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
Metropolitan Edison Company : Pursuant To Rule
Pennsylvania Electric Company : 24 of Partial
: 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-<PAGE>
1. During the period April 1, 1997 through June 30,
1997, the GPU Companies issued no promissory notes representing
borrowings under the Amended and Restated Credit Agreement, dated
as of July 3, 1996, as amended including by Amendment No. 1 dated
as of March 31, 1997, 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 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
3. During the period April 1,1997 through June 30,
1997, JCP&L, Met-Ed, and Penelec issued and sold (and paid at
maturity where such commercial paper matured on or before June
30, 1997) unsecured short-term promissory notes as commercial
paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
04/01/97 04/22/97 $15,000,000
04/01/97 05/02/97 15,000,000
04/01/97 04/08/97 10,000,000
04/01/97 04/15/97 10,000,000
04/02/97 04/29/97 7,200,000
04/04/97 05/05/97 15,000,000
04/09/97 05/12/97 16,100,000
-2-
<PAGE>
JCP&L - continued
Date of Issuance Maturity Date Amount
04/11/97 04/17/97 $ 9,700,000
04/15/97 05/08/97 20,000,000
04/15/97 05/07/97 20,000,000
04/17/97 04/24/97 8,700,000
04/18/97 05/06/97 17,700,000
04/22/97 05/13/97 14,500,000
04/23/97 05/14/97 15,000,000
04/29/97 05/23/97 9,000,000
05/02/97 05/28/97 20,000,000
05/05/97 06/09/97 15,000,000
05/06/97 06/11/97 13,000,000
05/07/97 06/16/97 17,000,000
05/09/97 06/06/97 8,000,000
05/14/97 06/13/97 10,500,000
05/16/97 05/21/97 5,100,000
05/19/97 06/17/97 10,000,000
05/21/97 06/19/97 10,000,000
05/22/97 06/24/97 14,300,000
05/27/97 06/26/97 14,000,000
05/28/97 06/18/97 13,500,000
05/29/97 06/03/97 5,600,000
06/04/97 06/25/97 10,800,000
06/06/97 06/13/97 14,500,000
06/10/97 07/11/97 10,700,000
06/11/97 06/27/97 22,000,000
06/12/97 06/19/97 2,700,000
06/13/97 07/07/97 12,500,000
06/13/97 07/03/97 12,500,000
06/16/97 06/30/97 17,000,000
06/18/97 07/14/97 20,000,000
06/19/97 07/09/97 15,900,000
06/24/97 06/25/97 6,500,000
06/25/97 07/23/97 8,000,000
06/25/97 07/16/97 8,900,000
06/26/97 07/24/97 12,200,000
06/27/97 07/11/97 16,000,000
06/30/97 07/15/97 27,400,000
Met-Ed
Date of Issuance Maturity Date Amount
04/02/97 04/23/97 $16,600,000
04/08/97 04/17/97 7,000,000
04/09/97 04/30/97 8,200,000
04/10/97 05/06/97 11,100,000
04/15/97 05/02/97 10,000,000
-3-<PAGE>
Met-Ed - continued
Date of Issuance Maturity Date Amount
04/15/97 04/28/97 $ 10,000,000
04/17/97 04/18/97 7,000,000
04/18/97 04/25/97 6,700,000
04/23/97 05/14/97 17,000,000
05/02/97 05/28/97 20,000,000
05/06/97 05/27/97 9,500,000
05/14/97 06/13/97 16,500,000
05/21/97 06/09/97 7,300,000
05/27/97 06/12/97 6,400,000
05/28/97 06/11/97 13,400,000
05/28/97 06/05/97 10,000,000
05/28/97 05/29/97 10,000,000
05/29/97 06/03/97 5,000,000
05/29/97 05/30/97 6,500,000
05/30/97 06/19/97 5,600,000
06/02/97 06/16/97 10,800,000
06/04/97 06/12/97 5,000,000
06/05/97 06/06/97 7,400,000
06/06/97 06/09/97 8,100,000
06/11/97 06/18/97 13,100,000
06/12/97 06/13/97 10,100,000
06/13/97 06/19/97 10,000,000
06/13/97 06/17/97 10,600,000
06/17/97 06/24/97 13,100,000
06/18/97 07/07/97 17,700,000
06/20/97 06/27/97 19,300,000
06/23/97 06/30/97 3,500,000
06/26/97 07/17/97 12,600,000
Penelec
Date of Issuance Maturity Date Amount
04/02/97 04/23/97 $20,100,000
04/09/97 04/29/97 7,100,000
04/10/97 05/05/97 7,900,000
04/11/97 04/17/97 11,800,000
04/15/97 05/08/97 10,000,000
04/15/97 05/06/97 10,000,000
04/17/97 04/22/97 11,200,000
04/18/97 05/09/97 9,700,000
04/22/97 05/12/97 11,000,000
05/01/97 05/21/97 13,000,000
05/06/97 05/27/97 7,600,000
05/09/97 06/09/97 7,300,000
05/14/97 06/11/97 20,000,000
05/27/97 06/13/97 6,200,000
-4-<PAGE>
Penelec - continued
Date of Issuance Maturity Date Amount
05/28/97 06/03/97 $12,200,000
05/28/97 05/29/97 12,400,000
05/29/97 06/04/97 20,300,000
05/30/97 06/05/97 5,300,000
06/02/97 06/09/97 24,500,000
06/03/97 06/05/97 16,400,000
06/04/97 06/06/97 19,000,000
06/05/97 06/10/97 23,000,000
06/06/97 06/09/97 19,000,000
06/09/97 06/13/97 24,600,000
06/10/97 06/13/97 31,100,000
06/11/97 06/17/97 38,100,000
06/13/97 06/23/97 19,900,000
06/17/97 06/27/97 18,900,000
06/23/97 06/26/97 17,700,000
06/26/97 07/24/97 9,000,000
06/27/97 07/28/97 10,000,000
To summarize the above transactions, at June 30, 1997,
JCP&L, Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $144,100,000
Met-Ed 30.300,000
Penelec 19,000,000
4. At the close of business on March 31, 1997, the GPU
Companies had outstanding unsecured short-term promissory notes
representing bank borrowings under informal bank lines, as
follows:
Company Amount
GPU $87,000,000
JCP&L 7,900,000
Met-Ed 35,290,000
Penelec 73,400,000
-5-<PAGE>
During the period April 1, 1997 through June 30, 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
04/01/97 Chase Manhattan Bank $ 3,200,000 04/29/97
04/02/97 Summit Bank 8,300,000 04/16/97
04/03/97 Banca Popolare Di Milano 5,600,000 04/24/97
04/03/97 Fuji Bank 2,000,000 04/24/97
04/04/97 Credit Agricole 5,200,000 04/22/97
04/07/97 Canadian Imperial Bank 6,000,000 05/07/97
04/08/97 Credit Lyonnais 9,100,000 05/08/97
04/09/97 Summit Bank 6,300,000 05/09/97
04/10/97 Credit Lyonnais 8,600,000 05/12/97
04/11/97 Credit Lyonnais 7,100,000 05/09/97
04/14/97 Fuji Bank 10,200,000 05/14/97
04/16/97 Summit Bank 8,300,000 05/05/97
04/17/97 Summit Bank 5,200,000 05/16/97
04/22/97 Fuji Bank 5,000,000 05/22/97
04/24/97 Banca Popolare Di Milano 7,600,000 05/13/97
04/25/97 Chase Manhattan Bank 10,600,000 05/27/97
04/29/97 First Union National Bank 3,200,000 05/15/97
05/05/97 Summit Bank 7,900,000 05/19/97
05/06/97 Merchants National Bank 100,000 05/19/97
05/07/97 PNC Bank 6,100,000 06/06/97
05/08/97 Credit Agricole 9,100,000 05/21/97
05/09/97 Summit Bank 6,900,000 05/29/97
05/09/97 Credit Lyonnais 6,600,000 06/09/97
05/12/97 Credit Agricole 8,400,000 06/03/97
05/13/97 Credit Lyonnais 7,600,000 06/12/97
05/14/97 Banca Popolare Di Milano 10,300,000 06/11/97
05/15/97 Credit Lyonnais 3,400,000 06/13/97
05/16/97 Credit Lyonnais 5,200,000 06/20/97
05/19/97 Summit Bank 8,100,000 06/17/97
05/21/97 First Union National Bank 9,200,000 06/10/97
05/22/97 Banca Popolare Di Milano 6,500,000 06/18/97
05/27/97 Chase Manhattan Bank 10,800,000 06/19/97
05/28/97 Morgan Guaranty Trust 10,300,000 06/23/97
05/29/97 Summit Bank 5,600,000 06/27/97
06/02/97 Merchants National Bank 100,000 06/16/97
06/03/97 Credit Agricole 5,400,000 06/24/97
06/03/97 Citibank, N.A. 3,000,000 06/17/97
06/04/97 Merchants National Bank 100,000 06/24/97
06/06/97 Fuji Bank 5,800,000 06/13/97
06/09/97 Credit Lyonnais 6,600,000 06/30/97
06/10/97 Chase Manhattan Bank 6,700,000 06/24/97
06/10/97 Citibank, N.A. 2,500,000 06/25/97
06/11/97 Credit Agricole 7,900,000 06/18/97
06/11/97 Banca Popolare Di Milano 5,100,000 06/20/97
06/12/97 Morgan Guaranty Trust 5,200,000 06/30/97
-6-<PAGE>
GPU - continued
Issue
Date Bank Amount Maturity
06/13/97 Credit Lyonnais $ 9,200,000 06/26/97
06/16/97 Merchants National Bank 300,000 06/30/97
06/17/97 Canadian Imperial Bank 11,200,000 06/25/97
06/18/97 First Union National Bank 14,400,000 07/09/97
06/19/97 Chase Manhattan Bank 10,800,000 06/26/97
06/20/97 Credit Agricole 10,400,000 06/27/97
06/23/97 Bank of Pennsylvania 9,300,000 07/07/97
06/23/97 Bank of New York 1,000,000 06/24/97
06/24/97 Union Bank of Switzerland 13,300,000 07/22/97
06/25/97 Canadian Imperial Bank 9,700,000 07/16/97
06/25/97 Canadian Imperial Bank 9,000,000 07/23/97
06/26/97 Chase Manhattan Bank 17,500,000 07/24/97
06/26/97 Swiss Bank Corp. 2,500,000 07/03/97
06/27/97 Credit Agricole 16,000,000 07/11/97
06/30/97 Bank of New York 6,700,000 07/10/97
06/30/97 Swiss Bank Corp. 5,500,000 07/08/97
-7-<PAGE>
JCP&L
Issue
Date Bank Amount Maturity
04/01/97 PNC Bank $20,000,000 04/23/97
04/01/97 PNC Bank 10,000,000 04/21/97
04/01/97 PNC Bank 20,000,000 04/25/97
04/01/97 Canadian Imperial Bank 10,000,000 04/14/97
04/01/97 PNC Bank 19,600,000 04/11/97
04/01/97 Chase Manhattan Bank 20,000,000 04/18/97
04/01/97 Chase Manhattan Bank 10,000,000 04/16/97
04/01/97 Citibank, N.A. 15,000,000 04/28/97
04/01/97 Fuji Bank 18,000,000 04/09/97
04/01/97 First Union National Bank 20,000,000 04/04/97
04/03/97 PNC Bank 2,500,000 04/07/97
04/08/97 Credit Lyonnais 5,300,000 04/10/97
04/15/97 Chase Manhattan Bank 7,900,000 04/24/97
04/16/97 Chase Manhattan Bank 2,100,000 04/29/97
04/16/97 Fuji Bank 1,000,000 04/29/97
04/21/97 Banca Popolare Di Milano 4,700,000 05/09/97
04/24/97 Chase Manhattan Bank 8,200,000 05/09/97
04/25/97 Chase Manhattan Bank 22,000,000 05/19/97
04/28/97 Chase Manhattan Bank 2,200,000 05/15/97
04/30/97 Chase Manhattan Bank 10,200,000 05/16/97
05/01/97 PNC Bank 20,000,000 05/22/97
05/01/97 PNC Bank 21,000,000 05/27/97
05/02/97 Credit Agricole 4,600,000 05/21/97
05/05/97 Merchants National Bank 100,000 05/19/97
05/05/97 Chase Manhattan Bank 6,200,000 05/29/97
05/07/97 First Union National Bank 3,600,000 05/15/97
05/08/97 Chase Manhattan Bank 11,800,000 06/23/97
05/12/97 Chase Manhattan Bank 6,000,000 05/29/97
05/13/97 Credit Lyonnais 14,600,000 06/12/97
05/15/97 Chase Manhattan Bank 4,000,000 06/10/97
05/19/97 Chase Manhattan Bank 2,000,000 06/05/97
05/20/97 Credit Lyonnais 5,800,000 06/18/97
05/21/97 Mellon Bank, N.A. 14,700,000 06/10/97
05/23/97 Citibank, N.A. 3,400,000 06/25/97
05/28/97 Credit Lyonnais 6,800,000 06/18/97
05/28/97 Morgan Guaranty Trust 10,000,000 06/11/97
05/28/97 Citibank, N.A. 8,600,000 06/06/97
05/30/97 Chase Manhattan Bank 15,200,000 06/20/97
06/02/97 Merchants National Bank 400,000 06/16/97
06/03/97 Chase Manhattan Bank 2,500,000 06/30/97
06/10/97 Summit Bank 6,300,000 07/08/97
06/12/97 Chase Manhattan Bank 7,600,000 06/19/97
06/16/97 Citibank, N.A. 6,100,000 06/23/97
06/16/97 Credit Lyonnais 10,000,000 06/30/97
06/16/97 Bank of New York 9,800,000 06/17/97
06/17/97 First Union National Bank 15,600,000 07/08/97
06/18/97 Banca Popolare Di Milano 3,800,000 07/09/97
06/20/97 Credit Agricole 1,200,000 06/26/97
06/20/97 Banca Popolare Di Milano 16,200,000 07/10/97
06/23/97 Bank of Pennsylvania 5,500,000 07/11/97
06/24/97 Chase Manhattan Bank 6,700,000 06/25/97
-8-<PAGE>
Met-Ed
Issue
Date Bank Amount Maturity
04/07/97 PNC Bank $ 1,200,000 04/11/97
04/14/97 Chase Manhattan Bank 4,200,000 04/16/97
04/15/97 Chase Manhattan Bank 7,500,000 04/24/97
04/15/97 Chase Manhattan Bank 7,000,000 04/22/97
04/16/97 Credit Agricole 3,600,000 04/18/97
04/22/97 Credit Agricole 2,300,000 04/29/97
04/24/97 Chase Manhattan Bank 3,600,000 05/09/97
04/25/97 Chase Manhattan Bank 5,800,000 05/05/97
04/28/97 Citibank, N.A. 7,600,000 05/12/97
04/30/97 Chase Manhattan Bank 10,400,000 05/07/97
05/01/97 Citibank, N.A. 3,000,000 05/08/97
05/02/97 Fuji Bank 4,500,000 05/16/97
05/05/97 Chase Manhattan Bank 1,500,000 05/13/97
05/07/97 First Union National Bank 7,000,000 05/15/97
05/07/97 First Union National Bank 6,700,000 05/19/97
05/08/97 First Union National Bank 400,000 05/13/97
05/09/97 Banca Popolare Di Milano 2,000,000 05/22/97
05/12/97 Citibank, N.A. 4,000,000 05/21/97
05/16/97 Summit Bank 1,000,000 05/23/97
05/19/97 Citibank, N.A. 3,000,000 05/29/97
05/20/97 First Union National Bank 1,800,000 06/11/97
06/02/97 Merchants National Bank 100,000 06/16/97
06/03/97 Chase Manhattan Bank 1,000,000 06/24/97
06/04/97 Banca Popolare Di Milano 1,900,000 06/17/97
06/05/97 Chase Manhattan Bank 200,000 06/06/97
06/09/97 Bank of New York 3,200,000 06/10/97
06/10/97 Bank of New York 1,000,000 06/11/97
06/16/97 Chase Manhattan Bank 14,400,000 06/20/97
06/16/97 Fuji Bank 7,400,000 06/23/97
06/19/97 First Union National Bank 10,400,000 07/10/97
06/19/97 Bank of New York 3,200,000 06/20/97
06/24/97 Bank of New York 10,800,000 06/25/97
06/25/97 Bank of New York 10,600,000 06/26/97
06/27/97 Credit Agricole 17,000,000 07/11/97
06/30/97 Hamilton Bank 1,900,000 07/08/97
Penelec
Issue
Date Bank Amount Maturity
04/01/97 First Union National Bank $ 900,000 04/08/97
04/03/97 Morgan Guaranty Trust 12,000,000 04/28/97
04/04/97 Canadian Imperial Bank 1,700,000 04/21/97
04/07/97 PNC Bank 1,000,000 04/15/97
04/08/97 Morgan Guaranty Trust 9,700,000 04/18/97
04/14/97 Chase Manhattan Bank 4,300,000 04/21/97
04/15/97 Chase Manhattan Bank 3,200,000 04/24/97
04/16/97 Banca Popolare Di Milano 6,600,000 04/25/97
-9-<PAGE>
Penelec - continued
Issue
Date Bank Amount Maturity
04/16/97 Swiss Bank Corp. $ 9,429,457 04/17/97
04/23/97 Morgan Guaranty Trust 21,000,000 05/14/97
04/25/97 Banca Popolare Di Milano 7,700,000 05/16/97
04/28/97 Chase Manhattan Bank 14,400,000 05/19/97
04/29/97 Chase Manhattan Bank 5,700,000 05/13/97
04/30/97 Morgan Guaranty Trust 3,300,000 05/07/97
05/02/97 Merchants National Bank 500,000 05/09/97
05/02/97 Citibank, N.A. 4,300,000 05/07/97
05/05/97 Chase Manhattan Bank 1,300,000 05/20/97
05/07/97 Citibank, N.A. 3,800,000 05/23/97
05/08/97 Chase Manhattan Bank 6,400,000 05/29/97
05/12/97 Citibank, N.A. 7,500,000 05/28/97
05/13/97 Chase Manhattan Bank 3,200,000 06/03/97
05/16/97 Summit Bank 2,600,000 06/05/97
05/19/97 First Union National Bank 10,500,000 06/10/97
05/20/97 First Union National Bank 2,000,000 06/12/97
05/21/97 Morgan Guaranty Trust 12,100,000 06/06/97
05/22/97 Banca Popolare Di Milano 1,300,000 06/16/97
05/23/97 First Union National Bank 600,000 06/05/97
06/03/97 Chase Manhattan Bank 6,000,000 06/05/97
06/05/97 Chase Manhattan Bank 4,800,000 06/06/97
06/06/97 Citibank, N.A. 5,800,000 06/13/97
06/06/97 Fuji Bank 14,200,000 06/12/97
06/09/97 Bank of New York 20,000,000 06/10/97
06/10/97 Bank of New York 20,000,000 06/11/97
06/11/97 Banca Popolare Di Milano 5,200,000 06/20/97
06/12/97 Fuji Bank 5,800,000 06/19/97
06/12/97 Morgan Guaranty Trust 10,000,000 06/30/97
06/16/97 Morgan Guaranty Trust 16,600,000 06/24/97
06/17/97 Summit Bank 8,100,000 07/08/97
06/17/97 Canadian Imperial Bank 8,000,000 06/25/97
06/19/97 Credit Agricole 1,800,000 06/26/97
06/20/97 Credit Agricole 1,100,000 06/27/97
06/24/97 Bank of New York 13,400,000 06/25/97
06/25/97 Chase Manhattan Bank 15,400,000 07/16/97
06/25/97 Chase Manhattan Bank 10,400,000 07/23/97
06/26/97 First Union National Bank 10,000,000 07/03/97
06/27/97 Credit Agricole 13,000,000 07/10/97
06/30/97 Hamilton Bank 8,100,000 07/09/97
06/30/97 Swiss Bank Corp. 2,000,000 07/09/97
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
-10-<PAGE>
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 April 1, 1997 through June 30, 1997,
the Companies repaid unsecured promissory notes issued to banks,
as follows:
GPU
Date Bank Amount
04/01/97 Chase Manhattan Bank $ 3,100,000
04/02/97 Summit Bank 8,600,000
04/03/97 Johnstown Bank and Trust 7,600,000
04/04/97 Summit Bank 5,100,000
04/07/97 Hamilton Bank 6,000,000
04/08/97 First Union National Bank 9,100,000
04/09/97 Summit Bank 6,300,000
04/10/97 Chase Manhattan Bank 5,100,000
04/10/97 Hamilton Bank 3,300,000
04/11/97 Bank of Pennsylvania 7,100,000
04/14/97 Banca Popolare Di Milano 10,100,000
04/16/97 Summit Bank 8,300,000
04/17/97 Union Bank of Switzerland 5,100,000
04/17/97 Merchants National Bank 100,000
04/22/97 Credit Agricole 5,200,000
04/24/97 Fuji Bank 2,000,000
04/24/97 Banca Popolare Di Milano 5,600,000
04/25/97 Chase Manhattan Bank 10,400,000
04/29/97 Chase Manhattan Bank 3,200,000
05/05/97 Summit Bank 8,300,000
05/07/97 Canadian Imperial Bank 6,000,000
05/08/97 Credit Lyonnais 9,100,000
05/09/97 Summit Bank 6,300,000
05/09/97 Credit Lyonnais 7,100,000
05/12/97 Credit Lyonnais 8,600,000
05/13/97 Banca Popolare Di Milano 7,600,000
05/14/97 Fuji Bank 10,200,000
05/15/97 First Union National Bank 3,200,000
05/16/97 Summit Bank 5,200,000
05/19/97 Summit Bank 7,900,000
05/19/97 Merchants National Bank 100,000
05/21/97 Credit Agricole 9,100,000
05/22/97 Fuji Bank 5,000,000
05/27/97 Chase Manhattan Bank 10,600,000
05/29/97 Summit Bank 6,900,000
06/03/97 Credit Agricole 8,400,000
06/06/97 PNC Bank 6,100,000
06/09/97 Credit Lyonnais 6,600,000
06/10/97 First Union National Bank 9,200,000
06/11/97 Banca Popolare Di Milano 10,300,000
06/12/97 Credit Lyonnais 7,600,000
06/13/97 Fuji Bank 5,800,000
-11-<PAGE>
GPU - continued
Date Bank Amount
06/13/97 Credit Lyonnais $ 3,400,000
06/16/97 Merchants National Bank 100,000
06/17/97 Citibank, N.A. 3,000,000
06/17/97 Summit Bank 8,100,000
06/18/97 Credit Agricole 7,900,000
06/18/97 Banca Popolare Di Milano 6,500,000
06/19/97 Chase Manhattan Bank 10,800,000
06/20/97 Credit Lyonnais 5,200,000
06/20/97 Banca Popolare Di Milano 5,100,000
06/23/97 Morgan Guaranty Trust 10,300,000
06/24/97 Bank of New York 1,000,000
06/24/97 Merchants National Bank 100,000
06/24/97 Chase Manhattan Bank 6,700,000
06/24/97 Credit Agricole 5,400,000
06/25/97 Citibank, N.A. 2,500,000
06/25/97 Canadian Imperial Bank 11,200,000
06/26/97 Chase Manhattan Bank 10,800,000
06/26/97 Credit Lyonnais 9,200,000
06/27/97 Summit Bank 5,600,000
06/27/97 Credit Agricole 10,400,000
06/30/97 Credit Lyonnais 6,600,000
06/30/97 Merchants National Bank 300,000
06/30/97 Morgan Guaranty Trust 5,200,000
JCP&L
Date Bank Amount
04/04/97 First Union National Bank $20,000,000
04/07/97 Bank of Pennsylvania 7,900,000
04/07/97 PNC Bank 2,500,000
04/09/97 Fuji Bank 18,000,000
04/10/97 Credit Lyonnais 5,300,000
04/11/97 PNC Bank 19,600,000
04/14/97 Canadian Imperial Bank 10,000,000
04/16/97 Chase Manhattan Bank 10,000,000
04/18/97 Chase Manhattan Bank 20,000,000
04/21/97 PNC Bank 10,000,000
04/23/97 PNC Bank 20,000,000
04/24/97 Chase Manhattan Bank 7,900,000
04/25/97 PNC Bank 20,000,000
04/28/97 Citibank, N.A. 15,000,000
04/29/97 Chase Manhattan Bank 2,100,000
04/29/97 Fuji Bank 1,000,000
05/09/97 Chase Manhattan Bank 8,200,000
05/09/97 Banca Popolare Di Milano 4,700,000
05/15/97 Chase Manhattan Bank 2,200,000
05/15/97 First Union National Bank 3,600,000
05/16/97 Chase Manhattan Bank 10,200,000
05/19/97 Chase Manhattan Bank 22,000,000
-12-<PAGE>
JCP&L - continued
Date Bank Amount
05/19/97 Merchants National Bank $ 100,000
05/21/97 Credit Agricole 4,600,000
05/22/97 PNC Bank 20,000,000
05/27/97 PNC Bank 21,000,000
05/29/97 Chase Manhattan Bank 6,200,000
05/29/97 Chase Manhattan Bank 6,000,000
06/05/97 Chase Manhattan Bank 2,000,000
06/06/97 Citibank, N.A. 8,600,000
06/10/97 Mellon Bank, N.A. 14,700,000
06/10/97 Chase Manhattan Bank 4,000,000
06/11/97 Morgan Guaranty Trust 10,000,000
06/12/97 Credit Lyonnais 14,600,000
06/16/97 Merchants National Bank 400,000
06/17/97 Bank of New York 9,800,000
06/18/97 Credit Lyonnais 6,800,000
06/18/97 Credit Lyonnais 5,800,000
06/19/97 Chase Manhattan Bank 7,600,000
06/20/97 Chase Manhattan Bank 15,200,000
06/23/97 Chase Manhattan Bank 11,800,000
06/23/97 Citibank, N.A. 6,100,000
06/25/97 Chase Manhattan Bank 6,700,000
06/25/97 Citibank, N.A. 3,400,000
06/26/97 Credit Agricole 1,200,000
06/30/97 Chase Manhattan Bank 2,500,000
06/30/97 Credit Lyonnais 10,000,000
Met-Ed
Date Bank Amount
04/02/97 Merchants National Bank $ 100,000
04/03/97 First Union National Bank 1,400,000
04/07/97 Credit Lyonnais 10,000,000
04/08/97 Credit Lyonnais 10,100,000
04/11/97 PNC Bank 1,200,000
04/16/97 Chase Manhattan Bank 4,200,000
04/18/97 Credit Agricole 3,600,000
04/22/97 Chase Manhattan Bank 7,000,000
04/24/97 Chase Manhattan Bank 7,500,000
04/29/97 Credit Agricole 2,300,000
05/05/97 Chase Manhattan Bank 5,800,000
05/07/97 Chase Manhattan Bank 10,400,000
05/08/97 Citibank, N.A. 3,000,000
05/09/97 Chase Manhattan Bank 3,600,000
05/12/97 Citibank, N.A. 7,600,000
05/13/97 Chase Manhattan Bank 1,500,000
05/13/97 First Union National Bank 400,000
05/15/97 First Union National Bank 7,000,000
05/16/97 Fuji Bank 4,500,000
05/19/97 First Union National Bank 6,700,000
05/21/97 Citibank, N.A. 4,000,000
-13-<PAGE>
Met-Ed - continued
Date Bank Amount
05/22/97 Banca Popolare Di Milano $ 2,000,000
05/23/97 Summit Bank 1,000,000
05/29/97 Citibank, N.A. 3,000,000
06/06/97 Chase Manhattan Bank 200,000
06/10/97 Bank of New York 3,200,000
06/10/97 First National Bank 7,205,000
06/10/97 First National Bank 6,485,000
06/11/97 First Union National Bank 1,800,000
06/11/97 Bank of New York 1,000,000
06/16/97 Merchants National Bank 100,000
06/17/97 Banca Popolare Di Milano 1,900,000
06/20/97 Bank of New York 3,200,000
06/20/97 Chase Manhattan Bank 14,400,000
06/23/97 Fuji Bank 7,400,000
06/24/97 Chase Manhattan Bank 1,000,000
06/25/97 Bank of New York 10,800,000
06/26/97 Bank of New York 10,600,000
Penelec
Date Bank Amount
04/02/97 Credit Lyonnais $ 5,700,000
04/04/97 Banca Popolare Di Milano 4,000,000
04/04/97 Merchants National Bank 100,000
04/07/97 Canadian Imperial Bank 6,900,000
04/08/97 First Union National Bank 4,800,000
04/08/97 First Union National Bank 900,000
04/08/97 Chase Manhattan Bank 6,000,000
04/09/97 Chase Manhattan Bank 7,300,000
04/09/97 Chase Manhattan Bank 1,200,000
04/10/97 Chase Manhattan Bank 14,000,000
04/11/97 Chase Manhattan Bank 14,000,000
04/15/97 PNC Bank 1,000,000
04/16/97 Swiss Bank Corp. 9,400,000
04/17/97 Swiss Bank Corp. 9,429,457
04/18/97 Morgan Guaranty Trust 9,700,000
04/21/97 Canadian Imperial Bank 1,700,000
04/21/97 Chase Manhattan Bank 4,300,000
04/24/97 Chase Manhattan Bank 3,200,000
04/25/97 Banca Popolare Di Milano 6,600,000
04/28/97 Morgan Guaranty Trust 12,000,000
05/07/97 Morgan Guaranty Trust 3,300,000
05/07/97 Citibank, N.A. 4,300,000
05/09/97 Merchants National Bank 500,000
05/13/97 Chase Manhattan Bank 5,700,000
05/14/97 Morgan Guaranty Trust 21,000,000
05/16/97 Banca Popolare Di Milano 7,700,000
05/19/97 Chase Manhattan Bank 14,400,000
05/20/97 Chase Manhattan Bank 1,300,000
05/23/97 Citibank, N.A. 3,800,000
-14-<PAGE>
Penelec - continued
Date Bank Amount
05/28/97 Citibank, N.A. $ 7,500,000
05/29/97 Chase Manhattan Bank 6,400,000
06/03/97 Chase Manhattan Bank 3,200,000
06/05/97 Summit Bank 2,600,000
06/05/97 Chase Manhattan Bank 6,000,000
06/05/97 First Union National Bank 600,000
06/06/97 Morgan Guaranty Trust 12,100,000
06/06/97 Chase Manhattan Bank 4,800,000
06/10/97 Bank of New York 20,000,000
06/10/97 First Union National Bank 10,500,000
06/11/97 Bank of New York 20,000,000
06/12/97 First Union National Bank 2,000,000
06/12/97 Fuji Bank 14,200,000
06/13/97 Citibank, N.A. 5,800,000
06/16/97 Banca Popolare Di Milano 1,300,000
06/19/97 Fuji Bank 5,800,000
06/20/97 Banca Popolare Di Milano 5,200,000
06/24/97 Morgan Guaranty Trust 16,600,000
06/25/97 Bank of New York 13,400,000
06/25/97 Canadian Imperial Bank 8,000,000
06/26/97 Credit Agricole 1,800,000
06/27/97 Credit Agricole 1,100,000
06/30/97 Morgan Guaranty Trust 10,000,000
To summarize the above transactions, at June 30, 1997
the GPU Companies had outstanding unsecured promissory notes
pursuant to informal bank lines of credit as follows:
GPU $103,900,000
JCP&L 47,400,000
Met-Ed 29,300,000
Penelec 67,000,000
-15-<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: July 9, 1997<PAGE>
