UTAH MERGER First, about the merger with Utah. Most of you are familiar with the terms of the merger. It will be a pooling-of-interests arrangement by which Utah International will become a wholly-owned subsidiary of General Electric through a tax-free exchange of 1.3 shares of General Electric Common Stock for each share of Utah Common Stock. General Electric has approximately 185 million shares outstanding and Utah has approximately 31.5 million. Since it will take additional shares of General Electric stock to effectuate the merger, our share owners yesterday also voted to increase the number of authorized shares of GE stock by 41,500,000 shares principally for this purpose. Ed Littlefield, the Chairman of Utah International, is here to tell you in detail about his Company and its prospects. But before he speaks, I would like to summarize the key factors that made General Electric welcome the opportunity to merge with Utah. BENEFITS TO GENERAL ELECTRIC First, this merger will bring General Electric into a whole new area of opportunity, natural resources. This is an area of enormous potential for future earnings growth because the world is industrializing and demand for fuel and raw materials is increasing rapidly. Second, the Utah merger adds greatly to our well advanced program of diversification beyond the manufacture of traditional electrical equipment and into the faster growing materials and services businesses. More on that later.