or subordinated and, if such
      Notes and/or Guarantee are subordinated, the terms of such subordination; and
      

    (21)
      any other terms of the Series
      (which terms shall not be inconsistent with the provisions of this Agreement).
      

    All
      Notes of any one Series and
      coupons, if any, appertaining thereto, shall be substantially identical except
      as to denomination and except as may otherwise be provided in or pursuant to
      such Corporate Order. The Notes and the coupons, if any, appertaining thereto
      shall be in substantially such form as shall be established pursuant to a
      resolution of the Board of Directors of the relevant Issuer and the Guarantor,
      in each case with such appropriate insertions, omissions, substitutions and
      other variations as are required or permitted by this Agreement, and may have
      such legends or endorsements placed thereon as the officers executing the same
      may approve (execution thereof to be conclusive evidence of such approval)
      and
      as are not inconsistent with the provisions of this Agreement, or as may be
      required to comply with the directions of Euroclear Bank S.A./N.V. as operator
      of the Euroclear System ("Euroclear"), Clearstream Banking, soci?t? anonyme
      ("Clearstream, Luxembourg") or any other clearance system specified for a
      particular Tranche or Series of Notes, or any successors thereto, or with any
      law or with any rule or regulation made pursuant thereto or with any rule or
      regulation of any stock exchange, competent authority and/or market on or by
      which such Notes may be listed and/or admitted to trading or to conform to
      usage. 

    (d)
      An additional Tranche of the
      same Series may be issued subsequent to the original issue date of any Notes
      of
      such Series (hereinafter called "Additional Notes") following the receipt by
      the
      Fiscal and Paying Agent of a Corporate Order pertaining to such Tranche, which
      Corporate Order will identify the Series to which such Tranche belongs and
      the
      issue date and aggregate principal amount of the Notes of such Tranche. Any
      such
      Additional Notes shall be issued initially as provided in Section 3. In the
      event Additional Notes are issued prior to the Exchange Date (as hereinafter
      defined) for a temporary global Bearer Note representing a prior Tranche of
      Notes of the same Series, the Exchange Date for such prior Tranche of Notes
      may
      be extended to a date not less than 40 days after the issue date of such
      Additional Notes; provided however, in no event shall the Exchange Date for
      any
      Tranche of Notes be extended to a date more than 160 days after their issue
      date. Additional Notes, together with each prior and subsequent Tranche of
      Notes
      of the same Series, shall constitute one and the same Series of Notes for all
      purposes under this Agreement. 

    3.
Execution
      and Authentication
      of Notes; Date and Denomination of Notes

    (a)
Execution,
      delivery and
      safekeeping of Notes. The Notes and, if applicable, coupons appertaining
      thereto in the form certified to the Fiscal and Paying Agent pursuant to the
      provisions of Section 2(b) shall each be executed (i) in the case of
      Notes issued by GE Capital, by any one of GE 

     

    4

    Capital's
      Chairman, one of its
      Presidents, its Vice Chairman and Chief Financial Officer, its Senior Vice
      President-Corporate Treasury and Global Funding Operation or by a duly
      authorized attorney-in-fact of GE Capital or (ii) in the case of Notes
      issued by an Issuer other than GE Capital, by a duly authorized officer of
      such
      Issuer or a duly authorized attorney-in-fact of such Issuer (each an "Issuer
      Authorized Representative"). Such signatures may be the manual or facsimile
      signatures of any person who, at the time of such execution, holds any such
      office or of a duly authorized attorney-in-fact. Any signature in facsimile
      may
      be imprinted or otherwise reproduced on the Notes or the coupons. Each
      definitive Note shall have imprinted thereon a facsimile of the corporate seal
      of the relevant Issuer attested by the Secretary or any Assistant Secretary
      of
      such Issuer. In case any authorized officer of such Issuer or attorney-in-fact
      who shall have signed any Note or coupon shall cease to hold such office or
      be
      such attorney-in-fact before the Note so signed (or the Note to which the coupon
      so signed is attached) shall be authenticated and delivered by the Fiscal and
      Paying Agent or disposed of by such Issuer, such Note or coupon nevertheless
      may
      be authenticated and delivered or disposed of as though the person who signed
      such Note or coupon had not ceased to hold such office or be such
      attorney-in-fact; and any Note or coupon may be signed on behalf of such Issuer
      by any person who, as at the actual date of the execution of such Note or
      coupon, shall hold such office or be an attorney-in-fact, although at the date
      of the execution and delivery of this Agreement any such person did not hold
      such office or was not an attorney-in-fact. 

    The
      relevant Issuer will furnish the
      Fiscal and Paying Agent with an adequate supply of Notes having attached thereto
      appropriate coupons, if any, in the forms approved in accordance with
      Section 2(b) of this Agreement, bearing consecutive control numbers. Such
      Notes shall have been executed by an Issuer Authorized Representative and
      attested by the Secretary or an Assistant Secretary of such Issuer in accordance
      with this Section. The Fiscal and Paying Agent or its designated agent will
      hold
      such blank Notes in safekeeping in accordance with its customary practice and
      shall issue such Notes in the order of the control numbers imprinted thereon.
      The Fiscal and Paying Agent will permit the relevant Issuer and its agents,
      at
      all reasonable times and upon reasonable notice, to examine the Notes and all
      books, records and other materials and information of the Fiscal and Paying
      Agent relating thereto. 

    (b)
Execution
      of Guarantee.
      The Guarantee endorsed on Notes issued by an Issuer other than GE Capital shall
      be executed on behalf of the Guarantor by any one of its Chairman, one of its
      Presidents, its Vice Chairman and Chief Financial Officer, its Senior Vice
      President-Corporate Treasury and Global Funding Operation or by a duly
      authorized attorney-in-fact. Such signatures may be the manual or facsimile
      signatures of any person who, at the time of such execution, holds any such
      office or of a duly authorized attorney-in-fact. Any signature in facsimile
      may
      be imprinted or otherwise reproduced on the Guarantee endorsed on such Notes.
      Each Guarantee endorsed on each definitive Note shall have imprinted thereon
      a
      facsimile of the corporate seal of the Guarantor. In case any authorized officer
      of the Guarantor or attorney-in-fact who shall have signed any Guarantee shall
      cease to hold such office or be such attorney-in-fact before the Note endorsed
      with the Guarantee so signed shall be authenticated and delivered by the Fiscal
      and Paying Agent or disposed of by the relevant Issuer, such Note or coupon
      nevertheless may be authenticated and delivered or disposed of as though the
      person who signed such Guarantee endorsed on such Note had not ceased to hold
      such office or be such attorney-in-fact; and any Guarantee may be signed on
      behalf of the Guarantor by any person who, as at the actual date of the
      execution of such Guarantee, shall hold such office or be an attorney-in-fact,
      although at the date of the execution and delivery of this Agreement any such
      person did not hold such office or was not an attorney-in-fact. 

     

    5

    (c)
Authentication
      of temporary
      global Notes. Unless otherwise specified in the applicable Corporate Order
      or by the relevant Agent or Agents, each Tranche of Notes, including any Tranche
      of Additional Notes issued prior to the Exchange Date for a prior Tranche of
      Notes of the same Series, shall initially be issued in the form of a single
      temporary global Note. The temporary global Notes shall be authenticated by
      the
      Fiscal and Paying Agent or by a duly authorized officer or attorney-in-fact
      of
      the Fiscal and Paying Agent, upon the same conditions, in substantially the
      same
      manner and with the same effect as the definitive Notes, and shall be deposited
      with a common depositary (the "Common Depositary") (if the temporary global
      Note
      is a CGN) or specified common safekeeper (the "Common Safekeeper") (if the
      temporary global Note is a NGN) for the accounts of Euroclear and Clearstream,
      Luxembourg or any other recognized and agreed clearing system (in the case
      of a
      CGN). In the case of the temporary global Note which is a Eurosystem-eligible
      NGN, the Fiscal and Paying Agent will instruct the Common Safekeeper to
      effectuate the same. The Fiscal and Paying Agent shall instruct Euroclear and
      Clearstream, Luxembourg to make appropriate entries in their records to reflect
      the initial outstanding aggregrate principal amount of the relevant Tranche
      of
      Notes (if the temporary global Note is an NGN) and credit the respective
      securities clearance accounts of the relevant Agents (or to such other accounts
      as they may have directed) maintained with Euroclear, Clearstream, Luxembourg
      or
      other recognized and agreed clearing system. For purposes of this Agreement
      "Exchange Date" for any Series of Notes shall mean the first Business Day that
      is at least 40 days after the issue date of such Series; provided that in the
      event a Tranche of Additional Notes of the same Series is issued prior to the
      Exchange Date of a prior Tranche of such Series (as such Exchange Date may
      have
      been extended pursuant to this sentence), such Exchange Date shall be extended
      (or further extended, as the case may be) to a date not earlier than 40 days
      after the issue date of such subsequent Tranche; provided however, in no event
      shall the Exchange Date for any Tranche of Notes be extended to a date more
      than
      160 days after their issue date. No such exchange will be made on a day that
      is
      not a London Business Day, but shall instead be made on the next succeeding
      day
      that is a London Business Day. For the purposes of this Clause 3(c) "London
      Business Day" means a day upon which banks are generally open for business
      (including dealings in foreign currency) in London, England. 

    (d)
Exchange
      of temporary global
      Notes; certification requirements. On or up to 10 days prior to the Exchange
      Date for any Series of Notes held in temporary global form, the holders of
      such
      temporary global Note shall deliver to Euroclear, Clearstream, Luxembourg or
      other recognized and agreed clearance system, as the case may be, a certificate
      substantially in the form set forth in Exhibit B-1 hereto, copies of which
      certificate shall be available at the offices of Euroclear, Clearstream,
      Luxembourg or other clearance system, the Fiscal and Paying Agent, and each
      other paying agent of the relevant Issuer and (in the case of Notes issued
      by an
      Issuer other than GE Capital) the Guarantor. On or after the Exchange Date
      for
      any Series of Notes, upon the request of the Common Depositary (in the case
      of a
      CGN) or the common service provider as described in Appendix 1 hereto (a "Common
      Service Provider") (in the case of a NGN), acting on behalf of Euroclear,
      Clearstream, Luxembourg or other clearance system (in the case of a CGN), acting
      in turn on behalf of such holders, the Fiscal and Paying Agent shall
      authenticate a permanent global Note in bearer form or (if specified in the
      applicable Corporate Order) definitive Bearer Notes and/or definitive Registered
      Notes in the amounts requested in an aggregate principal amount equal to the
      aggregate principal amount of the temporary global Note beneficially owned
      by
      such owners, but only upon delivery by Euroclear, Clearstream, Luxembourg and/or
      other clearance system, acting on behalf of such owners, to the Fiscal and
      Paying Agent or its duly authorized attorney-in-fact of a certificate or
      certificates substantially in the form set forth in Exhibit B-2 hereto. Such
      permanent global Note, if any, shall be authenticated by the Fiscal and Paying
      Agent or by a duly authorized officer or attorney-in-fact of the Fiscal and
      Paying Agent, upon the same conditions, in substantially the same manner and
      with the same effect as the definitive Notes, and shall be deposited

     

    6

    with
      the Common Depositary (if the
      permanent global Note is a CGN) or the Common Safekeeper (if the permanent
      global Note is a NGN) for the accounts of Euroclear, Clearstream, Luxembourg
      and/or other clearance system (in the case of a CGN) for credit to the
      respective accounts of such holders. In the case of a permanent global Note
      which is a Eurosystem-eligible NGN, the Fiscal and Paying Agent shall instruct
      the Common Safekeeper to effectuate the same. 

    Upon
      any such exchange of all or a
      portion of a temporary global Note for a permanent global Note or definitive
      Notes, the Fiscal and Paying Agent shall (i) in the case of a permanent
      global Note which is a NGN, instruct Euroclear and Clearstream, Luxembourg
      to
      make appropriate entries in their records to reflect such exchange or
      (ii) in the case of any global Note which is a CGN, procure that the
      relevant global Note be endorsed by the Fiscal and Paying Agent or its duly
      authorized attorney-in-fact to reflect the reduction of its principal amount
      by
      an amount equal to the aggregate principal amount of such permanent global
      Note
      or definitive Notes as to which certification has been provided as set forth
      in
      the preceding paragraph. 

    (e)
Delivery
      of authenticated
      global Note by electronic means. Where the Fiscal and Paying Agent delivers
      any authenticated global Note which is a NGN to a Common Safekeeper for
      effectuation using electronic means, it is authorised and instructed to destroy
      the global Note retained by it following its receipt of confirmation from the
      Common Safekeeper that the relevant global Note has been effectuated.

    (f)
Exchange
      of permanent global
      Note; certification requirements. Holders of Notes desiring to exchange
      their interests in any permanent global Note for definitive Notes in bearer
      form
      or (if the relevant Corporate Order so allows) for definitive Notes in
      registered form shall instruct Euroclear, Clearstream, Luxembourg or other
      clearance system, as the case may be, to request such exchange on their behalf
      and shall deliver to Euroclear, Clearstream, Luxembourg or such other clearance
      system, as the case may be, a certificate substantially in the form set forth
      in
      Exhibit C-1 hereto, copies of which certificate shall be available at the
      offices of Euroclear, Clearstream, Luxembourg or other clearance system, the
      Fiscal and Paying Agent and each other paying agent of the relevant Issuer
      and
      (in the case of Notes issued by an Issuer other than GE Capital) the Guarantor.
      Upon the request of the Common Depositary (in the case of a CGN) or the Common
      Service Provider (in the case of a NGN), acting on behalf of Euroclear,
      Clearstream, Luxembourg and/or other clearance system (in the case of a CGN),
      acting in turn on behalf of such holders, the Fiscal and Paying Agent shall,
      upon 30 days' written notice, authenticate and deliver outside the United States
      and outside the jurisdiction of incorporation or organization of the relevant
      Issuer (except in compliance with the securities and other laws and regulations
      of such jurisdiction, including any applicable laws and regulations of any
      political subdivision thereof) to or for the account of such holders, definitive
      Notes in an aggregate principal amount equal to the aggregate principal amount
      of such permanent global Note, but only upon delivery by Euroclear, Clearstream,
      Luxembourg and/or other clearance system, acting on behalf of such owners,
      to
      the Fiscal and Paying Agent or its duly authorized attorney-in-fact of a
      certificate or certificates substantially in the form set forth in Exhibit
      C-2
      hereto. All expenses incurred as a result of any such exchange shall be paid
      by
      the relevant Issuer or (in the case of Notes issued by an Issuer other than
      GE
      Capital) the Guarantor. Notwithstanding anything to the contrary contained
      in
      this subsection 3(e), the Fiscal Agent shall not be required to exchange the
      entire aggregate principal amount of a permanent global Note for definitive
      Bearer Notes in the event holders of less than the entire aggregate principal
      amount of the permanent global Note have requested definitive Bearer Notes,
      provided the operating rules and regulations of the clearance system then in
      effect would permit less than the entire aggregate principal amount of the
      permanent global Note to be so exchanged. 

     

    7

    Each
      permanent global Note shall in
      all respects be entitled to the same benefits under this Agreement as definitive
      Notes authenticated and delivered hereunder. 

    Any
      certification referred to in
      Section 3(c) or (d) above which is delivered to the Fiscal and Paying
      Agent by Euroclear, Clearstream, Luxembourg or other clearance system, as the
      case may be, may be relied upon by the Fiscal and Paying Agent as conclusive
      evidence that the corresponding certification or certifications of the holder
      or
      holders have been delivered to Euroclear, Clearstream, Luxembourg or such other
      clearance system, as the case may be, pursuant to the terms of this Agreement
      and the terms of the Notes. 

    (g)
Authentication
      of Registered
      Notes. If so specified in the applicable Corporate Order, Notes of any
      Series may be issued in fully registered form. Such Corporate Order will specify
      whether Registered Notes of such Series may be issued in exchange for Bearer
      Notes of such Series and whether the Notes of such Series may initially be
      issued in permanent global or definitive form. Registered Notes shall be
      authenticated by the Fiscal and Paying Agent or by a duly authorized officer
      or
      attorney-in-fact of the Fiscal and Paying Agent and, in the case of permanent
      global Registered Notes, registered in the name of a nominee for and deposited
      with the Common Depositary for the accounts of Euroclear, Clearstream,
      Luxembourg, and/or another recognized clearance system, for credit to the
      respective securities clearance accounts of the relevant Agents (or to such
      other accounts as they may have directed) maintained with Euroclear,
      Clearstream, Luxembourg, another clearance system or The Depository Trust
      Company in New York City for credit to the respective accounts of the relevant
      Agents (or to such other accounts as they may have directed) maintained with
      The
      Depository Trust Company or such other clearance and settlement organization
      as
      is specified in the applicable Corporate Order. 

    4.
Exchange
      and Registration of
      Transfer of Notes. 

    (a)
Exchange
      of Registered
      Notes. Registered Notes of any Series may be exchanged for a like aggregate
      principal amount of Registered Notes of the same Series of other authorized
      denominations. Bearer Notes will not be issuable in exchange for Registered
      Notes. 

    If
      so provided in the relevant
      Corporate Order, Bearer Notes of any Series (with all unmatured coupons, if
      any,
      and all matured coupons, if any, then in default, attached thereto) will be
      exchangeable (upon the terms, set forth in Section 3) for Registered Notes
      of the same Series of any authorized denominations and in an equal aggregate
      principal amount. Bearer Notes surrendered in exchange for Registered Notes
      after the close of business on (i) any record date with respect to any
      regular payment of interest and before the opening of business at such office
      on
      the relevant interest payment date or (ii) any record date to be
      established for the payment of defaulted interest and before the opening of
      business on the related proposed date for payment of defaulted interest, shall
      be surrendered without the coupon relating to such date for payment of interest.
      

    Notes
      to be exchanged pursuant to
      the preceding two paragraphs shall be surrendered, at the option of the holders
      thereof, either at the office or agency designated and maintained by the
      relevant Issuer and (in the case of Notes issued by an Issuer other than GE
      Capital) the Guarantor for such purpose in accordance with the provisions of
      Section 5 or at any of such other offices or agencies as may be designated
      and maintained by such Issuer and the Guarantor for such purpose in accordance
      with the provisions of Section 5, and such Issuer shall execute and
      register, the Guarantor shall cause the Guarantee to be endorsed thereon and
      the
      Fiscal and Paying Agent shall authenticate and deliver in exchange therefor
      the
      Note or Notes which the Noteholder making the exchange shall be entitled to
      

     

    8

    receive.
      The term "Noteholder,"
      "holder of Notes," or other similar terms, shall mean, (a) with respect to
      any Registered Note, the person in whose name at the time such Registered Note
      is registered on the books of the relevant Issuer kept for that purpose in
      accordance with the terms hereof or (b) with respect to any Bearer Note,
      the bearer thereof. Each person designated by the relevant Issuer as a person
      authorized to register and register transfer of the Notes is sometimes herein
      referred to as a "Registrar." In no event shall such Issuer designate more
      than
      one Registrar for each Series of Registered Notes. No person shall at any time
      be designated as or act as a Registrar unless such person is at such time
      empowered under applicable law to act as such and duly registered to act as
      such
      under and to the extent required by applicable law and regulations.

    (b)
Transfers
      of Registered
      Notes. Each Registrar shall keep, at each such office or agency outside of
      the United Kingdom, a register for each Series of Notes (for which it has been
      appointed Registrar) issuable in registered form (the registers of all
      Registrars being herein sometimes collectively referred to as the "Register")
      in
      which, subject to such reasonable regulations as it may prescribe, the Registrar
      shall register Registered Notes and shall register the transfer of Registered
      Notes as herein provided. The Register shall be in written form or in any other
      form capable of being converted into written form within a reasonable time.
      At
      all reasonable times the Register shall be open for inspection by the relevant
      Issuer, the Guarantor, the Fiscal and Paying Agent and any Registrar. Upon
      due
      presentment for registration of transfer of any Registered Note of any Series
      at
      any designated office or agency, such Issuer shall execute, the Guarantor shall
      (in the case of Notes issued by an Issuer other than GE Capital) cause the
      Guarantee to be endorsed thereon, the Registrar shall register and the Fiscal
      and Paying Agent shall authenticate and deliver in the name of the transferee
      or
      transferees a new Registered Note or Registered Notes of the same Series for
      an
      equal aggregate principal amount. Registration or registration of transfer
      of
      any Registered Note by any Registrar in the Register maintained by such
      Registrar, and delivery of such Registered Note, duly authenticated, shall
      be
      deemed to complete the registration or registration of transfer of such
      Registered Note. 

    All
      Registered Notes presented for
      registration of transfer or for exchange, redemption, repayment or payment
      shall
      (i) be duly endorsed by, or be accompanied by a written instrument or
      instruments of transfer or exchange in form satisfactory to the Issuer, the
      Guarantor (in the case of Notes issued by an Issuer other than GE Capital)
      and
      the Registrar duly executed by, the holder or his attorney duly authorized
      in
      writing and (ii) be accompanied by a duly completed Form W-8BEN or other
      applicable form required by the United States Internal Revenue Code of 1986,
      as
      amended, of the transferee. 

    If
      so specified in the applicable
      Corporate Order, the transfer of some or all of the Registered Notes of any
      Series may be subject to the restrictions set forth therein. If so specified
      in
      such Corporate Order, the Registrar for such Notes shall not register the
      transfer of any such Notes absent compliance with such restrictions.

    (c)
Exchange
      and transfer of
      Bearer Notes. Bearer Notes in definitive form of any Series will be
      exchangeable for Bearer Notes in definitive form of the same Series in other
      authorized denominations, in an equal aggregate principal amount. Bearer Notes
      to be so exchanged shall be surrendered, at the option of the holders thereof,
      at the office of any Paying Agent appointed by the relevant Issuer and (in
      the
      case of Notes issued by an Issuer other than GE Capital) the Guarantor to
      perform such service in accordance with the provisions of Section 5, and
      such Issuer shall execute, the Guarantor shall cause the Guarantee to be
      endorsed thereon and such Paying Agent shall authenticate and deliver in
      exchange therefor the Bearer Note or Notes which the Noteholder making the
      exchange shall be entitled to receive. Bearer Notes and any coupons appertaining
      thereto will be transferable by delivery. 

     

    9

    (d)
Repository
      of master list of
      holders of Registered Notes. The relevant Issuer will at all times designate
      one person (who may be such Issuer and who need not be the Registrar of any
      Series) to act as repository of a master list of names and addresses of the
      holders of the Registered Notes. J.P. Morgan Bank Luxembourg S.A. shall act
      as
      such repository unless and until some other person is, by written notice from
      such Issuer to J.P. Morgan Bank Luxembourg S.A., copied to the fiscal and paying
      agent and each Registrar, designated by such Issuer to act as such. Such Issuer
      shall cause each Registrar to furnish to such repository, on a current basis,
      such information as to all registrations of transfer and exchanges effected
      by
      such Registrar, as may be necessary to enable such repository to maintain such
      master list on as current a basis as is practicable. 

    (e)
Miscellaneous.
      Except as
      provided in Section 3(d), no service charge shall be made for any exchange
      or registration of transfer of Notes, but the relevant Issuer and (in the case
      of Notes issued by an Issuer other than GE Capital) the Guarantor may require
      payment of a sum sufficient to cover any transfer taxes or other governmental
      charge that may be imposed in connection therewith. 

    The
      relevant Issuer shall not be
      required (i) to issue, register the transfer of or exchange Notes to be
      redeemed for a period of fifteen calendar days preceding the first publication
      of the relevant notice of redemption, or if Registered Notes are outstanding
      and
      there is no publication, the mailing of the relevant notice of redemption,
      or
      (ii) to register the transfer of or exchange any Registered Notes selected
      for redemption, in whole or in part, except the unredeemed portion of any such
      Registered Notes being redeemed in part, or (iii) to exchange any Bearer
      Notes selected for redemption, except that such Bearer Notes may be exchanged
      for Registered Notes of like tenor, provided that such Registered Notes shall
      be
      simultaneously surrendered for redemption or (iv) to register transfer of
      or exchange any Notes surrendered for optional repayment, in whole or in part.
      

    Notwithstanding
      anything herein or
      in the terms of any Notes to the contrary, none of the relevant Issuer, the
      Fiscal and Paying Agent or any agent of such Issuer or the Fiscal and Paying
      Agent shall be required to exchange any Bearer Note for a Registered Note if
      such exchange would result in adverse income tax consequences to such Issuer
      (such as, for example, the inability of such Issuer to deduct from its income,
      as computed for income tax purposes, the interest payable on the Bearer Notes)
      under (i) then applicable United States Federal income tax laws, or
      (ii) in the case of an Issuer other than GE Capital, then applicable income
      tax laws or regulations of the jurisdiction of incorporation or organization
      of
      the Issuer or any political subdivision thereof or therein. 

    5.
Payments
      of Principal, Premium
      and Interest; Paying Agents. 

    (a)
Payment
      generally. In
      order to provide for the payment of the principal of, premium and interest
      on
      each Series of Notes as the same shall become due and payable on any payment
      date, the relevant Issuer hereby agrees to pay to the Fiscal and Paying Agent
      at
      the place and in the manner specified below or to such account or at such
      offices of any paying agent outside of the United States and, in the case of
      Notes issued by an Issuer other than GE Capital, outside the jurisdiction of
      incorporation or organization of the relevant Issuer, as the Fiscal and Paying
      Agent shall specify in writing to such Issuer and (in the case of Notes issued
      by an Issuer other than GE Capital) the Guarantor, such writing to be delivered
      not less than five calendar days prior to the payment date, in such currency
      or
      currency units as shall be required to make the payment due on such payment
      date, on each interest payment date and on 

     

    10

    the
      maturity date of such Series of
      Notes or any date fixed for redemption or acceleration of such Series of Notes
      (in each case determined in accordance with the terms of such Notes), in
      immediately available funds available on such interest payment, maturity,
      redemption or acceleration date, as the case may be, in an aggregate amount
      which (together with any funds then held by the Fiscal and Paying Agent and
      available for the purpose) shall be sufficient to pay the entire amount of
      the
      principal of, premium and interest on such Series of Notes (including Additional
      Amounts (as defined below), if any, becoming due on such interest payment,
      maturity, redemption or acceleration date), and the Fiscal and Paying Agent
      shall hold such amount in trust and apply it to the payment of any such
      principal, premium or interest on such interest payment, maturity, redemption
      or
      acceleration date. Nothing contained herein shall be construed to require the
      Fiscal and Paying Agent or any other paying agent to make any payment to the
      holder of a Note until funds have been received from the relevant Issuer
      pursuant to this Section. 

    (b)
Payments
      on temporary global
      Notes; certification requirements. Holders of any temporary global Note may
      receive interest payments prior to the Exchange Date of such temporary global
      Note; provided such holders deliver a certificate or certificates to Euroclear,
      Clearstream, Luxembourg or, if specified in the Corporate Order, other
      recognized clearing system substantially in the form set forth in Exhibit B-1
      and instruct Euroclear, Clearstream, Luxembourg or other clearance system,
      as
      the case may be, to request such interest payment on their behalf. Upon the
      request of the Common Depositary (in the case of a CGN) or the Common Service
      Provider (in the case of a NGN), acting on behalf of Euroclear, Clearstream,
      Luxembourg or other clearance system, acting in turn on behalf of holders of
      Notes, the Fiscal and Paying Agent shall make payments of interest to the
      holders of interests in temporary global Notes, but only upon delivery by
      Euroclear, Clearstream, Luxembourg, or other clearance system, acting on behalf
      of such owners, to the Fiscal and Paying Agent or its duly authorized
      attorney-in-fact of a certificate or certificates substantially in the form
      set
      forth in Exhibit B-2 hereto. 

    In
      the event of redemption or
      acceleration of all or any part of any temporary global Note prior to its
      Exchange Date, holders will be entitled to receive payment on or after the
      date
      fixed for such redemption or on which such acceleration occurs upon compliance
      by such holders and Euroclear, Clearstream, Luxembourg or other clearance
      system, as applicable, with the provisions of the preceding paragraph of this
      Section. 

    (c)
Payments
      on Registered
      Notes. The person in whose name any Registered Note of a particular Series
      is registered at the close of business or on any Record Date (as hereinafter
      defined) with respect to any interest payment date for such Series shall be
      entitled to receive the interest payable on such interest payment date
      notwithstanding the cancellation of such Registered Note upon any registration
      of transfer or exchange subsequent to the Record Date and prior to such interest
      payment date; provided however, that (i) if and to the extent that the
      relevant Issuer shall default in the payment of the interest on such interest
      payment date, such defaulted interest shall be paid to the persons in whose
      names outstanding Registered Notes of such Series are registered on a subsequent
      Record Date established by notice given by mail by or on behalf of such Issuer
      to the holders of such Registered Notes not less than 15 calendar days preceding
      such subsequent Record Date, such Record Date to be not less than five calendar
      days preceding the date or payment of such defaulted interest and
      (ii) interest payable at maturity, redemption or repayment of such
      Registered Note shall be payable to the person to whom principal shall be
      payable. The term "Record Date" as used in this Section with respect to any
      regular interest payment date, shall mean the fifteenth calendar day preceding
      such interest payment date, whether or not such fifteenth calendar day shall
      be
      a Business Day (as defined in Section 22). 

     

    11

    Interest
      on Registered Notes may at
      the option of the relevant Issuer be paid by check mailed to the persons
      entitled thereto at their respective addresses as such appear in the Register,
      or, at the option of any holder of $5,000,000 (or the equivalent thereof in
      one
      or more foreign or composite currencies) or more aggregate principal amount
      of
      Registered Notes of any Series and subject to applicable laws and regulations,
      be made by transfer to an account denominated in the currency in which such
      payment is to be made, maintained by such holder, if appropriate wire transfer
      instructions have been received by such Issuer or its agent not less than 10
      calendar days prior to the applicable interest payment date. 

    (d)
Payments
      on Bearer Notes.
      Payments on Bearer Notes or the coupons appertaining thereto will, upon
      presentation of such Notes or coupons at a designated office outside of the
      United States, at the holder's option and subject to applicable laws and
      regulations, be made by check or wire transfer to an account denominated in
      the
      Specified Currency (unless otherwise provided in the applicable Corporate Order)
      in which such payment is to be made, maintained by such holder with a bank
      outside the United States and (in the case of Notes issued by an Issuer other
      than GE Capital) outside the jurisdiction of organization of the Issuer, if
      appropriate wire transfer instructions have been received by the relevant Issuer
      or its agent not less than 10 calendar days prior to the applicable interest
      payment date. 

    The
      relevant Issuer will maintain
      one or more offices or agencies in a city or cities located outside the United
      States and (in the case of Notes issued by an Issuer other than GE Capital)
      outside the country of incorporation or organization of the relevant Issuer
      (including any city or country in which such an agency is required to be
      maintained under the rules of any stock exchange on which any of the Notes
      are
      listed) where any Bearer Notes issued hereunder and coupons, if any,
      appertaining thereto may be presented for payment. No payment on any Bearer
      Note
      or coupon will be made upon presentation of such Bearer Note or coupon at an
      agency of the relevant Issuer or the Guarantor within the United States or
      (in
      the case of Notes issued by an Issuer other than GE Capital) within the country
      of incorporation or organization of the relevant Issuer nor will any payment
      be
      made by transfer to an account in, or by check mailed to an address in, the
      United States or (in the case of Notes issued by an Issuer other than GE
      Capital) in the country of incorporation or organization of the relevant Issuer
      unless pursuant to applicable United States law or the laws or regulations
      of
      the country of incorporation or organization of the relevant Issuer or any
      political subdivision thereof or therein (in the case of Notes issued by an
      Issuer other than GE Capital) then in effect, such payment can be made without
      adverse tax consequences to such Issuer. Notwithstanding the foregoing,
      (a) payments in U.S. dollars on Bearer Notes and coupons appertaining
      thereto may be made at an agency of such Issuer maintained in the Borough of
      Manhattan, The City of New York if such payment in U.S. dollars at each agency
      maintained by such Issuer outside the United States for payment on such Bearer
      Notes is illegal or effectively precluded by exchange controls or other similar
      restrictions, (b) payments in Canadian dollars on Bearer Notes and Coupons
      appertaining thereto may be made at an agency of such Issuer maintained in
      the
      City of Toronto if such payment in Canadian dollars at each agency maintained
      by
      such Issuer outside Canada for payment on such Bearer Notes is illegal or
      effectively precluded by exchange controls or similar restrictions, and
      (c) (in the case of Notes issued by an Issuer other than GE Capital)
      payments in such other currencies on Bearer Notes and Coupons appertaining
      thereto may be made at such location within the country of incorporation or
      organization of the relevant Issuer (other than the United States) as may be
      specified in the applicable Corporate Order or otherwise as permitted by
      applicable laws and regulations of such country or any political subdivision
      thereof or therein. 

    (e)
Place
      of payment. As long
      as any Registered Notes remain outstanding hereunder, the relevant Issuer will
      designate and maintain in London, England an office or agency where such
      Registered Notes may be presented for payment, and where such Notes may be
      presented for registration 

     

    12

    of
      transfer and for exchange as
      provided in this Agreement and, for so long as any Registered Notes are listed
      and/or admitted to trading on or by any stock exchange, competent authority
      and
      or market there will at all times be an office or agency for such purposes
      with
      a specified office in each location required by the rules and regulations of
      the
      relevant stock exchange(s), competent authority(ies) and/or market(s), provided
      always that the Register for such Registered Notes shall be maintained outside
      of the United Kingdom. 

    The
      relevant Issuer may from time to
      time designate one or more additional offices or agencies where Notes and any
      coupons appertaining thereto may be presented for payment, where Notes may
      be
      presented for exchange as provided in this Agreement and where Registered Notes
      may be presented for registration of transfer as in this Agreement provided,
      and
      such Issuer may from time to time rescind any such designation, as such Issuer
      may deem desirable or expedient; provided, however, that no such designation
      or
      rescission shall in any manner relieve such Issuer of its obligation to maintain
      the agencies provided for in this Section. Such Issuer will give to the Fiscal
      and Paying Agent prompt written notice of any such designation or rescission
      thereof. 

    The
      relevant Issuer will give to the
      Fiscal and Paying Agent written notice of the location of each such office
      or
      agency and of any change of location thereof. In case such Issuer shall fail
      to
      give such notice of the location or of any change in the location thereof,
      presentations and demands may be made and notices may be served at the principal
      office of the Fiscal and Paying Agent in London, England. 

    The
      relevant Issuer and (in the case
      of Notes issued by an Issuer other than GE Capital) the Guarantor hereby
      initially designates the offices of J.P. Morgan Bank Luxembourg S.A. as the
      office or agency where Registered Notes may be presented for payment, for
      registration of transfer and for exchange as in this Agreement provided. Such
      office of J.P. Morgan Bank Luxembourg S.A. is also designated as repository
      pursuant to Section 4 for the master list of the names and addresses of the
      holders of Registered Notes. 

    (f)
Payments
      by the
      Guarantor. If the relevant Issuer shall fail to provide for the amounts
      payable on any Notes issued by an Issuer other than GE Capital, or coupons
      appertaining thereto, if any, the Guarantor shall, subject to its right to
      avail
      itself of defenses under all relevant laws for the prescription of actions
      in
      respect of such Notes and coupons appertaining thereto, forthwith upon receipt
      of notice of such failure from the Fiscal and Paying Agent (who shall give
      such
      notice forthwith upon such failure) deliver or cause to be delivered to the
      Fiscal and Paying Agent the amount thereof (to the extent that the same has
      not
      then been delivered by the relevant Issuer), which amount shall be held and
      applied in payment of such amounts by the Fiscal Agent and Paying Agent in
      all
      respects as if received from the relevant Issuer under this Agreement.

    (g)
Taxes;
      foreign exchange
      clearance. The Fiscal Agent hereby agrees to use its best efforts to obtain,
      prior to any payment date on the Notes, any tax or foreign exchange clearance
      or
      other authorization required under the laws of the United States or of the
      country of incorporation or organization of the relevant Issuer (in the case
      of
      Notes issued by an Issuer other than GE Capital) or any political subdivision
      thereof or therein or any applicable foreign country or other authority with
      respect to the payment to be made on the Notes on such date. 

     

    13

    6.
Redemption;
      Sinking Funds;
      Repayment at the Option of the Holder. 

    (a)
      The provisions of this Section
      shall be applicable, as the case may be, (i) to any Notes which are
      redeemable or subject to repayment at the option of the holder before their
      maturity and (ii) to any sinking fund for the retirement of any Notes, in
      either case except as otherwise specified as contemplated by Section 2 for
      any Series of Notes. 

    The
      minimum amount of any sinking
      fund payment provided for by the terms of any Notes is herein referred to as
      a
      ?mandatory sinking fund payment,? and any payment in excess of such minimum
      amount provided for by the terms of such Notes is herein referred to as an
      ?optional sinking fund payment.? 

    In
      case the relevant Issuer shall
      desire to exercise any right to redeem all, or, as the case may be, any part
      of,
      the Notes of any Series in accordance with their terms, it shall fix a date
      for
      redemption. Notice of redemption to the holders of Registered Notes to be
      redeemed in whole or in part at the option of such Issuer shall be given by
      mailing notice of such redemption by first class mail, postage prepaid, at
      least
      30 days and not more than 60 days prior to the date fixed for redemption to
      such
      holders at their last addresses as they shall appear in the Register. Notice
      of
      redemption to holders of Bearer Notes shall be published in one leading English
      language daily newspaper with general circulation in London, England or, if
      publication in London is not practical, elsewhere in Western Europe. Notice
      of
      redemption to holders of Bearer Notes that have been listed on any stock
      exchange, competent authority and/or market shall be published in accordance
      with the applicable rules and regulations promulgated by such exchange,
      competent authority and/or market. The term "daily newspaper" shall mean a
      newspaper customarily published on each business day in morning editions,
      whether or not it shall be published in Saturday, Sunday or holiday editions.
      Such notice is expected to be published in the Financial Times, and shall be
      published at least once a week for three successive weeks prior to the date
      fixed for redemption, the first such publication to be not less than 30 days
      nor
      more than 60 days prior to the date fixed for redemption. If by reason of the
      temporary or permanent suspension of publication of any newspaper or by reason
      of any other cause, it shall be impossible to make publication of such notice
      in
      a daily newspaper as herein provided, then such publication or other notice
      in
      lieu thereof as shall be made by the Fiscal and Paying Agent shall constitute
      sufficient publication of such notice, if such publication or other notice
      shall, so far as may be possible, approximate the terms and conditions of the
      publication in lieu of which it is given. The Fiscal and Paying Agent shall
      promptly furnish to the relevant Issuer and to each other paying agent of such
      Issuer a copy of each notice of redemption so published. Any notice if given
      in
      the manner herein provided shall be conclusively presumed to have been duly
      given, whether or not the holder receives such notice. In any case, failure
      to
      give notice or any defect in the notice to the holder of any Note of a Series
      designated for redemption in whole or in part shall not affect the validity
      of
      the proceedings for the redemption of any other Note of such Series.

    Each
      such notice of redemption shall
      specify the date fixed for redemption, the redemption price at which the Notes
      of such Series are to be redeemed, the place or places of payment, that payment
      will be made upon presentation and surrender of such Notes and, in the case
      of
      Notes issued with coupons, of all coupons appertaining thereto maturing after
      the date fixed for redemption, that any interest accrued to the date fixed
      for
      redemption will be paid as specified in said notice, and that on and after
      said
      date any interest thereon or on the portions thereof to be redeemed will cease
      to accrue. If less than all the Notes of a Series are to be redeemed the notice
      of redemption shall specify the number or numbers of the Notes to be redeemed.
      In case any Note is to be redeemed in part only, the notice of redemption shall
      state the portion of the principal amount thereof to be redeemed and shall
      state
      that on and after the date fixed for 

     

    14

    redemption,
      upon surrender of such
      Note, a new Note or Notes of the same Series in principal amount equal to the
      unredeemed portion thereof, together with any unmatured coupons appertaining
      thereto, will be issued. 

    On
      or prior to the redemption date
      specified in the notice of redemption given as provided in this Section, the
      relevant Issuer will deposit with the Fiscal and Paying Agent or with one or
      more paying agents an amount of money sufficient to redeem on the redemption
      date all the Notes or portions thereof so called for redemption, together with
      accrued interest to the date fixed for redemption. If less than all the Notes
      of
      a Series are to be redeemed such Issuer will give the Fiscal and Paying Agent
      notice not less than 60 days prior to the redemption date as to the aggregate
      principal amount of Notes of such Series to be redeemed and the Fiscal and
      Paying Agent shall select or cause to be selected, in such manner as in its
      sole
      discretion it shall deem appropriate and fair, the Notes or portions thereof
      to
      be redeemed. Notes of a Series may be redeemed in part only in multiples of
      the
      smallest authorized denomination of that Series. 

    (b)
      If notice of redemption has been
      given as provided in this Section, the Notes or portions of Notes of the Series
      with respect to which such notice has been given shall become due and payable
      on
      the date and at the place or places stated in such notice at the applicable
      redemption price together with any interest accrued to the date fixed for
      redemption, and on and after said date (unless the relevant Issuer shall default
      in the payment of Notes or portions of such Notes, together with any interest
      accrued to said date) any interest on the Notes or portions of Notes of such
      Series so called for redemption shall cease to accrue, and the unmatured
      coupons, if any, appertaining thereto shall be void. On presentation and
      surrender of such Notes at a place of payment in said notice specified, together
      with all coupons, if any, appertaining thereto maturing after the date fixed
      for
      redemption, the said Notes or the specified portions thereof shall be paid
      and
      redeemed by the relevant Issuer at the applicable redemption price, together
      with any interest accrued thereon to the date fixed for redemption; provided,
      however, that payment of interest becoming due on the date fixed for redemption
      shall be payable in the case of Notes with coupons attached thereto, to the
      holders of the coupons for such interest upon surrender thereof, and in the
      case
      of Registered Notes, to the persons to whom the principal thereof shall be
      payable. 

    If
      any Note issued with coupons is
      surrendered for redemption and is not accompanied by all appurtenant coupons
      maturing after the date fixed for redemption, the surrender of such missing
      coupon or coupons may be waived by the relevant Issuer and the Fiscal and Paying
      Agent, if there be furnished to each of them such security or indemnity as
      they
      may require to save each of them harmless. 

    Upon
      presentation of any Note
      redeemed in part only, the relevant Issuer shall execute and the Fiscal and
      Paying Agent shall authenticate and deliver to the holder thereof, at the
      expense of such Issuer, a new Note or Notes of the same Series, of authorized
      denominations, together with all unmatured coupons, if any, appertaining
      thereto, in aggregate principal amount equal to the unredeemed portion of the
      Note so presented. 

    In
      lieu of making all or any part of
      any mandatory sinking fund payment with respect to any Notes in cash the
      relevant Issuer may at its option (a) deliver to the Fiscal and Paying
      Agent Notes, together with all unmatured coupons, if any, appertaining thereto,
      of the same Series theretofore purchased or otherwise acquired by such Issuer,
      or (b) receive credit for the principal amount of Notes of the same Series
      which have been redeemed either at the election of such Issuer pursuant to
      the
      terms of such Notes or through the application of permitted optional sinking
      fund payments pursuant to the terms of such Notes; provided that such Notes
      have
      not previously been so credited. Such Notes shall be received and credited
      for
      such purpose by the Fiscal and Paying Agent at the redemption price specified
      in
      such Notes for redemption through operation of the sinking fund and the amount
      of such mandatory sinking fund payment shall be reduced accordingly.

     

    15

    Not
      less than 60 days prior to each
      sinking fund payment date for any Notes, the relevant Issuer will deliver to
      the
      Fiscal and Paying Agent a certificate signed by an Issuer Authorized
      Representative specifying the amount of the next ensuing sinking fund payment
      for such Notes pursuant to the terms thereof, the portion thereof, if any,
      which
      is to be satisfied by payment of cash (which cash may be deposited with the
      Fiscal and Paying Agent or with one or more paying agents) and the portion
      thereof, if any, which is to be satisfied by delivering and crediting Notes
      of
      the same Series pursuant to this Section (which Notes, if not theretofore
      delivered, will accompany such certificate) and whether such Issuer intends
      to
      exercise its right to make a permitted optional sinking fund payment with
      respect to such Notes. Such certificate shall also state that no Event of
      Default (as defined in Section 8 below) has occurred and is continuing with
      respect to such Notes. Such certificate shall be irrevocable and upon its
      delivery the relevant Issuer shall be obligated to make the cash payment or
      payments therein referred to, if any, on or before the next succeeding sinking
      fund payment date. In the case of the failure of the relevant Issuer to deliver
      such certificate (or to deliver the Notes specified in this paragraph), the
      sinking fund payment due on the next succeeding sinking fund payment date for
      such Notes shall be paid entirely in cash and shall be sufficient to redeem
      the
      principal amount of such Notes subject to a mandatory sinking fund payment
      without the option to deliver or credit Notes as provided in this Section and
      without the right to make any optional sinking fund payment, if any, with
      respect to such Notes. 

    Any
      sinking fund payment or payments
      (mandatory or optional) made in cash plus any unused balance of any preceding
      sinking fund payments made in cash which shall equal or exceed 100,000 units
      of
      the Specified Currency with respect to the particular Series (or a lesser sum
      if
      the relevant Issuer shall so request or determine) with respect to any Notes
      shall be applied by the Fiscal and Paying Agent on the sinking fund payment
      date
      on which such payment is made (or, if such payment is made before a sinking
      fund
      payment date, on the next sinking fund payment date following the date of such
      payment) to the redemption of such Notes at the redemption price specified
      in
      such Notes for operation of the sinking fund together with accrued interest,
      if
      any, to the date fixed for redemption. Any sinking fund moneys not so applied
      or
      allocated by the Fiscal and Paying Agent to the redemption of Notes shall be
      added to the next cash sinking fund payment received by the Fiscal and Paying
      Agent for such Notes and, together with such payment (or such amount so
      segregated) shall be applied in accordance with the provisions of this Section.
      Any and all sinking fund moneys with respect to any Notes held by the Fiscal
      and
      Paying Agent on the last sinking fund payment date with respect to such Notes
      and not held for the payment or redemption of particular Notes of such Series
      shall be applied by the Fiscal and Paying Agent, together with other moneys,
      if
      necessary, to be deposited (or segregated) sufficient for the purpose, to the
      payment of the principal of the Notes of that Series at maturity. 

    The
      Fiscal and Paying Agent shall
      select or cause to be selected the Notes to be redeemed upon such sinking fund
      payment date in the manner specified in the last paragraph of subsection
      (a) and the relevant Issuer shall cause notice of the redemption thereof to
      be given in the manner provided in subsection (b) except that the notice of
      redemption shall also state that the Notes are being redeemed by operation
      of
      the sinking fund. Such notice having been duly given, the redemption of such
      Notes shall be made upon any Series of Notes the terms and in the manner stated
      in subsection (b). 

    On
      or before each sinking fund
      payment date, the relevant Issuer shall pay to the Fiscal and Paying Agent
      in
      cash a sum equal to any interest accrued to the date fixed for redemption of
      Notes or portions thereof to be redeemed on such sinking fund payment date
      pursuant to this Section. 

     

    16

    Neither
      the Fiscal and Paying Agent
      nor the relevant Issuer shall redeem any Notes of any Series with sinking fund
      moneys or give any notice of redemption of such Notes by operation of the
      sinking fund for such Series during the continuance of a default in payment
      of
      interest, if any, on such Notes or of any Event of Default (other than an Event
      of Default occurring as a consequence of this paragraph) with respect to Notes
      of such Series, except that if the notice of redemption of any such Notes shall
      theretofore have been given in accordance with the provisions hereof, the Fiscal
      and Paying Agent shall redeem such Notes if cash sufficient for that purpose
      shall be deposited with the Fiscal and Paying Agent for that purpose in
      accordance with the terms of this Section. Except as aforesaid, any moneys
      in
      the sinking fund for Notes of such Series at the time when any such default
      or
      Event of Default shall occur and any moneys thereafter paid into such sinking
      fund shall, during the continuance of such default or Event of Default, be
      held
      as security for the payment of such Notes; provided, however, that in case
      such
      default or Event of Default shall have been cured or waived as provided herein,
      such moneys shall thereafter be applied on the next sinking fund payment date
      for Notes of such Series on which such moneys may be applied pursuant to the
      provisions of this Section. 

    (c)
      Any Series of Notes may be made,
      by provision contained in or established pursuant to a Corporate Order pursuant
      to Section 2(c) hereof, subject to repayment, in whole or in part, at the
      option of the holder on a date or dates specified prior to maturity, at a price
      equal to 100% of the principal amount thereof, together with accrued interest
      to
      but excluding the date of repayment, on such notice as may be required,
      provided, however, that the holder of a Note of such Series may only elect
      partial repayment in an amount that will result in the portion of such Note
      that
      will remain outstanding after such repayment constituting an authorized
      denomination, or combination thereof, of Notes of such Series. 

    7.
Mutilated,
      Destroyed, Stolen
      or Lost Notes. 

    (a)
      The Fiscal and Paying Agent is
      hereby authorized to authenticate (and instruct the Common Safekeeper to
      effectuate any Eurosystem-eligible NGN) and deliver from time to time Notes
      of
      any Series, with all unmatured coupons attached, in exchange for or in lieu
      of
      Notes of such Series which become mutilated, defaced, destroyed, stolen or
      lost
      or Notes of such Series to which mutilated, defaced, destroyed, stolen or lost
      coupons appertain. In every case the applicant for a substituted Note of such
      Series or coupon appertaining thereto shall furnish to the relevant Issuer,
      the
      Guarantor (in the case of Notes issued by an Issuer other than GE Capital)
      and
      to the Fiscal and Paying Agent such security or indemnity as may be required
      by
      them to save each of them harmless, and, in every case of destruction, loss
      or
      theft, the applicant shall also furnish to such Issuer, the Guarantor and to
      the
      Fiscal and Paying Agent evidence to their satisfaction of the destruction,
      loss
      or theft of such Note or coupon and of the ownership thereof. Each Note
      authenticated, effectuated (as applicable) and delivered in exchange for or
      in
      lieu of any such Note shall carry all the rights to interest accrued and unpaid
      and to accrue which were carried by such Note and shall have attached thereto
      coupons such that neither gain nor loss in interest shall result from such
      exchange or substitution. 

    Upon
      the issuance of any substituted
      Note or coupon, the relevant Issuer may require the payment of a sum sufficient
      to cover any tax or other governmental charge that may be imposed in relation
      thereto and any other expenses connected therewith. In case any Note or coupon
      which has matured or is about to mature shall become mutilated or be destroyed,
      lost or stolen, the relevant Issuer may, instead of issuing a substituted Note,
      pay or authorized the payment of the same (without surrender thereof except
      in
      the case of a mutilated Note or coupon) if the applicant for such payment shall
      furnish to such Issuer, the Guarantor and to the Fiscal and Paying Agent such
      security or indemnity as may be required by them to save each of them harmless
      and, in case of destruction, loss or theft, evidence satisfactory to such
      Issuer, the Guarantor and the Fiscal and Paying Agent of the destruction, loss
      or theft of such Note or coupon and the ownership thereof. 

     

    17

    (b)
      All Notes and coupons
      surrendered for payment, redemption, repayment, exchange or registration of
      transfer or for credit against any sinking fund shall be delivered to, or to
      the
      order of, the Fiscal and Paying Agent for cancellation. The Fiscal and Paying
      Agent shall cancel and destroy, or procure the cancellation and destruction
      of,
      all such Notes and coupons and shall deliver a certificate of destruction to
      the
      relevant Issuer and (in the case of Notes issued by an Issuer other than GE
      Capital) the Guarantor. In the case of any global Note initially issued in
      temporary global form, which shall be destroyed by the Fiscal and Paying Agent
      upon exchange in full, the certificate of destruction shall state that a
      certification in the form required pursuant to the terms of such global Note
      was
      received with respect to each portion thereof exchanged for an interest in
      a
      Note in permanent global form or in definitive form. The Fiscal and Paying
      Agent
      is authorized by the relevant Issuer and instructed to, in the case of any
      Global Note which is a NGN, instruct Euroclear and Clearstream, Luxembourg
      to
      make appropriate entries in their records to reflect any such cancellation,
      as
      the case may be. 

    8.
Events
      of Default. The
      term "Events of Default" whenever used herein with respect to Notes of any
      Series which are expressed in the relevant Final Terms or Securities Note,
      as
      the case may be, as being senior and unsubordinated notes means any one of
      the
      following events and such other events as may be established with respect to
      the
      Notes of such Series as contemplated by Section 2 hereof, continued for the
      period of time, if any, and after the giving of notice, if any, designated
      in
      this Agreement or as may be established with respect to such Notes as
      contemplated by Section 2 hereof, as the case may be, unless it is either
      inapplicable or is specifically deleted or modified in the applicable Corporate
      Order under which such Series of Notes is issued, as the case may be, as
      contemplated by Section 2: 

     

    
      	 	(i)	default
              in the payment of any installment of interest (including
              Additional Amounts) upon any Note of such Series as and when the same
              shall become due and payable, and continuance of such default for a
              period
              of 30 days; or 

    

     

    
      	 	(ii)	default
              in the payment of the principal of, or premium, if any, on
              any Note of such Series as and when the same shall become due and payable
              whether at maturity, upon redemption, by declaration, repayment or
              otherwise; or 

    

     

    
      	 	(iii)	default
              in the making or satisfaction of any sinking fund payment
              or analogous obligation as and when the same shall become due and payable
              by the terms of any Notes of such Series; or

    

     

    
      	 	(iv)	failure
              on the part of the relevant Issuer and (in the case of
              Notes issued by an Issuer other than GE Capital) the Guarantor duly
              to
              observe or perform any other of the covenants or agreements on the
              part of
              such Issuer or the Guarantor in respect of the Notes of such Series
              contained in such Notes or this Agreement (other than a covenant or
              agreement in respect of the Notes of such Series a default in whose
              observance or performance is elsewhere in this Section specifically
              dealt
              with) continued for a period of 60 days after the date on which written
              notice of such failure, requiring such Issuer or the Guarantor to remedy
              the same, shall have been given to such Issuer, the Guarantor and the
              Fiscal and Paying Agent by the holders of at least twenty-five percent
              in
              aggregate principal amount of the Notes of such Series at the time
              outstanding; or 

    

     

    18

    
      	 	(v)	an
              event of default with respect to any other Series of Notes
              issued or hereafter issued pursuant to this Agreement or as defined
              in any
              indenture or instrument evidencing or under which GE Capital has at
              the
              date of this Agreement or shall hereafter have outstanding any
              indebtedness for borrowed money shall happen and be continuing and
              such
              other Series of Notes or such indebtedness, as the case may be, shall
              have
              been accelerated so that the same shall be or become due and payable
              prior
              to the date on which the same would otherwise have become due and payable,
              and such acceleration shall not be rescinded or annulled within ten
              calendar days after written notice thereof shall have been given to
              the
              relevant Issuer, the Guarantor and the Fiscal and Paying Agent by the
              holders of at least twenty-five percent in aggregate principal amount
              of
              the Notes of such Series at the time outstanding; provided, however,
              that
              if such event of default with respect to such other Series of Notes
              or
              under such indenture or instrument, as the case may be, shall be timely
              remedied or cured by GE Capital, or timely waived by the holders of
              such
              other Series of Notes or of such indebtedness, as the case may be,
              then
              the Event of Default hereunder by reason thereof shall be deemed likewise
              to have been thereupon remedied, cured or waived without further action
              upon the part of either the Fiscal and Paying Agent or any of the
              Noteholders of such Series; or 

    

     

    
      	 	(vi)	in
              the case of Notes issued by GEC Australia Funding, an event of
              default with respect to any other Series of Notes issued or hereafter
              issued by GEC Australia Funding pursuant to this Agreement or as defined
              in any indenture or instrument evidencing or under which GEC Australia
              Funding has at the date of this Agreement or shall hereafter have
              outstanding any indebtedness for borrowed money in the aggregate principal
              amount of at least A$10,000,000 (or the equivalent thereof in one or
              more
              foreign or composite currencies) shall happen and be continuing and
              such
              other Series of Notes or such indebtedness, as the case may be, of
              GEC
              Australia Funding shall have been accelerated so that the same shall
              be or
              become due and payable prior to the date on which the same would otherwise
              have become due and payable, and such acceleration shall not be rescinded
              or annulled within ten calendar days after written notice thereof shall
              have been given to GEC Australia Funding, as the case may be, the
              Guarantor and the Fiscal and Paying Agent by the holders of at least
              twenty-five percent in aggregate principal amount of the Notes of such
              Series at the time outstanding; provided, however, that if such event
              of
              default with respect to such other Series of Notes or under such indenture
              or instrument, as the case may be, shall be timely remedied or cured
              by
              GEC Australia Funding or the Guarantor, or timely waived by the holders
              of
              such other Series of Notes or of such indebtedness, as the case may
              be,
              then the Event of Default hereunder by reason thereof shall be deemed
              likewise to have been thereupon remedied, cured or waived without further
              action upon the part of either the Fiscal and Paying Agent or any of
              the
              Noteholders of such Series; or 

    

     

    19

    
      	 	(vii)	in
              the case of Notes issued by GEC Canada Funding, an event of
              default with respect to any other Series of Notes issued or hereafter
              issued by GEC Canada Funding pursuant to this Agreement or as defined
              in
              any indenture or instrument evidencing or under which GEC Canada Funding
              has at the date of this Agreement or shall hereafter have outstanding
              any
              indebtedness for borrowed money in the aggregate principal amount of
              at
              least C$10,000,000 (or the equivalent thereof in one or more foreign
              or
              composite currencies) shall happen and be continuing and such other
              Series
              of Notes or such indebtedness, as the case may be, of GEC Canada Funding
              shall have been accelerated so that the same shall be or become due
              and
              payable prior to the date on which the same would otherwise have become
              due and payable, and such acceleration shall not be rescinded or annulled
              within ten calendar days after written notice thereof shall have been
              given to GEC Canada Funding, as the case may be, the Guarantor and
              the
              Fiscal and Paying Agent by the holders of at least twenty-five percent
              in
              aggregate principal amount of the Notes of such Series at the time
              outstanding; provided, however, that if such event of default with
              respect
              to such other Series of Notes or under such indenture or instrument,
              as
              the case may be, shall be timely remedied or cured by GEC Canada Funding
              or the Guarantor, or timely waived by the holders of such other Series
              of
              Notes or of such indebtedness, as the case may be, then the Event of
              Default hereunder by reason thereof shall be deemed likewise to have
              been
              thereupon remedied, cured or waived without further action upon the
              part
              of either the Fiscal and Paying Agent or any of the Noteholders of
              such
              Series; or 

    

     

    
      	 	(viii)	in
              the case of Notes issued by an Irish Issuer, an event of default
              with respect to any other Series of Notes issued or hereafter issued
              by
              such Irish Issuer pursuant to this Agreement or as defined in any
              indenture or instrument evidencing or under which such Irish Issuer
              has at
              the date of this Agreement or shall hereafter have outstanding any
              indebtedness for borrowed money in the aggregate principal amount of
              at
              least U.S.$10,000,000 (or the equivalent thereof in one or more foreign
              or
              composite currencies) shall happen and be continuing and such other
              Series
              of Notes or such indebtedness, as the case may be, of such Irish Issuer
              shall have been accelerated so that the same shall be or become due
              and
              payable prior to the date on which the same would otherwise have become
              due and payable, and such acceleration shall not be rescinded or annulled
              within ten calendar days after written notice thereof shall have been
              given to such Irish Issuer, as the case may be, the Guarantor and the
              Fiscal and Paying Agent by the holders of at least twenty-five percent
              in
              aggregate principal amount of the Notes of such Series at the time
              outstanding; provided, however, that if such event of default with
              respect
              to such other Series of Notes or under such indenture or instrument,
              as
              the case may be, shall be timely remedied or cured by such Irish Issuer
              or
              the Guarantor, or timely waived by the holders of such other Series
              of
              Notes or of such indebtedness, as the case may be, then the Event of
              Default hereunder by reason thereof shall be deemed likewise to have
              been
              thereupon remedied, cured or waived without further action upon the
              part
              of either the Fiscal and Paying Agent or any of the Noteholders of
              such
              Series; or 

    

     

    20

    
      	 	(ix)	a
              decree or order by a court having jurisdiction in the premises
              shall have been entered adjudging GE Capital bankrupt or insolvent,
              or
              approving as properly filed a petition seeking reorganization of GE
              Capital under the United States Federal Bankruptcy Code or any other
              similar applicable United States Federal or State law, and such decree
              and
              order shall have continued undischarged and unstayed for a period of
              60
              days; or a decree or order of a court having jurisdiction in the premises
              for the appointment of a receiver or liquidator or trustee or assignee
              (or
              other similar official) in bankruptcy or insolvency of GE Capital or
              of
              all or substantially all of its property, or for the winding up or
              liquidation of its affairs, shall have been entered, and such decree
              and
              order shall have continued undischarged and unstayed for a period of
              60
              days; or 

    

     

    
      	 	(x)	GE
              Capital shall institute proceedings to be adjudicated
              voluntarily bankrupt, or shall consent to the filing of a bankruptcy
              proceeding against it, or shall file a petition or answer or consent
              seeking reorganization under the United States Federal Bankruptcy Code
              or
              any other similar applicable United States Federal or State law, or
              shall
              consent to the filing of any such petition, or shall consent to the
              appointment of a receiver or liquidator or trustee or assignee (or
              other
              similar official) in bankruptcy or insolvency of it or of its property,
              or
              shall make an assignment for the benefit or creditors, or shall admit
              in
              writing its inability to pays its debts generally as they become due;
              or
              

    

     

    
      	 	(xi)	in
              the case of Notes issued by GEC Australia Funding, GEC Australia
              Funding shall be declared bankrupt, or a liquidator, a receiver, manager,
              receiver and manager, administrator or any other officer with similar
              powers shall be appointed with respect to GEC Australia Funding or
              all or
              substantially all of the property of GEC Australia Funding, and, in
              all
              such cases, continues both undischarged and unstayed for a period of
              90
              days; or 

    

     

    
      	 	(xii)	in
              the case of Notes issued by GEC Canada Funding, any of the
              following events shall occur: (A) an order shall be made or an
              effective resolution be passed for the winding-up or liquidation or
              dissolution of GEC Canada Funding by operation of law, except in the
              course of carrying out, or pursuant to, a reconstruction, reorganization,
              consolidation, merger, amalgamation, transfer, sale, conveyance, lease
              or
              other disposition contemplated in or permitted under this Agreement;
              (B) GEC Canada Funding shall make a general assignment for the
              benefit of its creditors or a proposal under applicable bankruptcy
              legislation, or if an effective resolution be passed by GEC Canada
              Funding
              to give effect to any of the foregoing; or (C) GEC Canada Funding
              shall be declared bankrupt, or if a custodian or sequestrator or a
              receiver and manager or any other officer with similar powers shall
              be
              appointed of GEC Canada Funding or of all or substantially all of the
              property of GEC Canada Funding, and, in all such cases, such continues
              both undischarged and unstayed for a period of 90 days; or
              

    

     

    
      	 	(xiii)	in
              the case of Notes issued by an Irish Issuer, such Irish Issuer
              shall be declared bankrupt, or a liquidator, a receiver, manager, receiver
              and manager, administrator, examiner or any other official with similar
              powers shall be appointed with respect to such Irish Issuer or all
              or
              substantially all of the property of such Irish Issuer, and, in all
              such
              cases, continues both undischarged and unstayed for a period of 90
              days;
              or 

    

     

    21

    
      	 	(xiv)	any
              other Event of Default provided in the applicable Corporate
              Order under which such Series of Notes is issued as contemplated by
              Section 2(c); or 

    

     

    
      	 	(xiii)	with
              respect to each Additional Issuer acceding hereto pursuant to
              Section 19 hereof, such Events of Default to the foregoing effect as
              are provided in the form of Notes certified to the Fiscal and Paying
              Agent
              in accordance with Section 2(b) hereof and any other Events of
              Default provided in the applicable Corporate Order under which a Series
              of
              Notes is issued by such Additional Issuer as contemplated by
              Section 2(c) hereof. 

    

    If
      an Event of Default with respect
      to Notes of any Series at the time outstanding occurs and is continuing, then
      and in each and every case, unless the principal of the Notes of such Series
      shall have already become due and payable, each Note of such Series shall,
      at
      the option of and upon written notice to the relevant Issuer, the Guarantor
      and
      the Fiscal and Paying Agent by the then holder thereof, mature and become due
      and payable upon the date that such written notice is received by such Issuer,
      the Guarantor and the Fiscal and Paying Agent at a price equal to 100% of the
      principal amount thereof (or, if such Note provides for an amount less than
      the
      principal amount thereof to be due and payable upon redemption or a declaration
      of acceleration of the maturity thereof pursuant to this Section (hereinafter
      an
      "Original Issue Discount Note"), such portion of the principal amount as may
      be
      specified in the terms of such Note), together with accrued interest to such
      date, upon presentation and surrender of such Note and all coupons appertaining
      thereto maturing after such date, unless prior to such date all Events of
      Default in respect of all such Notes of such Series shall have been cured.
      

    9.
Additional
      Payments; Tax
      Redemption. 

    (a)
U.S.
      Additional Amounts.
      The relevant Issuer or (in the case of Notes issued by an Issuer other than
      GE
      Capital) the Guarantor will, subject to certain exceptions and limitations
      set
      forth below, pay such additional amounts (the "U.S. Additional Amounts" and,
      together with the Australian Additional Amounts, the Canadian Additional
      Amounts, the Irish Additional Amounts and Other Additional Amounts (as such
      terms are hereinafter defined), the "Additional Amounts") to the holder of
      any
      Note of any Series or of any interest coupon appertaining thereto who is a
      United States Alien (as defined below) as may be necessary in order that every
      net payment of the principal of, premium and interest, including original issue
      discount, on such Note and any other amounts payable on such Note, after
      withholding for or on account of any present or future tax, assessment or other
      governmental charge imposed upon or as a result of such payment by the United
      States (or any political subdivision or taxing authority thereof or therein),
      will not be less than the amount provided for in such Note or coupon to be
      then
      due and payable. However, the relevant Issuer or the Guarantor, as the case
      may
      be, will not be required to make any payment of U.S. Additional Amounts to
      any
      such holder for or on account of: 

     

    
      	 	(i)	
              any
                such
                tax, assessment or other governmental charge which would not have
                been so
                imposed but for (1) the existence of any present or former connection
                between such holder (or between a fiduciary, settlor, beneficiary,
                member
                or shareholder of such holder, if such holder is an estate, a trust,
                a
                partnership or a corporation) and the United States, including, without
                limitation, such holder (or such fiduciary, settlor, beneficiary,
                member
                or shareholder) being or having been

            

    

     

    22

    
      	 	
              a citizen
                or
                resident thereof or being or having been engaged in a trade or business
                or
                present therein or having, or having had, a permanent establishment
                therein or (2) the presentation by the holder of any such Note or
                coupon for payment on a date more than 15 calendar days after the
                date on
                which such payment became due and payable or the date on which payment
                thereof is duly provided for, whichever occurs later;
                

            

    

     

    
      	 	(ii)	any
              estate, inheritance, gift, sales, transfer or personal property
              tax or any similar tax, assessment or governmental charge;
              

    

     

    
      	 	(iii)	any
              tax, assessment or other governmental charge imposed by reason
              of such holder's past or present status as a personal holding company
              or
              foreign personal holding company or controlled foreign corporation
              or
              passive foreign investment company with respect to the United States
              or as
              a corporation which accumulates earnings to avoid United States federal
              income tax or as a private foundation or other tax-exempt organization;
              

    

     

    
      	 	(iv)	any
              tax, assessment or other governmental charge which is payable
              otherwise than by withholding from payments on or in respect of any
              Note;
              

    

     

    
      	 	(v)	any
              tax, assessment or other governmental charge which would not
              have been imposed but for the failure to comply with certification,
              information or other reporting requirements concerning the nationality,
              residence or identity of the holder or beneficial owner of such Note,
              if
              such compliance is required by statute or by regulation of the United
              States or of any political subdivision or taxing authority thereof
              or
              therein as a precondition to relief or exemption from such tax, assessment
              or other governmental charge; 

    

     

    
      	 	(vi)	any
              tax, assessment or other governmental charge imposed by reason
              of such holder's past or present status as the actual or constructive
              owner of 10% or more of the total combined voting power of all classes
              of
              stock entitled to vote of the relevant Issuer or of the Guarantor or
              as a
              direct or indirect subsidiary of the relevant Issuer or of the Guarantor;
              

    

     

    
      	 	(vii)	any
              tax, assessment or other governmental charge required to be
              deducted or withheld by any Paying Agent from a payment on a Note or
              coupon, if such payment can be made without such deduction or withholding
              by any other Paying Agent; or 

    

     

    
      	 	(viii)	any
              combination of any of items (i), (ii), (iii), (iv), (v),
              (vi) and (vii); 

    

    nor
      shall U.S. Additional Amounts be
      paid with respect to any payment on any such Note to a United States Alien
      who
      is a fiduciary or partnership or other than the sole beneficial owner of such
      payment to the extent such payment would be required by the laws of the United
      States (or any political subdivision thereof) to be included in the income,
      for
      tax purposes, of a beneficiary or settlor with respect to such fiduciary or
      a
      member of such partnership or a beneficial owner who would not have been
      entitled to the U.S. Additional Amounts had such beneficiary, settlor, member
      or
      beneficial owner been the holder of such Note. 

     

    23

    The
      term ?United States Alien? means
      a beneficial owner of a Note that is not, for United States federal income
      tax
      purposes, (i) a citizen or resident of the United States, (ii) a
      corporation, partnership or other entity created or organized in or under the
      laws of the United States or any political subdivision thereof, (iii) an
      estate whose income is subject to United States federal income tax regardless
      of
      its source, or (iv) a trust if a court within the United States is able to
      exercise primary supervision over the administration of the trust and one or
      more United States persons have the authority to control all substantial
      decisions of the trust or if such trust has a valid election in effect under
      applicable U.S. Treasury regulations to be treated as a United States person.
      

    (b)
Australian
      Additional
      Amounts. All payments of principal and interest in respect of Notes issued
      by GEC Australia Funding and any coupons relating thereto will be made without
      withholding of or deduction for, or on account of, any present or future taxes,
      duties, assessments or governmental charges of whatever nature imposed or levied
      by or on behalf of the Commonwealth of Australia or any political subdivision
      thereof or any authority or agency therein or thereof having power to tax unless
      the withholding or deduction of such taxes, duties, assessments or charges
      is
      required by law or the application, administration or interpretation thereof.
      In
      that event, GEC Australia Funding or the Guarantor (if the Guarantor is required
      to make payments under the Guarantee) shall pay (subject to the right of
      redemption of GEC Australia Funding referred to above in Section 6 -
      ?Redemption; Sinking Funds; Repayment at the Option of the Holder?) such
      additional amounts (the ?Australian Additional Amounts?) as may be necessary
      in
      order that the net amounts received by the holders of such Notes or coupons
      after such withholding or deduction shall equal the respective amounts of
      principal and interest which otherwise would have been received by them in
      respect of the Notes or coupons, as the case may be, in the absence of such
      withholding or deduction, except that no Australian Additional Amounts shall
      be
      payable with respect to any Note or coupon presented for payment: 

    (i)
      by or on behalf of a holder who
      is subject to such taxes, duties, assessments or governmental charges by reason
      of his being resident or deemed to be resident in Australia or otherwise than
      merely by the holding or use or deemed holding or use outside Australia or
      ownership as a non-resident of Australia of such Notes or coupons; or

    (ii)
      by or on behalf of a holder who
      is a resident of Australia where no additional amount would have been required
      to be paid had a tax file number, Australian business number or other exemption
      details been quoted to GEC Australia Funding in respect of the relevant Note
      before the due date for payment in respect of the relevant Note (?resident?,
      ?tax file number? and ?Australian business number? having the same meaning
      for
      this purpose as they have in the Income Tax Assessment Act 1936 (the ?Australian
      Tax Act?), Income Tax Assessment Act 1997 and the Taxation Administrative Act
      1953 (each as amended) of Australia); or 

    (iii)
      by or on behalf of a holder
      who is subject to such taxes, duties, assessments or government charges which
      would not have been so imposed but for the presentation by the holder of any
      such Note or coupon for payment on a date more than 15 days after the date
      on
      which such payment became due and payable or the date on which payment thereof
      is duly provided for, whichever occurs later; or 

    (iv)
      if the holder of such Note or
      coupon or any entity which directly or indirectly has an interest in or right
      in
      respect of such Note or coupon is a ?resident of Australia? or a ?non-resident?
      who is engaged in carrying on business in Australia at or through a ?permanent
      

     

    24

    establishment"
      of that non-resident
      in Australia (the expressions ?resident of Australia?, ?non-resident" and
      ?permanent establishment? having the meanings given to them by the Australian
      Tax Act) if, and to the extent that, Section 126 of the Australian Tax Act
      (or any equivalent provision) requires GEC Australia Funding to pay income
      tax
      in respect of interest payable on such Note or coupon and the income tax would
      not be payable were the holder or such entity not such a ?resident of Australia"
      or ?non-resident"; or 

    (v)
      by or on behalf of a holder who
      is an associate of GEC Australia Funding within the meaning of Section 128F
      of the Australian Tax Act where interest withholding tax is payable in respect
      of that payment by reason of Section 128F(6) of that Act. 

    (c)
Canadian
      Additional
      Amounts. All payments of principal and interest in respect of Notes issued
      by GEC Canada Funding and any interest coupons appertaining thereto will be
      made
      without withholding of or deduction for, or on account of, any present or future
      taxes, duties, assessments or governmental charges of whatever nature imposed
      or
      levied by or on behalf of the Government of Canada or any province or territory
      or political subdivision thereof or any authority or agency therein or thereof
      having power to tax unless the withholding or deduction of such taxes, duties,
      assessments or charges is required by law or the application, administration
      or
      interpretation thereof. In the event that such withholding or deduction is
      so
      required, GEC Canada Funding (in the case of Notes issued by GEC Canada Funding)
      or the Guarantor (if the Guarantor is required to make payments under the
      Guarantee) shall pay (subject to the right of redemption of GEC Canada Funding
      referred to in paragraph (h) below such additional amounts (the ?Canadian
      Additional Amounts") as may be necessary in order that the net amounts received
      by the holders of Notes and coupons appertaining thereto after such withholding
      or deduction shall equal the respective amounts of principal and interest which
      otherwise would have been received by them in respect of such Notes or coupons,
      as the case may be, in the absence of such withholding or deduction, except
      that
      no Canadian Additional Amounts shall be payable with respect to any such Note
      or
      coupon presented for payment: 

    (i)
      by or on behalf of a holder who
      is subject to such taxes, duties, assessments or charges otherwise than merely
      by the holding or use or deemed holding or use outside Canada or ownership
      as a
      non-resident of Canada of such Note or coupon; or 

    (ii)
      by or on behalf of a holder in
      respect of whom such taxes, duties, assessments or charges are required to
      be
      withheld or deducted by reason of the holder being a person with whom GEC Canada
      Funding is not dealing at arm's length (within the meaning of the Income Tax
      Act
      (Canada)); or 

    (iii)
      more than 15 days after the
      Relevant Date (as defined below), except to the extent that the holder thereof
      would have been entitled to such Canadian Additional Amounts on presenting
      such
      Note or coupon for payment on the last day of such period of 15 days.

    The
      term ?Relevant Date" means the
      later of (i) the date on which payment in respect of the relevant Note or
      Coupon becomes due and payable; and (ii) if the full amount of the moneys
      payable on such date has not been received by the Fiscal and Paying Agent on
      or
      prior to such date, the date on which the full amount of such moneys having
      been
      so received, notice of such receipt is duly published in accordance with the
      terms set out under Section 20- ?Notices to Parties" below. 

     

    25

    (d)
Irish
      Additional Amounts.
      All payments of principal and interest in respect of Notes issued by an Irish
      Issuer will be made without withholding of or deduction for, or on account
      of,
      any present or future taxes, duties, assessments or governmental charges of
      whatever nature imposed or levied by or on behalf of the Government of Ireland
      or any authority or agency therein or thereof having power to tax unless the
      withholding or deduction of such taxes, duties, assessments or charges is
      required by law or the application, administration or interpretation thereof.
      In
      the event that such withholding or deduction is so required, the relevant Irish
      Issuer or the Guarantor (if the Guarantor is required to make payments under
      the
      Guarantee) shall pay (subject to the Issuer's right of redemption referred
      to
      above) such additional amounts (the ?Irish Additional Amounts") as may be
      necessary in order that the net amounts received by the holder of such Notes
      and
      coupons appertaining thereto after such withholding or deduction shall equal
      the
      respective amounts of principal and interest which otherwise would have been
      received in respect of such Notes or the coupons appertaining thereto, as the
      case may be, in the absence of such withholding or deduction, except that no
      Irish Additional Amounts shall be payable with respect to any such Note or
      a
      coupon appertaining thereto presented for payment: 

    (i)
      by or on behalf of a holder who
      is subject to such taxes, duties, assessments or charges otherwise than merely
      by the holding or use or deemed holding or use outside Ireland or ownership
      as a
      non-resident of Ireland of such Notes or coupon appertaining thereto;

    (ii)
      by or on behalf of a holder who
      is subject to such taxes, duties, assessments or charges or government charges
      which would not have been so imposed but for the presentation by the holder
      of
      any such Note or coupon for payment on a date more than 15 days after the date
      on which such payment became due and payable or the date on which payment
      thereof is duly provided for, whichever occurs later; or 

    (iii)
      by or on behalf of a holder
      who is subject to such taxes, duties, assessments or charges or government
      chargers which are deducted or withheld by an Irish paying agent, if the payment
      could have been made by another paying agent without such deduction or
      withholding. 

    There
      is also no obligation of an
      Irish Issuer or the Guarantor to pay such Irish Additional Amounts if such
      deduction or withholding taxes, duties or governmental charges could be
      prevented or reduced by the fulfillment of information or other obligations.
      

    (e)
European
      Union. The
      relevant Issuer or Guarantor, as the case may be, will not be required to make
      any payment of Additional Amounts to any such holder for or on the account
      of:

    (i)
      any tax, duty, assessment or
      other governmental charge required to be withheld by any Paying Agent from
      any
      payment of principal of, or interest on, any Note, if such payment can be made
      without such withholding by any other Paying Agent in a member state of the
      European Union; or 

    (ii)
      any tax, duty, assessment or
      other governmental charge required to be imposed or withheld on a payment to
      an
      individual and which is required to be made pursuant to any European Union
      Directive on the taxation of savings or any law implementing or complying with,
      or introduced in order to conform to, such Directive. 

     

    26

    (f)
Other
      Additional Amounts.
      In the case of Notes issued by an Additional Issuer acceding to this Agreement
      pursuant to Section 19 hereof, all payments of principal and interest in
      respect of Notes issued by such Issuer and any interest coupons appertaining
      thereto will be made without withholding of or deduction for, or on account
      of,
      any present or future taxes, duties, assessments or governmental charges of
      whatever nature imposed or levied by or on behalf of the jurisdiction of
      organization of such Issuer or any political subdivision thereof or any
      authority or agency therein or thereof having power to tax unless the
      withholding or deduction of such taxes, duties, assessments or charges is
      required by law or the application, administration or interpretation thereof.
      In
      the event that such withholding or deduction is so required, such Issuer or
      the
      Guarantor (if the Guarantor is required to make payments under the Guarantee)
      shall pay such additional amounts (the ?Other Additional Amounts") as may be
      necessary in order that the net amounts received by the holders of Notes and
      coupons appertaining thereto after such withholding or deduction shall equal
      the
      respective amounts of principal and interest which otherwise would have been
      received by them in respect of the Notes or coupons, as the case may be, in
      the
      absence of such withholding or deduction, except that no Other Additional
      Amounts shall be payable with respect to any Note or coupon as are provided
      in
      the form of Notes certified to the Fiscal and Paying Agent in accordance with
      Section 2(b) hereof or otherwise provided in such applicable Corporate
      Order under which a Series of Notes is issued by such Additional Issuer as
      contemplated by Section 2(c) hereof; provided, however, that the form of
      Notes certified to the Fiscal and Paying Agent in accordance with
      Section 2(b) hereof or the applicable Corporate Order under which a Series
      of Notes is issued by an Additional Issuer as contemplated by Section 2(c)
      hereof may amend, modify or replace these provisions, as necessary to conform
      such Issuer's obligation to pay additional amounts on such Notes to applicable
      laws, rules or regulations of the country of incorporation or organization
      of
      such Issuer or any political subdivision thereof or any authority or agency
      therein or thereof having power to tax, or to comply with any official position
      regarding the application or interpretation of such laws, rules or regulations,
      including any guidance from an official source. 

    (g)
Tax
      Redemption - General.
      All Notes of the same Series may be redeemed in whole but not in part, at the
      option of the relevant Issuer at any time prior to maturity, upon the giving
      of
      a notice of redemption, if the relevant Issuer or (in the case of Notes issued
      by an Issuer other than GE Capital) the Guarantor determines that, as a result
      of any change in or amendment to the laws (or any regulations or ruling
      promulgated thereunder) of the United States or of any political subdivision
      or
      taxing authority thereof or therein affecting taxation, or any change in
      official position regarding the application or interpretation of such laws,
      regulations or ruling, which change or amendment becomes effective on or after
      the date of issuance of the first Tranche of Notes of such Series (if sold
      on an
      agency basis) or the date on which an Agent acting as principal agreed to
      purchase such Tranche of Notes, the relevant Issuer or the Guarantor, as the
      case may be, has or will become obligated to pay U.S. Additional Amounts with
      respect to such Notes as described under Section 9(a) hereof. The
      redemption price (except as otherwise specified herein or in the applicable
      Final Terms or Securities Note (each as defined in the Distribution Agreement)
      (as the case may be)) shall be equal to 100% of the principal amount thereof,
      together with accrued interest to the date fixed for redemption, or in the
      case
      of Discount Notes, at 100% of the portion of the face amount thereof that has
      accreted on a straight-line basis to the date of redemption, or in the case
      of
      Notes issued at a premium, at 100% of the issue price less the amount of the
      premium amortized on a straight-line basis to the date of redemption. Prior
      to
      the giving of any notice of redemption pursuant to this paragraph, the relevant
      Issuer shall deliver to the Fiscal and Paying Agent, (i) a certificate
      stating that the relevant Issuer is entitled to effect such redemption and
      setting forth a statement of facts showing that the conditions precedent to
      the
      right of such Issuer to so redeem have occurred (the date on which such
      certificate is delivered to the Fiscal and Paying Agent is herein called the
      ?Redemption Determination Date"), and (ii) an opinion of counsel
      satisfactory to the Fiscal Agent to such effect based 

     

    27

    on
      such statement of facts; provided
      that no such notice of redemption shall be given earlier than 90 days prior
      to
      the earliest date on which the relevant Issuer or the Guarantor, as the case
      may
      be, would be obligated to pay such U.S. Additional Amounts if a payment in
      respect of such Notes were then due. 

    Notice
      of redemption will be given
      not less than 30 nor more than 60 days prior to the date fixed for redemption,
      which date and the applicable redemption price will be specified in the notice.
      

    If
      any date fixed for redemption is
      a date prior to the Exchange Date for a temporary global Bearer Note, payment
      on
      such redemption date will be made subject to receipt of a certificate
      substantially in the form set forth in (i) Exhibit B-1 provided by the
      holder of such Note or (ii) Exhibit B-2, delivery of which is a condition
      to payment of such Note. 

    (h)
Tax
      Redemption: Notes Issued
      by GEC Australia Funding. All Notes of the same Series issued by GEC
      Australia Funding may be redeemed, at the option of such GEC Australia Funding
      in whole but not in part, at any time prior to maturity, upon the giving of
      a
      notice of redemption as described under Section 9(g) hereof, if GEC
      Australia Funding or the Guarantor, as the case may be, determines that, as
      a
      result of any change in or amendment to the laws (or any regulations or rulings
      promulgated thereunder) of Australia or of any political subdivision or taxing
      authority thereof or therein affecting taxation, or any change in official
      position regarding the application or interpretation of such laws, regulations
      or rulings, including any change effected by guidance in any form from an
      official source, which change or amendment becomes effective on or after the
      date of issuance of the first Tranche of Notes of such Series (if sold on an
      agency basis) or the date on which an Agent acting as principal agrees to
      purchase such Tranche of Notes GEC Australia Funding or the Guarantor, as the
      case may be, has or will become obligated to pay Australian Additional Amounts
      with respect to the Notes as described under Section 9(b) hereof. The
      redemption price (except as otherwise specified herein or in the applicable
      Final Terms or Securities Note (as the case may be)) shall be equal to 100%
      of
      the principal amount thereof, together with accrued interest to the date fixed
      for redemption, or in the case of Discount Notes, at 100% of the portion of
      the
      face amount thereof that has accreted on a straight-line basis to the date
      of
      redemption, or in the case of Notes issued at a premium, at 100% of the issue
      price less the amount of the premium amortized on a straight-line basis to
      the
      date of redemption. Prior to the giving of any notice of redemption pursuant
      to
      this paragraph GEC Australia Funding or the Guarantor, as the case may be,
      shall
      deliver to the Fiscal Agent (i) a certificate stating that GEC Australia
      Funding is entitled to effect redemption and setting forth a statement of facts
      showing that the conditions precedent to the right of GEC Australia Funding
      to
      so redeem have occurred and (ii) an opinion of counsel satisfactory to the
      Fiscal Agent to such effect based on such statement of facts; provided that
      no
      such notice of redemption shall be given earlier than 90 days prior to the
      earliest date on which GEC Australia Funding or the Guarantor, as the case
      may
      be, would be obligated to pay such Australian Additional Amounts if a payment
      in
      respect of such Notes were then due. 

    (i)
Tax
      Redemption: Notes Issued
      by GEC Canada Funding. All Notes of the same Series issued by GEC Canada
      Funding may be redeemed, at the option of GEC Canada Funding (in the case of
      Notes issued by GEC Canada Funding) in whole but not in part, at any time prior
      to maturity, upon the giving of a notice of redemption as described under
      Section 9(g) hereof, if GEC Canada Funding or the Guarantor, as the case
      may be, determines that, as a result of any change in or amendment to the laws
      (or any regulations or rulings promulgated thereunder) of Canada or of any
      province or territory or political subdivision thereof or any authority or
      agency therein or thereof having power to tax, or any change in official
      position regarding the application or interpretation of such laws, regulations
      or rulings, including any change effected by guidance in any form from an
      official source, which change or amendment 

     

    28

    becomes
      effective on or after the
      date of issuance of the first Tranche of Notes of such Series (if sold on an
      agency basis) or the date on which an Agent acting as principal agreed to
      purchase such Tranche of Notes, GEC Canada Funding or the Guarantor, as the
      case
      may be, has or will become obligated to pay Canadian Additional Amounts with
      respect to the Notes as described under Section 9(c) hereof. The redemption
      price (except as otherwise specified herein or in the applicable Final Terms
      or
      Securities Note (as the case may be)) shall be equal to 100% of the principal
      amount thereof, together with accrued interest to the date fixed for redemption,
      or in the case of Discount Notes, at 100% of the portion of the face amount
      thereof that has accreted on a straight-line basis to the date of redemption,
      or
      in the case of Notes issued at a premium, at 100% of the issue price less the
      amount of the premium amortized on a straight-line basis to the date of
      redemption. Prior to the giving of any notice of redemption pursuant to this
      paragraph, GEC Canada Funding or the Guarantor, as the case may be, shall
      deliver to the Fiscal Agent (i) a certificate stating that GEC Canada
      Funding is entitled to effect such redemption and setting forth a statement
      of
      facts showing that the conditions precedent to the right of GEC Canada Funding,
      to so redeem have occurred and (ii) an opinion of counsel satisfactory to
      the Fiscal Agent to such effect based on such statement of facts; provided
      that
      no such notice of redemption shall be given earlier than 90 days prior to the
      earliest date on which GEC Canada Funding or the Guarantor, as the case may
      be,
      would be obligated to pay such Canadian Additional Amounts if a payment in
      respect of such Notes were then due. 

    (j)
Tax
      Redemption: Notes Issued
      by an Irish Issuer. All Notes of the same Series issued by an Irish Issuer
      may be redeemed, at the option of such Irish Issuer (in the case of Notes issued
      by such Irish Issuer) in whole but not in part, at any time prior to maturity,
      upon the giving of a notice of redemption as described under Section 9(g)
      hereof, if such Irish Issuer or the Guarantor, as the case may be, determines
      that, as a result of any change in or amendment to the laws (or any regulations
      or rulings promulgated thereunder) of Ireland or of any province or territory
      or
      political subdivision thereof or any authority or agency therein or thereof
      having power to tax, or any change in official position regarding the
      application or interpretation of such laws, regulations or rulings, including
      any change effected by guidance in any form from an official source, which
      change or amendment becomes effective on or after the date of issuance of the
      first Tranche of Notes of such Series (if sold on an agency basis) or the date
      on which an Agent acting as principal agreed to purchase such Tranche of Notes,
      such Irish Issuer or the Guarantor, as the case may be, has or will become
      obligated to pay Irish Additional Amounts with respect to the Notes as described
      under Section 9(d) hereof. The redemption price (except as otherwise
      specified herein or in the applicable Final Terms or Securities Note (as the
      case may be)) shall be equal to 100% of the principal amount thereof, together
      with accrued interest to the date fixed for redemption, or in the case of
      Discount Notes, at 100% of the portion of the face amount thereof that has
      accreted on a straight-line basis to the date of redemption, or in the case
      of
      Notes issued at a premium, at 100% of the issue price less the amount of the
      premium amortized on a straight-line basis to the date of redemption. Prior
      to
      the giving of any notice of redemption pursuant to this paragraph, the relevant
      Irish Issuer or the Guarantor, as the case may be, shall deliver to the Fiscal
      Agent (i) a certificate stating that such Irish Issuer is entitled to
      effect such redemption and setting forth a statement of facts showing that
      the
      conditions precedent to the right of such Irish Issuer, to so redeem have
      occurred and (ii) an opinion of counsel satisfactory to the Fiscal Agent to
      such effect based on such statement of facts; provided that no such notice
      of
      redemption shall be given earlier than 90 days prior to the earliest date on
      which such Irish Issuer or the Guarantor, as the case may be, would be obligated
      to pay such Irish Additional Amounts if a payment in respect of such Notes
      were
      then due. 

    (k)
Tax
      Redemption: Notes Issued
      by Additional Issuers. All Notes of the same Series issued by an Additional
      Issuer acceding to this Agreement pursuant to Section 19 hereof may be

     

    29

    redeemed,
      at the option of such
      Issuer, in whole but not in part, at any time prior to maturity, upon the giving
      of a notice of redemption as described under Section 9(g) hereof, if such
      Issuer or the Guarantor, as the case may be, determines that, as a result of
      any
      change in or amendment to the laws (or any regulations or rulings promulgated
      thereunder) of the jurisdiction of such Issuer's organization or of any
      political subdivision thereof or any authority or agency therein or thereof
      having power to tax, or any change in official position regarding the
      application or interpretation of such laws, regulations or rulings, including
      any change effected by guidance in any form from an official source, which
      change or amendment becomes effective on or after the date of issuance of the
      first Tranche of Notes of such Series (if sold on an agency basis) or the date
      on which an Agent acting as principal agreed to purchase such Tranche of Notes,
      such Issuer or the Guarantor, as the case may be, has or will become obligated
      to pay Other Additional Amounts with respect to the Notes as described under
      Section 9(f) hereof. The redemption price (except as otherwise specified
      herein or in the applicable Final Terms or Securities Note (as the case may
      be))
      shall be equal to 100% of the principal amount thereof, together with accrued
      interest to the date fixed for redemption, or in the case of Discount Notes,
      at
      100% of the portion of the face amount thereof that has accreted on a
      straight-line basis to the date of redemption, or in the case of Notes issued
      at
      a premium, at 100% of the issue price less the amount of the premium amortized
      on a straight-line basis to the date of redemption. Prior to the giving of
      any
      notice of redemption pursuant to this paragraph, such Issuer or the Guarantor,
      as the case may be, shall deliver to the Fiscal Agent (i) a certificate
      stating that such Issuer is entitled to effect such redemption and setting
      forth
      a statement of facts showing that the conditions precedent to the right of
      such
      Issuer to so redeem have occurred and (ii) an opinion of counsel
      satisfactory to the Fiscal Agent to such effect based on such statement of
      facts; provided that no such notice of redemption shall be given earlier than
      90
      days prior to the earliest date on which such Issuer or the Guarantor, as the
      case may be, would be obligated to pay such Other Additional Amounts if a
      payment in respect of such Notes were then due; provided, however, that the
      form
      of Notes certified to the Fiscal and Paying Agent in accordance with
      Section 2(b) hereof or the applicable Corporate Order under which a Series
      of Notes is issued by such Additional Issuer as contemplated by
      Section 2(c) hereof may amend, modify or replace these provisions, as
      necessary to conform such Issuer's right to redeem the Notes to applicable
      laws,
      rules or regulations of the country or organization of such Issuer or any
      political subdivisions thereof or any authority or agency therein or thereof
      having power to tax, or to comply with any official position regarding the
      application or interpretation of such laws, rules or regulations, including
      any
      guidance from an official source. 

    (l)
Special
      Tax Redemption of
      Bearer Notes. If the relevant Issuer or (in the case of Notes issued by an
      Issuer other than GE Capital) the Guarantor shall determine that any payment
      made outside the United States by such Issuer, the Guarantor (if the Guarantor
      is required to make payments under the relevant Guarantee) or any Paying Agent
      of principal or interest, including original discount, due in respect of any
      Bearer Notes of any Series would, under any present or future laws or
      regulations of the United States, be subject to any certification,
      identification or other information reporting requirement of any kind, the
      effect of which requirement is the disclosure to such Issuer, the Guarantor,
      any
      Paying Agent or any governmental authority of the nationality, residence or
      identity of a beneficial owner of such Bearer Note or coupon who is a United
      States Alien (other than such a requirement (a) which would not be
      applicable to a payment made by such Issuer, the Guarantor or any Paying Agent
      (i) directly to the beneficial owner or (ii) to a custodian, nominee
      or other agent of the beneficial owner, or (b) which can be satisfied by
      such custodian, nominee or other agent certifying to the effect that such
      beneficial owner is a United States Alien, provided that in each case referred
      to in clauses (a)(ii) and (b) payment by such custodian, nominee or agent
      to such beneficial owner is not otherwise subject to any such requirement),
      the
      relevant Issuer shall (in the case of Notes issued by an Issuer other than
      GEC
      Canada Funding) or may (in the case of Notes issued by GEC Canada Funding)
      redeem the Bearer Notes of such Series, in whole, 

     

    30

    or
      if the conditions of the next
      paragraph are satisfied, pay the additional amounts specified in such paragraph.
      The redemption price (except as otherwise specified herein or in the applicable
      Final Terms or Securities Note (as the case may be)) shall be equal to 100%
      of
      the principal amount thereof, together with accrued interest to the date fixed
      for redemption, or in the case of Discount Notes, at 100% of the portion of
      the
      face amount thereof that has accreted on a straight-line basis to the date
      of
      redemption, or in the case of Notes issued at a premium, at 100% of the issue
      price less the amount of the premium amortized on a straight-line basis to
      the
      date of redemption. The relevant Issuer or the Guarantor, as the case may be,
      shall make such determination and election as soon as practicable and publish
      prompt notice thereof (the ?Determination Notice") stating the effective date
      of
      such certification, identification or other information reporting requirements,
      whether such Issuer will redeem the Bearer Notes of such Series, or whether
      such
      Issuer or the Guarantor, as the case may be, has elected to pay the U.S.
      Additional Amounts specified in the next paragraph, and (if applicable) the
      last
      date by which the redemption of the Bearer Notes of such Series must take place,
      as provided in the next succeeding sentence. If the relevant Issuer redeems
      the
      Bearer Notes of such Series, such redemption shall take place on such date,
      not
      later than one year after the publication of the Determination Notice, as the
      relevant Issuer or the Guarantor, as the case may be, shall elect by notice
      to
      the Fiscal and Paying Agent at least 60 days prior to the date fixed for
      redemption. Notice of such redemption of the Bearer Notes of such Series will
      be
      given to the holders of such Bearer Notes not more than 60 nor less than 30
      days
      prior to the date fixed for redemption. Such redemption notice shall include
      a
      statement as to the last date by which the Bearer Notes of such Series to be
      redeemed may be exchanged for Registered Notes. Notwithstanding the foregoing,
      the relevant Issuer shall not so redeem such Bearer Notes if such Issuer or
      the
      Guarantor shall subsequently determine, not less than 30 days prior to the
      date
      fixed for redemption, that subsequent payments would not be subject to any
      such
      requirement, in which case such Issuer or the Guarantor shall publish prompt
      notice of such determination and any earlier redemption notice shall be revoked
      and of no further effect. The right of the holders of Bearer Notes called for
      redemption pursuant to this paragraph to exchange such Bearer Notes for
      Registered Notes will terminate at the close of business of the Principal Paying
      Agent on the fifteenth day prior to the date fixed for redemption, and no
      further exchanges of such Series of Bearer Notes for Registered Notes shall
      be
      permitted. 

    If
      and so long as the certification,
      identification or other information reporting requirements referred to above
      in
      the preceding paragraph would be fully satisfied by payment of a backup
      withholding tax or similar charge, the relevant Issuer or the Guarantor, as
      the
      case may be, may elect to pay as U.S. Additional Amounts such amounts as may
      be
      necessary so that every net payment made outside the United States following
      the
      effective date of such requirements by such Issuer, the Guarantor or any Paying
      Agent of principal or interest, including original issue discount, due in
      respect of any Bearer Note or any coupon of which the beneficial owner is a
      United States Alien (but without any requirement that the nationality residence
      of identity of such beneficial owner be disclosed to such Issuer, the Guarantor,
      any Paying Agent or any governmental authority, with respect to the payment
      of
      such additional amounts), after deduction or withholding for or on account
      of
      such backup withholding tax or similar charge (other than a backup withholding
      tax or similar charge which (i) would not be applicable in the
      circumstances referred to in the third parenthetical clause of the first
      sentence of the preceding paragraph, or (ii) is imposed as a result of
      presentation of such Bearer Note or coupon for payment more than 15 days after
      the date on which such payment becomes due and payable or on which payment
      thereof is duly provided for, whichever occurs later), will not be less than
      the
      amount provided for in such Bearer Note or coupon to be then due and payable.
      In
      the event the relevant Issuer or the Guarantor, as the case may be, elects
      to
      pay any U.S. Additional Amounts pursuant to this paragraph, such Issuer shall
      have the right to redeem the Bearer Notes of such Series in whole at any time
      pursuant to the applicable provisions of the preceding paragraph and the
      redemption price of such Bearer Notes shall not be reduced for 

     

    31

    applicable
      withholding taxes. If
      such Issuer or the Guarantor, as the case may be, elects to pay U.S. Additional
      Amounts pursuant to this paragraph and the condition specified in the first
      sentence of this paragraph should no longer be satisfied, then such Issuer
      shall
      (in the case of Notes issued by an Issuer other than GEC Canada Funding) or
      may
      (in the case of Notes issued by GEC Canada Funding) redeem the Bearer Notes
      of
      such Series in whole, pursuant to the applicable provisions of the preceding
      paragraph. 

    10.
Covenant
      of the Issuers and
      the Guarantor. 

    (a)
      Each Issuer and (in the case of
      Notes issued by an Issuer other than GE Capital) the Guarantor covenant and
      agree for the benefit of holders of all Notes issued hereunder that they will
      duly and punctually pay or cause to be paid the principal of, premium, if any,
      and interest, if any, on all such Notes (together with any Additional Amounts)
      at the places, at the respective times and in the manner provided in such Notes,
      in the coupons, if any appertaining thereto, and in this Agreement. The interest
      on Notes issued with coupons (together with any Additional Amounts) shall be
      payable only upon presentation and surrender of the several coupons for such
      interest installments as are evidenced thereby as they severally mature. If
      any
      temporary Bearer Note provides that interest thereon may be paid while such
      Note
      is in temporary form, the interest on any such temporary Bearer Note (together
      with any Additional Amounts) shall be paid, as to the installments of interest
      only, (i) in the case of a CGN, upon presentation and surrender thereof,
      and, as to the other installments of interest, if any, only upon presentation
      of
      such Notes for notation thereon of the payment of such interest, or (ii) in
      the case of any temporary global Note which is a NGN, upon the Fiscal and Paying
      Agent instructing Euroclear and Clearstream, Luxembourg to make appropriate
      entries in their records to reflect such payments, in each case subject to
      the
      restrictions set forth in Section 5. 

    11.
Obligations
      of the Fiscal and
      Paying Agent. The Fiscal and Paying Agent accepts its obligations set forth
      herein and in the Notes upon the terms and conditions hereof and thereof,
      including the following, to all of which each Issuer and (in the case of Notes
      issued by an Issuer other than GE Capital) the Guarantor agree and to all of
      which the rights of the holders from time to time of the Notes of each Series
      shall be subject: 

    (a)
      The Fiscal and Paying Agent
      shall be entitled to the compensation to be agreed upon with the relevant Issuer
      and the Guarantor for all services rendered by it, and such Issuer and the
      Guarantor agree promptly to pay such compensation and to reimburse the Fiscal
      and Paying Agent for its reasonable out-of-pocket expenses (including fees
      and
      expenses of counsel) incurred by it in connection with the services rendered
      by
      it hereunder. The relevant Issuer and the Guarantor also agree to indemnify
      the
      Fiscal and Paying Agent and each paying agent of such Issuer and the Guarantor
      for, and to hold each of them harmless against, any loss, liability or expense
      incurred without negligence or bad faith on their part arising out of or in
      connection with their acting as Fiscal and Paying Agent or paying agent of
      such
      Issuer and the Guarantor hereunder. The obligations of such Issuer and the
      Guarantor under this subsection (a) shall survive the payment of the Notes
      and the resignation or removal of the Fiscal and Paying Agent and each paying
      agent of such Issuer and the Guarantor, as the case may be. 

    (b)
      In acting under this Agreement
      and in connection with the Notes, the Fiscal and Paying Agent and each paying
      agent of the relevant Issuer and the Guarantor are acting solely as agents
      of
      such Issuer and the Guarantor and do not assume any obligation towards or
      relationship of agency or trust for or with any of the beneficial owners or
      holders of the Notes except that all funds held by the Fiscal and Paying Agent
      or any other paying agent of such Issuer and the Guarantor for the payment
      of
      principal, of 

     

    32

    premium
      and of interest on (and
      Additional Amounts, if any, with respect to) the Notes shall be held in trust
      by
      them and applied as set forth herein and in the Notes, but need not be
      segregated from other funds held by them, except as required by law; provided
      that moneys paid by the relevant Issuer or the Guarantor to the Fiscal and
      Paying Agent or any other paying agent of such Issuer or the Guarantor for
      the
      payment of the principal of, premium and interest on (and Additional Amounts,
      if
      any, with respect to) any of the Notes and remaining unclaimed at the end of
      three years after the date on which such principal, premium or interest (or
      Additional Amounts, if any) shall have become due and payable shall be repaid
      to
      the relevant Issuer or the Guarantor, as the case may be, as provided and in
      the
      manner set forth in Section 5, whereupon the aforesaid trust shall
      terminate and all liability of the Fiscal and Paying Agent or any other paying
      agent of the relevant Issuer and the Guarantor to such Issuer and the Guarantor
      with respect to such moneys shall cease. 

    (c)
      The Fiscal and Paying Agent may
      consult with counsel and any advice or written opinion of such counsel shall
      be
      full and complete authorization and protection in respect of any action taken,
      suffered or omitted to be taken by it hereunder in good faith and in accordance
      with such advice or opinion. 

    (d)
      The Fiscal and Paying Agent and
      each paying agent of the relevant Issuer and the Guarantor shall be protected
      and shall incur no liability for or in respect of any action taken or omitted
      to
      be taken or thing suffered by them in reliance upon any Note, coupon, notice,
      direction, consent, certificate, affidavit, statement or other paper or document
      reasonably believed by them to be genuine and to have been presented or signed
      by the proper party or parties. 

    (e)
      The Fiscal and Paying Agent or
      any paying agent of the relevant Issuer or the Guarantor may, in its individual
      capacity or any other capacity, become the owner of, or acquire any interest
      in,
      any Notes or other obligations of such Issuer or the Guarantor with the same
      rights that it would have if it were not the Fiscal and Paying Agent or such
      paying agent of such Issuer or the Guarantor, and may engage or be interested
      in
      any financial or other transaction with such Issuer or the Guarantor and may
      act
      on, or as depositary, trustee or agent for, any committee or body of beneficial
      owners or holders of Notes or other obligations of such Issuer or the Guarantor
      as freely as if it were not the Fiscal and Paying Agent or such paying agent
      of
      such Issuer or the Guarantor. 

    (f)
      Neither the Fiscal and Paying
      Agent nor any other paying agent of the relevant Issuer or the Guarantor shall
      be under any liability for interest on any moneys received by it pursuant to
      any
      of the provisions of this Agreement or the Notes. 

    (g)
      The recitals contained herein
      and in the Notes (except in the Fiscal and Paying Agent's certificate of
      authentication) shall be taken as the statements of the relevant Issuer and
      the
      Guarantor, and the Fiscal and Paying Agent assumes no responsibility for the
      correctness of the same. The Fiscal and Paying Agent does not make any
      representation as to the validity or sufficiency of this Agreement or the Notes.
      Neither the Fiscal and Paying Agent nor any paying agent of the relevant Issuer
      and the Guarantor shall be accountable for the use or application by such Issuer
      of any of the Notes or the proceeds thereof. 

    (h)
      The Fiscal and Paying Agent and
      each paying agent of the relevant Issuer and the Guarantor shall be obligated
      to
      perform such duties and only such duties as are herein and in the Notes
      specifically set forth (including Appendix 1 (New Global Note Provisions)
      in the case of the Fiscal and Paying Agent), and no implied duties or
      obligations shall be read into this Agreement or the Notes against the Fiscal
      and Paying Agent or any such paying agent. Each paying agent of the relevant
      Issuer (other 

     

    33

    than
      the Fiscal and Paying Agent)
      agrees that if any information that is required by the paying agent to perform
      the duties set out in Appendix 1 (New Global Note Provisions) becomes
      known to it, it will promptly provide such information to the Fiscal and Paying
      Agent. The Fiscal and Paying Agent shall not be under any obligation to take
      any
      action hereunder which may tend to involve it in any expense or liability,
      the
      payment of which within a reasonable time is not, in its reasonable opinion,
      assured to it. 

    (i)
      Unless otherwise specifically
      provided herein or in the Notes, any order, certificate, notice, request,
      direction or other communication from the relevant Issuer or the Guarantor
      made
      or given under any provision of this Agreement shall be sufficient if signed
      by
      the President, the Chief Executive Officer, any Senior Vice President or Vice
      President, the Secretary or any Assistant Secretary or any duly authorized
      attorney-in-fact of the relevant Issuer or the Guarantor, as the case may be.
      

    (j)
      The Fiscal and Paying Agent and
      each paying agent of the relevant Issuer and the Guarantor shall be obligated
      to
      collect IRS Form W-8BEN or other applicable form required by the United States
      Internal Revenue code of 1986, as amended. 

    12.
Maintenance
      and Resignation
      of Fiscal and Paying Agent.

    (a)
      The relevant Issuer and (in the
      case of Notes issued by an Issuer other than GE Capital) the Guarantor agree,
      for the benefit of the beneficial owners from time to time of the Notes, that,
      until all of the Notes and coupons are no longer outstanding or until moneys
      for
      the payment of all of the principal of, premium and interest on all outstanding
      Notes (and Additional Amounts, if any) shall have been made available at the
      principal office of the Fiscal and Paying Agent, and shall have been returned
      to
      the relevant Issuer or (in the case of Notes issued by an Issuer other than
      GE
      Capital) the Guarantor as provided in Section 11(b), whichever occurs
      earlier, there shall at all times be a Fiscal and Paying Agent hereunder. The
      Fiscal and Paying Agent shall at all times maintain a place of business in,
      or
      in lieu thereof maintain an agent for service of process located in, London,
      England. 

    (b)
      Each Issuer and the Guarantor
      further agrees that (i) so long as any Notes are listed and/or admitted to
      trading on or by a stock exchange, competent authority and/or market, there
      will
      at all times be a Paying Agent (or the Fiscal and Paying Agent) having a
      specified office in each location required by the relevant rules of such stock
      exchange, competent authority and/or market; (ii) there will at all times
      be a Paying Agent (or the Fiscal and Paying Agent) with a specified office
      in a
      city in a member state of the European Union; and (iii) they will ensure
      that to the extent practicable it maintains a Paying Agent (or the Fiscal and
      Paying Agent) in a Member State of the European Union that will not be obliged
      to withhold or deduct tax from payment in respect of the Notes pursuant to
      European Council Directive 2003/48/EC or any law implementing or complying
      with,
      or introduced in order to conform to, such Directive. 

    (c)
      The Fiscal and Paying Agent may
      at any time resign by giving written notice of its resignation mailed to the
      relevant Issuer and the Guarantor specifying the date on which its resignation
      shall become effective; provided that such date shall be at least 90 days after
      the date on which such notice is given unless such Issuer and the Guarantor
      agree to accept less notice. Upon receiving such notice of resignation, the
      relevant Issuer and the Guarantor shall promptly appoint a successor fiscal
      and
      paying agent, qualified as aforesaid, by written instrument in duplicate signed
      on behalf of such Issuer and the Guarantor, one copy of which shall be delivered
      to the resigning Fiscal and Paying Agent and one copy to the successor fiscal
      and paying agent. Such resignation shall become effective upon the earlier
      of
      (i) the effective date of such resignation or (ii) the acceptance of
      appointment by the successor fiscal and 

     

    34

    paying
      agent as provided in
      subsection (c). The relevant Issuer and the Guarantor may, at any time and
      for
      any reason, and shall, upon any event set forth in the next succeeding sentence,
      remove the Fiscal and Paying Agent and appoint a successor fiscal and paying
      agent, qualified as aforesaid, by written instrument in duplicate signed on
      behalf of such Issuer and the Guarantor, one copy of which shall be delivered
      to
      the Fiscal and Paying Agent being removed and one copy to the successor fiscal
      and paying agent. The Fiscal and Paying Agent shall be removed as aforesaid
      if
      it shall become incapable of acting, or shall be adjudged bankrupt or insolvent,
      or a receiver of the Fiscal and Paying Agent or of its property shall be
      appointed, or any public officer shall take charge or control of it or of its
      property or affairs for the purpose of rehabilitation, conservation or
      liquidation. Any removal of the Fiscal and Paying Agent and any appointment
      of a
      successor fiscal and paying agent shall become effective upon acceptance of
      appointment by the successor fiscal and paying agent as provided in subsection
      (c). Upon its resignation or removal, the Fiscal and Paying Agent shall be
      entitled to the payment by the relevant Issuer or the Guarantor of its
      compensation for the services rendered hereunder and to the reimbursement of
      all
      reasonable out-of-pocket expenses incurred in connection with the services
      rendered by it hereunder (including any resignation expenses of the Fiscal
      and
      Paying Agent and fees and expenses of counsel). 

    (d)
      Any successor fiscal and paying
      agent appointed as provided in subsection (b) shall execute and deliver to
      its predecessor and to the relevant Issuer and the Guarantor an instrument
      accepting such appointment hereunder, and thereupon such successor fiscal and
      paying agent, without any further act, deed or conveyance, shall become vested
      with all the rights, powers, duties and obligations of its predecessor
      hereunder, with like effect as if originally named as Fiscal and Paying Agent
      hereunder, and such predecessor, upon payment of its compensation and
      out-of-pocket expenses then unpaid, shall pay over to such successor agent
      all
      moneys or other property at the time held by it hereunder. 

    (e)
      Any corporation or bank into
      which the Fiscal and Paying Agent may be merged or converted, or with which
      the
      Fiscal and Paying Agent may be consolidated, or any corporation or bank
      resulting from any merger, conversion, banking business transfer or
      consolidation to which the Fiscal and Paying Agent shall be a party, or any
      corporation or bank succeeding to the fiscal agency business of the Fiscal
      and
      Paying Agent shall be the successor to the Fiscal and Paying Agent hereunder
      (provided that such corporation or bank shall be qualified as aforesaid) without
      the execution or filing of any paper or any further act on the part of any
      of
      the parties hereto. 

    13.
Paying
      Agency. Each
      Issuer and the Guarantor shall cause each Paying Agent appointed by such Issuer
      and the Guarantor to execute and deliver to the Fiscal and Paying Agent an
      instrument in which such agent shall agree with the Fiscal and Paying Agent,
      subject to the provisions of this Section, 

    (1)
      that it will hold all sums held
      by it as such agent for the payment of the principal of, premium, if any, or
      interest, if any, on such Notes (whether such sums have been paid to it by
      the
      Issuer or the Guarantor or by any other obligor on such Notes) in trust for
      the
      benefit of the holders of such Notes, or the coupons appertaining thereto,
      if
      any; 

    (2)
      that it will give the Fiscal and
      Paying Agent notice of any failure by any such Issuer or the Guarantor (or
      by
      any other obligor on such Notes) to make any payment of the principal of,
      premium, if any, or interest, if any, on such Notes when the same shall be
      due
      and payable; and 

    (3)
      that at any time during the
      continuance of any failure by any such Issuer or the Guarantor (or by any other
      obligor on such Notes) specified in the preceding paragraph (2), such paying
      agent will, upon the written request of the Fiscal and Paying Agent, forthwith
      pay to the Fiscal and Paying Agent all sums so held in trust by it.

     

    35

    The
      Fiscal and Paying Agent shall
      arrange with all such paying agencies for the payment, from funds furnished
      by
      each Issuer and the Guarantor to the Fiscal and Paying Agent pursuant to this
      Agreement, of the principal of, premium and interest on the Notes (and
      Additional Amounts, if any, with respect to the Notes). 

    14.
Merger,
      Consolidation, Sale
      or Conveyance. 

    (a)
      Each Issuer and (in the case of
      Notes issued by an Issuer other than GE Capital) the Guarantor covenant that
      they will not merge or consolidate with any other corporation or sell, convey,
      transfer or otherwise dispose of all or substantially all of their respective
      assets to any corporation, unless (i) either such Issuer or the Guarantor,
      as the case may be, shall be the continuing corporation, or the successor
      corporation (if other than such Issuer or the Guarantor) shall be (a) with
      respect to GE Capital, a corporation organized and existing under the laws
      of
      the United States of America or a state thereof, (b) with respect to GEC
      Australia Funding, a corporation incorporated under the laws of Australia or
      any
      political subdivision thereof, (c) with respect to GEC Canada Funding, a
      corporation incorporated under the laws of Canada or any province of territory
      thereof, (d) with respect to any Irish Issuer, a company incorporated under
      the Companies Acts of Ireland, 1963-2003 and (e) with respect to each
      Additional Issuer, a corporation incorporated under the laws of the country
      of
      incorporation or organization of such Issuer, and in each case such successor
      corporation shall expressly assume the due and punctual payment of the principal
      of, and premium, if any, and interest, if any, on all the Notes and coupons,
      if
      any, according to their tenor, and the due and punctual performance and
      observance of all of the covenants and conditions of this Agreement, the Notes
      and the Guarantee to be performed by such Issuer or the Guarantor, as the case
      may be, executed and delivered to the Fiscal and Paying Agent by such
      corporation, and (ii) such Issuer or the Guarantor or such successor
      corporation, as the case may be, shall not, immediately after such merger or
      consolidation, or such sale, conveyance, transfer or other disposition, be
      in
      default in the performance of any such covenants or conditions. 

    (b)
      In case of any such
      consolidation, merger, sale, conveyance (other than by way of lease), transfer
      or other disposition, and upon any such assumption by the successor corporation,
      such successor corporation shall succeed to and be substituted for the relevant
      Issuer or the Guarantor, as the case may be, with the same effect as if it
      had
      been named herein as such Issuer or the Guarantor, and such Issuer or the
      Guarantor shall be relieved of any further obligation under this Agreement
      and
      under the Notes and coupons, if any, and may be dissolved, wound up and
      liquidated at any time thereafter. Such successor corporation thereupon may
      cause to be signed, and may issue either in its own name or in the name of
      the
      relevant Issuer or the Guarantor, as the case may be, any or all of the Notes
      issuable hereunder together with any coupons appertaining thereto which
      theretofore shall not have been signed by such Issuer or the Guarantor and
      delivered to the Fiscal and Paying Agent; and, upon the order of such successor
      corporation, instead of such Issuer or the Guarantor and subject to all the
      terms, conditions and limitations in this Agreement prescribed, the Fiscal
      and
      Paying Agent shall authenticate and shall deliver any Notes together with any
      coupons appertaining thereto which previously shall have been signed and
      delivered to the Fiscal and Paying Agent for that purpose. All Notes
      appertaining thereto shall in all respects have the same legal rank and benefit
      under this Agreement as the Notes theretofore or thereafter issued in accordance
      with the terms of this Agreement as though all or such Notes had been issued
      at
      the date of the execution hereof. 

     

    36

    In
      case of any such consolidation,
      merger, sale, conveyance, transfer or other disposition, such changes in
      phraseology and form (but not in substance) may be made in the Notes and coupons
      thereafter to be issued as may be appropriate. 

    15.
Meetings
      of Holders of the
      Notes. 

    (a)
      Each Issuer or (in the case of
      Notes issued by an Issuer other than GE Capital) the Guarantor may at any time
      call a meeting of the holders of the Notes of any or all Series, such meeting
      to
      be held at such time and at such place as such Issuer or the Guarantor shall
      determine, for the purpose of obtaining a waiver of or an amendment to any
      provision of this Agreement or the Notes of any Series (to the extent permitted
      in Section 18 hereof). For purposes of this Section, ?holders of a global
      Bearer Note" shall be those persons shown on the records of Euroclear,
      Clearstream, Luxembourg, or another clearance system in which such Notes are
      held, as the case may be, as having interests in such global Bearer Note
      credited to their respective securities clearance accounts on the date on which
      notice of the meeting is given. Notice of any meeting of Noteholders, setting
      forth the time and place of such meeting and in general terms the action
      proposed to be taken at such meeting, shall be (i) if any Bearer Notes of a
      Series affected are then outstanding, published prior to the date fixed for
      the
      meeting at least once a week for three successive weeks in one leading English
      language daily newspaper with general circulation in London, England, or, if
      publication in London is not practical, elsewhere in Western Europe and
      (ii) if any Registered Notes of a Series affected are then outstanding,
      mailed to the holders of then outstanding Registered Notes of each Series
      affected at their addresses as they shall appear on the books of the Registrar.
      The first publication or mailing of notice, in the case of Registered Notes,
      shall be made not less than 20 nor more than 180 days prior to the date fixed
      for such meeting. Such publication is expected to be made in the Financial
      Times. Notice of any meeting of holders of Bearer Notes that have been listed
      and/or admitted to trading on any stock exchange, competent authority and/or
      market shall be published in accordance with the applicable rules and
      regulations promulgated by such exchange, competent authority and/or market.
      To
      be entitled to vote at any meeting of holders of Notes a person shall be
      (i) a holder of one of more Notes of the relevant Series with respect to
      which such meeting is being held or (ii) a person appointed by an
      instrument in writing as proxy by the holder of one or more such Notes. The
      only
      persons who shall be entitled to be present or to speak at any meeting of the
      holders of the Notes of any Series shall be the persons entitled to vote at
      such
      meeting and their counsel and any representatives of the relevant Issuer, the
      Guarantor and their counsel. 

    (b)
      The persons entitled to vote a
      majority in principal amount of the Notes of the relevant Series at the time
      outstanding shall constitute a quorum for the purpose of obtaining any such
      waiver or amendment. No business shall be transacted in the absence of a quorum,
      unless a quorum is present when the meeting is called to order. In the absence
      of a quorum within 30 minutes of the time appointed for any such meeting, the
      meeting shall be adjourned for a period of not less than 10 calendar days as
      determined by the chairman of the meeting. In the absence of a quorum within
      30
      minutes of the time appointed for any such adjourned meeting, such adjourned
      meeting shall be further adjourned for a period of not less than 10 calendar
      days as determined by the chairman of the meeting. Notice of the reconvening
      of
      any adjourned meeting shall be given as provided above except that such notice
      need be published only once, but must be mailed or published not less than
      five
      days prior to the date on which the meeting is scheduled to be reconvened.
      Subject to the foregoing, at the reconvening of any meeting further adjourned
      for lack of a quorum, the persons entitled to vote 25% in principal amount
      of
      the Notes of the relevant Series at the time outstanding shall constitute a
      quorum for the taking of any action set forth in the notice of the original
      meeting. Notice of the reconvening of an adjourned meeting shall state expressly
      the percentage of the aggregate principal amount of the outstanding Notes of
      the
      relevant Series which shall constitute a quorum. 

     

    37

    (c)
      At a meeting or an adjourned
      meeting duly reconvened and at which a quorum is present as aforesaid, any
      resolution with respect to such waiver or amendment shall be effectively passed
      and decided if passed and decided by the favorable vote of persons entitled
      to
      vote the lesser of (i) a majority in the principal amount of the Notes of
      the relevant Series then outstanding or (ii) 75% in principal amount of
      such Notes represented and voting at the meeting. Any Noteholder who has
      executed an instrument in writing appointing a person as proxy shall be deemed
      to be present for the purposes of determining a quorum and be deemed to have
      voted; provided that such Noteholder shall be considered as present and voting
      only with respect to the matters covered by such instrument in writing (which
      may include authorization to vote on any other matters as may come before the
      meeting). Any resolution passed or decision taken at any meeting of Noteholders
      duly held in accordance with this Section shall be conclusive and binding on
      all
      the Noteholders of the relevant Series whether or not present or represented
      at
      the meeting. 

    (d)
      The holding of definitive Bearer
      Notes of the relevant Series for purposes of this Section shall be proved by
      the
      production of such Notes or by a certificate executed by any trust company,
      bank, banker or recognized securities dealer satisfactory to the relevant Issuer
      and the Guarantor, wherever situated, if such certificate shall be deemed by
      such Issuer and the Guarantor to be satisfactory. Each such certificate shall
      be
      dated and shall state that on the date thereof a Note of the relevant Series
      bearing a specified identifying number was deposited with or exhibited to such
      trust company, bank, banker or recognized securities dealer by the person named
      in such certificate. Any such certificate may be issued in respect of one or
      more such Bearer Notes specified therein. The holding of an interest in any
      global Bearer Note of the relevant Series shall be proved by a certificate
      of
      Euroclear, Clearstream, Luxembourg or another clearance system in which such
      Notes are held, as the case may be. The holding by the person named in any
      such
      certificate of any such Bearer Note or interest in a global Bearer Note
      specified therein shall be presumed to continue for a period of one year from
      the date of such certificate unless at the time of any determination of such
      holding (i) another certificate bearing a later date issued in respect of
      the same Bearer Note or interest in a global Bearer Note shall be produced,
      (ii) such Bearer Note specified in such certificate shall be produced by
      some other person or (iii) such Bearer Note specified in such certificate
      shall have ceased to be outstanding. The appointment of any proxy shall be
      proved by having the signature of the person executing the proxy witnessed
      or
      guaranteed by any bank, banker, trust company or New York Stock Exchange member
      firm satisfactory to the relevant Issuer and the Guarantor. 

    (e)
      Each Issuer and the Guarantor
      shall appoint a temporary chairman of the meeting. A permanent chairman and
      a
      permanent secretary of the meeting shall be elected by vote of the holders
      of a
      majority in principal amount of the Notes of the relevant Series represented
      at
      the meeting. At any meeting each Noteholder of the relevant Series or proxy
      shall be entitled to one vote for each $1,000 (or the equivalent thereof in
      any
      foreign or composite currency) of principal amount (in the case of Original
      Issue Discount Notes of the relevant Series, such principal amount thereof
      that
      would be due and payable as of the date of such meeting upon a declaration
      of
      acceleration of the maturity thereof pursuant to Section 8) of such Notes
      held or represented by such Noteholder or proxy; provided, however, that no
      vote
      shall be cast or counted at any meeting in respect of any Note of the relevant
      Series challenged as not outstanding and ruled by the chairman of the meeting
      to
      be not outstanding. The chairman of the meeting shall have no right to vote
      except as a Noteholder or proxy. Any meeting of Noteholders duly called at
      which
      a quorum is present may be adjourned from time to time, and the meeting may
      be
      held as so adjourned without further notice. 

     

    38

    (f)
      The vote upon any resolution
      submitted to any meeting of Noteholders shall be by written ballot on which
      shall be subscribed the signatures of such Noteholders or proxies and on which
      shall be inscribed the principal amount (in the case of Original Issue Discount
      Notes of the relevant Series, such principal amount thereof that would be due
      and payable as of the date of such vote upon a declaration of acceleration
      of
      the maturity thereof pursuant to Section 8) and the identifying number or
      numbers of the Notes of such Series held or represented by them. The permanent
      chairman of the meeting shall appoint two inspectors of votes who shall count
      all votes cast at the meeting for or against any resolution and who shall make
      and file with the secretary of the meeting their verified written reports in
      duplicate of all votes cast at the meeting. A record in duplicate of the
      proceedings of each meeting of Noteholders shall be prepared by the secretary
      of
      the meeting and there shall be attached to said record the original reports
      of
      the inspectors of votes on any vote by ballot taken thereat and affidavits
      by
      one or more persons having knowledge of the facts setting forth a copy of the
      notice of the meeting and showing that said notice was published as provided
      above. The record will show the principal amount of the Notes (in the case
      of
      Original Issue Discount Notes, such principal amount thereof that would be
      due
      and payable as of the date of such vote upon a declaration of acceleration
      of
      the maturity thereof pursuant to Section 8) voting in favor of or against
      any resolution. The record shall be signed and verified by the permanent
      chairman and secretary of the meeting and one of the duplicates shall be
      delivered to the relevant Issuer or the Guarantor and the other to the Fiscal
      and Paying Agent to be preserved by the Fiscal and Paying Agent, the latter
      to
      have attached thereto the ballots voted at the meeting. Any record so signed
      and
      verified shall be conclusive evidence of the matters therein stated.

    16.
Consent
      of Holders.

    (a)
      Any authorization, direction,
      notice, consent, waiver, amendment or other action provided by the provisions
      of
      this Agreement or the Notes of any Series to be given or taken by holders (which
      term as used in this Section shall mean with respect to any global Bearer Note
      those persons shown on the records of Euroclear, Clearstream, Luxembourg and/or
      another clearance system, as the case may be, as having interests in such global
      Bearer Note credited to their respective securities clearance accounts) of
      Notes
      of such Series may be embodied in and evidenced by one or more instruments
      of
      substantially similar tenor, listing the serial number of the Note or Notes
      of
      such Series in respect of which each such instrument is submitted, signed by
      the
      requisite number of such holders in person or by their agent duly appointed
      in
      writing; and, except as herein or therein expressly provided, any such
      instrument shall become irrevocable when delivered, and such action shall become
      effective when such instrument signed by such holders is delivered to the Fiscal
      and Paying Agent or other paying agency of the relevant Issuer and (in the
      case
      of Notes issued by an Issuer other than GE Capital) the Guarantor. Proof of
      execution of any such instrument or of a writing appointing any such agent
      by
      the holder of any such Note shall be sufficient for any such purpose of this
      Agreement or such Notes and conclusive in favor of (i) the Fiscal and
      Paying Agent or other paying agency of such Issuer and the Guarantor and
      (ii) such Issuer and the Guarantor if made in the manner provided in this
      Section. 

    (b)
      The fact and date of execution
      of any such instrument and the fact that any person is the holder of the Note
      or
      Notes of any Series of which the serial numbers are listed in such instrument
      may be proved by the certificate of a financial institution of recognized
      standing to such effect, or in any other manner which the relevant Issuer and
      the Guarantor deem sufficient. 

     

    39

    (c)
      Any authorization, direction,
      notice, consent, waiver or other action by the holder of any Note shall bind
      every future holder of such Note in respect of anything done, omitted or
      suffered to be done in reliance thereon, whether or not notation of such action
      is made upon such Note. 

    17.
Stamp
      Taxes. The relevant
      Issuer or the Guarantor will pay all stamp or other documentary taxes or duties,
      if any, to which the execution or delivery of this Agreement or the issuance
      of
      the Notes of any Series or any coupons appertaining thereto may be subject.
      

    18.
Modifications
      and
      Amendments. 

    (a)
      This Agreement may be amended by
      the parties hereto, without the consent of the holder (which term as used in
      this Section shall mean with respect to any global Bearer Note those persons
      shown on the records of Euroclear, Clearstream, Luxembourg or another clearance
      system, as the case may be, as having interests in such global Bearer Note
      credited to their respective securities clearance accounts) of any Note, for
      the
      purposes of (i) providing for the issuance of Notes pursuant to
      Section 2 hereof; (ii) curing any ambiguity or correcting or
      supplementing any provision contained herein which may be defective or
      inconsistent with any other provision contained herein; (iii) adding to the
      covenants of the relevant Issuer or (in the case of Notes issued by an Issuer
      other than GE Capital) the Guarantor for the protection of the holders of all
      or
      any Series of the Notes; (iv) effecting any assumption of the relevant
      Issuer's or the Guarantor's obligations hereunder and under the Notes or the
      Guarantee by a successor corporation pursuant to Section 14(a) of this
      Agreement; (v) evidencing and providing for the acceptance of appointment
      hereunder by a successor Fiscal and Paying Agent with respect to the Notes
      of
      one or more Series; or (vi) amending this Agreement in any other manner
      which the parties may mutually deem necessary or desirable and which shall
      not
      adversely affect the interests of the holders of the Notes of any Series
      outstanding on the date of such amendment. Nothing in this Agreement prevents
      the Issuers, the Guarantor and the Fiscal and Paying Agent from amending this
      Agreement in such a manner as to only have a prospective effect on Notes issued
      on or after the date of such amendment. 

    (b)
      Modifications and amendments to
      this Agreement or the Notes of any Series or the Guarantee may also be made,
      and
      future compliance therewith or past Event of Default by the relevant Issuer
      or
      the Guarantor may be waived, by holders of not less than a majority in aggregate
      principal amount of the Notes of such Series (or, in each case, such lesser
      amount as shall have acted at a meeting of holders of such Notes, pursuant
      to
      Section 15 of this Agreement); provided, however, that no such modification
      or amendment to this Agreement or the Notes may, without the consent of the
      holders of each such Note of such Series affected thereby, (i) change the
      stated maturity of the principal of any such Note of such Series or extend
      the
      time for payment of interest thereon; (ii) change the amount of the
      principal of an Original Issue Discount Note of such Series that would be due
      and payable upon an acceleration of the maturity thereof; (iii) reduce the
      amount of interest payable thereon or the amount payable thereon in the event
      of
      redemption or acceleration; (iv) change the currency of payment of
      principal of or any other amounts payable on any such Note; (v) impair the
      right to institute suit for the enforcement of any such payment on or with
      respect to any such Note or the Guarantee; (vi) reduce the above-stated
      percentage of the principal amount of Notes of such Series the consent of whose
      holders is necessary to modify or amend this Agreement or the Notes of such
      Series or reduce the percentage of Note of such Series required for the taking
      of action or the quorum required at any such meeting of holders of Notes of
      such
      Series; or (vii) modify the foregoing requirements to reduce the percentage
      of outstanding Notes of such Series necessary to waive any future compliance
      or
      past default. 

     

    40

    (c)
      Any such modification or
      amendments will be conclusive and binding on all holders of Notes of the
      relevant Series and on all future holders of such Notes, whether or not they
      have consented to such modifications or amendments and whether or not notation
      of such modifications or amendments is made upon the Notes of such Series.
      

    19.
Accession
      of Additional
      Issuers. Each of the Issuers, the Guarantor and the Fiscal and Paying Agent
      acknowledge and agree that one or more additional Issuers (each, an ?Additional
      Issuer") may from time to time accede to this Agreement upon the terms and
      conditions set forth below. On and after the Accession Date (as defined below)
      with respect to an Additional Issuer, such Additional Issuer shall be bound
      by
      the terms of this Agreement and shall be entitled to all rights and benefits,
      and subject to all duties and obligations, of an Issuer hereunder. 

    (a)
      Requirements as to Additional
      Issuers. Each Additional Issuer shall (i) be a Subsidiary (as hereinafter
      defined) of GE Capital and (ii) only issue Notes which are unconditionally
      and irrevocably guaranteed by GE Capital. As used herein, ?Subsidiary" shall
      have the meaning as set forth in Rule 1-02(x) of Regulation S-X under the U.S.
      Securities Act of 1933, as amended. 

    (b)
      Conditions Precedent to
      Accession. On or prior to the date on which an Additional Issuer shall accede
      as
      a party to this Agreement (the ?Accession Date"), each of the following
      conditions precedents must be fulfilled: 

     

    
      	 	(i)	such
              Additional Issuer, the Guarantor and the Fiscal and Paying
              Agent shall have executed and delivered an Issuer Accession Letter,
              substantially in the form attached hereto as Exhibit E (each, an ?Issuer
              Accession Letter"), together with the attachments described therein;
              

    

     

    
      	 	(ii)	such
              Additional Issuer and the Guarantor shall certify to the
              Fiscal and Paying Agent the form of Notes to be executed and authenticated
              from time to time for each Series of Notes issued by such Additional
              Issuer as provided in Section 2(b) hereof, including the form of the
              Guarantee to appear thereon which shall be substantially in the form
              of
              Exhibit D-1 hereto, modified as appropriate to refer to such Additional
              Issuer; 

    

     

    
      	 	(iii)	such
              Additional Issuer shall confirm that the Notes are being
              issued pursuant to authority granted by its Board of Directors or similar
              governing body, including any duly authorized committee thereof, and
              certify the persons who are Issuer Authorized Representatives of such
              Additional Issuer as provided in Section 3(a) hereof; and
              

    

     

    
      	 	(iv)	such
              Additional Issuer shall confirm that it has sent to each Agent
              under the Distribution Agreement an Issuer Accession Notice (as defined
              in
              the Distribution Agreement) and provide a copy of such Issuer Accession
              Notice to the Fiscal and Paying Agent together with such attachments
              as
              are described therein. 

    

    20.
Notices
      to Parties. All
      notices hereunder to the parties hereto shall be deemed to have been given
      when
      sent by certified or registered mail, postage prepaid, or by facsimile
      transmission, addressed to any party hereto as follows: 

     

    41

    GE
      Capital: 

    General
      Electric Capital Corporation

    260
      Long Ridge Road 

    Stamford,
      Connecticut 06927 U.S.A.

    Attention:
      Senior Vice
      President-Corporate Treasury and Global Funding Operation 

    Facsimile:
      1-203-357-4975

    Telephone:
      1-203-357-4000

    GEC
      Australia Funding: 

    GE
      Capital Australia Funding Pty.
      Ltd. (A.B.N. 67 085 675 467) 

    572
      Swan Street 

    Richmond,
      Victoria 3121

    Australia

    Attention:
      Vice President

    Facsimile:
      612-8249-3582

    Telephone:
      612-8249-3788

    in
      each case with a copy to GE
      Capital in its capacity as Guarantor delivered in accordance with this
      Section 20; 

    GEC
      Canada Funding: 

    GE
      Capital Canada Funding Company

    c/o
      General Electric Capital Canada
      Inc. 

    2300
      Meadowvale Boulevard

    Missisauga,
      Ontario 

    Canada
      L5N 5P9 

    Attention:
      General Counsel

    Facsimile:
      1-905-858-5710

    Telephone:
      1-905-858-5243

    in
      each case with a copy to GE
      Capital in its capacity as Guarantor delivered in accordance with this
      Section 20; 

    GE
      Capital European Funding:

    GE
      Capital UK Funding: 

    WIL
      House 

    Shannon
      Business Park 

    Shannon,
      Co. Clare 

    Ireland

    Attention:
      Company Secretary

    Facsimile:
      353-61-362-010

    Telephone:
      353-61-362322

    in
      each case with a copy to GE
      Capital in its capacity as Guarantor delivered in accordance with this
      Section 20; 

     

    42

    Fiscal
      and Paying Agent:

    JPMorgan
      Chase Bank, N.A.

    Trinity
      Tower 

    9
      Thomas More Street 

    London
      E1W 1YT, England

    Attention:
      Manager, Worldwide
      Securities Services 

    Facsimile:
      44-1202-34-7601

    Telephone:
      44-1202-34-3519

    Registrar
      and Transfer Agent:

    J.P.
      Morgan Bank Luxembourg S.A.

    6
      route de Tr?ves 

    L-2633
      Senningberg 

    Grand
      Duchy of Luxembourg

    Attention:
      Manager, Manager,
      Worldwide Securities Services 

    Facsimile:
      352 4626 85380

    or
      at any other address of which
      either of the foregoing shall have notified the other in writing. 

    Any
      notice, direction, request or
      demand by any holder of Notes or coupons to or upon the Fiscal and Paying Agent
      shall be deemed to have been sufficiently given or made, for all purposes,
      if
      given or made in writing at the principal London office of the Fiscal and Paying
      Agent, addressed to the attention of its corporate trust office. 

    21.
Notices
      to and by Holders of
      the Notes. Each Issuer and (in the case of Notes issued by an Issuer other
      than GE Capital) the Guarantor will give notice promptly to the holders of
      the
      Notes of the termination of appointment of any paying agent of such Issuer
      and
      the Guarantor. Such notice shall be published in one leading English language
      daily newspaper with general circulation in London, England, or, if publication
      in London is not practical, elsewhere in Western Europe. Such publication is
      expected to be made in the Financial Times. Notice of termination of appointment
      of any paying agent to the holders of Notes that have been listed or admitted
      to
      trading on any stock exchange, competent authority and/or market shall be
      published in accordance with the applicable rules and regulations promulgated
      by
      such exchange, competent authority and/or market. Any notice to the holders
      of
      Notes by publication shall be deemed to have been given on the date of such
      publication, or if published in newspapers on different dates, on the date
      of
      the first such publication. 

    So
      long as no definitive Notes are
      in issue in respect of a particular Series, there may, so long as the global
      Note(s) for such Series is or are held in its or their entirety on behalf of
      Euroclear, Clearstream, Luxembourg and/or another clearance system, as the
      case
      may be, and the Notes for such Series are not listed and/or admitted to trading
      on a stock exchange, competent authority and/or market (or, if so listed or
      admitted to trading, for so long as the relevant stock exchange, competent
      authority and/or market so permits), be substituted for such publication in
      such
      newspaper(s) the delivery of the relevant notice to Euroclear, Clearstream,
      Luxembourg and/or such other clearance system for communication by them to
      the
      holders of the Notes. Any such notice shall be deemed to have been given to
      the
      holders of the Notes on the seventh day after the day on which the said notice
      was given to Euroclear, Clearstream, Luxembourg and/or such other clearance
      system. 

     

    43

    Notices
      to be given by a Noteholder
      shall be in writing and given by lodging the same, together with the relative
      Note or Notes, with the Agent. Whilst any Notes are represented by a global
      Note, such notice may be given by a Noteholder to the Fiscal and Paying Agent
      via Euroclear, Clearstream, Luxembourg and/or another clearance system, as
      the
      case may be, in such manner as the Agent and Euroclear, Clearstream, Luxembourg
      and/or such other clearance system may approve for this purpose. 

    22.
Business
      Day. For the
      purposes of this Agreement, ?Business Day" shall mean, unless otherwise
      specified in the form of Notes certified to the Fiscal and Paying Agent pursuant
      to Section 2(b) hereof or contained in the Corporate Order delivered
      pursuant to Section 2(c) hereof with respect to a particular Series of
      Notes, any day other than a Saturday or Sunday or any other day on which banking
      institutions are generally authorized or obligated by law or regulation to
      close
      in (i) the principal financial center of the country in which the relevant
      Issuer is incorporated, (ii) the principal financial center of the country
      of the currency in which the Notes are denominated, (iii) London, England,
      and (iv) any additional financial center specified in the applicable Final
      Terms or Securities Note (as the case my be); provided, however, that with
      respect to Notes denominated in Euro, such day is a day on which the
      Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET)
      System is open. For purposes of this definition, the principal financial center
      of the United States is New York, the principal financial center of Australia
      is
      Sydney and Melbourne and the principal financial center of Canada is Toronto,
      Ontario. 

    23.
Central
      Bank Reporting
      Requirements. In addition to its other duties set forth in this Agreement,
      the Fiscal and Paying Agent is hereby designated as the relevant Issuer's and
      (in the case of Notes issued by an Issuer other than GE Capital) the Guarantor's
      agent for the purpose of complying with notification, reporting or other
      applicable requirements of the various central banks or similar monetary
      authorities regulating Notes issued in Specified Currencies other than U.S.
      dollars. Without limiting the generality of the foregoing, at the date hereof
      such duties shall include the information reporting requirements of the Bank
      of
      England with respect to any Series of Notes where the Specified Currency is
      Pounds Sterling. 

    24.
Governing
      Law. THIS
      AGREEMENT, THE NOTES AND ANY COUPONS APPERTAINING THERETO SHALL BE CONSTRUED
      IN
      ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, U.S.A.

    25.
Consent
      to Service. Each
      Issuer and (in the case of Notes issued by an Issuer other than GE Capital)
      the
      Guarantor has designated the Senior Vice President-Corporate Treasury and Global
      Funding Operation of each Issuer and the Guarantor as authorized agent for
      service of process in any legal action or proceeding arising out of or relating
      this Agreement, the Notes or the Guarantees brought in any federal or state
      court in the Borough of Manhattan, the City of New York, State of New York
      and
      irrevocably submit to the non-exclusive jurisdiction of such courts for such
      purposes (and only for such purposes) as long as there are any outstanding
      Notes. 

    26.
Counterparts.
      This
      Agreement may be signed in any number of counterparts, each of which shall
      be an
      original, with the same effect as if the signatures thereto and hereto were
      upon
      the same instrument. Such counterparts shall together constitute but one and
      the
      same instrument. 

    27.
Inspection
      of Agreement.
      A copy of this Agreement shall be made available by the Fiscal and Paying Agent
      for inspection at all reasonable times at its office as stated in
      Section 20 and at the offices of the paying agents specified in the Notes.

     

    44

    28.
Descriptive
      Headings. The
      descriptive headings in this Agreement are for convenience of reference only
      and
      shall not define or limit the provisions of this Agreement. 

    29.
Provisions
      Binding on
      Successors. All the covenants, stipulations, promises and agreements in this
      Agreement contained by the relevant Issuer and (in the case of Notes issued
      by
      an Issuer other than GE Capital) the Guarantor shall bind its successors and
      assigns whether so expressed or not. 

    30.
Official
      Acts by Successor
      Corporation. Any act or proceeding by any provision of this Agreement
      authorized or required to be done or performed by any board, committee or
      officer of the relevant Issuer or (in the case of Notes issued by an Issuer
      other than GE Capital) the Guarantor shall and may be done and performed with
      like force and effect by the like board, committee or officer of any corporation
      that shall at the time be the lawful sole successor of such Issuer or the
      Guarantor. 

    31.
Severability.
      In case any
      provision in this Agreement or in the Notes shall be invalid, illegal or
      unenforceable, the validity, legality and enforceability of the remaining
      provision shall not in any way be affected or impaired thereby. 

    IN
      WITNESS WHEREOF, the parties
      hereto, including GE Capital in its capacity both as Issuer and as Guarantor
      of
      Notes to be issued by Issuers other than GE Capital, have caused this Eighth
      Amended and Restated Fiscal and Paying Agency Agreement to be duly executed
      as
      of the day and year first above written. 

     

    
      	
            	
            	
            
	GENERAL ELECTRIC CAPITAL CORPORATION
	
            	
            
	By:	 	
               

              /s/
                Kathryn A.
                Cassidy

            
	Name:	 	Kathryn
              A. Cassidy
	Title:	 	Senior
              Vice President, Corporate Treasury
	
            	 	and
              Global Funding Operation
	
            
	GE CAPITAL AUSTRALIA FUNDING PTY. LTD
	
            	
            
	By:	 	
               

              /s/
                Kathryn A.
                Cassidy

            
	Name:	 	Kathryn
              A. Cassidy
	Title:	 	Authorized
              Signatory
	
            
	GE
              CAPITAL CANADA FUNDING COMPANY
	
            	
            
	By:	 	
               

              /s/
                Mark S.
                Barber

            
	Name:	 	Mark
              S.
              Barber
	Title:	 	Vice
              President

    

     

    45

    
      	
            	
            	
            
	GE
              CAPITAL EUROPEAN FUNDING.
	
            	
            
	By:	 	
               

              /s/
                Patrick
                Gilmartin

            
	Name:	 	Patrick
              Gilmartin
	Title:	 	Director
	
            
	GE
              CAPITAL UK FUNDING
	
            	
            
	By:	 	
               

              /s/
                Patrick
                Gilmartin

            
	Name:	 	Patrick
              Gilmartin
	Title:	 	Director
	
            
	
              JPMORGAN
                CHASE
                BANK, N.A.

              as
                Fiscal and Paying
                Agent

            
	
            	
            
	By:	 	
               

              /s/
                Dean
                Kennedy

            
	Name:	 	Dean
              Kennedy
	Title:	 	Authorized
              Signatory
	
            
	
              J.P.
                MORGAN BANK
                LUXEMBOURG S.A.

              as
                Registrar and Transfer
                Agent

            
	
            	
            
	By:	 	
               

              /s/
                Dean
                Kennedy

            
	Name:	 	Dean
              Kennedy
	Title:	 	Authorized
              Signatory

    

     

    46

    APPENDIX
      1 

    NEW
      GLOBAL NOTE PROVISIONS

    In
      relation to each Series of Notes
      that are NGNs, the Fiscal and Paying Agent will comply with the following
      provisions: 

     

    
      	1.	The
              Fiscal and Paying Agent will inform each of Euroclear and
              Clearstream, Luxembourg (the ?ICSDs?), through the common
              service provider appointed by the ICSDs to service the Notes (the
              ?CSP?), of the initial issue outstanding amount
              (?IOA?) for each Tranche on or prior to the relevant
              original issue date. 

    

     

    
      	2.	If
              any event occurs that requires a mark up or mark down of the
              records which an ICSD holds for its customers to reflect such customers?
              interest in the Notes, the Fiscal and Paying Agent will (to the extent
              known to it) promptly provide details of the amount of such mark up
              or
              mark down, together with a description of the event that requires it,
              to
              the ICSDs (through the CSP) to ensure that the IOA of the Notes remains
              at
              all times accurate. 

    

     

    
      	3.	The
              Fiscal and Paying Agent will regularly reconcile its record of
              the IOA of the Notes with information received from the ICSDs (through
              the
              CSP) with respect to the IOA maintained by the ICSDs for the Notes
              and
              will promptly inform the ICSDs (through the CSP) of any discrepancies.
              

    

     

    
      	4.	The
              Fiscal and Paying Agent will promptly assist the ICSDs (through
              the CSP) in resolving any discrepancy identified in the IOA of the
              Notes.
              

    

     

    
      	5.	The
              Fiscal and Paying Agent will promptly provide to the ICSDs
              (through the CSP) details of all amounts paid by it under the Notes
              (or,
              where the Notes provide for delivery of assets other than cash, of
              the
              assets so delivered). 

    

     

    
      	6.	The
              Fiscal and Paying Agent will (to the extent known to it)
              promptly provide to the ICSDs (through the CSP) notice of any changes
              to
              the Notes that will affect the amount of, or date for, any payment
              due
              under the Notes. 

    

     

    
      	7.	The
              Fiscal and Paying Agent will (to the extent known to it)
              promptly provide to the ICSDs (through the CSP) copies of all information
              that is given to the holders of the Notes.

    

     

    
      	8.	The
              Fiscal and Paying Agent will promptly pass on to the relevant
              Issuer all communications it receives from the ICSDs directly or through
              the CSP relating to the Notes. 

    

     

    
      	9.	The
              Fiscal and Paying Agent will (to the extent known to it)
              promptly notify the ICSDs (through the CSP) of any failure by the relevant
              Issuer to make any payment or delivery due under the Notes when due.
              

    

    EXHIBIT
      A

    GENERAL
      ELECTRIC CAPITAL
      CORPORATION 

    AND
      AFFILIATES

    EURO
      MEDIUM-TERM NOTES AND
      OTHER DEBT SECURITIES 

    ADMINISTRATIVE
      PROCEDURES

    May 12,
      2006

    Reference
      is made to
      Section 2(c) of the Eighth Amended and Restated Euro Medium-Term Note
      Distribution Agreement, dated May 12, 2006 (as the same may be further
      amended or supplemented from time to time, the ?Distribution Agreement")
      pursuant to which Euro Medium-Term Notes and other debt securities (the ?Notes")
      are to be offered on a continuous basis by General Electric Capital Corporation
      (?GE Capital"), and each of the other Issuers named therein or made a party
      thereto from time to time (together with GE Capital, each an ?Issuer"). Notes
      issued by each Issuer other than GE Capital will be unconditionally and
      irrevocably guaranteed by GE Capital (the ?Guarantor"). Each of the Dealers
      named in the Distribution Agreement (each a ?Dealer") has agreed to use it
      best
      efforts to solicit offers to purchase the Notes. Each Dealer, as principal,
      may
      also purchase Notes for its own account and if it does so, the relevant Issuer,
      the Guarantor and such Dealer will enter into a terms agreement, as contemplated
      by the Distribution Agreement. Each Issuer and the Guarantor has reserved the
      right in the Distribution Agreement from time to time to appoint one or more
      additional persons either to solicit purchases of Notes from the relevant Issuer
      by others or to purchase Notes directly from the relevant Issuer as principal
      for resale to others, and any reference herein to ?Dealer" shall include each
      such additional persons. 

    The
      Notes will be issued under an
      Eighth Amended and Restated Fiscal and Paying Agency Agreement dated as of
      May 12, 2006, among each Issuer (including GE Capital in its capacity as
      Guarantor of Notes issued by an Issuer other than GE Capital), JPMorgan Chase
      Bank, N.A., as fiscal agent (in such capacity, the ?Fiscal Agent") and principal
      paying agent (in such capacity, the ?Principal Paying Agent"), J.P. Morgan
      Bank
      Luxembourg S.A., as initial registrar and transfer agent, as further amended
      or
      supplemented from time to time (the ?Fiscal Agency Agreement"). Unless otherwise
      specified with respect to a particular series of Notes, the Fiscal Agent will
      also act as the authenticating agent (the ?Authenticating Agent") for the Notes.
      J.P. Morgan Bank Luxembourg S.A. will be the Registrar for the Registered Notes
      (as defined below) and will also perform the duties specified herein and in
      the
      Fiscal Agency Agreement. JPMorgan Chase Bank, N.A. will also act as Calculation
      Agent with respect to the Notes unless a different Calculation Agent is
      appointed by an Issuer or the Guarantor with respect to a specific series of
      Notes. If the relevant Issuer issues any Notes denominated in Hong Kong dollars,
      the Principal Paying Agent will act through one of its branches or agencies
      located outside of Hong Kong and will request of Euroclear and Clearstream,
      Luxembourg (each as defined below) that the common depositary or, as the case
      may be, the common safekeeper, act through an office outside of Hong Kong,
      or as
      may otherwise be required by applicable laws or regulations. 

     

    A-1

    Series
      of Notes may be issued that
      will not be listed on any stock exchange. As used herein, the term ?series
      of
      Notes" shall refer to all Notes having identical terms but for authentication
      date and public offering price, and the term ?tranche of Notes" shall refer
      to
      all Notes having identical terms, including authentication date and public
      offering price. 

    Notes
      will bear interest at a fixed
      rate per annum (the ?Fixed Rate Notes"), which may be zero in the case of
      certain original issue discount notes (the ?OID Notes"), or at floating rates
      per annum (the ?Floating Rate Notes"). Notes may be denominated in any currency,
      subject to any applicable laws and regulations (the ?Specified Currency").
      Unless otherwise specified in the applicable Final Terms or Securities Note
      (as
      the case may be) (each as defined below), the Notes of each tranche will be
      in
      bearer form (?Bearer Notes") and will initially be represented by one or more
      temporary global Notes (each, a ?Temporary Global Note"), without interest
      coupons attached, and will (i) if the Global Note (as defined below) is
      intended to be issued in new global note (?NGN") form, as stated in the
      applicable Final Terms or Securities Note (as the case may be), be delivered
      on
      or prior to the original issue date of the tranche of Notes to a common
      safekeeper (the ?Common Safekeeper") for Euroclear Bank S.A./N.V., as operator
      of the Euroclear System (?Euroclear") and Cleamstream Banking, Soci?t? anonyme
      (?Clearstream, Luxembourg"); and (ii) if the Global Note is to be issued in
      classic global note (?CGN") form, be delivered to a common depositary located
      outside the United States (the ?Common Depositary") for Euroclear and
      Clearstream, Luxembourg and subsequently by a permanent global Note (each,
      a
      ?Permanent Global Note") and/or one or more definitive Bearer Notes (each,
      a
      ?Definitive Bearer Note"), with coupons, if any, attached. References to ?Global
      Note" shall mean the Temporary Global Note or Permanent Global Note and
      references to ?Bearer Notes" shall, except where otherwise indicated, include
      interests in a Temporary Global Note or Permanent Global Note as well as
      Definitive Bearer Notes and any coupons attached thereto. If specified in the
      applicable Final Terms or Securities Note (as the case may be), Notes may also
      be issued in fully registered form (?Registered Notes"). If so specified in
      the
      applicable Final Terms or Securities Note (as the case may be), a tranche or
      series of Notes may also be held in alternative clearance systems. 

    The
      Notes may be described in an
      Offering Document prepared by each Issuer (including GE Capital in its capacity
      as Guarantor of Notes issued by an Issuer other than GE Capital), which may
      be
      amended from time to time (the ?Offering Document"). The terms of each tranche
      of Notes issued under the Fiscal Agency Agreement will be described in either:
      

     

    
      	 	1.	a
              supplement to the Prospectus (each such supplement hereinafter
              referred to as the ?Final Terms"). The term ?Prospectus" is used herein
              to
              describe the Prospectus together with the applicable Final Terms unless
              the context otherwise requires; or 

    

     

    
      	 	2.	a
              supplement to the Registration Document (each supplement
              hereinafter referred to as the ?Securities Note"). The term ?Registration
              Document" is used herein to describe the Registration Document together
              with the applicable Securities Note unless the context otherwise requires.
              

    

    In
      case of any conflict between
      these Administrative Procedures and either the Distribution Agreement or the
      Fiscal Agency Agreement, the terms of the Distribution Agreement or the Fiscal
      Agency Agreement, respectively, shall govern. Capitalized terms used but not
      defined herein shall have the meanings assigned to such terms in the
      Distribution Agreement or in the Fiscal Agency Agreement. 

     

    A-2

    ADMINISTRATIVE
      PROCEDURES

     

    
      	
            	
            	
            
	Issuance:	  	Bearer
              Notes. Each Bearer Note in global form which is
              intended to be issued in CGN form will be dated and issued as of the
              date
              of authentication by the Fiscal Agent. Each Bearer Note in global form
              which is intended to be issued in NGN form and is intended to be
              Eurosystem-eligible collateral (a ?Eurosystem-eligible NGN") will be
              dated
              and issued as of the date of both authentication by the Fiscal Agent
              and
              effectuation by the Common Safekeeper. Each Note will bear an original
              issue date, which will be (i) with respect to a Temporary Global Note
              (or
              any portion thereof), the date of its original issue as specified in
              such
              Temporary Global Note or (ii) with respect to any Permanent Global
              Note or
              Definitive Bearer Note (or portion thereof) issued subsequently upon
              transfer or exchange of a Bearer Note or in lieu of a destroyed, lost
              or
              stolen Bearer Note, the original issue date of the predecessor Bearer
              Note, regardless of the date of authentication (and effectuation, as
              applicable) of such subsequently issued Bearer Note.
	
            	
            
	
            	  	Each
              Bearer Note issued by an Irish Issuer with a maturity of less than
              one
              year shall carry the title ?Commercial Paper", include a statement
              to the
              effect that it is guaranteed and identify the Guarantor by name and
              bear
              the following legend:
	
            	
            
	
            	  	?This
              Note is issued in accordance with an exemption granted by the Irish
              Financial Services Regulatory Authority as a constituent part of the
              Central Bank and Financial Services Authority of Ireland (?IFSRA")
              under
              section 8(2) of the Central Bank Act, 1971 of Ireland, as inserted
              by
              section 31 of the Central Bank Act, 1989 of Ireland, as amended by
              section
              70(d) of the Central Bank Act, 1997 of Ireland. [Insert name of
              relevant Irish Issuer] is not regulated by IFSRA arising from the
              issue of Notes. An investment in Notes issued by [insert name of
              relevant Irish Issuer] with a maturity of less than one year does not
              have the status of a bank deposit and is not within the scope of the
              Deposit Protection Scheme operated by IFSRA."
	
            	
            
	
            	  	Registered
              Notes. Except as described below, each Registered Note
              will be dated and issued as of the date of its authentication by the
              Authenticating Agent. Each Registered Note will bear an original issue
              date, which will be (i) with respect to an original Registered Note
              (or
              any portion thereof), its original issuance date (which will be the
              settlement date), (ii) with respect to any Registered Note (or portion
              thereof) issued subsequently upon

    

     

    A-3

    
      	
            	
            	
            
	
            	  	transfer
              or exchange of a Registered Note or in lieu of a
              destroyed, lost or stolen Registered Note, the original issuance date
              of
              the predecessor Registered Note, regardless of the date of authentication
              of such subsequently issued Registered Note and (iii) with respect
              to any
              Registered Note (or portion thereof) issued in exchange for an interest
              in
              a Permanent Global Note, the last date on which interest was paid on
              such
              Permanent Global Note or any predecessor Note.
	
            	
            
	
            	  	Each
              Registered Note issued by an Irish Issuer with a maturity of less than
              one
              year shall carry the title ?Commercial Paper", include a
              statement to the effect that it is guaranteed and identify the Guarantor
              by name and bear the following legend:
	
            	
            
	
            	  	?This
              Note is issued in accordance with an exemption granted by IFSRA under
              section 8(2) of the Central Bank Act, 1971 of Ireland, as inserted
              by
              section 31 of the Central Bank Act, 1989 of Ireland, as amended by
              section
              70(d) of the Central Bank Act, 1997 of Ireland. [Insert name of
              relevant Irish Issuer] is not regulated by IFSRA arising from the
              issue of Notes. An investment in Notes issued by [insert name of
              relevant Irish Issuer] with a maturity of less than one year does not
              have the status of a bank deposit and is not within the scope of the
              Deposit Protection Scheme operated by IFSRA."
	
            	
            
	Registration:	  	Registered
              Notes will be issued only in fully registered form
              without coupons.
	
            	
            
	Guarantee:	  	Each
              Note issued by an Issuer other than GE Capital will have the Guarantee
              of
              the Guarantor endorsed thereon.
	
            	
            
	Transfers
              and Exchanges:	  	Bearer
              Notes. For so long as any of the Notes are
              represented by a global Note, each person who is for the time being
              shown
              in the records of Euroclear or Clearstream, Luxembourg as the holder
              of a
              particular principal amount of Notes (in which regard any certificate
              or
              other document issued by Euroclear or Clearstream, Luxembourg as to
              the
              principal amount of such Notes standing to the account of any person
              shall
              be conclusive and binding for all purposes except in the case of manifest
              error) shall be treated as the holder of such principal amount of such
              Notes for all purposes other than with respect to the payment of principal
              or interest on the Notes, the right to which shall be vested, as against
              the Issuers, the Fiscal Agent and any Paying Agent solely in the bearer
              of
              the relevant global Note in accordance with and subject to its terms.
              Transfers of interests in a Temporary or Permanent Global Note will
              be
              made by Euroclear or Clearstream, Luxembourg in accordance with its
              customary operating procedures. Title to definitive Bearer Notes and
              coupons will

    

     

    A-4

    
      	
            	
            	
            
	
            	  	pass
              by physical delivery. The bearer of each coupon, whether or not attached
              to a definitive Bearer Note, shall be subject to and bound by all the
              provisions contained in the definitive Bearer Note to which such coupon
              relates. The bearer of any definitive Bearer Note and any coupon may,
              to
              the fullest extent permitted by applicable law, be treated at all times,
              by all persons and for all purposes as the absolute owner of such
              definitive Bearer Note or coupon, as the case may be, regardless of
              any
              notice of ownership, theft or loss or of any writing thereon. Bearer
              Notes
              may be exchanged, if so provided in the applicable Final Terms or
              Securities Note (as the case may be), for Registered Notes.
	
            	
            
	
            	  	Registered
              Notes. A Registered Note may be presented for
              transfer or exchange at the corporate trust office of the Registrar
              or any
              Transfer Agent appointed under the Fiscal Agency Agreement. Registered
              Notes will be exchangeable for other Registered Notes having identical
              terms but different denominations without service charge. Registered
              Notes
              will not be exchangeable for Bearer Notes.
	
            	
            
	Maturities:	  	Each
              Note will mature on a date from nine months or more from its date of
              issue; provided, however, Notes denominated in Specified Currencies
              other
              than US dollars may be subject to restrictions on maturities as provided
              for in the Distribution Agreement or as otherwise may be required by
              regulations of the applicable central bank or similar monetary authority
              of the country issuing the Specified Currency.
	
            	
            
	Specified
              Currency:	  	The
              currency denomination with respect to any Note and the payment of interest
              and the repayment of principal with respect to any such Note shall
              be as
              set forth therein and in the applicable Final Terms or Securities Note
              (as
              the case may be).
	
            	
            
	Denominations:	  	Notes
              will be issued in such denominations as may be agreed between the Issuer
              and the relevant Dealer(s) and as indicated in the applicable Final
              Terms
              or Securities Note (as the case may be) provided always that (i) the
              minimum denomination of each Note will be such as may be allowed or
              required from time to time by the relevant central bank (or equivalent
              body) or any laws or regulations applicable to the relevant Specified
              Currency; and (ii) Notes issued by an Irish Issuer will be subject
              to a
              minimum denomination of ?1,000 (or the equivalent in another Specified
              Currency).
	
            	
            
	Global
              Notes and Definitive Bearer and Registered Notes:	  	

Until
              the 40th day following
              the date of issuance of any tranche of Bearer Notes or such other date
              as
              may be required to comply with the terms of Regulation S ("Regulation
              S")
              under the U.S.

    

     

    A-5

    
      	
            	
            	
            
	
            	  	Securities
              Act of 1933, as amended, as described in the
              Distribution Agreement (the ?Exchange Date"), and until Final
              Certification (as defined below) in accordance with TEFRA D as described
              in the Distribution Agreement, such tranche of Bearer Notes will be
              represented by one or more Temporary Global Notes in bearer form without
              interest coupons. The relevant Issuer shall execute, and upon the
              instructions of the relevant Issuer the Authenticating Agent shall
              complete and authenticate, and with respect to a Eurosystem-eligible
              NGN
              the Authenticating Agent shall also instruct the Common Safekeeper
              to
              effectuate, such Temporary Global Note upon the same conditions and
              in
              substantially the same manner, and with the same effect, as an individual
              definitive Bearer Note. On or prior to the settlement date (which will
              normally be the original issue date) with respect to such Notes, the
              Authenticating Agent shall (i) with respect to a Temporary Global Note
              which is intended to be issued in NGN form, deposit the authenticated
              and
              effectuated Temporary Global Note with the Common Safekeeper and (ii)
              with
              respect to a Temporary Global Note which is intended to be issued in
              CGN
              form deposit the Temporary Global Note with the Common Depositary,
              in each
              case, in the manner specified below under ?Settlement Procedures; Bearer
              Notes". The interest of each beneficial owner of Bearer Notes represented
              by such Temporary Global Note will be credited to the appropriate account
              with Euroclear or Clearstream, Luxembourg, as specified below under
              ?Interest ? General; Bearer Notes".
	
            	
            
	
            	  	On
              or
              after the Exchange Date and provided that Final Certification (as
              described below) has occurred, the interest of the beneficial owners
              of
              the Notes represented by the Temporary Global Note shall be cancelled
              and
              such interests shall thereafter be represented by a Permanent Global
              Note
              or Definitive Bearer Notes or, if provided in the applicable Final
              Terms
              or Securities Note (as the case may be), by definitive Registered Notes.
              The interest of each beneficial owner of Bearer Notes represented by
              a
              Permanent Global Note will be credited to the appropriate account with
              Euroclear or Clearstream, Luxembourg.
	
            	
            
	
            	  	The
              beneficial owner of an interest in a Permanent Global Note may, at
              any
              time, upon 30 days' written notice to the Fiscal Agent as provided
              in the
              Fiscal Agency Agreement given by such beneficial owner through either
              Euroclear or Clearstream, Luxembourg, as the case may be, exchange
              its
              beneficial interest in such Permanent Global Note for one or more
              Definitive Bearer Notes (or, if provided in the applicable Final Terms
              or
              Securities Note (as the case may be), a Registered Note) equal in
              aggregate principal amount to such beneficial interest. Upon receipt
              by
              the Fiscal Agent of an initial request to exchange an interest in
              a

    

     

    A-6

    
      	
            	
            	
            
	
            	  	Permanent
              Global Note for a Definitive Bearer Note or Notes, all
              other interests in such Permanent Global Note shall, so long as Euroclear
              or Clearstream, Luxembourg shall so require, be exchanged for Definitive
              Bearer Notes. Such exchange shall occur at no expense to the beneficial
              owners as soon as practicable after the receipt of the initial request
              for
              Definitive Bearer Notes. After such exchange has occurred, all remaining
              interests in the Temporary Global Note will be exchangeable only for
              definitive Bearer Notes or (if so provided in the applicable Final
              Terms
              or Securities Note (as the case may be)) for definitive Registered
              Notes.
	
            	
            
	
            	  	In
              all
              events, Bearer Notes will be delivered by the Fiscal Agent only outside
              the United States to non-US persons.
	
            	
            
	Final
              Certification:	  	Final
              Certification with respect to a Temporary Global Note shall mean the
              delivery by Euroclear or Clearstream, Luxembourg, as the case may be,
              to
              the Fiscal Agent of a signed certificate (a ?Clearance System
              Certificate") in substantially the form set forth in Exhibit B-1 to
              the
              Fiscal Agency Agreement with respect to the Notes being exchanged,
              dated
              no earlier than the Exchange Date for such Notes, to the effect that
              Euroclear or Clearstream, Luxembourg, as the case may be, has received
              certificates (?Certificates of Non-U.S. Beneficial Ownership") in the
              form
              substantially set forth in Exhibit B-2 to the Fiscal Agency Agreement
              with
              respect to each of such Notes, which Certificates of Non-U.S. Beneficial
              Ownership shall be dated no earlier than ten days before the Exchange
              Date
              and shall be delivered by the account holders appearing on its records
              as
              entitled to such Notes.
	
            	
            
	Interest:	  	The
              following is a summary of terms of the Notes with respect to interest
              and
              is for informational purposes only; the terms of each Note as described
              in
              the applicable Final Terms and the Prospectus (in the case of Notes
              issued
              by way of the Prospectus) or the applicable Securities Note and
              Registration Document (in the case of Notes issued by way of the
              Registration Document) shall govern in the case of any conflict with
              the
              provisions set forth below. Terms used but not defined herein shall have
              the meanings assigned to them in the Offering Document.
	
            	
            
	
            	  	General:
              Bearer Notes. Interest on each Bearer Note will
              accrue from and including the original issue date of such Note for
              the
              first interest period and from and including the most recent date to
              which
              interest has been paid for all subsequent interest periods. Each payment
              of interest on a Bearer Note will include interest accrued from and
              including the next preceding Interest Payment Date in respect of which
              interest has been paid (or from and

    

     

    A-7

    
      	
            	
            	
            
	
            	  	including
              the date of issue, if no interest has been paid) to but excluding the
              Interest Payment Date; provided, however, that in the case of Floating
              Rate Notes on which the interest rate is reset daily or weekly, each
              interest payment will include interest accrued from and including the
              date
              of issue or from but excluding the fifteenth calendar day preceding
              the
              next preceding Interest Payment Date (whether or not such fifteenth
              calendar day is a Business Day), unless otherwise specified in the
              applicable Final Terms or Securities Note (as the case may be); and
              provided, further, that interest in respect of any Interest Payment
              Date
              on any interest in a Temporary Global Note for which Final Certification
              has not been made shall not be paid until the occurrence of the earlier
              of
              (1) Final Certification with respect to such interest in such Temporary
              Global Note and (2) in the case of an Interest Payment Date occurring
              between the original issue date and the Exchange Date, delivery by
              Euroclear or Clearstream, Luxembourg, as the case may be, to the Fiscal
              Agent of a Clearing System Certificate dated no earlier than such Interest
              Payment Date to the effect that Euroclear or Clearstream, Luxembourg,
              as
              the case may be, has received Certificates of Non-U.S. Beneficial
              Ownership with respect to such interests in the Temporary Global Note,
              which Certificates of Non-U.S. Beneficial Ownership shall have been
              dated
              no earlier than ten days before such Interest Payment Date and shall
              be
              signed by the account holders appearing on its records as entitled
              to such
              Notes.
	
            	
            
	
            	  	Fixed
              Rate Bearer Notes. Unless otherwise specified in the applicable Final
              Terms or Securities Note (as the case may be), interest payments on
              Fixed
              Rate Bearer Notes will be made on the dates specified in the applicable
              Final Terms or Securities Note (as the case may be) and at maturity
              or
              upon any earlier redemption or repayment.
	
            	
            
	
            	  	Floating
              Rate Bearer Notes. Interest payments will be made
              on Floating Rate Bearer Notes monthly, quarterly, semi-annually or
              annually. Except as provided below or as specified in the applicable
              Final
              Terms or Securities Note (as the case may be), interest will be payable,
              in the case of Floating Rate Bearer Notes with a daily, weekly or monthly
              Interest Reset Date, on the third Wednesday of each month or on the
              third
              Wednesday of March, June, September and December, as specified pursuant
              to
              ?A? under ?Settlement Procedures; Bearer Notes? below (?Settlement
              Procedure ?A??); in the case of Notes with a quarterly Interest Reset
              Date, on the third Wednesday of March, June, September and December
              of
              each year; in the case of Notes with a semi-annual Interest Reset Date,
              on
              the third Wednesday of the two months specified pursuant to Settlement
              Procedure ?A? and

    

     

    A-8

    
      	
            	
            	
            
	
            	  	in
              the
              case of Notes with an annual Interest Reset Date, on the third Wednesday
              of the month specified pursuant to Settlement Procedure ?A? and, in
              each
              case, on the Maturity Date. If any such Interest Payment Date is not
              a
              Business Day, the provisions set forth under ?Payments of Principal
              and
              Interest ? Bearer Notes? shall apply.
	
            	
            
	
            	  	General:
              Registered Notes. Interest on each Registered Note
              will accrue from and including the original issue date of such Note
              for
              the first interest period and from and including the most recent date
              to
              which interest has been paid for all subsequent interest periods. Each
              payment of interest on a Registered Note will include interest accrued
              from and including the next preceding Interest Payment Date in respect
              of
              which interest has been paid (or from and including the date of issue,
              if
              no interest has been paid) to but excluding the Interest Payment Date,
              provided, however, that in the case of Floating Rate Notes which reset
              daily or weekly, interest payments will include interest from and
              including the date of issue or from but excluding the last Regular
              Record
              Date to which interest has been paid, as the case may be, through and
              including the Regular Record Date next preceding the Interest Payment
              Date, unless otherwise specified in the applicable Final Terms or
              Securities Note (as the case may be); and provided, further, that at
              the
              Maturity Date, the interest payable will include interest accrued to
              but
              excluding the Maturity Date.
	
            	
            
	
            	  	Fixed
              Rate Registered Notes. Unless otherwise specified in the applicable
              Final Terms or Securities Note (as the case may be), interest payments
              on
              Fixed Rate Registered Notes will be made on the dates specified in
              the
              applicable Final Terms or Securities Note (as the case may be) and
              at the
              Maturity Date; provided, however, that in the case of Registered Fixed
              Rate Notes issued between a Regular Record Date and an Interest Payment
              Date, the first interest payment will be made on the Interest Payment
              Date
              following the next succeeding Regular Record Date.
	
            	
            
	
            	  	Floating
              Rate Registered Notes. Interest payments will be
              made on Floating Rate Registered Notes monthly, quarterly, semiannually
              or
              annually. Except as provided below or as specified in the applicable
              Final
              Terms or Securities Note (as the case may be), interest will be payable,
              in the case of Floating Rate Registered Notes with a daily, weekly
              or
              monthly Interest Reset Date, on the third Wednesday of each month or
              on
              the third Wednesday of March, June, September and December, as specified
              pursuant to ?AA? below under ?Settlement Procedures; Registered Notes?
              (?Settlement Procedure ?AA??); in the case of Notes with a quarterly
              Interest Reset Date, on the third

    

     

    A-9

    
      	
            	
            	
            
	
            	  	Wednesday
              of March, June, September and December of each year; in the case of
              Notes
              with a semi-annual Interest Reset Date, on the third Wednesday of the
              two
              months specified pursuant to Settlement Procedure ?AA?; and in the
              case of
              Notes with an annual Interest Reset Date, on the third Wednesday of
              the
              month specified pursuant to Settlement Procedure ?AA? and, in each
              case,
              on the Maturity Date; provided, however, that in the case of Registered
              Floating Rate Notes issued between a Regular Record Date and an Interest
              Payment Date, the first interest payment will be made on the Interest
              Payment Date following the next succeeding Record Date. If any such
              Interest Payment Date is not a Business Day, the provisions set forth
              under ?Payments of Principal and Interest ? Registered Notes? shall
              apply.
	
            	
            
	Disclosure
              under Interest Act (Canada):	  	

In
              the case of Notes issued by
              GEC Canada Funding whenever it is necessary to compute any amount of
              interest in respect of the Notes for a period of less than a full year,
              such interest shall be calculated on the basis of a 360-day year
              consisting of 12 months of 30 days each. For purposes only of disclosure
              under the Interest Act (Canada), the yearly rate of interest to
              which interest so calculated is equivalent is the interest rate set
              forth
              herein multiplied by a fraction the numerator of which is the number
              of
              days in the calendar year in which the same is to be ascertained and
              the
              denominator of which is 360.
	
            	
            
	Calculation
              of Interest:	  	The
              following is a summary of terms of the Notes with respect to the
              calculation of interest and is for informational purposes only; the
              terms
              of each Note as described in the applicable Final Terms and the Prospectus
              (in the case of Notes issued by way of the Prospectus) or the applicable
              Securities Note and Registration Document (in the case of Notes issued
              by
              way of the Registration Document) shall govern in the case of any conflict
              with the provisions set forth below. Terms used but not defined herein
              shall have the meanings assigned to them in the Offering
              Document.
	
            	
            
	
            	  	Fixed
              Rate Notes. Interest will be calculated as specified in either (i) the
              Prospectus or as modified in the applicable Final Terms or (ii) the
              Securities Note (as the case may be).
	
            	
            
	
            	  	Floating
              Rate Notes. Interest will be calculated as
              specified in either (i) the Prospectus or as modified in the applicable
              Final Terms or (ii) the Securities Note (as the case may be).
	
            	
            
	Payments
              of Principal and Interest:	  	

The
              following is a summary of
              terms of the Notes with respect to the payment of principal and interest
              and is for informational purposes only; the terms of each Note (as
              described in either (i)

    

     

    A-10

    
      	
            	
            	
            
	
            	  	the
              Final
              Terms and the Prospectus or (ii) the Registration Document and the
              Securities Note (as the case may be)) and the Fiscal Agency Agreement
              shall govern in the case of any conflict with the provisions set forth
              below. Terms used but not defined herein shall have the meanings assigned
              to them in the Fiscal Agency Agreement.
	
            	
            
	
            	  	Bearer
              Notes. Except as otherwise provided in the Bearer Notes, payment of
              the principal amount of each Bearer Note at the Maturity Date thereof
              will
              be made only upon presentation and surrender of such Bearer Note to
              the
              Principal Paying Agent or any Paying Agent outside the United States.
              Such
              payment, together with payment of interest due at the Maturity Date
              of
              such Note, will be made in funds available for immediate use by the
              Principal Paying Agent or such Paying Agent and in turn by the holder
              of
              such Note. Bearer Notes presented to the Principal Paying Agent or
              a
              Paying Agent at the Maturity Date for payment will be cancelled or
              destroyed by such paying agent and delivered to the relevant Issuer
              with a
              certificate of cancellation or destruction, as applicable. All interest
              payments on a Bearer Note (other than interest due at the Maturity
              Date)
              will be made by check drawn on the Principal Paying Agent (or another
              person appointed by the Principal Paying Agent) and delivered to an
              address outside the United States by the Principal Paying Agent to
              the
              person entitled thereto or by wire transfer of immediately available
              funds
              to an account maintained by the payee with a bank located outside the
              United States.
	
            	
            
	
            	  	Except
              as
              specified in ?Interest ? General; Bearer Notes? above, interest on
              a
              Global Note shall be payable to the beneficial owner thereof through
              credit to the account of such owner or of the custodian bank of such
              owner
              with Euroclear or Clearstream, Luxembourg. On the occasion of each
              payment, (i) in the case of a CGN, the Paying Agent to which any
              Global Note was presented for the purpose of making the payment shall
              cause the appropriate schedule to the relevant Global Note to be annotated
              so as to evidence the amounts and dates of the payments of principal
              and/or interest as applicable or (ii) in the case of any Global Note
              which is a NGN, the Fiscal Agent shall instruct Euroclear and Clearstream,
              Luxembourg to make appropriate entries in their records to reflect
              such
              payment. Except as otherwise provided in the Bearer Notes, interest
              on a
              definitive Bearer Note shall be payable to the holder of the appropriate
              coupon appertaining thereto only upon presentation and surrender of
              such
              coupon at the office of the Principal Paying Agent or any other Paying
              Agent outside the United States.

    

     

    A-11

    
      	
            	
            	
            
	
            	  	If
              any
              Fixed Interest Payment Date or the Maturity Date or redemption or
              repayment date of a Fixed Rate Bearer Note is not a Business Day, the
              payment due on such day shall be made on the next succeeding Business
              Day
              and no interest shall accrue on such payment for the period from and
              after
              such Fixed Interest Payment Date or Maturity Date, as the case may
              be. If
              any Interest Payment Date (other than the Maturity Date) for any Floating
              Rate Bearer Note would fall on a day that is not a Business Day with
              respect to such Note, such Interest Payment Date will be the following
              day
              that is a Business Day with respect to such Note at which time the
              Issuer
              will pay additional interest that has accrued up to but excluding such
              following Business Day, except that, in the case of a Bearer LIBOR
              Note or
              EURIBOR Note, if such Business Day is in the next succeeding calendar
              month, such Interest Payment Date shall be the immediately preceding
              day
              that is a Business Day with respect to such Bearer LIBOR Note or EURIBOR
              Note. If the Maturity Date for any Floating Rate Bearer Note would
              fall on
              a day that is not a Business Day with respect to such Note, the payment
              of
              principal, premium, if any, and interest, if any, will be made on the
              following day that is a Business Day with respect to such Note, and
              no
              interest shall accrue for the period from and after such Maturity
              Date.
	
            	
            
	
            	  	Registered
              Notes. Except as otherwise provided in a
              Registered Note, the Principal Paying Agent will pay the principal
              amount
              of each Registered Note at the Maturity Date upon presentation and
              surrender of such Note to its offices. Such payment, together with
              payment
              of interest due at the Maturity Date of such Note, will be made in
              funds
              available for immediate use by the Principal Paying Agent and in turn
              by
              the holder of such Note. Registered Notes presented to the Principal
              Paying Agent at the Maturity Date for payment will be cancelled or
              destroyed and delivered to the relevant Issuer with a certificate of
              cancellation or destruction, as applicable. All interest payments on
              a
              Registered Note (other than interest due at the Maturity Date) will
              be
              made by check drawn on the Principal Paying Agent (or another person
              appointed by the Principal Paying Agent) and mailed by the Principal
              Paying Agent to the person entitled thereto as provided in such Note
              and
              the Fiscal Agency Agreement or by wire transfer of immediately available
              funds. Following each Regular Record Date, the Principal Paying Agent
              will
              furnish the relevant Issuer with a list of interest payments to be
              made on
              the following Interest Payment Date for each Registered Note and in
              total
              for all Registered Notes. Interest at the Maturity Date will be payable
              to
              the person to whom the payment of principal is payable. The Principal
              Paying Agent will provide monthly to the relevant Issuer lists of
              principal and

    

     

    A-12

    
      	
            	
            	
            
	
            	  	interest,
              to the extent ascertainable, to be paid on Registered Notes maturing
              or to
              be redeemed in the next month. The Principal Paying Agent will be
              responsible for withholding taxes on interest paid on Registered Notes
              as
              required by applicable law.
	
            	
            
	
            	  	If
              any
              Fixed Interest Payment Date or the Maturity Date of a Fixed Rate
              Registered Note is not a Business Day, the payment due on such day
              shall
              be made on the next succeeding Business Day and no interest shall accrue
              on such payment for the period from and after such Fixed Interest Payment
              Date or Maturity Date, as the case may be. If any Interest Payment
              Date
              (other than the Maturity Date) for any Floating Rate Registered Note
              would
              fall on a day that is not a Business Day with respect to such Note,
              such
              Interest Payment Date will be the following day that is a Business
              Day
              with respect to such Note at which time the Issuer will pay additional
              interest that has accrued up to but excluding such following Business
              Day,
              except that, in the case of a Registered LIBOR Note, if such Business
              Day
              is in the next succeeding calendar month, such Interest Payment Date
              shall
              be the immediately preceding day that is a Business Day with respect
              to
              such Registered LIBOR Note. If the Maturity Date for any Floating Rate
              Registered Note would fall on a day that is not a Business Day with
              respect to such Note, the payment of principal, premium, if any, and
              interest, if any, will be made on the following day that is a Business
              Day
              with respect to such Note, and no interest shall accrue for the period
              from and after such Maturity Date.
	
            	
            
	
              Preparation
                of

              Final
                Terms:

            	  	

If
              any offer to purchase a
              tranche of Notes is accepted by or on behalf of the relevant Issuer,
              and
              the tranche of Notes is to be issued and documented by way of the
              Prospectus, the relevant Issuer and (in the case of Notes issued by
              an
              Issuer other than GE Capital) the Guarantor will prepare the final
              terms
              (the ?Final Terms?) reflecting the terms of such tranche of Note and
              will
              deliver a copy of such Final Terms to the relevant Dealer as such Dealer
              shall request as soon as practicable, but in no event later than 5
              Business Days following the date such offer to purchase Notes is accepted.
              The relevant Dealer will cause such Final Terms together with the
              Prospectus to be delivered to each purchaser of such tranche of Note.
              In
              addition, the relevant Issuer shall forward the Final Terms to the
              Fiscal
              Agent as soon as it becomes available but in no event later than the
              issue
              date.
	
            	
            
	
            	  	In
              each
              instance that Final Terms are prepared, the Dealers receiving such
              Final
              Terms will affix the Final Terms to the Prospectus prior to their use.
              Outdated Final Terms, and the Prospectus to which they are attached
              (other
              than those retained for files), will be
              destroyed.

    

     

    A-13

    
      	
            	
            	
            
	
              Preparation
                of

              Securities
                Note:

            	  	

If
              any offer to purchase a
              tranche of Notes is accepted by or on behalf of the relevant Issuer,
              and
              the tranche of Notes is to be issued by way of the Registration Document
              and documented in a securities note supplemental to the Registration
              Docuement, the relevant Issuer and (in the case of Notes issued by
              an
              Issuer other than GE Capital) the Guarantor will prepare such securities
              note (the ?Securities Note?) reflecting the terms of such tranche of
              Note
              and will deliver a copy of such Securities Note to the relevant Dealer
              as
              such Dealer shall request as soon as practicable, but in no event later
              than 5 Business Days following the date such offer to purchase Notes
              is
              accepted. The relevant Dealer will cause such Securities Note together
              with the Prospectus to be delivered to each purchaser of such tranche
              of
              Note. In addition, the relevant Issuer shall forward the Securities
              Note
              to the Fiscal Agent as soon as it becomes available but in no event
              later
              than the issue date.
	
            	
            
	
            	  	In
              each
              instance that a Securities Note is prepared, the Dealers receiving
              such
              Securities Note will affix the Securities Note to the Registration
              Document prior to their use. Outdated Securities Notes, and the
              Registration Document to which they are attached (other than those
              retained for files), will be destroyed.
	
            	
            
	Settlement:	  	The
              receipt by the relevant Issuer of immediately available funds in exchange
              for (i) in the case of a Global Note issued in CGN form, the delivery
              of
              an authenticated Temporary Global Note to the Common Depositary or
              (ii) in
              the case of a Global Note issued in NGN form, the delivery of an
              authenticated Temporary Global Note to, and which is then effectuated
              by,
              the Common Safekeeper, in each case, in the manner described in
              ?Settlement Procedures; Bearer Notes? below or an authenticated Registered
              Note delivered to the relevant Dealer and such Dealer's delivery of
              such
              Note against receipt of immediately available funds shall constitute
              ?settlement? with respect to such Note. All orders accepted by the
              relevant Issuer will be settled on such date as the relevant Issuer
              and
              the purchaser shall agree upon.
	
            	
            
	
              Settlement
                Procedures;

              Bearer
                Notes:

            	  	

Settlement
              Procedures with
              regard to each Bearer Note sold by each Issuer to or through a Dealer
              shall be as follows:
	
            	
            
	
            	  	
              A.     The
                relevant Dealer will advise the
                relevant Issuer by telephone that such Note is initially a Bearer
                Note and
                of the following settlement information:

            
	
            	
            
	
            	  	
              1.      Principal
                amount.

            

    

     

    A-14

    
      	
            	
            	
            
	
            	  	
              2.      Maturity
                Date.

            
	
            	
            
	
            	  	
              3.      In
                the case of a Fixed Rate
                Bearer Note, the Fixed Interest Rate, the Interest Payment Period,
                the
                Fixed Interest Payment Dates, the Determination Dates, the Interest
                Commencement Date, the Fixed Day Count Fraction, and whether such
                Note is
                an Amortizing Note and, if so, the amortization
                schedule.

            
	
            	
            
	
            	  	
              In
                the case of a Floating Rate Bearer Note, the Initial Interest
                Rate (if known at such time), the Interest Payment Dates, the Interest
                Payment Period, the Calculation Agent, the Base Rate, the Index Maturity,
                the Interest Reset Period, the Interest Determination Date, the Interest
                Reset Dates, the Spread or Spread Multiplier (if any), the Minimum
                Interest Rate (if any), the Maximum Interest Rate (if any), the Alternate
                Rate Event Spread (if any) and the Floating Day Count
                Fraction.

            
	
            	
            
	
            	  	
              4.      Redemption
                or repayment
                provisions, if any.

            
	
            	
            
	
            	  	
              5.      Settlement
                date and
                time.

            
	
            	
            
	
            	  	
              6.      Issue
                Price.

            
	
            	
            
	
            	  	
              7.      Denominations.

            
	
            	
            
	
            	  	
              8.      Specified
                Currency.

            
	
            	
            
	
            	  	
              9.      Ranking.

            
	
            	
            
	
            	  	
              10.    Dealer's
                commission, if any, determined
                as provided in the Distribution Agreement.

            
	
            	
            
	
            	  	
              11.    Dealer's
                account number at Clearstream
                or the Euroclear Operator.

            
	
            	
            
	
            	  	
              12.    Whether
                the Global Note constituting the
                Notes will be issued in CGN form or NGN form.

            
	
            	
            
	
            	  	
              13.    Whether
                the Note is an Indexed Note, and
                if it is an Indexed Note, the Indexed Currency, the Currency Base
                Rate and
                the Determination Agent.

            

    

     

    A-15

    
      	
            	
            	
            
	
            	  	
              14.    Whether
                the Note is a Dual Currency
                Note, and if it is a Dual Currency Note, the Face Amount Currency,
                the
                Optional Payment Currency, the Designated Exchange Rate, the Option
                Election Dates and the Option Value Calculation Agent.

            
	
            	
            
	
            	  	
              15.    Whether
                the Note is an Extendible Note,
                and if it is an Extendible Note, the Initial Maturity Date, the Election
                Date and the Final Maturity Date.

            
	
            	
            
	
            	  	
              16.    If
                applicable, wire transfer instructions including name of banking
                institution where transfer is to be made and account
                number.

            
	
            	
            
	
            	  	
              17.    Whether
                such Note is to be listed on the
                Official List of the UK Listing Authority (the ?UKLA?) and admitted
                to
                trading by the London Stock Exchange, the Singapore Exchange Securities
                Trading Limited or on or by any other stock exchange, competent authority
                and/or market.

            
	
            	
            
	
            	  	
              18.    Any
                other applicable terms.

            
	
            	
            
	
            	  	
              B.     The
                relevant Issuer will advise the
                Fiscal Agent by telephone or electronic transmission confirmed in
                writing
                at any time on the sale date of the information set forth in Settlement
                Procedure A above. The relevant Issuer will also give the Fiscal
                Agent
                written instructions regarding the transfer of funds. The relevant
                Issuer
                will send a copy of such instructions to the relevant Dealer or
                Dealers.

            
	
            	
            
	
            	  	
              The
                Fiscal Agent shall telephone each of Euroclear or Clearstream,
                Luxembourg with a request for a security code for each tranche agreed
                to
                be issued, which security code or codes will be notified by the Fiscal
                Agent to the relevant Issuer and the relevant Dealer or
                Dealers.

            
	
            	
            
	
            	  	
              The
                relevant Issuer and (in the case of Notes issued by an Issuer
                other than GE Capital) the Guarantor shall prepare and cause to be
                delivered to the Fiscal Agent either (i) the applicable Final Terms
                supplemental to the Prospectus or (ii) the Securities Note
                supplemental to the Registration Document (as the case may be) describing
                the terms of the particular tranche of Notes.

            
	
            	
            
	
            	  	
              C.     In
                accordance with the written
                instructions and the applicable Final Terms or Securities Note (as
                the
                case may be), the Fiscal Agent
                shall:

            

    

     

    A-16

    
      	
            	
            	
            
	
            	  	
              (i)
                with respect to Global Notes in CGN form, prepare and
                authenticate a Temporary Global Note for each tranche which the relevant
                Issuer has agreed to sell, the settlement for which tranche is to
                occur on
                the settlement date. The Temporary Global Note will then be delivered
                to
                the Common Depositary. The Fiscal Agent will also give instructions
                to
                Euroclear or Clearstream, Luxembourg to credit the Notes represented
                by
                such Temporary Global Notes delivered to such Common Depositary to
                the
                Fiscal Agent's distribution account at Euroclear or Clearstream,
                Luxembourg, as the case may be; or

            
	
            	
            
	
            	  	
              (ii)
                with respect to Global Notes in NGN form, prepare and
                authenticate a Temporary Global Note for each tranche which the relevant
                Issuer has agreed to sell, the settlement for which tranche is to
                occur on
                the settlement date. The Temporary Global Note will then be delivered
                to
                the specified Common Safekeeper and, in the case of an NGN which
                is a
                Eurosystem eligible NGN, the Fiscal Agent will instruct the Common
                Safekeeper to effectuate the same. The Fiscal Agent will also give
                instructions to Euroclear or Clearstream, Luxembourg to make the
                appropriate entries in their records to reflect the initial outstanding
                aggregate principal amount of the relevant tranche of Notes and to
                credit
                the Notes represented by such Temporary Global Note delivered to
                such
                Common Safekeeper to the Fiscal Agent's distribution account at Euroclear
                or Clearstream, Luxembourg, as the case may be.

            
	
            	
            
	
            	  	
              In
                each case, the Fiscal Agent will instruct Euroclear or
                Clearstream, Luxembourg to debit, on the settlement date, from the
                distribution account of the Fiscal Agent the number of Notes of each
                Tranche with respect to which the relevant Dealer has solicited an
                offer
                to purchase and to credit, on the settlement date, such Notes to
                the
                account of such Dealer with Euroclear or Clearstream, Luxembourg
                against
                payment of the issue price of such Notes. Each relevant Dealer shall
                give
                corresponding instructions to Euroclear or Clearstream,
                Luxembourg.

            
	
            	
            
	
            	  	
              D.     Euroclear
                and Clearstream,
                Luxembourg shall debit and credit accounts in accordance with instructions
                received by them. The Fiscal Agent shall pay the relevant Issuer
                the
                aggregate net proceeds received by it in immediately available funds
                via a
                transfer of funds to the account of the relevant Issuer with a bank
                selected by such Issuer notified to the Fiscal Agent from time to
                time in
                writing.

            

    

     

    A-17

    
      	
            	
            	
            
	Settlement
              Procedures Timetable; Bearer Notes:	  	For
              sales by each Issuer of Bearer Notes to or through a Dealer, Bearer
              Settlement Procedures ?A? through ?D? above shall be completed on or
              before the respective times set forth below:
	
            	
            
	
            	  	Settlement
              Procedure
	
            	  	Bearer
              Notes Time
	
            	
            
	
            	  	
              A      12:00
                P.M. (NYC time) three
                days before settlement date

            
	
            	
            
	
            	  	
              B      9:00
                A.M. (London time) two
                days before settlement date

            
	
            	
            
	
            	  	
              C      3:45
                P.M. (London time) on day
                before settlement date

            
	
            	
            
	
            	  	
              D      5:00
                P.M. (NYC time) on
                settlement date

            
	
            	
            
	
              Settlement
                Procedures;

              Registered
                Notes:

            	  	

Settlement
              Procedures with
              regard to each Registered Note sold by each Issuer to or through a
              Dealer
              shall be as follows:
	
            	
            
	
            	  	
              AA. The
                relevant Dealer
                will advise the relevant Issuer by telephone that such Note is a
                Registered Note and of the following settlement
                information:

            
	
            	
            
	
            	  	
              1.      Name
                in which such Note is to
                be registered (?Registered Owner?).

            
	
            	
            
	
            	  	
              2.      Address
                of the Registered
                Owner and address for payment of principal and
                interest.

            
	
            	
            
	
            	  	
              3.      Taxpayer
                identification
                number of the Registered Owner (if available); the Dealer shall request
                that the purchasers of the Notes prepare a Form W-8BEN or other applicable
                form required by the United States Internal Revenue Code of 1986,
                as
                amended (the ?Code?) and cause such form to be delivered to the Fiscal
                and
                Paying Agent on or prior to the settlement date.

            
	
            	
            
	
            	  	
              4.      Principal
                amount.

            
	
            	
            
	
            	  	
              5.      Maturity
                Date.

            
	
            	
            
	
            	  	
              6.      In
                the case of a Fixed Rate
                Registered Note, the Fixed Interest Rate, the Interest Payment Period,
                the
                Fixed Interest Payment Dates, the

            

    

     

    A-18

    
      	
            	
            	
            
	
            	  	
              Determination
                Dates, the Interest Commencement Date, the Fixed Day
                Count Fraction, and whether such Note is an Amortizing Note and,
                if so,
                the amortization schedule.

            
	
            	
            
	
            	  	
              In
                the case of a Floating Rate Registered Note, the Initial
                Interest Rate (if known at such time), the Interest Payment Dates,
                the
                Interest Payment Period, the Calculation Agent, the Base Rate, the
                Index
                Maturity, the Interest Reset Period, the Interest Determination Date,
                the
                Interest Reset Dates, the Spread or Spread Multiplier (if any), the
                Minimum Interest Rate (if any), the Maximum Interest Rate (if any),
                the
                Alternate Rate Event Spread (if any), the Floating Day Count Fraction
                and
                the Regular Record Dates.

            
	
            	
            
	
            	  	
              7.      Redemption
                or repayment
                provisions, if any.

            
	
            	
            
	
            	  	
              8.      Settlement
                date and
                time.

            
	
            	
            
	
            	  	
              9.      Issue
                Price.

            
	
            	
            
	
            	  	
              10.    Denominations.

            
	
            	
            
	
            	  	
              11.    Specified
                Currency.

            
	
            	
            
	
            	  	
              12.    Ranking.

            
	
            	
            
	
            	  	
              13.    Dealer's
                commission, if any, determined
                as provided in the Distribution Agreement.

            
	
            	
            
	
            	  	
              14.    Whether
                the Note is issued with more
                than a de minimis amount of discount.

            
	
            	
            
	
            	  	
              15.    Whether
                the Note is an Indexed Note, and
                if it is an Indexed Note, the Indexed Currency, the Currency Base
                Rate and
                the Determination Agent.

            
	
            	
            
	
            	  	
              16.    Whether
                the Note is a Dual Currency
                Note, and if it is a Dual Currency Note, the Face Amount Currency,
                the
                Optional Payment Currency, the Designated Exchange Rate, the Option
                Election Dates and the Option Value Calculation
                Agent.

            

    

     

    A-19

    
      	
            	
            	
            
	
            	  	
              17.    Whether
                the Note is an Extendible Note,
                and if it is an Extendible Note, the Initial Maturity Date, the Election
                Date and the Final Maturity Date.

            
	
            	
            
	
            	  	
              18.    If
                applicable, wire transfer instructions, including name of banking
                institution where transfer is to be made and account
                number.

            
	
            	
            
	
            	  	
              19.    Whether
                such Note is to be listed on the
                Official List of the UKLA and admitted to trading by the London Stock
                Exchange, the Singapore Exchange Securities Trading Limited or on
                or by
                any other stock exchange, competent authority and/or
                market.

            
	
            	
            
	
            	  	
              20.    Any
                other applicable terms.

            
	
            	
            
	
            	  	
              BB.  The
                relevant
                Issuer will advise the Fiscal Agent by telephone or electronic
                transmission (confirmed in writing at any time on the sale date)
                of the
                information set forth in Settlement Procedure ?AA?
                above.

            
	
            	
            
	
            	  	
              CC.  The
                relevant
                Issuer will have delivered to the Authenticating Agent an executed
                Note.
                The Authenticating Agent will complete such Note and authenticate
                such
                Note and deliver it through the Fiscal Agent (with the confirmation)
                to
                the relevant Dealer, and such Dealer will acknowledge receipt of
                the Note.
                Such delivery will be made only against such acknowledgment of receipt
                and
                evidence that instructions have been given by such Dealer for payment
                to
                the account of the relevant Issuer, in funds available for immediate
                use,
                of an amount equal to the price of such Note less such Dealer's
                commission, if any; provided however, the relevant Issuer and the
                Fiscal
                Agent may agree on different delivery procedures for definitive Registered
                Notes denominated in Specified Currencies other than U.S. dollars.
                In the
                event that the instructions given by such Agent for payment to the
                account
                of such Issuer are revoked, such Issuer will as promptly as possible
                wire
                transfer to the account of such Dealer an amount of immediately available
                funds equal to the amount of such payment made.

            
	
            	
            
	
            	  	
              The
                Principal Paying Agent shall pay the relevant Issuer the
                aggregate net proceeds received by it in immediately available funds
                via a
                transfer of funds to the account of the relevant Issuer maintained
                at a
                bank selected by such Issuer notified to the Principal Paying Agent
                from
                time to time in writing.

            

    

     

    A-20

    
      	
            	
            	
            
	
            	  	
              DD.      Unless
                the relevant Dealer
                purchased such Note for its own account, such Dealer will deliver
                such
                Note (with confirmation) to the customer against payment in immediately
                payable funds. Such Dealer will obtain the acknowledgment of receipt
                of
                such Note. If the relevant Dealer purchased such Note for its own
                account,
                such Dealer will accept delivery of such Note against payment in
                immediately available funds, and will deliver an acknowledgement
                of
                receipt of such Note.

            
	
            	
            
	
            	  	
              EE.       Periodically,
                the
                Fiscal Agent will send to the relevant Issuer a statement setting
                forth
                the principal amount of the Registered Notes outstanding as of that
                date
                under the Fiscal Agency Agreement and setting forth a brief description
                of
                any sales of which such Issuer has advised the Fiscal Agent but which
                have
                not yet been settled.

            
	
            	
            
	
              Settlement
                Procedures

              Timetable;
                Registered

              Notes:

            	  	

For
              sales by the relevant Issuer of Registered Notes to or through
              a Dealer, Registered Settlement Procedures ?AA? through ?DD? set forth
              above shall be completed on or before the respective times (London
              Time)
              set forth below:
	
            	
            
	
            	  	
              Settlement

              Procedure;

              Registered

            
	
            	  	
              Notes     Time

            
	
            	
            
	
            	  	
              AA         2:00
                P.M.
                on day before settlement date

            
	
            	
            
	
            	  	
              BB          3:00
                P.M. on day before settlement date

            
	
            	
            
	
            	  	
              CC          2:15
                P.M. on settlement date

            
	
            	
            
	
            	  	
              DD         3:00
                P.M.
                on settlement date

            
	
            	
            
	Failure
              to Settle:	  	Bearer
              Notes. If any Dealer shall have advanced its own funds for payment
              against subsequent receipt of funds from the purchaser and if a purchaser
              shall fail to make payment for a Note, such Dealer will promptly notify
              the relevant Issuer, the Fiscal Agent, the Principal Paying Agent,
              the
              Common Depositary or Common Service Provider appointed by the relevant
              Issuer and Common Safekeeper (as the case may be) and Euroclear and
              Clearstream, Luxembourg by telephone, promptly confirmed in writing
              (but
              no later than the next Business Day). In such event, the relevant Issuer
              shall promptly instruct the

    

     

    A-21

    
      	
            	
            	
            
	
            	  	Fiscal
              Agent to cancel the purchaser's interest in the appropriate Temporary
              Global Note representing such Note. Upon (i) confirmation from the
              Fiscal
              Agent in writing (which may be given by facsimile) that the Fiscal
              Agent
              has cancelled such purchaser's interest in such Temporary Global Note
              and
              (ii) confirmation from such Dealer in writing (which may be given by
              facsimile) that such Dealer has not received payment from the purchaser,
              the relevant Issuer will promptly pay to such Dealer an amount in
              immediately available funds equal to the amount previously paid by
              such
              Dealer in respect of such Bearer Note. Such payment will be made on
              the
              settlement date, if possible, and in any event not later than 12:00
              noon
              (New York City time) on the Business Day following the settlement date.
              The Fiscal Agent and the Common Depositary will make or cause to be
              made
              such revisions to such Temporary Global Note (if the Temporary Global
              Note
              is a CGN) or the Fiscal Agent will instruct Euroclear and Clearstream,
              Luxembourg to make the appropriate entries in their records in each
              case
              (if the Temporary Global Note is a NGN) as are necessary to reflect
              the
              cancellation of such portion of such Temporary Global Note.
	
            	
            
	
            	  	If
              a
              purchaser shall fail to make payment for the Note for any reason other
              than the failure of such Dealer to provide the necessary information
              to
              the relevant Issuer as described above for settlement or to provide
              a
              confirmation to the purchaser within a reasonable period of time as
              described above, and if such Dealer shall have otherwise complied with
              its
              obligations hereunder and in the Distribution Agreement, the relevant
              Issuer will reimburse such Dealer on an equitable basis for such Dealer's
              loss of the use of funds during the period when they were credited
              to
              account of such Issuer or the Fiscal Agent.
	
            	
            
	
            	  	Immediately
              upon such cancellation, the Fiscal Agent will make
              appropriate entries in its records to reflect the fact that a settlement
              did not occur with respect to such Note.
	
            	
            
	
            	  	Registered
              Notes. If a purchaser fails to accept delivery of
              and make payment for any Registered Note, the relevant Dealer will
              notify
              the relevant Issuer and the Fiscal Agent by telephone and return such
              Note
              to the Fiscal Agent. Upon receipt of such notice, the relevant Issuer
              will
              immediately wire transfer to the account of such Dealer an amount equal
              to
              the amount previously credited thereto in respect of such Note. Such
              wire
              transfer will be made on the settlement date, if possible, and in any
              event not later than the Business Day following the settlement date.
              If a
              purchaser shall fail to make payment for the Note for any reason other
              than the failure of such Dealer to provide the necessary information
              to
              the relevant Issuer as described above
              for

    

     

    A-22

    
      	
            	
            	
            
	
            	  	settlement
              or to provide a confirmation to the purchaser within a
              reasonable period of time as described above, and if such Dealer shall
              have otherwise complied with its obligations hereunder and in the
              Distribution Agreement, then the relevant Issuer will reimburse such
              Dealer or the Principal Paying Agent, as appropriate, on an equitable
              basis for its loss of the use of the funds during the period when they
              were credited to the account of such Issuer. Immediately upon receipt
              of
              the Registered Note in respect of which such failure occurred, the
              Principal Paying Agent will mark such Note ?cancelled?, make appropriate
              entries in the Principal Paying Agent's records and send such Note
              to the
              relevant Issuer.
	
            	
            
	
              Notice
                of Issuance
                to

              London
                Stock

              Exchange:

            	  	The
              Fiscal Agent will provide information with respect to each tranche
              of
              Notes to be listed on the Official List of UKLA and admitted to trading
              by
              the London Stock Exchange to such Exchange and will advise the relevant
              Issuer and the relevant Dealer in writing as to the effectiveness of
              the
              listing of such Notes by the close of business on the related settlement
              date. To the extent required by the UKLA and/or London Stock Exchange,
              the
              Dealers will provide the Fiscal Agent with secondary market information
              regarding any tranche of Notes listed on the London Stock Exchange
              and the
              Fiscal Agent will provide such information to the UKLA and the London
              Stock Exchange.
	
            	
            
	
              Notice
                of Issuance
                to

              Any
                other stock

              exchange,
                competent

              Authority:

            	  	The
              Fiscal Agent will provide information with respect to each tranche
              of
              Notes to be listed or admitted to trading on any stock exchange, competent
              authority and/or market to such stock exchange, competent authority
              and/or
              market and will advise the relevant Issuer and the relevant Dealer
              in
              writing as to the effectiveness of the listing and or admission to
              trading
              of such Notes by the close of business on the related settlement
              date.
	
            	
            
	Listing:	  	The
              Fiscal Agent will, on a regular basis and as applicable, provide the
              UKLA
              and the London Stock Exchange and/or any other stock exchange, competent
              authority and/or market with such information as the UKLA and the London
              Stock Exchange or any other stock exchange, competent authority and/or
              market may require regarding any tranches of Notes that are listed
              on the
              Official List of the UKLA and admitted to trading on the London Stock
              Exchange or listed or admitted to trading on any other stock exchange,
              competent authority and/or market and are issued and
              outstanding.

    

     

    A-23

    EXHIBIT
      B-1

    [FORM
      OF CERTIFICATE TO BE
      GIVEN BY AN ACCOUNT 

    HOLDER
      OF EUROCLEAR,
      CLEARSTREAM, LUXEMBOURG] 

    CERTIFICATE
      

    [General
      Electric Capital
      Corporation] 

    [GE
      Capital Australia
      Funding Pty. Ltd. (A.B.N. 67 085 675 467)] 

    [GE
      Capital Canada Funding
      Company] 

    [GE
      Capital European
      Funding] 

    [GE
      Capital UK Funding]

    Euro
      Medium-Term Notes or
      Other Debt Securities 

    [Unconditionally
      Guaranteed
      by 

    General
      Electric Capital
      Corporation] 

    Represented
      by Temporary
      Global Note No.     . 

    This
      is to certify that as of the
      date hereof, and except as set forth below, the above-captioned Notes held
      by
      you for our account [(A) are beneficially owned by persons that are not
      residents of Canada, except residents of Canada to whom the principal amount
      of
      Notes so beneficially owned has been sold and who acquired the same in
      compliance with the securities laws of Canada or of the applicable province
      or
      territory thereof; and (B)] (i) are owned by person(s) that are not
      citizens or residents of the United States, corporations, partnerships or other
      entities created or organized in or under the laws of the United States or
      any
      political subdivision thereof, estates whose income is subject to United States
      federal income tax regardless of its source, or trusts if a court within the
      United States is able to exercise primary supervision over the administration
      of
      the trust and one or more United States persons have the authority to control
      all substantial decisions of the trust or if such trust has a valid election
      in
      effect under applicable U.S. Treasury regulations to be treated as a United
      States person ("United States person(s)"), (ii) are owned by United States
      person(s) that (a) are foreign branches of United States financial
      institutions (as defined in U.S. Treasury Regulations
      Section 1.165-12(c)(1)(iv)) ("financial institutions") purchasing for their
      own account or for resale, or (b) acquired the Notes through foreign
      branches of United States financial institutions and who hold the Notes through
      such United States financial institutions on the date hereof (and in either
      case
      (a) or (b), each such United States financial institution hereby agrees, on
      its own behalf or through its agent, that you may advise the Issuer or the
      Issuer's agent that it will comply with the requirements of
      Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of
      1986, as amended, and the regulations thereunder), or (iii) are owned by
      United States or foreign financial institution(s) for purposes of resale during
      the restricted period (as defined in U.S. Treasury Regulations
      Section 1.163-5(c)(2)(i)(D)(7)), and in addition if the owner of the Notes
      is a United States or foreign financial institution described in clause
      (iii) above (whether or not also described in clause (i) or (ii)) such
      financial institution has not acquired the Notes for purposes of resale directly
      or indirectly to a United States person or to a person within the United States
      or its possessions. 

     

    B-1-1

    As
      used herein, "United States"
      means the United States of America (including the States and the District of
      Columbia) and its "possessions" include Puerto Rico, the U.S. Virgin Islands,
      Guam, American Samoa, Wake Island and the Northern Mariana Islands.

    We
      undertake to advise you promptly
      by tested telex on or prior to the date on which you intend to submit your
      certification relating to the Notes held by you for our account in accordance
      with your Operating Procedures if any applicable statement herein is not correct
      on such date, and in the absence of any such notification it may be assumed
      that
      this certification applies as of such date. 

    This
      certification excepts and does
      not relate to
      $             of
      such interest in the above Notes in respect of which we are not able to certify
      and as to which we understand exchange and delivery of definitive Notes (or,
      if
      relevant, exercise of any rights or collection of any interest) cannot be made
      until we do so certify. 

    We
      understand that this
      certification is required in connection with [certain securities laws of Canada
      and] certain tax laws and, if applicable, certain securities laws of the United
      States. In connection therewith, if administrative or legal proceedings are
      commenced or threatened in connection with which this certification is or would
      be relevant, we irrevocably authorize you to produce this certification to
      any
      interested party in such proceedings. 

    Dated:
                                  

    [To
      be dated no earlier than the
      10th day before 

    [insert
      date of Interest Payment
      Date prior to Exchange Date] 

    [insert
      date of redemption or
      acceleration prior to Exchange Date] 

    [insert
      Exchange Date]]

     

    
      	
            	
            	
            
	[Name
              of Account Holder]
	
            	
            
	By:	 	
               

            
	
            	 	(Authorized
              Signatory)
	Name:	 	
            
	Title:	 	
            

    

     

    A-2

    EXHIBIT
      B-2

    [FORM
      OF CERTIFICATE TO BE
      GIVEN BY 

    EUROCLEAR,
      CLEARSTREAM,
      LUXEMBOURG] 

    CERTIFICATE
      

    [General
      Electric Capital
      Corporation] 

    [GE
      Capital Australia
      Funding Pty. Ltd. (A.B.N. 67 085 675 467)] 

    [GE
      Capital Canada Funding
      Company] 

    [GE
      Capital European
      Funding] 

    [GE
      Capital UK Funding]

    Euro
      Medium-Term Notes or
      Other Debt Securities 

    [Unconditionally
      Guaranteed
      by 

    General
      Electric Capital
      Corporation] 

    Represented
      by Temporary
      Global Note No.     . 

    This
      is to certify that, based
      solely on certifications we have received in writing, by tested telex or by
      electronic transmission from member organizations appearing in our records
      as
      persons being entitled to a portion of the principal amount set forth below
      (our
      "Member Organizations") substantially to the effect set forth in Exhibit B-1
      to
      the Eighth Amended and Restated Fiscal and Paying Agency Agreement, as of the
      date hereof,
            
      principal amount of the above-captioned Notes [(A) is beneficially owned by
      persons that are not residents of Canada, except residents of Canada to whom
      the
      principal amount of Notes so beneficially owned has been sold and who acquired
      the same in compliance with the securities laws of Canada or of the applicable
      province or territory thereof; and (B)](i) is owned by persons that are not
      citizens or residents of the United States, corporations, partnerships or other
      entities created or organized in or under the laws of the United States or
      any
      political subdivision thereof, estates whose income is subject to United States
      federal income tax regardless of its source, or trusts if a court within the
      United States is able to exercise primary supervision over the administration
      of
      the trust and one or more United States persons have the authority to control
      all substantial decisions of the trust or if such trust has a valid election
      in
      effect under applicable U.S. Treasury regulations to be treated as a United
      States person ("United States persons"), (ii) is owned by United States
      persons that (a) are foreign branches of United States financial
      institutions (as defined in U.S. Treasury Regulations
      Section 1.165-12(c)(1)(iv) ("financial institutions") purchasing for their
      own account or for resale, or (b) acquired the Notes through foreign
      branches of United States financial institutions and who hold the Notes through
      such United States financial institutions on the date hereof (and in either
      case
      (a) or (b), each such United States financial institution has agreed, on
      its own behalf or through its agent, that we may advise the Issuer or the
      Issuer's agent that it will comply with the requirements of
      Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of
      1986, as amended, and the regulations thereunder), or (iii) is owned by
      United States or foreign financial institutions for purposes of resale during
      the restricted period (as defined in U.S. Treasury Regulations
      Section 1.163-5(c)(2)(i)(D)(7), and to the further effect that United
      States or foreign financial institutions described in clause (iii) above
      (whether or not also described in 

     

    B-2-1

    clause
      (i) or (ii)) have
      certified that they have not acquired the Notes for purposes of resale directly
      or indirectly to a United States person or to a person within the United States
      or its possessions. As used herein, "United States" means the United States
      of
      America (including the States and the District of Columbia) and its
      "possessions" include Puerto Rico, the U.S. Virgin Islands, Guam, American
      Samoa, Wake Island and the Northern Mariana Islands. 

    We
      further certify (i) that we
      are not making available herewith for exchange any portion of the temporary
      global Note excepted as set forth herein and (ii) that as of the date
      hereof we have not received any notification from any of our Member
      Organizations to the effect that the statements made by such Member
      Organizations with respect to any portion of the part submitted herewith are
      no
      longer true and cannot be relied upon as the date hereof. 

    We
      understand that this
      certification is required in connection with [certain securities laws of Canada
      and] certain tax laws and, if applicable, certain securities laws of the United
      States. In connection therewith, if administrative or legal proceedings are
      commenced or threatened in connection with which this certification is or would
      be relevant, we irrevocably authorize you to produce this certification to
      any
      interested party in such proceedings. 

    Dated:
                                  

    [To
      be dated no earlier than

    [insert
      date of Interest Payment
      Date prior to Exchange Date] 

    [insert
      date of redemption or
      acceleration prior to Exchange Date] 

    [insert
      Exchange Date]]

     

    
      	
            	
            	
            
	[EUROCLEAR
              BANK S.A./N.V.
	        as
              Operator
              of the Euroclear System]
	
            
	[CLEARSTREAM
              BANKING, soci?t?
              anonyme]
	
            
	[OTHER
              CLEARANCE SYSTEM]
	
            	
            
	
              By:

            	 	
               

            

    

     

    D-1-1

    EXHIBIT
      C-1-1

    [FORM
      OF CERTIFICATE TO BE
      GIVEN BY AN ACCOUNT 

    HOLDER
      OF EUROCLEAR AND
      CLEARSTREAM, LUXEMBOURG] 

    CERTIFICATE
      

    [General
      Electric Capital
      Corporation] 

    [GE
      Capital Australia
      Funding Pty. Ltd. (A.B.N. 67 085 675 467)] 

    [GE
      Capital Canada Funding
      Company] 

    [GE
      Capital European
      Funding] 

    [GE
      Capital UK Funding]

    Euro
      Medium-Term Notes or
      Other Debt Securities 

    [Unconditionally
      guaranteed
      by 

    General
      Electric Capital
      Corporation] 

    Represented
      by Permanent
      Global Note No.     . 

    This
      is to certify that as of the
      date hereof, and except as set forth below, the above-captioned Notes held
      by
      you for our account (i) are owned by person(s) requesting definitive
      [Registered/Bearer] Notes in exchange for their interests in the
      above-referenced permanent Global Note and (ii) such persons desire to
      exchange
            
      principal amount of the above-captioned Notes for definitive [Registered/Bearer]
      Notes. 

    We
      undertake to advise you promptly
      by tested telex on or prior to the date on which you intend to submit your
      certification relating to the Notes held by you for our account in accordance
      with your Operating Procedures if any applicable statement herein is not correct
      on such date, and in the absence of any such notification it may be assumed
      that
      this certification applies as of such date. 

    This
      certification excepts and does
      not relate to
      $             of
      such interest in the above Notes in respect of which we do not desire to
      exchange for definitive Notes. 

    Dated:
                                  

     

    
      	
            	
            	
            
	[Name
              of Account Holder]
	
            	
            
	
              By:

            	 	
               

            
	
            	 	
              Name:

            
	
            	 	
              Title:

            

    

     

    C-1-1

    EXHIBIT
      C-2

    [FORM
      OF CERTIFICATE TO BE
      GIVEN BY 

    EUROCLEAR
      AND CLEARSTREAM,
      LUXEMBOURG] 

    CERTIFICATE
      

    [General
      Electric Capital
      Corporation] 

    [GE
      Capital Australia
      Funding Pty. Ltd. (A.B.N. 67 085 675 467)] 

    [GE
      Capital Canada Funding
      Company] 

    [GE
      Capital European
      Funding] 

    [GE
      Capital UK Funding]

    Euro
      Medium-Term Notes or
      Other Debt Securities 

    [Unconditionally
      Guaranteed
      by 

    General
      Electric Capital
      Corporation] 

    Represented
      by Permanent
      Global Note No.     . 

    This
      is to certify that, based
      solely on certifications we have received in writing, by tested telex or by
      electronic transmission from member organizations appearing in our records
      as
      persons being entitled to a portion of the principal amount set forth below
      (our
      "Member Organizations") substantially to the effect set forth in Exhibit C-1
      to
      the Eighth Amended and Restated Fiscal and Paying Agency Agreement relating
      to
      such Notes, as of the date hereof,
            
      principal amount of the above-captioned Notes (i) is owned by person(s)
      requesting definitive [Registered/Bearer] Notes in exchange for their interests
      in the above-referenced permanent Global Note and (ii) such persons desire
      to exchange
            
      principal amount of the above-captioned Notes for definitive [Registered/Bearer]
      Notes. 

    We
      further certify (i) that we
      are making available herewith for exchange all interests in the permanent global
      Note and (ii) that as of the date hereof we have not received any
      notification from any of our Member Organizations to the effect that the
      statements made by such Member Organizations with respect to any portion of
      the
      permanent global Note submitted herewith are no longer true and cannot be relied
      upon as the date hereof. 

    Dated:
                                  

     

    
      	
            
	[EUROCLEAR
              BANK S.A./N.V.
	as
              Operator of the Euroclear System]
	
            
	[CLEARSTREAM
              BANKING, soci?t?
              anonyme]
	
            
	[OTHER
              CLEARANCE
              SYSTEM]

    

     

    C-2-1

    EXHIBIT
      D-1

    [FORM
      OF GUARANTEE TO BE
      ENDORSED ON NOTES] 

    1.
FOR
      VALUE RECEIVED,
      GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (the ?Guarantor?),
      hereby unconditionally and irrevocably guarantees to the holder of the Note
      upon
      which this guarantee is endorsed the due and punctual payment of any and all
      amounts required to be paid upon said Note according to its terms, when, where
      and as the same shall become due and payable, whether on an interest payment
      date, at maturity, upon redemption or purchase or otherwise, in accordance
      with
      the terms thereof. Terms and expressions defined in the Eighth Amended and
      Restated Fiscal and Paying Agency Agreement dated as of May 12, 2006, as it
      may be further amended or supplemented from time to time, among General Electric
      Capital Corporation, GE Capital Australia Funding Pty. Ltd., GE Capital Canada
      Funding Company, GE Capital European Funding, GE Capital UK Funding, JPMorgan
      Chase Bank, N.A. and J.P. Morgan Bank Luxembourg S.A. (the ?Fiscal Agency
      Agreement?), and the Notes shall have the same meanings herein, except as
      otherwise defined herein or unless there is something in the subject matter
      or
      context inconsistent therewith. 

    2.(a)
      In case of failure by [GE
      Capital Australia Funding Pty. Ltd.] [GE Capital Canada Funding Company] [GE
      Capital European Funding] [GE Capital UK Funding] [Name of Additional Issuer
      acceding to the Fiscal Agency Agreement pursuant to Section 19 thereof] or
      its successors or assigns (the ?Issuer?) punctually to pay any such amount,
      the
      Guarantor hereby agrees to cause such payment to be made punctually when, where
      and as the same shall become due and payable, whether at maturity, upon
      redemption or otherwise, and as if such payment were made by the Issuer. The
      Guarantor hereby agrees that its obligations hereunder shall be unconditional,
      irrespective of the validity, legality or enforceability of the Note, the
      absence of any action to enforce the same, the waiver or consent by the holder
      of the Note with respect to any provisions thereof, the recovery of any judgment
      against the Issuer or any action to enforce the same or any other circumstance
      which might otherwise constitute a legal or equitable discharge or defense
      of a
      guarantor. 

    (b)
      The Guarantor shall be
      subrogated to all rights of the holder of the Note against the Issuer in respect
      of any amounts paid by the Guarantor pursuant to the provisions of this
      Guarantee; provided that the Guarantor shall not be entitled to enforce or
      receive any payment arising out of, or based upon, such right of subrogation
      until all amounts due on or to become due on or in respect of all of the Notes
      shall have been paid in full or duly provided for. 

    (c)
      The Guarantor hereby waives
      notice of acceptance of this Guarantee and also waives notice of nonpayment
      of
      any and all amounts payable or in respect of said Note or any part thereof.
      

    (d)
      This Guarantee is unsecured and
      ranks equally with all other unsecured and unsubordinated obligations of the
      Guarantor. 

    3.(a)
      The Guarantor will not merge
      or consolidate with any other corporation or sell, convey, transfer or otherwise
      dispose of all or substantially all of its properties to any other corporation,
      unless (i) either the Guarantor shall be the continuing corporation or the

     

    D-1-1

    successor
      corporation (if other than
      the Guarantor) (the ?successor corporation?) shall be a corporation organized
      under the laws of the United States of America or of a state thereof and such
      successor corporation shall expressly assume the due and punctual payments
      of
      all amounts due under this Guarantee and the due and punctual performance of
      all
      of the covenants and obligations of the Guarantor under this Guarantee endorsed
      on all the Notes, by supplemental agreement satisfactory to the Fiscal and
      Paying Agent executed and delivered to such Fiscal and Paying Agent by the
      successor corporation and the Guarantor and (ii) the Guarantor or such
      successor corporation, as the case may be, shall not, immediately after such
      merger or consolidation, or such sale, conveyance, transfer or other
      disposition, be in default in the performance of any such covenant or
      obligation. 

    (b)
      Upon any such merger or
      consolidation, sale, conveyance, transfer or other disposition, such successor
      corporation shall succeed to and be substituted for, and may exercise every
      right and power of and shall be subject to all the obligations of, the Guarantor
      under this Guarantee, with the same effect as if such successor corporation
      had
      been named as the Guarantor herein, and the Guarantor shall be released from
      its
      liability as Guarantor under this Guarantee and under the Fiscal Agency
      Agreement. 

    4.
      The Guarantor hereby certifies
      and warrants that all acts, conditions and things required to be done and
      performed and to have happened precedent to the creation and issuance of this
      Guarantee, and to constitute the same the legal, valid and binding obligation
      of
      the Guarantor enforceable in accordance with its terms, except that enforcement
      may be limited by bankruptcy, insolvency, liquidation, reorganization and other
      laws of general application relating to or affecting the rights of creditors
      or
      by general principles of equity, including the limitation that specific
      performance, being an equitable remedy, is discretionary and may not be ordered,
      have been done and performed and have happened in due and strict compliance
      with
      all applicable laws. 

    5.
      This Guarantee shall be construed
      in accordance with and governed by the laws of the State of New York, United
      States of America. 

    6.
      This Guarantee is dated the date
      of the Note upon which it is endorsed. 

    IN
      WITNESS WHEREOF, the Guarantor
      has caused this Guarantee to be duly executed. 

     

    
      	
            	
            	
            
	GENERAL
              ELECTRIC CAPITAL
	CORPORATION
	
            	
            
	
              By:

            	 	
               

            

    

     

    D-1-2

    EXHIBIT
      E

    [FORM
      OF ISSUER ACCESSION
      LETTER] 

    ISSUER
      ACCESSION LETTER

    [DATE]

    GENERAL
      ELECTRIC CAPITAL CORPORATION

    260
      Long Ridge Road 

    Stamford,
      CT 06927 

    Attention:
      Senior Vice President -
      Corporate Treasury 

                      
      and Global Funding Operation 

    [Name
      of Additional Issuer]

    [Address]

    Attention:
                                              
    

    JPMORGAN
      CHASE BANK, N.A.

    Trinity
      Tower 

    9
      Thomas More Street 

    London
      E1W 1YT 

    United
      Kingdom 

    Attention:
      Manager, Institutional
      Trust Services 

    Ladies
      and Gentlemen: 

    Reference
      is hereby made to the
      Eighth Amended and Restated Fiscal and Paying Agency Agreement dated as of
      May 12, 2006 (the "Fiscal Agency Agreement") among General Electric Capital
      Corporation, as an issuer and as guarantor ("GE Capital"), the other issuers
      named therein or acceded thereto (together with GE Capital, each an "Issuer"),
      JPMorgan Chase Bank, N.A., as fiscal and paying agent (the "Fiscal and Paying
      Agent"), J.P. Morgan Bank Luxembourg S.A., as initial registrar and Luxembourg
      transfer agent pursuant to which Euro Medium-Term Notes and Other Debt
      Securities of each such Issuer are distributed from time to time. Capitalized
      terms used but not defined herein have the meanings assigned to such terms
      in
      the Fiscal Agency Agreement. 

     

    
      	1.	Pursuant
              to Section 19(b)(i) of the Fiscal Agency Agreement,
              this Issuer Accession Letter is being entered into by GE Capital, [Name
              of
              Additional Issuer] (the "Company"), the Fiscal and Paying Agent and
              the
              Paying Agent to provide for the accession of the Company as an Additional
              Issuer party to the Fiscal Agency Agreement as of the date hereof (the
              "Accession Date"). 

    

     

    
      	2.	In
              accordance with Section 19(a) of the Fiscal Agency
              Agreement, GE Capital and the Company hereby confirm that the Company
              is a
              Subsidiary of GE Capital and that each Note issued by the Company shall
              be
              irrevocably and unconditionally guaranteed by GE Capital.
              

    

     

    
      	3.	
              In
                accordance with Section 19(b)(ii) and 19(b)(iii) of the Fiscal Agency
                Agreement, GE Capital and the Company hereby certify to the Fiscal
                and
                Paying Agent that each of the persons signing this Issuer Accession
                Letter
                on behalf of the GE Capital and the Company is an Issuer Authorized
                Representative as defined in Section 3(a) of the Fiscal Agency
                

            

    

     

    E-1

    
      	 	
              Agreement
                and that
                each of the forms of Notes, including the form of the Guarantee appearing
                thereon, attached hereto as Annex A-1 through
                A-[    ] has been approved pursuant to the
                authority delegated to such Issuer Authorized Representative by the
                Board
                of Directors of each of GE Capital and the Company. In addition to
                the
                above, the following persons are Issuer Authorized Representatives
                of the
                Company: [List each Additional Issuer Authorized Representative,
                if any.]
                

            

    

     

    
      	 	4.	In
              accordance with Section 19(b)(iv) of the Fiscal Agency
              Agreement, the Company and the Guarantor hereby confirm that an Issuer
              Accession Notice has been sent to each of the Agents party to the
              Distribution Agreement, a copy of which is attached hereto as Annex
              B.
              

    

     

    
      	 	5.	All
              notices to the Company under Section 20 of the Fiscal
              Agency Agreement shall be deemed to have been given when sent by certified
              or registered mail, postage prepaid, or by facsimile transmission to
              the
              Company as follows (in each case with a copy to GE Capital at the address
              or facsimile number appearing in Section 20 of the Fiscal Agency
              Agreement): 

    

    [Company
      Name] 

    [Address]

    Attention:
                                          

    Phone:
                                              

    Fax:
                                              
    

    Please
      countersign where indicated
      below to indicate your acceptance and agreement to the foregoing, whereupon
      this
      Issuer Accession Letter shall become a valid and binding agreement of the
      parties as of the date first above written. 

     

    
      	
            	
            	
            
	Very
              truly yours,
	
              GENERAL
                ELECTRIC
                CAPITAL

                              CORPORATION

            
	
            	
            
	By:	 	
               

            
	Name:
	Title:
	
            
	[NAME
              OF ADDITIONAL ISSUER]
	
            	
            
	By:	 	
               

            
	Name:
	Title:
	
            
	Accepted
              and Agreed:
	
            
	JPMORGAN
              CHASE BANK, N.A.
	
            	
            
	By:	 	
               

            
	Name:	 	
            
	Title:	 	
            
	
            
	J.P.
              MORGAN BANK LUXEMBOURG S.A.
	
            	
            
	By:	 	
               

            
	Name:
	Title:

    

     

    E-2GECS Exhibit 4i

    Exhibit
      4(i)

    FORM
      OF PERMANENT GLOBAL
      FIXED RATE BEARER NOTE 

    GENERAL
      ELECTRIC CAPITAL
      CORPORATION 

    BEARER
      

    
      	
              No.
                PGFX
                

            	
              BEARER
                

            

    

    [            ]1

    [            ]2

    THIS
      SECURITY IS A PERMANENT GLOBAL
      BEARER NOTE, WITHOUT COUPONS, EXCHANGEABLE FOR THE RIGHTS ATTACHING TO THIS
      NOTE
      AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR DEFINITIVE BEARER
      NOTES OR IF SO PROVIDED HEREIN REGISTERED NOTES ARE AS SPECIFIED IN THE FISCAL
      AGENCY AGREEMENT (AS DEFINED BELOW). 

    ANY
      UNITED STATES PERSON WHO HOLDS
      THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME
      TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a)
      OF
      THE INTERNAL REVENUE CODE. 

    UNLESS
      AND UNTIL IT IS EXCHANGED IN
      WHOLE OR IN PART FOR DEFINITIVE BEARER NOTES OR IF SO PROVIDED HEREIN REGISTERED
      NOTES, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
      [DEPOSITARY/COMMON SAFE-KEEPER]3
      TO A NOMINEE OF THE
      [DEPOSITARY/COMMON SAFE-KEEPER] OR BY A NOMINEE OF THE [DEPOSITARY/COMMON
      SAFE-KEEPER] TO THE [DEPOSITARY/COMMON SAFE-KEEPER] OR ANOTHER NOMINEE OF THE
      [DEPOSITARY/COMMON SAFE-KEEPER] OR BY THE [DEPOSITARY/COMMON SAFE-KEEPER] OR
      ANY
      SUCH NOMINEE TO A SUCCESSOR [DEPOSITARY/COMMON SAFE-KEEPER] OR A NOMINEE OF
      SUCH
      SUCCESSOR [DEPOSITARY/COMMON SAFE-KEEPER]. 

     

    

    
      	
              1

            	
              Insert
                Principal
                Amount. 

            

    

    
      	
              2

            	
              Insert
                Optional
                Payment Amount if the Note has dual-currency feature.
                

            

    

    
      	
              3

            	
              Common
                safe-keeper is only applicable where this Note indicates hereon that
                it is
                intended to be a New Global Note. 

            

    

    
    

    

    GENERAL
      ELECTRIC CAPITAL
      CORPORATION 

    EURO
      MEDIUM - TERM NOTE

    (Fixed
      Rate)

    SERIES:
      

     

    
      	
            	
            	
            	
            	
            	
            	
            
	
              ISIN:

               

              COMMON

              CODE:

               

              ORIGINAL
                ISSUE
                DATE:

               

              MATURITY
                DATE:

               

              PRINCIPAL
                AMOUNT IN SPECIFIED
                CURRENCY:

               

              INTEREST
                RATE:

               

              INTEREST
                PAYMENT
                PERIOD:

               

              FIXED
                INTEREST PAYMENT
                DATE(S):

               

              NEW
                GLOBAL NOTE:

              [    ]
                Yes4

              [    ]
                No

               

              INTENDED
                TO BE HELD IN A
                MANNER WHICH WOULD ALLOW EUROSYSTEM ELIGIBILITY:

              [    ]
                Yes5

              [    ]
                Not
                applicable

            	  	
              DETERMINATION
                DATES:6

               

              INTEREST
                COMMENCEMENT
                DATE:7

               

              ISSUER
                OPTIONAL REDEMPTION
                DATE:

               

              NOTEHOLDER
                OPTIONAL REDEMPTION
                DATE:

               

              OPTIONAL
                REPAYMENT:

               

              OPTIONAL
                REPAYMENT
                DATE(S):

               

              SPECIFIED
                (FACE AMOUNT)
                CURRENCY:

               

              OPTION
                VALUE CALCULATION
                AGENT:

            	  	
              OPTIONAL
                PAYMENT
                CURRENCY:

               

              OPTION
                ELECTION
                DATES:

               

              DESIGNATED
                EXCHANGE
                RATE:

               

              CURRENCY
                BASE
                RATE:

               

              DETERMINATION
                AGENT:

               

              INITIAL
                MATURITY
                DATE:

               

              ELECTION
                DATE

               

              FINAL
                MATURITY
                DATE:

               

              AVAILABILITY
                OF

              REGISTERED
                NOTES:

            	  	
              IF
                THIS NOTE IS EXCHANGEABLE
                DIRECTLY FOR DEFINITIVE NOTES, INDICATE FORM(S) OF

              DEFINITIVE
                NOTES:

               

              DENOMINATIONS
                OF DEFINITIVE
                NOTES (if not as set forth herein):

               

              DENOMINATIONS:

               

              REDENOMINATION:

               

              DAY
                COUNT
                FRACTION:

              [    ]
                30/3608

              [    ]
                Actual/Actual (ICMA)9

              [    ]
                (Other)

               

              TAX
                REDEMPTION
                DATE:

               

              LISTING:

               

              RANKING:

              [    ]
                Senior

              [    ] Subordinated

            

    

    General
      Electric Capital Corporation
      (together with its successors and assigns, the "Company"), for value received,
      hereby promises to pay to the holder hereof upon surrender hereof, the principal
      sum (or Face Amount, if the Note has a dual-currency or index feature)
      (a) if indicated hereon that this Note is not intended to be a New Global
      Note, specified in Schedule A-1 hereto or (b) if indicated hereon that this
      Note is intended to be a New Global Note, entered in the records of the relevant
      Clearing Systems (as defined below), on the Maturity Date specified above
      (except to the extent redeemed or repaid prior to the Maturity Date) or,
      (a) if indicated hereon that this Note is not intended to be a New Global
      Note, in accordance with the Amortization Schedule set out in Schedule A-2
      hereto, or (b) if indicated hereon that this Note is intended to be a New
      Global Note, in accordance with the records of the relevant Clearing

     

    

    
      	
              4

            	
              Only
                applicable
                to euro denominated Notes intended to be held in a manner which would
                allow Eurosystem eligibility. 

            

    

    
      	
              5

            	
              Only
                applicable
                if Note issued in New Global Note form.

            

    

    
      	
              6

            	
              Only
                applicable
                if fixed Day Count Fraction is Act/Act (ICMA)

            

    

    
      	
              7

            	
              Only
                applicable
                if fixed Day Count Fraction is Act/Act (ICMA)

            

    

    
      	
              8

            	
              Fixed
                Rate
                U.S. Dollar denominated Notes 

            

    

    
      	
              9

            	
              Fixed
                Rate Notes
                in all currencies other than U.S. Dollars

            

    

    2

    
    

    

    Systems
      and to pay interest thereon
      to the bearer at the Interest Rate per annum specified above from the Original
      Issue Date specified above until the principal hereof is paid or duly made
      available for payment (except as provided below), in arrears monthly, quarterly,
      semiannually or annually as specified above as the Interest Payment Period
      on
      each Fixed Interest Payment Date (as specified above), commencing with the
      first
      Fixed Interest Payment Date next succeeding the Original Issue Date specified
      above, and on the Maturity Date (or any other redemption or repayment date
      specified above); provided, however, that each of Euroclear Bank,
      S.A./N.A., as operator of the Euroclear System (the”Euroclear Operator”), and
      Clearstream Banking, société anonyme ("Clearstream, Luxembourg" and, together
      with the Euroclear Operator “the relevant Clearing Systems”), or any other
      recognized or agreed clearing system (if indicated hereon that this Note is
      not
      intended to be a New Global Note), shall be deemed a holder of this Note with
      respect to the portion hereof held for its respective account; and
providedfurther, however, that if the Original Issue Date
      occurs between a date that is 15 days prior to the next succeeding Fixed
      Interest Payment Date and such Fixed Interest Payment Date, interest payments
      will commence on the second Fixed Interest Payment Date succeeding the Original
      Issue Date to the holder of this Note on such second Fixed Interest Payment
      Date. 

    If
      indicated hereon that this Note
      is intended to be a New Global Note, the nominal amount of Notes represented
      by
      this Note shall be the aggregate amount from time to time entered in the records
      of the relevant Clearing Systems. The records of the relevant Clearing Systems
      (which expression in this Note means the records that each relevant Clearing
      System holds for its customers which reflect the amount of such customer’s
      interest in the Notes) shall be conclusive evidence of the nominal amount of
      Notes represented by this Note and, for these purposes, a statement issued
      by a
      relevant Clearing System stating the nominal amount of Notes represented by
      this
      Note at any time shall be conclusive evidence of the records of the relevant
      Clearing System at that time. 

    Payments
      due in respect of Notes for
      the time being represented by this Note shall be made to the bearer of this
      Note
      and each payment so made will discharge the Company’s obligations in respect
      thereof. Any failure to make the entries referred to above shall not affect
      such
      discharge. 

    Payment
      of the principal of this
      Note and any premium due at the Maturity Date (or any other redemption or
      repayment date) will be made in immediately available funds upon surrender
      of
      this Note at the office or agency of the Fiscal and Paying Agent or at the
      office or agency of such other paying agents outside the United States (this
      and
      certain other capitalized terms used herein are defined on the reverse of this
      Note) as the Company may determine maintained for that purpose (a “Paying
      Agent”). 

    Interest
      on this Note will accrue
      from the most recent Fixed Interest Payment Date to which interest has been
      paid
      or duly provided for, or, if no interest has been paid or duly provided for,
      from the Original Issue Date, until the principal hereof has been paid or duly
      made available for payment (except as provided below). The interest so payable,
      and punctually paid or duly provided for, on any Fixed Interest Payment Date,
      will be paid to the holder of this Note at the office or agency of the Fiscal
      and Paying Agent or at the office of any Paying Agent and the Fiscal and Paying
      Agent shall (a) if indicated hereon that this Note is not intended to be a
      New Global Note, cause Schedule A-1 of this Note to be endorsed or (b) if
      indicated hereon that this Note is intended to be a New Global Note, promptly
      provide details to the relevant Clearing Systems in order for the records of
      the
      relevant Clearing Systems to be updated and remain at all times accurate, in
      each case to reflect such payment of interest and the amount of interest so
      paid
      will be noted. 

    If
      the Specified Currency is other
      than U.S. dollars, then, except as provided on the reverse hereof, payment
      of
      the principal of and premium, if any, and interest on this Note will be made
      in
      such Specified Currency either by a check drawn on a bank in London, Luxembourg
      or a city in the country of such Specified Currency or by wire transfer of
      immediately available funds to an account maintained by the holder of this
      Note
      with a bank located outside the United States if appropriate wire transfer
      instructions in writing have been received by the Fiscal and Paying Agent or
      any
      Paying Agent not less than 10 days prior to the applicable Fixed Interest
      Payment Date. 

    If
      the Specified Currency indicated
      on the face hereof is U.S. dollars, any payment of the principal of and premium,
      if any, and interest on this Note will be made, subject to applicable laws
      and
      regulations, in such coin or currency of the United States of America as at
      the
      time of payment is legal tender for payment of public and private debts either
      by a check drawn on a bank in The City of New York mailed to an address outside
      the United States furnished by the holder or by wire transfer of immediately
      available funds to an account maintained by the holder of this Note with a
      bank
      located outside the United States if appropriate wire transfer instructions
      have
      been received by the 

     

    3

    
    

    

    Fiscal
      and Paying Agent or any
      Paying Agent not less than 10 days prior to the applicable payment date.
      Notwithstanding the foregoing, in the event that payment in U.S. dollars of
      the
      full amount payable on this Note at the offices of all Paying Agents would
      be
      illegal or effectively precluded as a result of exchange controls or similar
      restrictions, payment on this Note will be made by a paying agency in the United
      States, if such paying agency, under applicable law and regulations, would
      be
      able to make such payment. 

    This
      Note is issued in the principal
      amount set forth on the face hereof, but the total aggregate principal amount
      of
      the Series to which this Note belongs is unlimited. The Company has the right,
      without the consent of the holder of any Note or coupon appertaining thereto,
      to
      issue additional Notes which form part of the Series to which this Note belongs.
      

    Reference
      is hereby made to the
      further provisions of this Note set forth on the reverse hereof, which further
      provisions shall for all purposes have the same effect as if set forth at this
      place. 

    Unless
      the certificate of
      authentication hereon has been executed by the Fiscal and Paying Agent by manual
      signature, and, if indicated hereon that this Note is intended to be held in
      a
      manner which would allow Eurosystem eligibility, effectuated by the entity
      appointed as common safe-keeper by the relevant Clearing Systems, this Note
      shall not be entitled to any benefit under the Fiscal Agency Agreement, as
      defined on the reverse hereof, or be valid or obligatory for any purpose.

     

    4

    
    

    

    IN
      WITNESS WHEREOF,
      the Company has caused this Note to be duly executed. 

     

    
      	
            	
            	
            	
            	
            	
            	
            
	DATED:	 	GENERAL
              ELECTRIC CAPITAL CORPORATION
	
            	
            	
            
	[SEAL]	 	By:	 	
               

            
	
            	 	
            	 	Authorized
              Signatory
	Attest:	 	
            	 	
            	 	
            
	
            	
            	
            	
            
	By:	 	
               

            	 	
            	 	
            
	
            	 	Authorized
              Signatory	 	
            	 	
            
	
            	
            	
            
	CERTIFICATE
              OF AUTHENTICATION	 	
            	 	
            
	
            	
            	
            	
            
	
            	 	This
              is one of the Notes referred to in the within-mentioned Fiscal Agency
              Agreement.	 	
            	 	
            
	
            	
            	
            
	JPMORGAN
              CHASE BANK, N.A.	 	
            	 	
            
	
            	 	as
              Fiscal and Paying Agent	 	
            	 	
            
	By:	 	
               

            	 	
            	 	
            
	
            	 	Authorized
              Officer	 	
            	 	
            
	
            	
            	
            	
            
	
            	 	
              [Effectuated
                without
                recourse,

              warranty
                or liability
                by:

            	 	
            	 	
            
	
            	
            	
            	
            
	
            	 	As
              common safe-keeper]10	 	
            	 	
            

    

    

    
      	
              10

            	
              Applicable
                only
                for a series of Notes issued and indicated hereon that it is issued
                as a
                New Global Note. 

            

    

     

    5

    
    

    

    [Reverse
      of Note]

    This
      Note is one of a duly
      authorized issue of Euro Medium-Term Notes of the Series specified on the face
      hereof, having maturities of nine months or more from the date of issue (the
      "Notes") of the Company. The Notes are issuable under an eighth amended and
      restated fiscal and paying agency agreement, dated as of May 12, 2006,
      among General Electric Capital Corporation, GE Capital Australia Funding Pty.
      Ltd., GE Capital Canada Funding Company, GE Capital European Funding, GE Capital
      UK Funding and JPMorgan Chase Bank, N.A., as fiscal agent and as principal
      paying agent (in such capacities, the "Fiscal and Paying Agent") and J.P. Morgan
      Bank Luxembourg S.A., as initial registrar and transfer agent (as amended and
      supplemented from time to time, the "Fiscal Agency Agreement"), to which Fiscal
      Agency Agreement reference is hereby made for a statement of the respective
      rights, limitations of rights, duties and immunities of the Company and holders
      of the Notes and the terms upon which the Notes are, and are to be,
      authenticated, effectuated (if applicable), and delivered. JPMorgan Chase Bank,
      N.A. at its office in London has been appointed the Exchange Rate Agent (the
      "Exchange Rate Agent", which term includes any successor exchange rate agent)
      with respect to the Notes. The terms of individual Notes may vary with respect
      to interest rates, interest rate formulas, issue dates, maturity dates, or
      otherwise, all as provided in the Fiscal Agency Agreement. To the extent not
      inconsistent herewith, the terms of the Fiscal Agency Agreement are hereby
      incorporated by reference herein. 

    This
      Note will not be subject to any
      sinking fund and will not be redeemable or subject to repayment at the option
      of
      the holder prior to maturity, except as provided below. 

    Unless
      otherwise indicated on the
      face of this Note, this Note shall not be subject to repayment at the option
      of
      the holder prior to the Maturity Date. If so indicated on the face of this
      Note,
      this Note may be subject to repayment at the option of the holder on the
      Optional Repayment Date or Dates specified on the face hereof on the terms
      set
      forth herein. On any Optional Repayment Date, this Note will be repayable in
      whole or in part in increments of 1,000 units of the Specified Currency
      indicated on the face hereof (provided that any remaining principal amount
      hereof shall not be less than the minimum authorized denomination hereof) at
      the
      option of the holder hereof at a price equal to 100% of the principal amount
      to
      be repaid, together with interest hereon payable to the date of repayment.
      For
      this Note to be repaid in whole or in part at the option of the holder hereof,
      the Company must receive at the corporate trust office of the Fiscal and Paying
      Agent in the City of London, at least 30 days but not more than 60 days prior
      to
      the repayment, (i) this Note with the form entitled "Option to Elect
      Repayment" on the reverse hereof duly completed or (ii) a telegram,
      facsimile transmission or a letter from a commercial bank or trust company
      in
      Western Europe which must set forth the principal amount of this Note, the
      principal amount of this Note to be repaid, the certificate number or a
      description of the tenor and terms of this Note, a statement that the option
      to
      elect repayment is being exercised thereby and a guarantee that this Note to
      be
      repaid, together with the duly completed form entitled "Option to Elect
      Repayment" on the reverse hereof, will be received by the Fiscal and Paying
      Agent not later than the fifth Business Day after the date of such telegram,
      facsimile transmission or letter; provided, however, that such
      telegram, facsimile transmission or letter from a commercial bank or trust
      company in Western Europe shall only be effective if in such case, this Note
      and
      form duly completed are received by the Fiscal and Paying Agent by such fifth
      Business Day. Exercise of such repayment option by the holder hereof shall
      be
      irrevocable. In the event of repayment of this Note in part only, a new Note
      or
      Notes for the amount of the unpaid portion hereof shall be issued in the name
      of
      the holder hereof upon cancellation hereof, but only in an authorized
      denomination. Partial redemption with respect to Notes indicated hereon that
      it
      is intended to be a New Global Note form will be reflected in the records of
      Euroclear and Clearstream, Luxembourg as either pool factor (whereby a
      percentage reduction is applied to the nominal amount) or reduction in nominal
      amount, at their discretion. 

    Interest
      payments on this Note will
      include interest accrued to but excluding the Fixed Interest Payment Dates
      or
      the Maturity Date (or earlier redemption or repayment date), as the case may
      be.
      Interest payments for this Note, unless otherwise specified on the face hereof,
      will be computed and paid on the following bases: 

     

    
      	 	•	 	
              In
                the
                case of Notes denominated in U.S. Dollars “30/360” means interest will be
                computed and paid on the basis of the number of days in the Calculation
                Period divided by 360 (the number of days to be calculated on the
                basis of
                a 360-day year of twelve 30-day months) ("30/360").
                

            

    

     

    6

    
    

    

    
      	 	•	 	
              In
                the
                case of Notes denominated in a currency other than U.S. Dollars,
                "Actual/Actual (ICMA)" means interest will be computed and paid on
                the
                following basis : 

            

    

    (a)
      in the case of Notes where the
      number of days in the relevant period from (and including) the most recent
      Fixed
      Interest Payment Date (or, if none, the Interest Commencement Date) to (but
      excluding) the relevant payment date (the "Calculation Period")
      is equal to or shorter than the Determination Period (as defined below) during
      which the Calculation Period ends, the number of days in such Calculation Period
      divided by the product of (1) the number of days in such Determination
      Period and (2) the number of determination dates (each, a
      "Determination Date") that would occur in one calendar year,
      assuming interest was to be payable in respect of the whole of that year; or
      

    (b)
      in the case of Notes where the
      Calculation Period is longer than the Determination Period during which the
      Calculation Period ends, the sum of: 

    (i)
      the number of days in such
      Calculation Period falling in the Determination Period in which the Calculation
      Period begins divided by the product of (x) the number of days in such
      Determination Period and (y) the number of Determination Dates (as
      specified in the applicable Final Terms or Securities Note (as the case may
      be))
      that would occur in one calendar year, assuming interest was to be payable
      in
      respect of the whole of that year; and 

    (ii)
      the number of days in such
      Calculation Period falling in the next Determination Period divided by the
      product of (x) the number of days in such Determination Period and
      (y) the number of Determination Dates that would occur in one calendar
      year, assuming interest was to be payable in respect of the whole of that year;
      

    where
      "Determination Period" means
      the period from (and including) a Determination Date to (but excluding) the
      next
      Determination Date (including, where either the Interest Commencement Date
      or
      the final Fixed Interest Payment Date is not a Determination Date, the period
      commencing on the first Determination Date prior to, and ending on the first
      Determination Date falling after, such date). 

    In
      the case where the Fixed Interest
      Payment Date or the Maturity Date (or any other redemption or repayment date)
      does not fall on a Business Day, payment of interest, premium, if any, or
      principal otherwise payable on such date need not be made on such date, but
      may
      be made on the next succeeding Business Day with the same force and effect
      as if
      made on the Fixed Interest Payment Date or on the Maturity Date (or any other
      redemption or repayment date), and no interest shall accrue for the period
      from
      and after the Fixed Interest Payment Date or the Maturity Date (or any other
      redemption or repayment date) to such next succeeding Business Day.

    [This
      Note is unsecured and ranks
paripassu with all other unsecured and unsubordinated indebtedness
      of the Company/This Note is a subordinate Note and [insert applicable
      subordination provisions.]]11

    This
      Note is issuable in bearer form
      (the "Bearer Notes"), without interest coupons attached, and is exchangeable
      upon 30 days' written notice to the Fiscal and Paying Agent, in whole or from
      time to time in part, for (i) Bearer Notes, with interest coupons attached,
      in such denominations of the Specified Currency as are indicated on the face
      hereof or (ii) (if so specified on the face hereof) Notes in fully
      registered form, without coupons ("Registered Notes"), in such denominations
      of
      the Specified Currency as are indicated on the face hereof at the office of
      the
      Fiscal and Paying Agent, upon the request of the Euroclear Operator or
      Clearstream, Luxembourg, acting on behalf of the owners of beneficial interests
      in the Note, and upon Certification to the effect set forth in Exhibits B-1
      and
      B-2 attached hereto and upon compliance with the other procedures set forth
      in
      the Fiscal Agency Agreement; provided, however, that no such exchange may occur
      during a period beginning at the opening of business 15 days before the day
      of
      the first publication of a notice of redemption and ending on the relevant
      redemption date. All expenses incurred as a result of any such exchange shall
      be
      paid by the Company. Notwithstanding anything to the contrary contained in
      this
      paragraph, the Fiscal and Paying Agent shall not be required to exchange the
      entire aggregate principal amount of a permanent 

     

    

    
      	
              11

            	
              Insert
                as
                applicable as set out in the applicable Final Terms or Securities
                Note (as
                the case may be). 

            

    

    7

    
    

    

    global
      Bearer Note for definitive
      Bearer Notes in the event beneficial owners of less than the entire aggregate
      principal amount of the permanent global Bearer Note have requested definitive
      Bearer Notes, provided the operating rules and regulations of the clearance
      system then in effect would permit less than the entire aggregate principal
      amount of the permanent global Bearer Note to be so exchanged. Upon exchange
      of
      any portion of this Note for a definitive Bearer Note or definitive Bearer
      Notes, or a definitive Registered Note or definitive Registered Notes, the
      Fiscal and Paying Agent shall (a) if indicated hereon that this Note is not
      intended to be a New Global Note, cause Schedule A-1 of this Note to be endorsed
      or (b) if indicated hereon that this Note is intended to be a New Global
      Note, promptly provide details to the relevant Clearing Systems in order for
      the
      records of the relevant Clearing Systems to be updated, in each case to reflect
      the reduction of its principal amount by an amount equal to the aggregate
      principal amount of such definitive Bearer Note or Bearer Notes, or such
      definitive Registered Note or Registered Notes, whereupon the principal amount
      hereof shall be reduced for all purposes by the amount so exchanged and noted.
      The date of surrender of any Note delivered upon any exchange or transfer of
      Notes shall be such that no gain or loss of interest results from such exchange
      or transfer. 

    This
      Note may be transferred by
      delivery; provided, however, that this Note may be transferred
      only to a common depositary, or as the case may be, the common safe-keeper,
      outside the United States for the Euroclear Operator or Clearstream, Luxembourg,
      or to a nominee of such a depositary, or as the case may be, the common
      safe-keeper. 

    In
      case any Note shall at any time
      become mutilated, destroyed, lost or stolen, or is apparently destroyed, lost
      or
      stolen, and such Note or evidence of the loss, theft or destruction thereof
      (together with the indemnity hereinafter referred to and such other documents
      or
      proof as may be required in the premises) shall be delivered to the Fiscal
      and
      Paying Agent, a new Note of like tenor will be issued by the Company in exchange
      for the Note so mutilated or defaced, or in lieu of the Note so destroyed or
      lost or stolen, but, in the case of any destroyed or lost or stolen Note only
      upon receipt of evidence satisfactory to the Fiscal and Paying Agent and the
      Company that such Note was destroyed or lost or stolen and, if required, upon
      receipt also of an indemnity satisfactory to each of them. All expenses and
      reasonable charges associated with procuring such indemnity and with the
      preparation, authentication and delivery of a new Note shall be borne by the
      owner of the Note mutilated, defaced, destroyed, lost or stolen. 

    The
      Fiscal Agency Agreement provides
      that if an Event of Default (as defined in the Fiscal Agency Agreement) with
      respect to the Series of which this Note forms a part, shall have occurred
      and
      be continuing, the holder hereof, by notice in writing to the Company and the
      Fiscal and Paying Agent, may declare the principal of this Note and the interest
      accrued hereon to be due and payable immediately. 

    Notes
      of the Series of which this
      Note forms a part may be redeemed, at the option of the Company, as a whole
      but
      not in part, at any time prior to maturity, upon the giving of a notice of
      redemption as described below, at a redemption price equal to 100% of the
      principal amount thereof, together with accrued interest to the date fixed
      for
      redemption, or, in the case of Original Issue Discount Notes, at 100% of the
      portion of the face amount thereof that has accrued to the date of redemption,
      if the Company determines that, as a result of any change in or amendment to
      the
      laws (or any regulations or rulings promulgated thereunder) of the United States
      or of any political subdivision or taxing authority thereof or therein affecting
      taxation, or any change in official position regarding the application or
      interpretation of such laws, regulations or rulings, which change or amendment
      becomes effective on or after the Tax Redemption Date specified on the face
      hereof, the Company has or will become obligated to pay U.S. Additional Amounts
      (as defined below) with respect to the Notes as described below. Prior to the
      giving of any notice of redemption pursuant to this paragraph, the Company
      shall
      deliver to the Fiscal and Paying Agent (i) a certificate stating that the
      Company is entitled to effect such redemption and setting forth a statement
      of
      facts showing that the conditions precedent to the right of the Company to
      so
      redeem have occurred, and (ii) an opinion of counsel satisfactory to the
      Fiscal and Paying Agent to such effect based on such statement of facts;
      provided that no such notice of redemption shall be given earlier than 90 days
      prior to the earliest date on which the Company would be obligated to pay such
      U.S. Additional Amounts if a payment in respect of the Notes were then due.
      

    Notice
      of redemption will be given
      not less than 30 nor more than 60 days prior to the date fixed for redemption,
      which date and the applicable redemption price will be specified in the notice.
      Such notice will be given in accordance with "Notices" as defined below.

     

    8

    
    

    

    If
      the Company shall determine that
      any payment made outside the United States by the Company or any Paying Agent
      of
      principal or interest, including original issue discount, if any, due in respect
      of any Bearer Notes of the Series of which this Note forms a part would, under
      any present or future laws or regulations of the United States, be subject
      to
      any certification, identification or other information reporting requirement
      of
      any kind, the effect of which requirement is the disclosure to the Company,
      any
      Paying Agent or any governmental authority of the nationality, residence or
      identity of a beneficial owner of such Bearer Note or interest coupon who is
      a
      United States Alien (other than such a requirement (a) which would not be
      applicable to a payment made by the Company or any one of its Paying Agents
      (i) directly to the beneficial owner or (ii) to a custodian, nominee
      or other agent of the beneficial owner, or (b) which can be satisfied by
      such custodian, nominee or other agent certifying to the effect that such
      beneficial owner is a United States Alien, provided that in each case referred
      to in clauses (a)(ii) and (b) payment by such custodian, nominee or agent
      to such beneficial owner is not otherwise subject to any such requirement),
      the
      Company may redeem the Bearer Notes, in whole, at a redemption price equal
      to
      100% of the principal amount thereof, together with accrued interest to the
      date
      fixed for redemption (or, in the case of Original Issue Discount Notes, at
      100%
      of the portion of the face amount thereof that has accrued to the date of
      redemption), or, at the election of the Company if the conditions of the next
      succeeding paragraph are satisfied, pay the additional amounts specified in
      such
      paragraph. The Company shall make such determination and election as soon as
      practicable and publish prompt notice thereof (the "Determination Notice")
      stating the effective date of such certification, identification or other
      information reporting requirements, whether the Company will redeem the Bearer
      Notes of such Series, or whether the Company has elected to pay the U.S.
      Additional Amounts specified in the next succeeding paragraph, and (if
      applicable) the last date by which the redemption of the Bearer Notes must
      take
      place, as provided in the next succeeding sentence. If the Company redeems
      the
      Bearer Notes, such redemption shall take place on such date, not later than
      one
      year after the publication of the Determination Notice, as the Company shall
      elect by notice to the Fiscal and Paying Agent at least 60 days prior to the
      date fixed for redemption. Notice of such redemption of the Bearer Notes will
      be
      given to the holders of the Bearer Notes not more than 60 nor less than 30
      days
      prior to the date fixed for redemption. Such redemption notice shall include
      a
      statement as to the last date by which the Bearer Notes to be redeemed may
      be
      exchanged for Registered Notes. Notwithstanding the foregoing, the Company
      shall
      not so redeem the Bearer Notes if the Company shall subsequently determine,
      not
      less than 30 days prior to the date fixed for redemption, that subsequent
      payments would not be subject to any such requirement, in which case the Company
      shall publish prompt notice of such determination and any earlier redemption
      notice shall be revoked and of no further effect. The right of any of the
      holders of Bearer Notes called for redemption pursuant to this paragraph to
      exchange such Bearer Notes for Registered Notes will terminate at the close
      of
      business of the Fiscal and Paying Agent on the fifteenth day prior to the date
      fixed for redemption, and no further exchanges of such Series of Bearer Notes
      for Registered Notes shall be permitted. 

    If
      and so long as the certification,
      identification or other information reporting requirements referred to in the
      preceding paragraph would be fully satisfied by payment of a backup withholding
      tax or similar charge, the Company may elect to pay as U.S. Additional Amounts
      such amounts as may be necessary so that every net payment made outside the
      United States following the effective date of such requirements by the Company
      or any Paying Agent of principal or interest, including original issue discount,
      if any, due in respect of any Bearer Note or any interest coupon of which the
      beneficial owner is a United States Alien (but without any requirement that
      the
      nationality, residence or identity of such beneficial owner be disclosed to
      the
      Company, any Paying Agent or any governmental authority, with respect to the
      payment of such additional amounts), after deduction or withholding for or
      on
      account of such backup withholding tax or similar charge (other than a backup
      withholding tax or similar charge which (i) would not be applicable in the
      circumstances referred to in the second parenthetical clause of the first
      sentence of the preceding paragraph, or (ii) is imposed as a result of the
      presentation of such Bearer Note or interest coupon for payment more than 15
      calendar days after the date on which such payment becomes due and payable
      or on
      which payment thereof is duly provided for, whichever occurs later), will not
      be
      less than the amount provided for in such Bearer Note or interest coupon to
      be
      then due and payable. In the event the Company elects to pay U.S. Additional
      Amounts pursuant to this paragraph, the Company shall have the right to redeem
      the Bearer Notes of such Series as a whole at any time pursuant to the
      applicable provisions of the immediately preceding paragraph and the redemption
      price of such Bearer Notes shall not be reduced for applicable withholding
      taxes. If the Company elects to pay U.S. Additional Amounts pursuant to this
      paragraph and the condition specified in the first sentence of this paragraph
      should no longer be satisfied, then the Company shall redeem the Bearer Notes
      of
      such Series in whole, pursuant to the applicable provisions of the immediately
      preceding paragraph. 

     

    9

    
    

    

    The
      Company will, subject to certain
      exceptions and limitations set forth below, pay such additional amounts (the
      "U.S. Additional Amounts") to the holder of any Note or of any coupon, if any,
      who is a United States Alien as may be necessary in order that every net payment
      of the principal of, premium and interest, including original issue discount,
      on
      such Note and any other amounts payable on such Note, after withholding for
      or
      on account of any present or future tax, assessment or governmental charge
      imposed upon or as a result of such payment by the United States (or any
      political subdivision or taxing authority thereof or therein), will not be
      less
      than the amount provided for in such Note or coupon, if any, to be then due
      and
      payable. However, the Company will not be required to make any payment of U.S.
      Additional Amounts to any such holder for or on account of: 

    (a)
      any such tax, assessment or
      other governmental charge which would not have been so imposed but for
      (i) the existence of any present or former connection between such holder
      (or between a fiduciary, settlor, beneficiary, member or shareholder of such
      holder, if such holder is an estate, a trust, a partnership or a corporation)
      and the United States, including, without limitation, such holder (or such
      fiduciary, settlor, beneficiary, member or shareholder) being or having been
      a
      citizen or resident thereof or being or having been engaged in a trade or
      business or present therein or having, or having had, a permanent establishment
      therein or (ii) the presentation by the holder of any such Note or coupon
      for payment on a date more than 15 days after the date on which such
      payment became due and payable or the date on which payment thereof is duly
      provided for, whichever occurs later; 

    (b)
      any estate, inheritance, gift,
      sales, transfer or personal property tax or any similar tax, assessment or
      governmental charge; 

    (c)
      any tax, assessment or other
      governmental charge imposed by reason of such holder’s past or present status as
      a personal holding company or foreign personal holding company or controlled
      foreign corporation or passive foreign investment company with respect to the
      United States or as a corporation which accumulates earnings to avoid United
      States federal income tax or as a private foundation or other tax-exempt
      organization; 

    (d)
      any tax, assessment or other
      governmental charge which is payable otherwise than by withholding from payments
      on or in respect of any Note; 

    (e)
      any tax, assessment or other
      governmental charge which would not have been imposed but for the failure to
      comply with certification, information or other reporting requirements
      concerning the nationality, residence or identity of the holder or beneficial
      owner of such Note, if such compliance is required by statute or by regulation
      of the United States or of any political subdivision or taxing authority thereof
      or therein as a precondition to relief or exemption from such tax, assessment
      or
      other governmental charge; 

    (f)
      any tax, assessment or other
      governmental charge imposed by reason of such holder’s past or present status as
      the actual or constructive owner of 10% or more of the total combined voting
      power of all classes of stock entitled to vote of the Company or as a direct
      or
      indirect affiliate of the Company; 

    (g)
      any tax, assessment or other
      governmental charge required to be deducted or withheld by any Paying Agent
      from
      a payment on a Note or coupon, if such payment can be made without such
      deduction or withholding by any other Paying Agent; or 

    (h)
      any combination of two or more
      of items (a), (b), (c), (d), (e), (f) and (g); 

    nor
      shall U.S. Additional Amounts be
      paid with respect to any payment on a Note to a United States Alien who is
      a
      fiduciary or partnership or other than the sole beneficial owner of such payment
      to the extent such payment would be required by the laws of the United States
      (or any political subdivision thereof) to be included in the income, for tax
      purposes, of a beneficiary or settlor with respect to such fiduciary or a member
      of such partnership or a beneficial owner who would not have been entitled
      to
      the U.S. Additional Amounts had such beneficiary, settlor, member or beneficial
      owner been the holder of such Note. 

    The
      Company will not be required to
      make any payment of U.S. Additional Amounts to any holder for or on the account
      of : 

     

    
      	 	(a)	any
              tax, duty, assessment or other governmental charge required to
              be withheld by any Paying Agent from any payment of principal of, or
              interest on, any Note, if such payment can be made without such
              withholding by any other Paying Agent in a member state of the European
              Union; or 

    

     

    10

    
    

    

    
      	 	(b)	any
              tax, duty, assessment or other governmental charge required to
              be imposed or withheld on a payment to an individual and such deduction
              or
              withholding is required to be made pursuant to any European Union
              Directive on the taxation of savings or any law implementing or complying
              with, or introduced in order to conform to, such Directive.
              

    

    The
      Fiscal Agency Agreement provides
      that the Company will not merge or consolidate with any other corporation or
      sell, convey, transfer or otherwise dispose of all or substantially all of
      its
      properties to any other corporation, unless (i) either the Company shall be
      the continuing corporation or the successor corporation (if other than the
      Company) (the "successor corporation") shall be a corporation incorporated
      under
      the laws of the United States of America and such successor corporation shall
      expressly assume the due and punctual payments of all amounts due under this
      Note and the due and punctual performance of all of the covenants and
      obligations of the Company under this Note by supplemental agreement
      satisfactory to the Fiscal and Paying Agent executed and delivered to such
      Fiscal and Paying Agent by the successor corporation and the Company and
      (ii) the Company or such successor corporation, as the case may be, shall
      not, immediately after such merger or consolidation, or such sale, conveyance,
      transfer or other disposition, be in default in the performance of any such
      covenant or obligation. Upon any such merger or consolidation, sale, conveyance,
      transfer or other disposition, such successor corporation shall succeed to
      and
      be substituted for, and may exercise every right and power of and shall be
      subject to all the obligations of, the Company under this Note, with the same
      effect as if such successor corporation had been named as the Company herein,
      and the Company shall be released from its liability under this Note and under
      the Fiscal Agency Agreement. 

    The
      Fiscal Agency Agreement permits
      the Company, when authorized by resolution of the Board of Directors, and the
      Fiscal and Paying Agent, with the consent of the holders of not less than a
      majority in aggregate principal amount of the Notes of the Series of which
      this
      Note forms a part, to modify or amend the Fiscal Agency Agreement or such Notes;
      provided, however, that no such modification or amendment may,
      without the consent of the holders of each such Note affected thereby,
      (i) change the stated maturity of the principal of any such Note or extend
      the time for payment of interest thereon; (ii) change the amount of the
      principal of an Original Issue Discount Note of such Series that would be due
      and payable upon an acceleration of the maturity thereof; (iii) reduce the
      amount of interest payable thereon or the amount payable thereon in the event
      of
      redemption or acceleration; (iv) change the currency of payment of
      principal of or any other amounts payable on any such Note; (v) impair the
      right to institute suit for the enforcement of any such payment on or with
      respect to any such Note; (vi) reduce the above-stated percentage of the
      principal amount of Notes of such Series the consent of whose holders is
      necessary to modify or amend the Fiscal Agency Agreement or the Notes of such
      Series or reduce the percentage of the Notes of such Series required for the
      taking of action or the quorum required at any such meeting of holders of Notes
      of such Series; or (vii) modify the foregoing requirements to reduce the
      percentage of outstanding Notes of such Series necessary to waive any future
      compliance or past default. 

    Purchasers
      are required to pay for
      the Notes in the currency specified in the applicable Final Terms or Securities
      Note (as the case may be). Payment of principal, premium, if any, and interest,
      if any, on each Note will be made in immediately available funds in the
      Specified Currency unless otherwise specified in the applicable Final Terms
      or
      Securities Note (as the case may be) and except as provided below. 

    If
      specified in the applicable Final
      Terms or Securities Note (as the case may be), the Company may, without the
      consent of holders of Notes denominated in a Specified Currency of a member
      state of the European Union, which on or after the issue date of such Notes
      participates in European Economic and Monetary Union, on giving at least 30
      days' prior notice (the "Redenomination Notice") to the holders of such Notes
      and on prior notice to the Paying Agent, the Euroclear Operator, Clearstream,
      Luxembourg and/or any other relevant clearing system (if indicated hereon that
      this Note is not intended to be a New Global Note), elect that, with effect
      from
      the date specified in the Redenomination Notice (the "Redenomination Date"),
      such Notes shall be redenominated in euro. The election will have effect as
      follows: (a) the Notes shall be deemed to be redenominated into euro in the
      denomination of €0.01 with a nominal amount for each Note equal to the nominal
      amount of that Note in the Specified Currency, converted into euro at the

     

    11

    
    

    

    Established
      Rate (defined below),
      provided that, if the Company determines after consultation with the Paying
      Agent that the then market practice in respect of the redenomination into euro
      of internationally offered securities is different from the provisions specified
      above, such provisions shall be deemed to be amended so as to comply with such
      market practice and the Company shall promptly notify the holders of Notes,
      any
      stock exchange on which the Notes may be listed and the Paying Agent of such
      deemed amendments; (b) save to the extent that an Exchange Notice (defined
      below) has been given in accordance with paragraph (d) below, the amount of
      interest due in respect of the Notes will be calculated by reference to the
      aggregate nominal amount of Notes presented (or, as the case may be, in respect
      of which coupons are presented) for payment by the relevant holder and the
      amount of such payment shall be rounded down to the nearest €0.01; (c) if
      definitive Notes are required to be issued after the Redenomination Date, they
      shall be issued at the expense of the Company in the denominations of €1,000, €
10,000, € 100,000 and (but only to the extent of any remaining amounts less than
€1,000 or such smaller denominations as the Paying Agent may approve) €0.01 and
      such other denominations as the Issuer shall determine and notify to the
      Noteholders; (d) if issued prior to the Redenomination Date, all unmatured
      coupons denominated in the Specified Currency (whether or not attached to the
      Notes) will become void with effect from the date on which the Company gives
      notice (the "Exchange Notice") that replacement euro-denominated Notes and
      coupons are available for exchange (provided that such securities are so
      available) and no payments will be made in respect of them. The payment
      obligations contained in any Notes so issued will also become void on that
      date
      although such Notes will continue to constitute valid exchange obligations
      of
      the Company. New euro-denominated Notes and coupons, if any, will be issued
      in
      exchange for Notes and coupons, if any, denominated in the Specified Currency
      in
      such manner as the Paying Agent may specify and as shall be notified to the
      holders of Notes in the Exchange Notice. No Exchange Notice may be given less
      than 15 days prior to any date for payment of principal or interest on the
      Notes; (e) after the Redenomination Date, all payments in respect of the
      Notes and the coupons, if any, including payments of interest in respect of
      periods commencing before the Redenomination Date, will be made solely in euro
      as though references in the Notes to the Specified Currency were to euro.
      Payments will be made in euro by credit or transfer to a euro account outside
      the United States (or any other account to which euro may be credited or
      transferred) specified by the payee or, at the option of the payee, by a euro
      cheque mailed to an address outside the United States; (f) the applicable
      Final Terms or Securities Note (as the case may be) will specify any relevant
      changes to the provisions relating to interest; and (g) such other changes
      shall be made as the Company may decide, after consultation with the Paying
      Agent and the calculation agent (if applicable), and as may be specified in
      the
      Redenomination Notice, to conform them to conventions then applicable to
      instruments denominated in euro. For the purposes hereof, "Established Rate"
      means the rate for the conversion of the Specified Currency (including
      compliance with rules relating to roundings in accordance with applicable
      European Union regulations) into euro established by the Council of the European
      Union pursuant to Article 1091(4) of the treaty establishing the European
      Communities, as amended by the Treaty on European Union, and "sub-unit" means,
      with respect to any Specified Currency other than euro, the lowest amount of
      such Specified Currency that is available as legal tender in the country of
      such
      Specified Currency and, with respect to euro, means one cent. 

    Payments
      of principal, premium, if
      any, and interest, if any, on any Note denominated in a Specified Currency
      other
      than U.S. dollars shall be made in U.S. dollars if, on any payment date, such
      Specified Currency (a) is unavailable due to imposition of exchange
      controls or other circumstances beyond the Company's control or (b) is no
      longer used by the government of the country issuing such currency or for the
      settlement of transactions by public institutions in that country or within
      the
      international banking community. Such payments shall be made in U.S. dollars
      on
      such payment date and on all subsequent payment dates until such Specified
      Currency is again available or so used as determined by the Company.

    Amounts
      so payable on any such date
      in such Specified Currency shall be converted into U.S. dollars at a rate
      determined by the Exchange Rate Agent on the basis of the most recently
      available Market Exchange Rate or as otherwise indicated in the applicable
      Final
      Terms or Securities Note (as the case may be). The Exchange Rate Agent at the
      date of the Fiscal Agency Agreement is JPMorgan Chase Bank, N.A. Any payment
      required to be made on Notes denominated in a Specified Currency other than
      U.S.
      dollars and euro that is instead made in U.S. dollars under the circumstances
      described above will not constitute a default of any obligation of the relevant
      Issuer under such Notes. The "Market Exchange Rate" with respect to any currency
      other than U.S. dollars means, for any day, the noon dollar buying rate in
      The
      City of New York on such day for cable transfers of such currency as published
      by the Federal Reserve Bank of New York, or, if such rate is not published
      for
      such day, the equivalent rate as determined by the Exchange Rate Agent.

     

    12

    
    

    

    The
      provisions of the two preceding
      paragraphs shall not apply in the event of the introduction in the country
      issuing any Specified Currency of the euro pursuant to the entry of such country
      into European Economic and Monetary Union. In this situation, payments of
      principal, premium, if any, and interest, if any, on any Note denominated in
      any
      such Specified Currency shall be effected in euro at such time as is required
      by, and otherwise in conformity with, legally applicable measures adopted with
      reference to such country's entry into European Economic and Monetary Union.
      All
      references herein or in any Final Terms or Securities Note (as the case may
      be)
      to "euro" shall be to the lawful currency of the member states of the European
      Union that adopt the single currency in accordance with the treaty establishing
      the European Communities, as amended. 

    All
      determinations made by the
      Company or the agent of the Company shall be at such person's sole discretion
      and shall, in the absence of manifest error, be conclusive for all purposes
      and
      binding on the Company and all holders of Notes. 

    So
      long as this Note or the Coupons
      shall be outstanding, the Company will cause to be maintained an office or
      agency for the payment of the principal of and premium, if any, and interest
      on
      this Note as herein provided in London, England, and in any jurisdiction
      required by the rules and regulations of any stock exchange, competent authority
      and/or market on which this Note may be listed and/or admitted to trading and
      an
      office or agency in London for the transfer and exchange as aforesaid of the
      Notes. The Company may designate other agencies for the payment of said
      principal, premium and interest at such place or places outside the United
      States (subject to applicable laws and regulations) as the Company may decide.
      So long as there shall be any such agency, the Company shall keep the Fiscal
      and
      Paying Agent advised of the names and locations of such agencies, if any are
      so
      designated. 

    With
      respect to moneys paid by the
      Company and held by the Fiscal and Paying Agent or any Paying Agent for the
      payment of the principal of or interest or premium, if any, on any Note that
      remain unclaimed at the end of three years after such principal, interest or
      premium shall have become due and payable (whether at maturity or upon call
      for
      redemption or otherwise), (i) the Fiscal and Paying Agent or such Paying
      Agent shall notify the holders of such Notes that such moneys shall be repaid
      to
      the Company and any person claiming such moneys shall thereafter look only
      to
      the Company for payment thereof and (ii) such moneys shall be so repaid to
      the Company. Upon such repayment all liability of the Fiscal and Paying Agent
      or
      such Paying Agent with respect to such moneys shall thereupon cease, without,
      however, limiting in any way any obligation that the Company may have to pay
      the
      principal of or interest or premium, if any, on this Note as the same shall
      become due. 

    No
      provision of this Note or of the
      Fiscal Agency Agreement shall alter or impair the obligation of the Company,
      which is absolute and unconditional, to pay the principal of, premium, if any,
      and interest on this Note at the time, place, and rate, and in the coin or
      currency, herein and in the Fiscal Agency Agreement prescribed unless otherwise
      agreed between the Company and the holder of this Note. 

    No
      recourse shall be had for the
      payment of the principal of, or premium, if any, or the interest on this Note,
      for any claim based hereon, or otherwise in respect hereof, or based on or
      in
      respect of the Fiscal Agency Agreement or any fiscal agency agreement
      supplemental thereto, against any incorporator, shareholder, officer or
      director, as such, past, present or future, of the Company or of any successor
      corporation to the Company, either directly or through the Company or any
      successor corporation to the Company, whether by virtue of any constitution,
      statute or rule of law or by the enforcement of any assessment or penalty or
      otherwise, all such liability being, by the acceptance hereof and as part of
      the
      consideration for the issue hereof, expressly waived and released. 

    This
      Note and the Coupons shall for
      all purposes be governed by, and construed in accordance with, the laws of
      the
      State of New York. 

    As
      used herein: 

    (a)
      the term "Business
      Day" means, unless otherwise specified in the applicable Final Terms
      or
      Securities Note (as the case may be), any day other than a Saturday or Sunday
      or
      any other day on which banking institutions are generally authorized or
      obligated by law or regulation to close in each of (i) the Principal
      Financial Center of the country in which the Company is incorporated;
      (ii) the Principal Financial Center of the country of the currency in which
      the Notes are denominated (if the Note is denominated in a 

     

    13

    
    

    

    Specified
      Currency other than euro);
      (iii) London, England; and (iv) any Additional Business Centre
      specified in the applicable Final Terms or Securities Note (as the case may
      be);
      provided, however, that with respect to Notes denominated in euro, such day
      is
      also a TARGET Settlement Day; 

    (b)
      the term
      "Notices" refers to notices to holders of the Notes to be given
      by publication in one leading English language daily newspaper with general
      circulation in London or, if publication in London is not practical, elsewhere
      in Western Europe. Such publication is expected to be made in the Financial
      Times. If the Series of which this Note forms a part is listed on any stock
      exchange, competent authority and/or market, notices to the holders of the
      Notes
      will be published in a manner which complies with the rules and regulations
      of
      such stock exchange, competent authority and/or market. Such notices will be
      deemed to have been given on the date of such publication, or if published
      in
      such newspapers on different dates, on the date of the first such publication;
      and 

    (c)
      the term "Principal
      Financial Center" means (i) the capital of the country issuing the
      currency in which the Notes are denominated or (ii) the capital city of the
      country to which the Designated LIBOR Currency relates, as applicable, except,
      in the case of (i) or (ii) above, that with respect to the following
      currencies, the "Principal Financial Center" will be as indicated below:

     

    
      	
            	
            	
            
	
              Currency

            	  	
              Principal
                Financial
                Center

            
	
            	
            
	United
              States dollars	  	The
              City of New York
	Australian
              dollars	  	Sydney
              and Melbourne
	Canadian
              dollars	  	Toronto
	New
              Zealand dollars	  	Auckland
              and Wellington
	Norwegian
              Krone	  	Oslo
	South
              African rand	  	Johannesburg
	Swedish
              Krona	  	Stockholm
	Swiss
              francs	  	Zurich

    

    (d)
      the term "TARGET
      Settlement Day" means any day on which the Trans-European Automated
      Real-Time Gross Settlement Express Transfer (TARGET) System is open;

    (e)
      the term "United
      States" means the United States of America (including the States and
      the District of Columbia), its territories, its possessions and other areas
      subject to its jurisdiction; 

    (f)
      the term "United States
      Alien" means a beneficial owner of a Note that is not, for United
      States federal income tax purposes, (i) a citizen or resident of the United
      States, (ii) a corporation, partnership or other entity created or
      organized in or under the laws of the United States or any political subdivision
      thereof, (iii) an estate whose income is subject to United States federal
      income tax regardless of its source, or (iv) a trust if a court within the
      United States is able to exercise primary supervision over the administration
      of
      the trust and one or more United States persons have the authority to control
      all substantial decisions of the trust or if such trust has a valid election
      in
      effect under applicable U.S. Treasury regulations to be treated as a United
      States person; 

    (g)
      the term
“Certification” means a certificate substantially in the form
      of Exhibit B-2 hereto delivered by the Euroclear Operator, Clearstream
      Luxembourg or other clearance system specified on the face hereof, as the case
      may be, which certificate is based on a certificate substantially in the form
      of
      Exhibit B-1 hereto provided to it by its account holders; and 

    (h)
      all other terms used in this
      Note which are defined in the Fiscal Agency Agreement and not otherwise defined
      herein shall have the meanings assigned to them in the Fiscal Agency Agreement.
      

     

    14

    
    

    

    OPTION
      TO ELECT REPAYMENT

    The
      undersigned hereby irrevocably
      request(s) the Issuer to repay the within Note (or portion thereof specified
      below) pursuant to its terms at a price equal to the principal amount thereof,
      together with interest to the Optional Repayment Date, to the undersigned,
      at
            (Please
      print or typewrite name and address of the undersigned). 

    If
      less than the entire principal
      amount of the within Note is to be repaid, specify the portion thereof (which
      shall be increments of 1,000 units of the Specified Currency indicated on the
      face hereof) which the holder elects to have repaid:
            ;
      and specify the denomination or denominations (which shall not be less than
      the
      minimum authorized denomination) of the Notes to be issued to the holder for
      the
      portion of the within Note not being repaid (in the absence of any such
      specification, one such Note will be issued for the portion not being
      repaid):            

     

    
      	
            	
            	
            
	
              Date:

               

            	 	
            
	
            	 	NOTICE:
              The signature on this Option to Elect
              Repayment must correspond with the name as written upon the face of
              the
              within instrument in every particular without alteration or
              enlargement.

    

     

    15

    
    

    

    SCHEDULE
      A-1

    EXCHANGE
      FOR DEFINITIVE
      BEARER NOTES, DEFINITIVE 

    REGISTERED
      NOTES AND FROM TEMPORARY GLOBAL NOTE12

    The
      Initial Principal Amount of this
      Note is
            .
      The following payments of interest and exchanges of a part of this Permanent
      Global Fixed Rate Bearer Note for definitive Bearer Notes and Registered Notes,
      and from Temporary Global Notes have been made: 

     

    
      	
            	
            	
            	
            	
            	
            	
            	
            	
            	
            	
            	
            	
            
	
              Date of Exchange or

              Interest Payment

            	 	
              Payment
of

              Interest

            	 	
              Principal (Face)13

              Amount

              Exchanged

              From

              Temporary

              Global
                Notes

            	 	
              Principal (Face)13

              Amount

              Exchanged

              For

              Definitive

              Bearer

              Notes

            	 	
              Principal (Face)13

              Amount

              Exchanged

              For

              Definitive

              Registered

              Notes

            	 	
              Remaining

              Principal (Face)13

              Amount

              Outstanding

              Following

              Such

              Exchange

            	 	
              Notation

              Made
by
                or

              on
behalf
of

              Fiscal
and

              Paying

              Agent

            

    

     

     

     

    

    
      	
              12

            	
              Schedule
                A-1
                should only be completed where this Note indicates hereon that it
                is not
                intended to be a New Global Note. 

            

    

    
      	
              13

            	
              To
                be used if
                Note has dual-currency or index feature.

            

    

     

    16

    
    

    

    SCHEDULE
      A-2

    AMORTIZATION
      SCHEDULE14

    [INSERT
      IF APPLICABLE] /
      [NOT APPLICABLE] 

     

    

    
      	
              14

            	
              Schedule
                A-2
                should only be completed where this Note indicates hereon that it
                is not
                intended to be a New Global Note. 

            

    

    
    

    

    [FORM
      OF CERTIFICATE TO BE
      GIVEN BY AN ACCOUNT 

    HOLDER
      OF THE EUROCLEAR
      OPERATOR, CLEARSTREAM, LUXEMBOURG 

    OR
      OTHER CLEARANCE SYSTEM]

    EXHIBIT
      B-1

    CERTIFICATE
      

    GENERAL
      ELECTRIC CAPITAL
      CORPORATION 

    Euro
      Medium-Term Notes

    Represented
      by Permanent
      Global Note No.     . 

    This
      is to certify that as of the
      date hereof, and except as set forth below, the above-captioned Notes held
      by
      you for our account (i) are owned by person(s) requesting definitive
      [Registered/Bearer] Notes in exchange for their interests in the
      above-referenced permanent global Note and (ii) such persons desire to
      exchange
            
      principal amount of the above-captioned Notes for definitive [Registered/Bearer]
      Notes. 

    We
      undertake to advise you promptly
      by tested telex on or prior to the date on which you intend to submit your
      certification relating to the Notes held by you for our account in accordance
      with your Operating Procedures if any applicable statement herein is not correct
      on such date, and in the absence of any such notification it may be assumed
      that
      this certification applies as of such date. 

    This
      certification excepts and does
      not relate to $
            
      of such interest in the above Notes in respect of which we do not desire to
      exchange for definitive Notes. 

    Dated:
                              ,
      20 

     

    
      	
            	
            	
            
	[Name
              of Account Holder]
	
            	
            
	By:	 	
               

            
	
            	 	(Authorized
              Signatory)
	Name:	 	
            
	Title:	 	
            

    

    
    

    

    [FORM
      OF CERTIFICATE TO BE
      GIVEN BY AN ACCOUNT 

    HOLDER
      OF THE EUROCLEAR
      OPERATOR, CLEARSTREAM, LUXEMBOURG 

    OR
      OTHER CLEARANCE SYSTEM]

    EXHIBIT
      B-2

    CERTIFICATE
      

    GENERAL
      ELECTRIC CAPITAL
      CORPORATION 

    Euro
      Medium-Term Notes

    Represented
      by Permanent
      Global Note No.     . 

    This
      is to certify that, based
      solely on certifications we have received in writing, by tested telex or by
      electronic transmission from member organizations appearing in our records
      as
      persons being entitled to a portion of the principal amount set forth below
      (our
      "Member Organizations") substantially to the effect set forth in Exhibit C-1
      to
      the Fiscal and Paying Agency Agreement relating to such Notes, as of the date
      hereof,
            principal
      amount of the above-captioned Notes (i) is owned by person(s) requesting
      definitive [Registered/Bearer] Notes in exchange for their interests in the
      above-referenced permanent global Note and (ii) such persons desire to
      exchange
            
      principal amount of the above-captioned Notes for definitive [Registered/Bearer]
      Notes. 

    We
      further certify (i) that we
      are not making available herewith for exchange all interests in the permanent
      global Note excepted as set forth herein and (ii) that as of the date
      hereof we have not received any notification from any of our Member
      Organizations to the effect that the statements made by such Member
      Organizations with respect to any portion of the permanent global Note submitted
      herewith are no longer true and cannot be relied upon as the date hereof.

    Dated:
                              ,
      20 

     

    
      	
            	
            	
            
	[EUROCLEAR
              BANK, S.A./N.V.
	
            	 	as
              Operator of the Euroclear System]
	
            
	
              [CLEARSTREAM
                BANKING
                SOCIÉTÉ ANONYME]

              [OTHER
                CLEARANCE
                SYSTEM]

            
	
            
	
            	
            
	By:

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