SEC FILE NO. 70-7926
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
In the Matter of :
:
GPU, Inc. :
Jersey Central Power & Light Company : Certificate
Pursuant Metropolitan Edison Company : To Rule 24 of
Partial Pennsylvania Electric Company : Completion of
: Transactions
File No. 70-7926 :
:
(Public Utility Holding Company Act of 1935):
:
To the Members of the Securities and Exchange Commission:
The undersigned, GPU, Inc. (formerly known as General
Public Utilities Corporation) ("GPU"), Jersey Central Power &
Light Company ("JCP&L"), Metropolitan Edison Company ("Met-Ed")
and Pennsylvania Electric Company ("Penelec"), collectively
referred to as the "GPU Companies", do hereby certify pursuant to
Rule 24 of the General Rules and Regulations under the Public
Utility Holding Company Act of 1935, that certain of the
transactions proposed in the Declaration, as amended, filed in
SEC File No. 70-7926, have been carried out in accordance with
the terms and conditions of, and for the purposes requested in,
said Declaration and pursuant to the Commission's Order, dated
March 18, 1992, and Supplemental Orders, dated October 26, 1994,
and July 17, 1996, with respect to said Declaration, as follows:
1. During the period January 1, 1997 through March 31,
1997, the GPU Companies issued no promissory notes representing
borrowings under the Amended and Restated Credit Agreement, dated
-1-<PAGE>
as of July 3, 1996, among the GPU Companies; the banks named
therein, and The Chase Manhattan Bank, N.A., as Administrative
Agent, Citibank Securities, Inc., as Syndication Agent, and
Citicorp Securities, Inc. and Chase Securities, Inc., as
Arrangers, and no such borrowings were outstanding thereunder at
such date.
2. At the close of business on December 31, 1996,
JCP&L, Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $ 0
Met-Ed 0
Penelec 9,000,000
3. During the period January 1, 1997 through March 31,
1997, JCP&L, Met-Ed, and Penelec issued and sold (and paid at
maturity where such commercial paper matured on or before March
31, 1997) unsecured short-term promissory notes as commercial
paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
01/03/97 01/10/97 $ 6,600,000
01/06/97 01/13/97 20,000,000
01/07/97 01/14/97 27,000,000
01/08/97 01/15/97 6,200,000
01/10/97 01/17/97 7,900,000
01/14/97 01/22/97 13,600,000
01/14/97 01/21/97 13,000,000
01/16/97 01/24/97 5,500,000
01/21/97 01/27/97 10,000,000
01/22/97 02/05/97 10,700,000
01/24/97 02/06/97 14,600,000
01/29/97 02/11/97 20,000,000
02/05/97 02/12/97 7,900,000
02/12/97 02/21/97 9,900,000
02/19/97 02/27/97 6,900,000
02/21/97 03/04/97 4,500,000
02/26/97 03/10/97 9,100,000
02/26/97 03/07/97 10,000,000
-2-<PAGE>
JCP&L cont.
Date of Issuance Maturity Date Amount
03/04/97 03/13/97 $10,000,000
03/04/97 03/12/97 5,200,000
03/05/97 03/14/97 7,700,000
03/12/97 03/18/97 4,500,000
03/20/97 03/21/97 5,900,000
Met-Ed
Date of Issuance Maturity Date Amount
01/16/97 01/29/97 $10,100,000
01/17/97 02/18/97 9,000,000
01/29/97 02/11/97 12,700,000
03/12/97 03/25/97 2,000,000
03/12/97 03/25/97 8,000,000
03/12/97 03/19/97 9,800,000
03/17/97 03/31/97 10,000,000
03/17/97 03/26/97 10,000,000
03/19/97 04/02/97 5,000,000
03/20/97 03/21/97 5,400,000
03/25/97 04/09/97 6,400,000
03/26/97 04/10/97 13,400,000
03/31/97 04/14/97 8,500,000
Penelec
Date of Issuance Maturity Date Amount
01/06/97 02/05/97 $ 9,500,000
01/07/97 01/07/97 7,000,000
01/08/97 02/07/97 14,700,000
01/13/97 02/14/97 5,200,000
01/15/97 02/19/97 9,100,000
01/16/97 02/24/97 7,600,000
01/22/97 02/12/97 8,000,000
02/05/97 02/26/97 3,800,000
02/05/97 02/26/97 5,000,000
02/07/97 02/25/97 10,500,000
02/12/97 03/18/97 6,600,000
02/21/97 03/14/97 7,200,000
02/25/97 03/11/97 7,400,000
02/28/97 03/07/97 7,000,000
03/17/97 03/25/97 10,000,000
03/19/97 04/02/97 9,000,000
03/25/97 04/14/97 10,100,000
03/27/97 04/03/97 15,400,000
-3-<PAGE>
To summarize the above transactions, at March 31, 1997,
JCP&L, Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $ 0
Met-Ed 33,300,000
Penelec 34,500,000
4. At the close of business on December 31, 1996, the GPU
Companies had outstanding unsecured short-term promissory notes
representing bank borrowings under informal bank lines, as
follows:
Company Amount
GPU $75,400,000
JCP&L 31,800,000
Met-Ed 50,690,000
Penelec 98,700,000
During the period January 1, 1997 through March 31, 1997,
the GPU Companies issued unsecured promissory notes representing
bank borrowings under informal bank lines of credit as follows:
GPU
Issue
Date Bank Amount Maturity
01/03/97 Mellon Bank, N.A. $ 4,700,000 01/28/97
01/06/97 Merchants National Bank 200,000 01/23/97
01/08/97 Merchants National Bank 100,000 01/23/97
01/14/97 Banca Popolare Di Milano 10,100,000 02/13/97
01/17/97 Chase Manhattan Bank 6,700,000 01/31/97
01/22/97 PNC Bank 11,100,000 02/07/97
01/23/97 Summit Bank 8,400,000 02/24/97
01/27/97 Summit Bank 5,700,000 02/26/97
01/28/97 Summit Bank 5,000,000 03/04/97
01/29/97 Banca Popolare Di Milano 6,600,000 02/28/97
01/31/97 Chase Manhattan Bank 2,000,000 03/03/97
02/03/97 Banca Popolare Di Milano 3,300,000 03/05/97
02/07/97 Credit Lyonnais 11,300,000 03/10/97
02/12/97 Merchants National Bank 200,000 02/24/97
02/13/97 Banca Popolare Di Milano 10,100,000 03/14/97
02/18/97 Credit Lyonnais 4,900,000 03/19/97
-4-<PAGE>
GPU cont.
Issue
Date Bank Amount Maturity
02/21/97 Canadian Imperial Bank $ 7,600,000 03/21/97
02/21/97 Union Bank of Switzerland 5,200,000 03/18/97
02/24/97 Summit Bank 8,600,000 04/02/97
02/26/97 Credit Lyonnais 9,300,000 03/27/97
02/26/97 Credit Lyonnais 10,000,000 03/26/97
02/28/97 Union Bank of Switzerland 5,300,000 03/24/97
03/03/97 Chase Manhattan Bank 1,900,000 03/24/97
03/04/97 Summit Bank 5,100,000 04/04/97
03/05/97 First Union National Bank 3,300,000 03/28/97
03/10/97 Summit Bank 6,300,000 04/09/97
03/10/97 Chase Manhattan Bank 5,100,000 04/10/97
03/11/97 Merchants National Bank 400,000 03/26/97
03/14/97 Banca Popolare Di Milano 10,100,000 04/14/97
03/18/97 Union Bank of Switzerland 5,100,000 04/17/97
03/19/97 Hamilton Bank 6,000,000 04/07/97
03/21/97 Johnstown Bank & Trust 7,600,000 04/03/97
03/24/97 Bank of Pennsylvania 7,100,000 04/11/97
03/26/97 Chase Manhattan Bank 10,400,000 04/25/97
03/27/97 First Union National Bank 9,100,000 04/08/97
03/28/97 Hamilton Bank 3,300,000 04/10/97
03/31/97 Merchants National Bank 100,000 04/17/97
JCP&L
Issue
Date Bank Amount Maturity
01/02/97 Citibank, N.A. $13,000,000 01/09/97
01/02/97 Chase Manhattan Bank 8,600,000 01/03/97
01/06/97 Banca Popolare Di Milano 8,600,000 01/08/97
01/09/97 Mellon Bank, N.A. 6,700,000 01/10/97
01/13/97 Chase Manhattan Bank 9,700,000 01/16/97
01/15/97 Fuji Bank 5,600,000 01/23/97
01/17/97 Citibank, N.A. 1,700,000 01/24/97
01/21/97 Fuji Bank 4,800,000 01/24/97
01/23/97 Chase Manhattan Bank 1,000,000 01/28/97
01/29/97 Hamilton Bank 6,500,000 02/07/97
01/30/97 Chase Manhattan Bank 4,000,000 02/13/97
01/31/97 Mellon Bank, N.A. 16,000,000 02/14/97
01/31/97 Chase Manhattan Bank 7,800,000 02/03/97
02/03/97 Fuji Bank 3,000,000 02/04/97
02/04/97 Chase Manhattan Bank 13,200,000 02/10/97
02/06/97 Chase Manhattan Bank 8,200,000 02/18/97
02/06/97 Mellon Bank, N.A. 4,000,000 02/13/97
02/10/97 Citibank, N.A. 3,100,000 02/19/97
02/11/97 Canadian Imperial Bank 10,000,000 02/19/97
02/11/97 Fuji Bank 9,400,000 02/20/97
02/13/97 Chase Manhattan Bank 4,200,000 02/18/97
02/14/97 Mellon Bank, N.A. 10,300,000 02/24/97
-5-<PAGE>
JCP&L cont.
Issue
Date Bank Amount Maturity
02/18/97 Union Bank of Switzerland $3,600,000 02/25/97
02/20/97 Fuji Bank 3,700,000 02/25/97
02/25/97 Chase Manhattan Bank 5,000,000 03/05/97
02/27/97 Mellon Bank, N.A. 5,700,000 02/28/97
02/28/97 Citibank, N.A. 3,700,000 03/05/97
03/03/97 Mellon Bank, N.A. 5,600,000 03/11/97
03/06/97 Banca Popolare Di Milano 3,900,000 03/11/97
03/06/97 Citibank, N.A. 5,000,000 03/17/97
03/07/97 Mellon Bank, N.A. 4,100,000 03/10/97
03/10/97 Chase Manhattan Bank 3,200,000 03/18/97
03/11/97 Fuji Bank 1,000,000 03/18/97
03/11/97 Banca Popolare Di Milano 5,200,000 03/17/97
03/12/97 Fuji Bank 3,400,000 03/19/97
03/13/97 Chase Manhattan Bank 3,800,000 03/19/97
03/14/97 Fuji Bank 3,800,000 03/20/97
03/17/97 Fuji Bank 1,900,000 03/20/97
03/18/97 Citibank, N.A. 6,700,000 03/21/97
03/19/97 Fuji Bank 3,700,000 03/24/97
03/21/97 Mellon Bank, N.A. 5,200,000 03/24/97
03/28/97 Bank of Pennsylvania 7,900,000 04/07/97
Met-Ed
Issue
Date Bank Amount Maturity
01/02/97 Chase Manhattan Bank $10,000,000 01/17/97
01/02/97 Chase Manhattan Bank 12,600,000 01/16/97
01/06/97 Banca Popolare Di Milano 5,000,000 01/13/97
01/07/97 Bank of New York 12,600,000 01/08/97
01/08/97 Fuji Bank 8,700,000 01/09/97
01/09/97 Merchants National Bank 200,000 01/17/97
01/09/97 Bank of New York 7,900,000 01/10/97
01/10/97 Canadian Imperial Bank 5,600,000 01/22/97
01/13/97 Citibank, N.A. 1,400,000 01/23/97
01/14/97 Canadian Imperial Bank 9,100,000 01/24/97
01/15/97 Chase Manhattan Bank 3,800,000 01/27/97
01/21/97 Fuji Bank 2,500,000 01/28/97
01/22/97 Mellon Bank, N.A. 4,000,000 01/23/97
01/23/97 Chase Manhattan Bank 3,600,000 01/30/97
01/24/97 Citibank, N.A. 4,900,000 02/04/97
01/27/97 Chase Manhattan Bank 600,000 02/05/97
01/30/97 Union Bank of Switzerland 1,100,000 02/13/97
01/31/97 First Union National Bank 6,000,000 02/19/97
01/31/97 Canadian Imperial Bank 6,100,000 03/03/97
01/31/97 First Union National Bank 6,800,000 02/14/97
02/03/97 First Union National Bank 1,700,000 02/12/97
02/03/97 Chase Manhattan Bank 5,100,000 02/06/97
02/03/97 Chase Manhattan Bank 5,000,000 02/10/97
-6-<PAGE>
Met-Ed cont.
Issue
Date Bank Amount Maturity
02/11/97 Fuji Bank $ 7,500,000 02/21/97
02/12/97 First Union National Bank 3,600,000 02/24/97
02/14/97 Chase Manhattan Bank 4,700,000 02/25/97
02/18/97 Union Bank of Switzerland 5,400,000 02/27/97
02/19/97 Merchants National Bank 100,000 03/04/97
02/20/97 Credit Lyonnais 7,100,000 03/10/97
02/21/97 Chase Manhattan Bank 4,700,000 03/07/97
02/24/97 Chase Manhattan Bank 700,000 03/07/97
02/26/97 Chase Manhattan Bank 10,500,000 03/12/97
02/27/97 Mellon Bank, N.A. 2,500,000 02/28/97
02/28/97 Mellon Bank, N.A. 2,900,000 03/04/97
03/03/97 Mellon Bank, N.A. 3,100,000 03/05/97
03/05/97 Union Bank of Switzerland 4,500,000 03/18/97
03/05/97 Chase Manhattan Bank 5,500,000 03/24/97
03/05/97 Bank of New York 4,800,000 03/06/97
03/06/97 Banca Popolare Di Milano 1,200,000 03/11/97
03/07/97 Chase Manhattan Bank 2,000,000 03/13/97
03/10/97 Chase Manhattan Bank 5,300,000 03/11/97
03/11/97 Fuji Bank 2,400,000 03/14/97
03/14/97 Merchants National Bank 100,000 04/02/97
03/17/97 Credit Lyonnais 10,100,000 04/08/97
03/17/97 Fuji Bank 2,000,000 03/31/97
03/17/97 Credit Lyonnais 10,000,000 04/07/97
03/18/97 Fuji Bank 2,700,000 03/20/97
03/21/97 Fuji Bank 4,200,000 03/27/97
03/24/97 Fuji Bank 1,500,000 03/28/97
03/27/97 First Union National Bank 1,400,000 04/03/97
Penelec
Issue
Date Bank Amount Maturity
01/02/97 Mellon Bank, N.A. $10,700,000 01/16/97
01/03/97 Mellon Bank, N.A. 4,300,000 01/27/97
01/03/97 Morgan Guaranty Trust 10,000,000 01/24/97
01/09/97 Citibank, N.A. 10,000,000 02/10/97
01/09/97 Mellon Bank, N.A. 3,500,000 01/10/97
01/10/97 Canadian Imperial Bank 900,000 01/17/97
01/14/97 Chase Manhattan Bank 4,900,000 02/13/97
01/21/97 Fuji Bank 3,000,000 01/28/97
01/22/97 Mellon Bank, N.A. 1,900,000 01/23/97
01/24/97 Bank of Pennsylvania 7,000,000 02/11/97
01/27/97 Merchants National Bank 200,000 02/06/97
01/28/97 Fuji Bank 1,000,000 01/29/97
01/29/97 Hamilton Bank 2,700,000 02/06/97
01/31/97 Chase Manhattan Bank 5,200,000 02/21/97
02/03/97 Fuji Bank 8,500,000 02/04/97
02/04/97 Citibank, N.A. 5,000,000 03/04/97
-7-<PAGE>
Penelec cont.
Issue
Date Bank Amount Maturity
02/04/97 First Union National Bank $ 400,000 02/18/97
02/10/97 Citibank, N.A. 4,900,000 02/27/97
02/11/97 Canadian Imperial Bank 3,400,000 02/18/97
02/13/97 Chase Manhattan Bank 4,100,000 03/21/97
02/14/97 Mellon Bank, N.A. 1,700,000 02/18/97
02/18/97 Union Bank of Switzerland 800,000 03/05/97
02/19/97 Mellon Bank, N.A. 3,600,000 02/20/97
02/20/97 Citibank, N.A. 1,900,000 03/10/97
02/24/97 Citibank, N.A. 2,900,000 03/26/97
02/26/97 Morgan Guaranty Trust 10,000,000 03/12/97
02/26/97 Morgan Guaranty Trust 10,000,000 03/19/97
02/26/97 Summit Bank 5,500,000 03/06/97
02/27/97 Mellon Bank, N.A. 5,500,000 02/28/97
03/03/97 Banca Popolare Di Milano 4,700,000 03/24/97
03/04/97 Canadian Imperial Bank 6,900,000 04/07/97
03/05/97 Mellon Bank, N.A. 10,300,000 03/27/97
03/06/97 Citibank, N.A. 2,200,000 03/13/97
03/07/97 Chase Manhattan Bank 3,200,000 03/10/97
03/10/97 Chase Manhattan Bank 1,300,000 03/25/97
03/11/97 Fuji Bank 5,600,000 03/28/97
03/12/97 Chase Manhattan Bank 6,000,000 04/08/97
03/12/97 Chase Manhattan Bank 7,300,000 04/09/97
03/14/97 Credit Lyonnais 5,700,000 04/02/97
03/17/97 Chase Manhattan Bank 14,000,000 04/10/97
03/17/97 Banca Popolare Di Milano 4,000,000 04/04/97
03/17/97 Chase Manhattan Bank 14,000,000 04/11/97
03/18/97 First Union National Bank 4,800,000 04/08/97
03/21/97 Mellon Bank, N.A. 600,000 03/24/97
03/21/97 Merchants National Bank 100,000 04/04/97
03/24/97 Fuji Bank 1,300,000 03/28/97
03/26/97 Chase Manhattan Bank 1,200,000 04/09/97
03/28/97 Swiss Bank Corp. 9,400,000 04/16/97
Each such unsecured promissory note bears interest at a
rate (after giving effect to any fees or compensating balance
requirements) not exceeding 125% of the greater of (A) the
lending bank's prime rate for commercial borrowings in effect
from time to time, and (B) the Federal Funds Rate plus 1/2 of 1%,
as in effect at the date of borrowing.
During the period of January 1, 1997 through March 31, 1997,
the Companies repaid unsecured promissory notes issued to banks,
as follows:
-8-<PAGE>
GPU
Date Bank Amount
01/03/97 Banca Popolare Di Milano $ 4,600,000
01/14/97 Chase Manhattan Bank 10,000,000
01/17/97 Chase Manhattan Bank 6,900,000
01/17/97 Merchants National Bank 100,000
01/22/97 Summit Bank 10,900,000
01/23/97 Merchants National Bank 200,000
01/23/97 Banca Popolare Di Milano 4,500,000
01/23/97 Summit Bank 3,500,000
01/23/97 Merchants National Bank 100,000
01/27/97 Summit Bank 5,600,000
01/28/97 Mellon Bank, N.A. 4,700,000
01/29/97 Union Bank of Switzerland 6,500,000
01/31/97 Chase Manhattan Bank 6,700,000
02/03/97 Canadian Imperial Bank 2,900,000
02/07/97 PNC Bank 11,100,000
02/13/97 Banca Popolare Di Milano 10,100,000
02/18/97 Union Bank of Switzerland 4,800,000
02/21/97 Union Bank of Switzerland 3,700,000
02/21/97 Union Bank of Switzerland 8,300,000
02/24/97 Merchants National Bank 200,000
02/24/97 Summit Bank 8,400,000
02/26/97 Summit Bank 5,700,000
02/28/97 Banca Popolare Di Milano 6,600,000
03/03/97 Chase Manhattan Bank 2,000,000
03/04/97 Summit Bank 5,000,000
03/05/97 Banca Popolare Di Milano 3,300,000
03/10/97 Credit Lyonnais 11,300,000
03/14/97 Banca Popolare Di Milano 10,100,000
03/18/97 Union Bank of Switzerland 5,200,000
03/19/97 Credit Lyonnais 4,900,000
03/21/97 Canadian Imperial Bank 7,600,000
03/24/97 Union Bank of Switzerland 5,300,000
03/24/97 Chase Manhattan Bank 1,900,000
03/26/97 Credit Lyonnais 10,000,000
03/26/97 Merchants National Bank 400,000
03/27/97 Credit Lyonnais 9,300,000
03/28/97 First Union National Bank 3,300,000
JCP&L
Date Bank Amount
01/03/97 Chase Manhattan Bank $ 8,600,000
01/06/97 PNC Bank 14,400,000
01/07/97 Bank of New York 17,400,000
01/08/97 Banca Popolare Di Milano 8,600,000
01/09/97 Citibank, N.A. 13,000,000
01/10/97 Mellon Bank, N.A. 6,700,000
01/16/97 Chase Manhattan Bank 9,700,000
01/23/97 Fuji Bank 5,600,000
-9-<PAGE>
JCP&L cont.
Date Bank Amount
01/24/97 Citibank, N.A. $ 1,700,000
01/24/97 Fuji Bank 4,800,000
01/28/97 Chase Manhattan Bank 1,000,000
02/03/97 Chase Manhattan Bank 7,800,000
02/04/97 Fuji Bank 3,000,000
02/07/97 Hamilton Bank 6,500,000
02/10/97 Chase Manhattan Bank 13,200,000
02/13/97 Mellon Bank, N.A. 4,000,000
02/13/97 Chase Manhattan Bank 4,000,000
02/14/97 Mellon Bank, N.A. 16,000,000
02/18/97 Chase Manhattan Bank 4,200,000
02/18/97 Chase Manhattan Bank 8,200,000
02/19/97 Citibank, N.A. 3,100,000
02/19/97 Canadian Imperial Bank 10,000,000
02/20/97 Fuji Bank 9,400,000
02/24/97 Mellon Bank, N.A. 10,300,000
02/25/97 Fuji Bank 3,700,000
02/25/97 Union Bank of Switzerland 3,600,000
02/28/97 Mellon Bank, N.A. 5,700,000
03/05/97 Citibank, N.A. 3,700,000
03/05/97 Chase Manhattan Bank 5,000,000
03/10/97 Mellon Bank, N.A. 4,100,000
03/11/97 Mellon Bank, N.A. 5,600,000
03/11/97 Banca Popolare Di Milano 3,900,000
03/17/97 Banca Popolare Di Milano 5,200,000
03/17/97 Citibank, N.A. 5,000,000
03/18/97 Fuji Bank 1,000,000
03/18/97 Chase Manhattan Bank 3,200,000
03/19/97 Chase Manhattan Bank 3,800,000
03/19/97 Fuji Bank 3,400,000
03/20/97 Fuji Bank 3,800,000
03/20/97 Fuji Bank 1,900,000
03/21/97 Citibank, N.A. 6,700,000
03/24/97 Fuji Bank 3,700,000
03/24/97 Mellon Bank, N.A. 5,200,000
Met-Ed
Date Bank Amount
01/03/97 First Union National Bank $ 2,600,000
01/06/97 PNC Bank 9,800,000
01/07/97 Bank of New York 14,600,000
01/08/97 Bank of New York 12,600,000
01/09/97 Fuji Bank 8,700,000
01/10/97 Bank of New York 7,900,000
01/13/97 Banca Popolare Di Milano 5,000,000
01/14/97 Chase Manhattan Bank 10,000,000
01/16/97 Chase Manhattan Bank 12,600,000
01/17/97 Chase Manhattan Bank 10,000,000
-10-
<PAGE>
Met-Ed cont.
Date Bank Amount
01/17/97 Merchants National Bank $ 200,000
01/22/97 Canadian Imperial Bank 5,600,000
01/23/97 Citibank, N.A. 1,400,000
01/23/97 Mellon Bank, N.A. 4,000,000
01/24/97 Canadian Imperial Bank 9,100,000
01/27/97 Chase Manhattan Bank 3,800,000
01/28/97 Fuji Bank 2,500,000
01/30/97 Chase Manhattan Bank 3,600,000
02/04/97 Citibank, N.A. 4,900,000
02/05/97 Chase Manhattan Bank 600,000
02/06/97 Chase Manhattan Bank 5,100,000
02/10/97 Chase Manhattan Bank 5,000,000
02/12/97 First Union National Bank 1,700,000
02/13/97 Union Bank of Switzerland 1,100,000
02/14/97 First Union National Bank 6,800,000
02/19/97 First Union National Bank 6,000,000
02/21/97 Fuji Bank 7,500,000
02/24/97 First Union National Bank 3,600,000
02/25/97 Chase Manhattan Bank 4,700,000
02/27/97 Union Bank of Switzerland 5,400,000
02/28/97 Mellon Bank, N.A. 2,500,000
03/03/97 Canadian Imperial Bank 6,100,000
03/04/97 Mellon Bank, N.A. 2,900,000
03/04/97 Merchants National Bank 100,000
03/05/97 Mellon Bank, N.A. 3,100,000
03/06/97 Bank of New York 4,800,000
03/07/97 Chase Manhattan Bank 4,700,000
03/07/97 Chase Manhattan Bank 700,000
03/10/97 Credit Lyonnais 7,100,000
03/11/97 Banca Popolare Di Milano 1,200,000
03/11/97 Chase Manhattan Bank 5,300,000
03/12/97 Chase Manhattan Bank 10,500,000
03/13/97 Chase Manhattan Bank 2,000,000
03/14/97 Fuji Bank 2,400,000
03/18/97 Union Bank of Switzerland 4,500,000
03/20/97 Fuji Bank 2,700,000
03/24/97 Chase Manhattan Bank 5,500,000
03/27/97 Fuji Bank 4,200,000
03/28/97 Fuji Bank 1,500,000
03/31/97 Fuji Bank 2,000,000
Penelec
Date Bank Amount
01/03/97 Johnstown Bank & Trust $ 8,000,000
01/06/97 Canadian Imperial Bank 13,200,000
01/07/97 First Union National Bank 10,000,000
01/08/97 Fuji Bank 18,300,000
01/09/97 First Union National Bank 15,200,000
-11-<PAGE>
Penelec cont.
Date Bank Amount
01/10/97 Mellon Bank, N.A. $ 3,500,000
01/13/97 First Union National Bank 10,000,000
01/16/97 Mellon Bank, N.A. 10,700,000
01/17/97 Canadian Imperial Bank 900,000
01/21/97 Bank of Pennsylvania 14,000,000
01/22/97 Hamilton Bank 10,000,000
01/23/97 Mellon Bank, N.A. 1,900,000
01/24/97 Morgan Guaranty Trust 10,000,000
01/27/97 Mellon Bank, N.A. 4,300,000
01/28/97 Fuji Bank 3,000,000
01/29/97 Fuji Bank 1,000,000
02/04/97 Fuji Bank 8,500,000
02/06/97 Merchants National Bank 200,000
02/06/97 Hamilton Bank 2,700,000
02/10/97 Citibank, N.A. 10,000,000
02/11/97 Bank of Pennsylvania 7,000,000
02/13/97 Chase Manhattan Bank 4,900,000
02/18/97 Mellon Bank, N.A. 1,700,000
02/18/97 Canadian Imperial Bank 3,400,000
02/18/97 First Union National Bank 400,000
02/20/97 Mellon Bank, N.A. 3,600,000
02/21/97 Chase Manhattan Bank 5,200,000
02/27/97 Citibank, N.A. 4,900,000
02/28/97 Mellon Bank, N.A. 5,500,000
03/04/97 Citibank, N.A. 5,000,000
03/05/97 Union Bank of Switzerland 800,000
03/06/97 Summit Bank 5,500,000
03/10/97 Chase Manhattan Bank 3,200,000
03/10/97 Citibank, N.A. 1,900,000
03/12/97 Morgan Guaranty Trust 10,000,000
03/13/97 Citibank, N.A. 2,200,000
03/19/97 Morgan Guaranty Trust 10,000,000
03/21/97 Chase Manhattan Bank 4,100,000
03/24/97 Banca Popolare Di Milano 4,700,000
03/24/97 Mellon Bank, N.A. 600,000
03/25/97 Chase Manhattan Bank 1,300,000
03/26/97 Citibank, N.A. 2,900,000
03/27/97 Mellon Bank, N.A. 10,300,000
03/28/97 Fuji Bank 1,300,000
03/28/97 Fuji Bank 5,600,000
To summarize the above transactions, at March 31, 1997
the GPU Companies had outstanding unsecured promissory notes
pursuant to informal bank lines of credit as follows:
GPU $87,000,000
JCP&L 7,900,000
Met-Ed 35,290,000
Penelec 73,400,000
-12-<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935, THE UNDERSIGNED COMPANIES HAVE DULY
CAUSED THIS STATEMENT TO BE SIGNED ON THEIR BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By: /s/ T. G. Howson
T. G. Howson
Vice President and Treasurer
Date: April 4, 1997<PAGE>
