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EXHIBIT 99.4
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 44-207-767-1435
[email protected]
GE EXTENDS ITS CASH OFFER FOR SMALLWORLDWIDE PLC
September 22, 2000 - Atlanta, GA and London, UK - General Electric
Company ("GE") announced today that it has extended the initial 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) to 9:30 a.m., New York City
time and 2:30 p.m., London time, on Monday, October 2, 2000. The extension is
required because all of the conditions to the offer have not been satisfied or
waived, including, among other things, obtaining certain regulatory approvals.
GE expects to obtain these regulatory approvals on or prior to the new
expiration date.
As a consequence of the extension of the initial offer period, holders
of Smallworld shares may tender or withdraw their shares until 9:30 a.m., New
York City time and 2:30 p.m., London time, on Monday, October 2, 2000. The offer
was previously scheduled to expire at 10:00 a.m., New York City time and 3:00
p.m., London time, on Friday, September 22, 2000.
As of 10:00 a.m., New York City time and 3:00 p.m., London time, on
September 22, 2000, 7,738,514 shares had been tendered pursuant to the offer and
not withdrawn (including shares tendered through notice of guaranteed delivery),
which constitutes approximately 97% of the total number of Smallworld's
outstanding shares.
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 initial offer
period) nor have they acquired or agreed to acquire any shares, or rights over
shares, of Smallworld during the initial offer period.
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