GE Specialty Materials Acquires Osmonics, Inc.

March 3, 2003

Osmonics Will Join GE Betz in GE's Water and Process Technologies Business

GE Specialty Materials, a unit of General Electric Company, has acquired Osmonics, Inc., a global manufacturer and marketer of high-technology water purification, filtration and water handling systems.

Osmonics, with operations at eight locations in the US, France and Thailand, joins GE Betz within GE Specialty Materials' water and process technologies business, creating a $1.4 billion enterprise with more than 5,400 employees worldwide. The transaction was first announced in November of 2002. George R. Oliver, currently vice president and general manager of GE Betz, will lead the combined businesses.

The GE Osmonics brand offers a complete line of reverse osmosis, nanofiltration, ultrafiltration and microfiltration membranes and a variety of specialty and microfiber filtration products. In addition to providing complete engineered water treatment systems, it also offers a complete line of components including instruments, pumps, valves and controls for commercial and industrial as well as household water treatment use.

"Osmonics will play a prime role in the evolution and growth of GE's water and industrial process technology enterprise," said D. Dean Spatz, former chairman and chief executive officer of Osmonics, Inc. "This new combination of technical prowess and strong product offerings will reap significant rewards for both the business and its customers."

Source:

GE Specialty Materials

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