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 July 1, 1997 through September 30,
1997, the GPU Companies issued no promissory notes representing
borrowings under the Amended and Restated Credit Agreement, dated
<PAGE>
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 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
3. During the period July 1,1997 through September
30, 1997, JCP&L, Met-Ed, and Penelec issued and sold (and
paid at maturity where such commercial paper matured on or
before September 30, 1997) unsecured short-term promissory
notes as commercial paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
07/08/97 07/22/97 $17,600,000
07/09/97 07/23/97 16,000,000
07/10/97 07/17/97 8,900,000
07/14/97 07/28/97 8,800,000
07/15/97 07/29/97 32,100,000
07/16/97 08/04/97 26,600,000
07/17/97 08/08/97 10,600,000
07/22/97 08/19/97 9,700,000
07/23/97 07/30/97 19,700,000
07/24/97 08/07/97 9,100,000
07/25/97 08/15/97 20,200,000
2
<PAGE>
JCP&L continued-
Date of Issuance Maturity Date Amount
07/31/97 08/14/97 $10,300,000
08/01/97 08/08/97 16,400,000
08/08/97 08/11/97 8,000,000
08/08/97 08/13/97 8,500,000
08/12/97 08/26/97 13,700,000
08/15/97 08/22/97 18,100,000
08/20/97 08/21/97 14,700,000
08/20/97 08/25/97 20,700,000
08/22/97 08/25/97 8,400,000
08/25/97 09/08/97 14,300,000
08/26/97 09/09/97 11,100,000
08/27/97 09/03/97 29,100,000
08/27/97 09/10/97 30,100,000
08/28/97 08/29/97 6,800,000
08/29/97 09/05/97 22,800,000
09/03/97 09/04/97 17,000,000
09/03/97 09/08/97 17,000,000
09/03/97 09/09/97 17,600,000
09/05/97 09/12/97 16,600,000
09/08/97 09/15/97 17,200,000
09/09/97 09/17/97 21,800,000
09/16/97 09/23/97 26,100,000
09/19/97 09/26/97 5,900,000
Met-Ed
Date of Issuance Maturity Date Amount
07/03/97 07/09/97 $ 8,600,000
07/07/97 07/08/97 12,300,000
07/08/97 07/14/97 11,100,000
07/09/97 07/16/97 10,000,000
07/10/97 07/15/97 7,600,000
07/11/97 07/18/97 14,800,000
07/14/97 07/21/97 11,300,000
07/15/97 07/22/97 2,200,000
07/16/97 07/23/97 11,500,000
07/17/97 07/24/97 10,200,000
07/18/97 07/25/97 14,000,000
07/21/97 07/28/97 13,900,000
07/23/97 07/30/97 9,900,000
07/24/97 08/07/97 7,800,000
07/25/97 07/29/97 13,200,000
07/29/97 08/05/97 11,700,000
08/01/97 08/08/97 22,400,000
08/08/97 08/11/97 15,900,000
08/08/97 08/15/97 5,400,000
3
<PAGE>
Met-Ed continued-
Date of Issuance Maturity Date Amount
08/12/97 08/19/97 $ 2,400,000
08/13/97 08/19/97 5,500,000
08/14/97 08/15/97 9,400,000
08/15/97 08/22/97 3,500,000
08/19/97 08/26/97 10,900,000
08/20/97 08/21/97 19,400,000
08/22/97 08/25/97 19,500,000
08/25/97 09/02/97 14,200,000
08/26/97 09/09/97 8,700,000
08/27/97 09/03/97 22,600,000
09/02/97 09/09/97 24,400,000
09/03/97 09/10/97 20,000,000
09/05/97 09/08/97 1,800,000
09/09/97 09/15/97 26,200,000
09/10/97 09/12/97 12,000,000
09/10/97 09/16/97 12,000,000
09/11/97 09/18/97 20,500,000
09/12/97 09/19/97 9,200,000
09/15/97 09/22/97 26,000,000
09/17/97 09/24/97 19,300,000
09/19/97 09/25/97 13,700,000
09/19/97 09/26/97 13,700,000
09/23/97 09/30/97 12,100,000
09/25/97 10/06/97 25,000,000
09/26/97 09/29/97 16,300,000
09/26/97 10/10/97 16,200,000
Penelec
Date of Issuance Maturity Date Amount
07/03/97 07/07/97 $ 8,200,000
07/07/97 07/08/97 3,200,000
07/08/97 07/14/97 9,400,000
07/09/97 07/11/97 9,500,000
07/10/97 07/17/97 8,600,000
07/11/97 07/18/97 8,000,000
07/14/97 07/21/97 3,700,000
07/15/97 07/22/97 17,700,000
07/16/97 07/29/97 15,300,000
07/17/97 07/24/97 13,200,000
07/18/97 07/25/97 8,000,000
07/22/97 08/04/97 16,000,000
07/23/97 07/30/97 8,300,000
07/24/97 08/07/97 9,300,000
07/24/97 08/14/97 10,000,000
07/25/97 08/08/97 6,400,000
4
<PAGE>
Penelec continued-
Date of Issuance Maturity Date Amount
07/29/97 08/12/97 $17,000,000
07/31/97 08/13/97 7,300,000
08/01/97 08/08/97 14,500,000
08/08/97 08/15/97 17,200,000
08/11/97 08/15/97 8,500,000
08/12/97 08/19/97 17,700,000
08/13/97 08/20/97 5,700,000
08/14/97 08/21/97 12,200,000
08/15/97 08/22/97 27,000,000
08/19/97 08/26/97 12,300,000
08/22/97 08/25/97 25,700,000
08/25/97 09/02/97 22,500,000
08/26/97 08/29/97 9,400,000
08/27/97 09/03/97 400,000
08/27/97 09/03/97 16,700,000
09/02/97 09/09/97 27,400,000
09/03/97 09/10/97 26,400,000
09/05/97 09/08/97 15,400,000
09/08/97 09/15/97 9,700,000
09/09/97 09/16/97 24,800,000
09/10/97 09/17/97 21,000,000
09/11/97 09/12/97 17,500,000
09/12/97 09/19/97 15,700,000
09/15/97 09/22/97 13,300,000
09/15/97 09/25/97 13,400,000
09/16/97 09/23/97 23,300,000
09/17/97 09/18/97 13,400,000
09/17/97 09/24/97 13,400,000
09/19/97 09/26/97 14,500,000
09/22/97 09/29/97 7,400,000
09/23/97 09/30/97 21,500,000
09/24/97 09/25/97 12,300,000
09/25/97 10/06/97 27,300,000
09/30/97 10/14/97 23,000,000
To summarize the above transactions, at September 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 $ 0
Met-Ed 41,200,000
Penelec 50,300,000
5
<PAGE>
4. At the close of business on June 30, 1997, the GPU
Companies had outstanding unsecured short-term promissory notes
representing bank borrowings under informal bank lines, as
follows:
Company Amount
GPU $103,900,000
JCP&L 47,400,000
Met-Ed 29,300,000
Penelec 67,000,000
During the period July 1, 1997 through September 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
07/01/97 Summit Bank $ 1,000,000 07/15/97
07/03/97 Chase Manhattan Bank 2,000,000 07/10/97
07/07/97 Credit Lyonnais 9,400,000 07/28/97
07/08/97 Fuji Bank 5,500,000 07/15/97
07/09/97 Fuji Bank 14,500,000 07/14/97
07/10/97 Banca Popolare Di Milano 8,700,000 07/17/97
07/11/97 Credit Agricole 14,300,000 07/18/97
07/14/97 Banca Popolare Di Milano 7,000,000 07/28/97
07/14/97 Fuji Bank 8,000,000 07/21/97
07/15/97 Banca Popolare Di Milano 4,100,000 07/22/97
07/15/97 First Union Bank 3,000,000 07/16/97
07/16/97 Summit Bank 12,700,000 07/25/97
07/17/97 Morgan Guaranty Trust 8,700,000 07/30/97
07/18/97 Morgan Guaranty Trust 14,800,000 07/29/97
07/21/97 Banca Popolare Di Milano 7,900,000 08/04/97
07/22/97 Fuji Bank 10,100,000 08/05/97
07/22/97 Summit Bank 7,300,000 08/12/97
07/23/97 Fuji Bank 9,200,000 08/06/97
07/24/97 Chase Manhattan Bank 10,000,000 08/07/97
07/24/97 PNC Bank 7,700,000 08/14/97
07/25/97 Bank of New York 1,000,000 07/28/97
07/25/97 Summit Bank 12,200,000 08/25/97
07/28/97 Banca Popolare Di Milano 7,500,000 08/11/97
07/28/97 Chase Manhattan Bank 10,000,000 08/18/97
07/29/97 First Union BanK 14,800,000 08/13/97
07/30/97 First Union Bank 9,900,000 08/27/97
6
<PAGE>
GPU continued-
Issue
Date Bank Amount Maturity
07/31/97 Banca Popolare Di Milano 1,000,000 08/14/97
08/01/97 Merchants of Bangor 200,000 08/22/97
08/04/97 Banca Popolare Di Milano 7,700,000 08/11/97
08/05/97 Bank of New York 10,100,000 08/06/97
08/06/97 Bank of New York 19,300,000 08/07/97
08/07/97 Bank of New York 29,300,000 08/08/97
08/08/97 Credit Lyonnais 29,300,000 08/15/97
08/11/97 Bank of New York 15,300,000 08/12/97
08/12/97 Banca Popolare Di Milano $14,700,000 08/19/97
08/12/97 Summit Bank 7,800,000 08/20/97
08/13/97 Canadian Imperial Bank 14,900,000 08/20/97
08/14/97 Fuji Bank 8,800,000 08/21/97
08/15/97 First Union Bank 29,300,000 08/22/97
08/18/97 Bank of New York 10,100,000 08/19/97
08/19/97 Banca Popolare Di Milano 15,700,000 08/22/97
08/19/97 Bank of New York 9,100,000 08/20/97
08/20/97 Bank of New York 15,000,000 08/21/97
08/20/97 Credit Agricole 16,800,000 08/26/97
08/21/97 Credit Agricole 23,900,000 08/27/97
08/22/97 Banca Popolare Di Milano 20,000,000 09/03/97
08/22/97 Morgan Guaranty Trust 25,200,000 09/04/97
08/25/97 Summit Bank 12,300,000 09/02/97
08/26/97 Corestates Bank 9,000,000 09/05/97
08/26/97 Summit Bank 7,700,000 09/05/97
08/27/97 Bank of New York 4,300,000 09/03/97
09/02/97 First Union Bank 10,900,000 09/09/97
09/03/97 Banca Popolare Di Milano 12,100,000 09/10/97
09/03/97 Summit Bank 12,300,000 09/10/97
09/04/97 Banca Popolare Di Milano 7,100,000 09/11/97
09/04/97 Chase Manhattan Bank 20,000,000 09/08/97
09/05/97 PNC Bank 9,000,000 09/12/97
09/05/97 Summit Bank 7,700,000 09/12/97
09/08/97 Chase Manhattan Bank 10,000,000 09/16/97
09/08/97 Chase Manhattan Bank 10,000,000 09/18/97
09/09/97 Fuji Bank 10,900,000 09/16/97
09/10/97 Banca Popolare Di Milano 12,700,000 09/17/97
09/10/97 Summit Bank 12,300,000 09/17/97
09/11/97 Bank of New York 7,100,000 09/12/97
09/12/97 Banca Popolare Di Milano 7,300,000 09/19/97
09/12/97 Fuji Bank 8,800,000 09/19/97
09/12/97 Summit Bank 7,700,000 09/19/97
09/15/97 Bank of New York 4,800,000 09/16/97
09/16/97 Bank of Pa 15,000,000 09/23/97
09/16/97 Chase Manhattan Bank 5,800,000 09/23/97
09/17/97 Banca Popolare Di Milano 8,600,000 09/24/97
09/17/97 Chase Manhattan Bank 4,200,000 09/18/97
09/17/97 Summit Bank 12,300,000 09/24/97
09/18/97 Chase Manhattan Bank 14,200,000 09/25/97
7
<PAGE>
GPU continued-
Issue
Date Bank Amount Maturity
09/19/97 Bank of New York $16,200,000 09/22/97
09/19/97 Summit Bank 7,700,000 09/26/97
09/22/97 Fuji Bank 16,200,000 09/29/97
09/23/97 Bank of Pa 15,000,000 10/01/97
09/23/97 PNC Bank 5,900,000 09/30/97
09/24/97 Banca Popolare Di Milano 7,900,000 10/01/97
09/24/97 Summit Bank 12,300,000 10/01/97
09/25/97 Chase Manhattan Bank 14,100,000 10/06/97
09/26/97 Merchants of Bangor 100,000 10/10/97
09/26/97 Summit Bank 7,700,000 10/03/97
09/29/97 Fuji Bank 16,200,000 09/30/97
09/30/97 Credit Agricole 22,200,000 10/14/97
JCP&L
Issue
Date Bank Amount Maturity
07/01/97 Citibank $11,000,000 07/17/97
07/02/97 Summit Bank 4,200,000 07/16/97
07/03/97 Credit Lyonnais 17,400,000 07/16/97
07/07/97 Chase Manhattan Bank 15,900,000 07/21/97
07/11/97 Chase Manhattan Bank 26,700,000 07/25/97
07/17/97 Bank of New York 7,000,000 07/18/97
07/18/97 Morgan Guaranty 11,000,000 08/11/97
07/18/97 Morgan Guaranty 10,000,000 08/13/97
07/29/97 Chase Manhattan Bank 26,600,000 08/12/97
07/30/97 Chase Manhattan Bank 11,000,000 08/27/97
07/30/97 Chase Manhattan Bank 11,100,000 08/20/97
08/04/97 Bank of New York 3,200,000 08/05/97
08/04/97 Citibank 15,000,000 08/18/97
08/11/97 Bank of New York 7,300,000 08/12/97
08/12/97 Chase Manhattan Bank 13,700,000 08/19/97
08/13/97 Canadian Imperial Bank 5,100,000 08/20/97
08/13/97 Fuji Bank 5,400,000 08/20/97
08/14/97 Banca Popolare Di Milano 4,300,000 08/21/97
08/18/97 Bank of New York 4,000,000 08/19/97
08/19/97 Chase Manhattan Bank 20,000,000 08/22/97
08/19/97 Fuji Bank 4,100,000 08/20/97
08/21/97 Citibank 11,800,000 08/28/97
08/22/97 Chase Manhattan Bank 20,000,000 09/03/97
09/02/97 Chase Manhattan Bank 28,400,000 09/16/97
09/04/97 Citibank 15,000,000 09/11/97
09/04/97 Morgan Guaranty 5,400,000 09/11/97
09/10/97 Chase Manhattan Bank 21,600,000 09/18/97
09/10/97 Corestates Bank 7,600,000 09/17/97
09/11/97 Bank of New York 11,200,000 09/12/97
09/12/97 Bank of New York 6,500,000 09/15/97
8
<PAGE>
JCP&L continued-
Issue
Date Bank Amount Maturity
09/12/97 Citibank $15,000,000 09/19/97
09/15/97 First Union Bank 26,000,000 09/25/97
09/15/97 Morgan Guaranty 20,900,000 09/22/97
09/17/97 Chase Manhattan Bank 20,600,000 09/24/97
09/17/97 Fuji Bank 9,000,000 09/19/97
09/18/97 Morgan Guaranty 14,200,000 09/29/97
09/19/97 Banca Popolare Di Milano 11,400,000 09/26/97
09/22/97 Chase Manhattan Bank 10,100,000 09/26/97
09/22/97 Chase Manhattan Bank 10,100,000 09/29/97
09/23/97 Bank of New York 2,100,000 09/24/97
09/23/97 Chase Manhattan Bank 5,800,000 09/30/97
09/23/97 Citibank 15,000,000 09/30/97
09/24/97 Chase Manhattan Bank 20,600,000 10/06/97
09/25/97 First Union Bank 22,900,000 10/08/97
09/26/97 Banca Popolare Di Milano 12,100,000 10/10/97
09/26/97 First Union Bank 12,300,000 10/10/97
09/29/97 Chase Manhattan Bank 2,100,000 10/03/97
09/29/97 First Union Bank 10,400,000 10/03/97
09/30/97 Banca Popolare Di Milano 10,000,000 10/14/97
09/30/97 Credit Agricole 6,400,000 10/14/97
09/30/97 Swiss Bank 10,000,000 10/14/97
Met-Ed
Issue
Date Bank Amount Maturity
07/01/97 Morgan Bank $ 4,700,000 07/15/97
07/02/97 Citibank 3,500,000 07/14/97
07/24/97 Chase Manhattan Bank Bank 1,000,000 07/25/97
07/28/97 Chase Manhattan Bank Bank 11,100,000 08/04/97
07/30/97 Morgan Bank 11,600,000 08/13/97
07/31/97 Banca Popolare Di Milano 2,300,000 08/14/97
08/04/97 Bank of New York 8,400,000 08/05/97
08/05/97 Bank of New York 17,100,000 08/06/97
08/06/97 Bank of New York 4,400,000 08/07/97
08/06/97 Fuji Bank 10,000,000 08/13/97
08/07/97 Fuji Bank 9,600,000 08/14/97
08/11/97 Bank of New York 6,000,000 08/12/97
08/11/97 Chase Manhattan Bank Bank 7,100,000 08/18/97
08/13/97 First Union Bank 16,100,000 08/20/97
08/18/97 Bank of New York 3,700,000 08/19/97
08/21/97 Bank of New York 16,200,000 08/22/97
09/15/97 Bank of New York 10,000,000 09/16/97
09/16/97 Bank of New York 20,900,000 09/17/97
09/17/97 Merchants Bank of Bangor 600,000 10/01/97
09/18/97 Bank of New York 19,100,000 09/19/97
9
<PAGE>
Met-Ed continued-
Issue
Date Bank Amount Maturity
09/22/97 Bank of New York $27,300,000 09/23/97
09/23/97 Bank of New York 12,100,000 09/24/97
09/24/97 Bank of New York 31,900,000 09/25/97
09/25/97 Bank of New York 20,000,000 09/26/97
09/29/97 Chase Manhattan Bank Bank 13,000,000 10/03/97
09/30/97 Bank of New York 10,300,000 10/01/97
Penelec
Issue
Date Bank Amount Maturity
07/01/97 Morgan Bank $12,900,000 07/15/97
07/02/97 Morgan Bank 7,300,000 07/17/97
07/08/97 Merchants of Bangor 300,000 07/22/97
07/28/97 Chase Manhattan Bank 5,800,000 08/11/97
07/30/97 Morgan Bank 9,300,000 08/20/97
08/04/97 Morgan Bank 11,300,000 08/11/97
08/07/97 Chase Manhattan Bank 2,900,000 08/14/97
08/11/97 Bank of New York 3,400,000 08/12/97
08/20/97 Bank of New York 9,500,000 08/21/97
08/21/97 Morgan Bank 19,200,000 08/28/97
08/28/97 Citibank 15,000,000 09/04/97
08/28/97 Morgan Bank 6,000,000 09/11/97
08/29/97 Chase Manhattan Bank 18,100,000 09/05/97
09/04/97 Morgan Bank 12,400,000 09/11/97
09/10/97 Morgan Bank 6,600,000 09/17/97
09/18/97 Morgan Bank 13,800,000 09/25/97
09/25/97 Corestates Bank 10,000,000 10/09/97
09/26/97 First Union Bank 7,300,000 10/10/97
09/26/97 Morgan Bank 5,000,000 10/10/97
09/29/97 Chase Manhattan Bank 11,000,000 10/03/97
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.
10
<PAGE>
During the period of July 1, 1997 through September 30,
1997, the Companies repaid unsecured promissory notes issued to
banks, as follows:
GPU
Date Bank Amount
07/03/97 Swiss Bank Corp. $ 2,500,000
07/07/97 Bank of Pa 9,300,000
07/08/97 Swiss Bank Corp. 5,500,000
07/09/97 First Union Bank 14,400,000
07/10/97 Bank of New York 6,700,000
07/10/97 Chase Manhattan Bank 2,000,000
07/11/97 Credit Agricole 16,000,000
07/14/97 Fuji Bank 14,500,000
07/15/97 Fuji Bank 5,500,000
07/15/97 Summit Bank 1,000,000
07/16/97 Canadian Imperial Bank 9,700,000
07/16/97 First Union Bank 3,000,000
07/17/97 Banca Popolare Di Milano 8,700,000
07/18/97 Credit Agricole 14,300,000
07/21/97 Fuji Bank 8,000,000
07/22/97 Banca Popolare Di Milano 4,100,000
07/22/97 Union Bank of Switzerland 13,300,000
07/23/97 Canadian Imperial Bank 9,000,000
07/24/97 Chase Manhattan Bank 17,500,000
07/25/97 Summit Bank 12,700,000
07/28/97 Banca Popolare Di Milano 7,000,000
07/28/97 Bank of New York 1,000,000
07/28/97 Credit Lyonnais 9,400,000
07/29/97 Morgan Guaranty Trust 14,800,000
07/30/97 Morgan Guaranty Trust 8,700,000
08/04/97 Banca Popolare Di Milano 7,900,000
08/05/97 Fuji Bank 10,100,000
08/06/97 Bank of New York 10,100,000
08/06/97 Fuji Bank 9,200,000
08/07/97 Bank of New York 19,300,000
08/07/97 Chase Manhattan Bank 10,000,000
08/08/97 Bank of New York 29,300,000
08/11/97 Banca Popolare Di Milano 7,500,000
08/11/97 Banca Popolare Di Milano 7,700,000
08/12/97 Bank of New York 15,300,000
08/12/97 Summit Bank 7,300,000
08/13/97 First Union Bank 14,800,000
08/14/97 Banca Popolare Di Milano 1,000,000
08/14/97 PNC Bank 7,700,000
08/15/97 Credit Lyonnais 29,300,000
08/18/97 Chase Manhattan Bank 10,000,000
08/19/97 Banca Popolare Di Milano 14,700,000
08/19/97 Bank of New York 10,100,000
11
<PAGE>
GPU continued-
Date Bank Amount
08/20/97 Bank of New York $ 9,100,000
08/20/97 Canadian Imperial Bank 14,900,000
08/20/97 Summit Bank 7,800,000
08/21/97 Bank of New York 15,000,000
08/21/97 Fuji Bank 8,800,000
08/22/97 Banca Popolare Di Milano 15,700,000
08/22/97 First Union Bank 29,300,000
08/22/97 Merchants of Bangor 200,000
08/25/97 Summit Bank 12,200,000
08/26/97 Credit Agricole 16,800,000
08/27/97 Credit Agricole 23,900,000
08/27/97 First Union Bank 9,900,000
09/02/97 Summit Bank 12,300,000
09/03/97 Banca Popolare Di Milano 20,000,000
09/03/97 Bank of New York 4,300,000
09/04/97 Morgan Guaranty Trust 25,200,000
09/05/97 Corestates Bank 9,000,000
09/05/97 Summit Bank 7,700,000
09/08/97 Chase Manhattan Bank 20,000,000
09/09/97 First Union Bank 10,900,000
09/10/97 Banca Popolare Di Milano 12,100,000
09/10/97 Summit Bank 12,300,000
09/11/97 Banca Popolare Di Milano 7,100,000
09/12/97 Bank of New York 7,100,000
09/12/97 PNC Bank 9,000,000
09/12/97 Summit Bank 7,700,000
09/16/97 Bank of New York 4,800,000
09/16/97 Chase Manhattan Bank 10,000,000
09/16/97 Fuji Bank 10,900,000
09/17/97 Banca Popolare Di Milano 12,700,000
09/17/97 Summit Bank 12,300,000
09/18/97 Chase Manhattan Bank 4,200,000
09/18/97 Chase Manhattan Bank 10,000,000
09/19/97 Banca Popolare Di Milano 7,300,000
09/19/97 Fuji Bank 8,800,000
09/19/97 Summit Bank 7,700,000
09/22/97 Bank of New York 16,200,000
09/23/97 Bank of Pa 15,000,000
09/23/97 Chase Manhattan Bank 5,800,000
09/24/97 Banca Popolare Di Milano 8,600,000
09/24/97 Summit Bank 12,300,000
09/25/97 Chase Manhattan Bank 14,200,000
09/26/97 Summit Bank 7,700,000
09/29/97 Fuji Bank 16,200,000
09/30/97 Fuji Bank 16,200,000
09/30/97 PNC Bank 5,900,000
12
<PAGE>
JCP&L
Date Bank Amount
07/08/97 First Union Bank $15,600,000
07/08/97 Summit Bank 6,300,000
07/09/97 Banca Popolare Di Milano 3,800,000
07/10/97 Banca Popolare Di Milano 16,200,000
07/11/97 Bank of Pa 5,500,000
07/16/97 Credit Lyonnais 17,400,000
07/16/97 Summit Bank 4,200,000
07/17/97 Citibank 11,000,000
07/18/97 Bank of New York 7,000,000
07/21/97 Chase Manhattan Bank 15,900,000
07/25/97 Chase Manhattan Bank 26,700,000
08/05/97 Bank of New York 3,200,000
08/11/97 Morgan Guaranty 11,000,000
08/12/97 Bank of New York 7,300,000
08/12/97 Chase Manhattan Bank 26,600,000
08/13/97 Morgan Guaranty 10,000,000
08/18/97 Citibank 15,000,000
08/19/97 Bank of New York 4,000,000
08/19/97 Chase Manhattan Bank 13,700,000
08/20/97 Chase Manhattan Bank 11,100,000
08/20/97 Canadian Imperial Bank 5,100,000
08/20/97 Fuji Bank 5,400,000
08/20/97 Fuji Bank 4,100,000
08/21/97 Banca Popolare Di Milano 4,300,000
08/22/97 Chase Manhattan Bank 20,000,000
08/27/97 Chase Manhattan Bank 11,000,000
08/28/97 Citibank 11,800,000
09/03/97 Chase Manhattan Bank 20,000,000
09/11/97 Citibank 15,000,000
09/11/97 Morgan Guaranty 5,400,000
09/12/97 Bank of New York 11,200,000
09/15/97 Bank of New York 6,500,000
09/16/97 Chase Manhattan Bank 28,400,000
09/17/97 Corestates Bank 7,600,000
09/18/97 Chase Manhattan Bank 21,600,000
09/19/97 Citibank 15,000,000
09/19/97 Fuji Bank 9,000,000
09/22/97 Morgan Guaranty 20,900,000
09/24/97 Bank of New York 2,100,000
09/24/97 Chase Manhattan Bank 20,600,000
09/25/97 First Union Bank 26,000,000
09/26/97 Banca Popolare Di Milano 11,400,000
09/26/97 Chase Manhattan Bank 10,100,000
09/29/97 Chase Manhattan Bank 10,100,000
09/29/97 Morgan Guaranty 14,200,000
09/30/97 Chase Manhattan Bank 5,800,000
09/30/97 Citibank 15,000,000
13
<PAGE>
Met-Ed
Date Bank Amount
07/08/97 Corestates Bank $ 1,900,000
07/10/97 First Union Bank 10,400,000
07/11/97 Credit Agricole 17,000,000
07/14/97 Citibank 3,500,000
07/15/97 Morgan Bank 4,700,000
07/25/97 Chase Manhattan Bank 1,000,000
08/04/97 Chase Manhattan Bank 11,100,000
08/05/97 Bank of New York 8,400,000
08/06/97 Bank of New York 17,100,000
08/07/97 Bank of New York 4,400,000
08/12/97 Bank of New York 6,000,000
08/13/97 Fuji Bank 10,000,000
08/13/97 Morgan Bank 11,600,000
08/14/97 Banca Popolare Di Milano 2,300,000
08/14/97 Fuji Bank 9,600,000
08/18/97 Chase Manhattan Bank 7,100,000
08/19/97 Bank of New York 3,700,000
08/20/97 First Union Bank 16,100,000
08/22/97 Bank of New York 16,200,000
09/16/97 Bank of New York 10,000,000
09/17/97 Bank of New York 20,900,000
09/19/97 Bank of New York 19,100,000
09/23/97 Bank of New York 27,300,000
09/24/97 Bank of New York 12,100,000
09/25/97 Bank of New York 31,900,000
09/26/97 Bank of New York 20,000,000
14
<PAGE>
Penelec
Date Bank Amount
07/03/97 First Union Bank $10,000,000
07/08/97 Summit Bank 8,100,000
07/09/97 Corestates Bank 8,100,000
07/09/97 Swiss Bank 2,000,000
07/10/97 Credit Agricole 13,000,000
07/15/97 Morgan Bank 12,900,000
07/16/97 Chase Manhattan Bank 15,400,000
07/17/97 Morgan Bank 7,300,000
07/22/97 Merchants of Bangor 300,000
07/23/97 Chase Manhattan Bank 10,400,000
08/11/97 Chase Manhattan Bank 5,800,000
08/11/97 Morgan Bank 11,300,000
08/12/97 Bank of New York 3,400,000
08/14/97 Chase Manhattan Bank 2,900,000
08/20/97 Morgan Bank 9,300,000
08/21/97 Bank of New York 9,500,000
08/28/97 Morgan Bank 19,200,000
09/04/97 Citibank 15,000,000
09/05/97 Chase Manhattan Bank 18,100,000
09/11/97 Morgan Bank 6,000,000
09/11/97 Morgan Bank 12,400,000
09/17/97 Morgan Bank 6,600,000
09/25/97 Morgan Bank 13,800,000
To summarize the above transactions, at September 30,
1997 the GPU Companies had outstanding unsecured promissory notes
pursuant to informal bank lines of credit as follows:
GPU $ 79,300,000
JCP&L 106,800,000
Met-Ed 23,900,000
Penelec 33,300,000
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: October 14, 1997
<PAGE>
