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Two GE Funds Change Managers

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Sept. 18, 2003 — GE Asset Management said it shuffled the portfolio managers of GE Funds:Strategic Investment Fund/A (GESIX) and GE Funds:Global Equity Fund/A (GEGEX) in connection with the retirement of Eugene Bolton as head of U.S. equities this month.

Christopher Brown, who helps oversee GE Funds:Premier Research Equity Fund/A (GEPRX), took over picking domestic stocks for the Strategic Investment fund, succeeding David Carlson, who has assumed Bolton’s old job. Carlson also pilots GE Funds:Premier Growth Equity Fund/A (GEPCX), and leads the team that manages GE Funds:US Equity Fund/A (GEEQX).

Daizo Motoyoshi, a former analyst who has managed institutional accounts for GE Asset management, has begun running the Global Equity fund, succeeding Carlson and Ralph Layman.

Layman, the director of GE Asset Management’s international equity team, also picks foreign stocks for the Strategic Investment fund and leads the team that runs GE Funds:International Equity Fund/A (GEICX).

The changes are intended to help Carlson and Layman devote more time to their remaining duties, a spokesman for the company said.

The investment style of the Strategic Investment and Global Equity funds, which seek reasonably priced stocks of growing companies, will not change under their new managers, the spokesman, Tim Benedict, said. Strategic Investment, a balanced fund, also invests in bonds.

Both funds are ranked 3 Stars by Standard & Poor’s.