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EXHIBIT 99.8
PRESS CONTACTS:
Jeff Ignaszak
GE Power Systems
Phone (770) 859-7650
[email protected]
Ellen Klee
GE Energy Management Services
Phone (770) 859-7384
[email protected]
David DiMatteo
ING Barings Limited
Phone 44-207-767-1000
[email protected]
EXPIRATION OF GE CASH OFFER FOR SMALLWORLDWIDE PLC
November 1, 2000 - Atlanta, GA and London, UK - General Electric Company
("GE") announced today that the subsequent offer period of its tender offer
(being made by its wholly owned subsidiary, GE Power Systems Equities, Inc.) to
purchase all of the outstanding ordinary shares and American depositary shares
representing ordinary shares (collectively, "shares") of Smallworldwide plc
("Smallworld") (Nasdaq: SWLDY) expired at 9:30 a.m., New York City time and 2:30
p.m., London time, on October 31, 2000.
As of 9:30 a.m., New York City time and 2:30 p.m., London time, on October
31, 2000, approximately 9,707,518 shares had been tendered pursuant to the offer
and not withdrawn, which constitutes approximately 98% of the total number of
Smallworld's outstanding shares. Payment for accepted shares has been or will be
made promptly, as applicable. These shares include 1,827,809 shares acquired
pursuant to the cashless exercise of Smallworld options and subsequent tender of
the ordinary shares subject to such options pursuant to the offer.
Except as disclosed herein, neither GE nor any persons acting in concert
with GE owned any shares, or rights over shares, of Smallworld on August 23,
2000 (the last business day prior to the commencement of the offer) nor have
they acquired or agreed to acquire any shares, or rights over shares, of
Smallworld during the offer.
ING Barings Limited, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for GE and GE Power Systems
Equities, Inc. and no one else in connection with the offer and will not be
responsible to anyone other than GE and GE Power Systems Equities, Inc. for
providing the protections afforded to customers of ING Barings Limited or for
giving advice in relation to the offer.
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