RNS Number:2985U
Morgan Stanley & Co. Inc.
15 January 2004



Lodge with Company Announcements Office and the Panel.  Use a separate form
for each class of securities in which dealings have been made.


                      CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Name of EMM:             Morgan Stanley & Co Inc & 
                         Morgan Stanley Capital Services Inc

Date of disclosure:      15 January 2004

Contact name:            George Sobek

Telephone number:        020 7677 2488

Please see attached disclosure of dealings under Rule 38.5 in the securities 
of the following companies:
    

General Electric Company



AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:



In the case of option business or dealings in derivatives full details should 
be given on a separate sheet so that the nature of the dealings can be fully 
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date),
the exercise price and any option money paid or received.  For derivative
this should include, at least, the number of reference securities to which
they relate (when relevant), the maturity date (or if applicable the closing
out date) and the reference price.

For full details of the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129



                                                                       FORM 38.5

                   CONNECTED EXEMPT MARKET-MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in:            General Electric Company      (name of company)

Class of security:     Common Stock

Date of disclosure:    15 January 2004

Date of dealing:       13 January 2004

Name of EMM:           Morgan Stanley & Co. Inc.

Name of offeree/offeror with whom connected    Amersham Plc (Offeree)


Total number of securities bought:     587,940

Highest price paid*:  $32.08

Lowest price paid*:   $31.40


Total number of securities sold:        688,562

Highest price received*:   $32.11

Lowest price received*:    $31.44



DERIVATIVES
                                   Strike
Product      Date of    Buy/Sell   Price   Expiry  Underlying   Highest   Lowest
Description  Dealing               (USD)    Date     Shares     Premium  Premium

CALL- GE     13/01/2004    B        25   01/17/2004    300        6.9      6.9
CALL- GE     13/01/2004    S        25   01/17/2004   2400          7      6.6
CALL- GE     13/01/2004    B        30   01/17/2004  24300       2.05      1.5
CALL- GE     13/01/2004    S        30   01/17/2004  32800       2.15      1.5
CALL- GE     13/01/2004    B        30   02/21/2004   1700        2.3        2
CALL- GE     13/01/2004    S        30   02/21/2004   1600        2.3     1.85
CALL- GE     13/01/2004    B        30   03/20/2004   1800       2.15        2
CALL- GE     13/01/2004    S        30   03/20/2004   3500        2.4      2.1
CALL- GE     13/01/2004    S        30   06/19/2004   1900       2.95     2.75
CALL- GE     13/01/2004    B        35   02/21/2004    500        0.1      0.1
CALL- GE     13/01/2004    B        35   06/19/2004   3800       0.55      0.5
CALL- GE     13/01/2004    B        27   01/17/2004   3200        4.3      3.9
CALL- GE     13/01/2004    B        32   01/17/2004   4800        0.1      0.1
CALL- GE     13/01/2004    S        32   01/17/2004   2100        0.2      0.1
CALL- GE     13/01/2004    B        32   02/21/2004  38200       0.55     0.45
CALL- GE     13/01/2004    S        32   02/21/2004  38900        0.6     0.45
CALL- GE     13/01/2004    B        32   03/20/2004    700       0.65      0.6
CALL- GE     13/01/2004    S        32   03/20/2004  44600        0.9     0.65
CALL- GE     13/01/2004    B        32   06/19/2004   54OO       1.35     1.15
CALL- GE     13/01/2004    S        30   01/21/2006    500        4.8      4.8
CALL- GE     13/01/2004    B        30   01/22/2005    200        3.3      3.3
CALL- GE     13/01/2004    S        30   01/22/2005   6700        3.7      3.4
CALL- GE     13/01/2004    B        35   01/22/2005    300       1.15     1.15
CALL- GE     13/01/2004    S        35   01/22/2005    600        1.2      1.2
CALL- GE     13/01/2004    B        40   01/22/2005   1900       0.35     0.35
CALL- GE     13/01/2004    B        45   01/22/2005    100        0.1      0.1
CALL- GE     13/01/2004    S        27   01/22/2005   4400        5.5      5.3
CALL- GE     13/01/2004    S        32   01/22/2005   1000       2.15     2.15
PUT - GE     13/01/2004    B        30   01/17/2004    500      0.05      0.05
PUT - GE     13/01/2004    S        30   01/17/2004  35000      0.05      0.05
PUT - GE     13/01/2004    B        30   02/21/2004   1100      0.35       0.3
PUT - GE     13/01/2004    B        30   03/20/2004  11400      0.65      0.55
PUT - GE     13/01/2004    S        30   03/20/2004    500       0.6       0.6
PUT - GE     13/01/2004    B        35   01/17/2004    200       3.5       3.5
PUT - GE     13/01/2004    S        35   06/19/2004    600       3.9       3.9
PUT - GE     13/01/2004    S        27   03/20/2004    300      0.25       0.2
PUT - GE     13/01/2004    B        32   02/21/2004   5100      1.45      1.05
PUT - GE     13/01/2004    S        32   03/20/2004   1000       1.8       1.8
PUT - GE     13/01/2004    B        32   06/19/2004   2300       2.2       1.9
PUT - GE     13/01/2004    B        20   01/22/2005  10000       0.2       0.2
PUT - GE     13/01/2004    B        25   01/22/2005   5000       0.7       0.7


Dealing in:   General Electric Company (name of company)
               
Class of security:   Common Stock

Date of disclosure:   15 January 2004

Date of dealing:      13 January 2004

Name of EMM:   Morgan Stanley Capital Services Inc

Name of offeree/offeror with whom connected:   Amersham Plc (Offeree)



Total number of securities sold:          12,662

Highest price received*:   $31.61

Lowest price received*:    $31.61






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

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