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, July 17, 1996,
and December 22, 1997, with respect to said Declaration, as follows:
1. During the period January 1, 1999 through March 31, 1999, 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
-2-
<PAGE>
Amendment No. 1 dated as of March 31, 1997, Amendment No. 2 dated as of May 15,
1998, and Amendment No. 3 dated as of March 2, 1999, 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 Manhattan Bank Securities, Inc., as Arrangers, and no such
borrowings were outstanding thereunder at such date.
2. At the close of business on December 31, 1998, JCP&L, Met-Ed and Penelec
had outstanding unsecured short-term promissory notes issued as commercial paper
as follows:
Company Amount
------- ------
JCP&L $69,100,000
Met-Ed 63,200,000
Penelec 54,200,000
3. During the period January 1, 1999 through March 31, 1999, JCP&L,
Met-Ed, and Penelec issued and sold (and paid at maturity where such commercial
paper matured on or before March 31, 1999) unsecured short-term promissory notes
as commercial paper as follows:
JCP&L
- -----
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
01/04/99 01/08/99 26,000,000
01/04/99 01/11/99 25,800,000
01/06/99 01/13/99 15,400,000
01/07/99 01/14/99 9,100,000
01/08/99 01/14/99 8,500,000
01/08/99 01/15/99 20,000,000
01/11/99 01/13/99 14,100,000
01/11/99 01/19/99 20,000,000
01/12/99 01/20/99 11,000,000
01/13/99 01/20/99 6,500,000
01/13/99 01/21/99 20,000,000
01/15/99 01/22/99 15,000,000
01/19/99 01/26/99 18,400,000
-3-
<PAGE>
JCP&L continued
- ---------------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
01/20/99 01/25/99 25,000,000
01/20/99 01/27/99 25,000,000
01/22/99 01/28/99 8,200,000
01/27/99 02/02/99 15,000,000
01/27/99 02/03/99 15,300,000
01/28/99 02/04/99 18,200,000
01/29/99 02/05/99 20,700,000
02/02/99 02/09/99 9,900,000
02/03/99 02/10/99 15,000,000
02/04/99 02/11/99 21,100,000
02/05/99 02/12/99 11,400,000
02/11/99 02/18/99 17,200,000
02/22/99 03/08/99 22,100,000
02/24/99 03/03/99 11,100,000
03/03/99 03/09/99 13,300,000
03/04/99 03/11/99 7,500,000
03/05/99 03/12/99 6,400,000
03/08/99 03/10/99 8,400,000
03/08/99 03/16/99 8,300,000
03/09/99 03/17/99 9,000,000
03/09/99 03/18/99 9,000,000
03/10/99 03/11/99 2,600,000
03/11/99 03/18/99 6,300,000
03/18/99 03/23/99 6,900,000
03/19/99 03/24/99 7,900,000
03/22/99 03/29/99 7,400,000
03/24/99 03/25/99 500,000
Met-Ed
- ------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
01/04/99 01/06/99 17,500,000
01/04/99 01/11/99 17,400,000
01/06/99 01/13/99 14,600,000
01/07/99 01/11/99 4,700,000
01/08/99 01/14/99 26,700,000
01/12/99 01/19/99 13,000,000
01/13/99 01/20/99 1,600,000
01/14/99 01/21/99 20,900,000
01/15/99 01/22/99 24,000,000
01/19/99 01/25/99 18,500,000
01/20/99 01/26/99 11,600,000
01/21/99 01/27/99 13,300,000
01/22/99 01/28/99 21,900,000
01/25/99 01/26/99 26,525,000
01/25/99 01/29/99 1,675,000
01/26/99 01/29/99 10,000,000
01/26/99 02/02/99 27,200,000
01/27/99 02/03/99 14,200,000
01/28/99 02/12/99 19,600,000
01/29/99 02/05/99 12,000,000
-4-
<PAGE>
Met-Ed continued
- ----------------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
02/02/99 02/04/99 29,200,000
02/03/99 02/10/99 14,200,000
02/04/99 02/11/99 29,200,000
02/05/99 02/08/99 7,400,000
02/08/99 02/16/99 11,600,000
02/10/99 02/17/99 13,900,000
02/11/99 02/18/99 9,600,000
02/11/99 02/18/99 500,000
02/11/99 03/03/99 15,100,000
02/12/99 02/19/99 17,700,000
02/17/99 02/18/99 6,900,000
02/18/99 02/25/99 16,200,000
02/19/99 02/26/99 27,100,000
02/22/99 03/08/99 12,000,000
02/23/99 03/02/99 4,300,000
02/25/99 03/04/99 16,500,000
02/26/99 03/05/99 25,100,000
03/02/99 03/09/99 5,500,000
03/03/99 03/17/99 11,800,000
03/04/99 03/11/99 17,200,000
03/05/99 03/12/99 28,500,000
03/08/99 03/16/99 10,400,000
03/09/99 03/16/99 7,100,000
03/11/99 03/25/99 17,200,000
03/12/99 03/19/99 7,400,000
03/12/99 03/26/99 20,000,000
03/16/99 03/23/99 15,300,000
03/17/99 03/24/99 14,500,000
03/19/99 03/23/99 8,000,000
03/23/99 03/30/99 23,300,000
03/24/99 04/07/99 7,000,000
03/24/99 04/09/99 7,500,000
03/25/99 03/31/99 10,000,000
03/25/99 04/01/99 7,200,000
03/30/99 04/05/99 11,000,000
03/30/99 04/09/99 11,000,000
03/31/99 04/07/99 6,700,000
Penelec
- -------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
01/04/99 01/06/99 900,000
01/04/99 01/06/99 20,000,000
01/04/99 01/11/99 8,800,000
01/06/99 01/08/99 4,100,000
01/06/99 01/14/99 20,000,000
01/07/99 01/11/99 11,400,000
01/08/99 01/15/99 14,200,000
01/11/99 01/13/99 17,200,000
01/11/99 01/15/99 10,000,000
01/12/99 01/19/99 26,000,000
01/13/99 01/20/99 26,600,000
01/14/99 01/21/99 14,200,000
-5-
<PAGE>
Penelec continued
- -----------------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
01/15/99 01/22/99 25,000,000
01/19/99 01/25/99 24,100,000
01/20/99 01/26/99 23,800,000
01/20/99 01/26/99 12,900,000
01/22/99 01/25/99 1,400,000
01/25/99 01/28/99 26,300,000
01/26/99 01/29/99 10,000,000
01/26/99 02/02/99 21,500,000
01/27/99 02/03/99 19,100,000
01/28/99 02/04/99 27,000,000
01/29/99 02/05/99 12,500,000
02/02/99 02/09/99 28,900,000
02/03/99 02/08/99 12,700,000
02/03/99 02/10/99 12,000,000
02/04/99 02/11/99 23,300,000
02/05/99 02/08/99 8,400,000
02/08/99 02/12/99 19,000,000
02/09/99 02/16/99 26,800,000
02/10/99 02/17/99 6,800,000
02/11/99 02/18/99 8,100,000
02/11/99 02/18/99 12,000,000
02/12/99 02/19/99 7,900,000
02/16/99 02/22/99 29,300,000
02/17/99 02/18/99 1,300,000
02/18/99 02/25/99 16,700,000
02/19/99 02/26/99 24,400,000
02/22/99 03/08/99 26,200,000
02/24/99 03/10/99 10,900,000
02/24/99 03/10/99 10,600,000
02/25/99 03/04/99 15,800,000
02/26/99 03/05/99 28,400,000
03/01/99 03/02/99 7,400,000
03/02/99 03/09/99 6,500,000
03/04/99 03/11/99 17,400,000
03/05/99 03/12/99 27,300,000
03/08/99 03/16/99 27,300,000
03/09/99 03/17/99 6,500,000
03/10/99 03/17/99 10,700,000
03/10/99 03/18/99 10,700,000
03/11/99 03/18/99 17,500,000
03/12/99 03/16/99 9,500,000
03/12/99 03/17/99 10,000,000
03/15/99 03/18/99 7,800,000
03/16/99 03/17/99 33,600,000
03/17/99 03/18/99 64,000,000
To summarize the above transactions, at March 31, 1999, JCP&L, Met-Ed and
Penelec had outstanding unsecured short-term promissory notes issued as
commercial paper as follows:
-6-
<PAGE>
Company Amount
------- ------
JCP&L $ 0
Met-Ed 50,400,000
Penelec 0
4. At the close of business on December 31, 1998, the GPU Companies had
outstanding unsecured short-term promissory notes representing bank borrowings
under informal bank lines, as follows:
Company Amount
------- ------
GPU $ 69,100,000
JCP&L 53,300,000
Met-Ed 16,400,000
Penelec 31,900,000
During the period January 1,1999 through March 31,1999, the GPU Companies
issued unsecured promissory notes representing bank borrowings under informal
bank lines of credit as follows: GPU
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
01/04/99 Banca Popolare di Milano 14,300,000 01/06/99
01/04/99 Banca Popolare di Milano 14,300,000 01/11/99
01/04/99 Summit Bank 1,500,000 01/06/99
01/05/99 Sumitomo Bank 4,200,000 01/07/99
01/06/99 Sumitomo Bank 8,800,000 01/12/99
01/06/99 Summit Bank 7,100,000 01/13/99
01/07/99 Chase Manhattan Bank 8,000,000 01/14/99
01/07/99 Chase Manhattan Bank 7,400,000 01/13/99
01/08/99 Chase Manhattan Bank 7,500,000 01/14/99
01/08/99 Chase Manhattan Bank 7,500,000 01/15/99
01/11/99 Chase Manhattan Bank 11,500,000 01/19/99
01/11/99 Summit Bank 2,900,000 01/12/99
01/12/99 Sumitomo Bank 14,800,000 01/20/99
01/12/99 Summit Bank 2,900,000 01/19/99
01/13/99 Chase Manhattan Bank 7,400,000 01/21/99
01/13/99 Sumitomo Bank 7,100,000 01/21/99
01/14/99 Banca Popolare di Milano 5,300,000 01/22/99
01/14/99 Chase Manhattan Bank 8,000,000 01/22/99
01/15/99 Chase Manhattan Bank 7,500,000 01/25/99
01/19/99 Banca Popolare di Milano 11,500,000 01/26/99
01/19/99 Summit Bank 2,900,000 01/26/99
-7-
<PAGE>
GPU continued
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
01/20/99 Summit Bank 14,800,000 01/27/99
01/21/99 Credit Agricole 12,300,000 01/28/99
01/21/99 Summit Bank 2,300,000 01/22/99
01/22/99 Chase Manhattan Bank 9,600,000 01/25/99
01/22/99 Chase Manhattan Bank 7,000,000 01/29/99
01/25/99 Chase Manhattan Bank 12,000,000 01/29/99
01/25/99 Chase Manhattan Bank 4,100,000 01/28/99
01/26/99 Chase Manhattan Bank 2,200,000 02/02/99
01/26/99 Chase Manhattan Bank 7,000,000 02/02/99
01/26/99 Summit Bank 5,200,000 02/02/99
01/27/99 Chase Manhattan Bank 14,800,000 02/03/99
01/28/99 Banca Popolare di Milano 16,500,000 02/04/99
01/29/99 Banca Popolare di Milano 1,200,000 02/01/99
01/29/99 Chase Manhattan Bank 7,800,000 02/05/99
01/29/99 Chase Manhattan Bank 10,000,000 02/01/99
02/01/99 Chase Manhattan Bank 1,300,000 02/08/99
02/01/99 Chase Manhattan Bank 10,000,000 02/08/99
02/02/99 Chase Manhattan Bank 12,100,000 02/09/99
02/02/99 Chase Manhattan Bank 2,200,000 02/03/99
02/03/99 Banca Popolare di Milano 10,100,000 02/05/99
02/03/99 Sumitomo Bank 10,000,000 02/10/99
02/04/99 Banca Popolare di Milano 19,900,000 02/11/99
02/05/99 Banca Popolare di Milano 10,100,000 02/12/99
02/05/99 Chase Manhattan Bank 7,800,000 02/08/99
02/08/99 Chase Manhattan Bank 19,600,000 02/12/99
02/08/99 Chase Manhattan Bank 1,000,000 02/10/99
02/09/99 Chase Manhattan Bank 13,100,000 02/16/99
02/10/99 Chase Manhattan Bank 11,000,000 02/17/99
02/11/99 Sumitomo Bank 20,200,000 02/18/99
02/12/99 Chase Manhattan Bank 20,000,000 02/19/99
02/12/99 Summit Bank 9,700,000 02/19/99
02/12/99 Summit Bank 2,000,000 02/19/99
02/16/99 Chase Manhattan Bank 15,000,000 02/22/99
02/17/99 Chase Manhattan Bank 12,500,000 02/23/99
02/18/99 Sumitomo Bank 21,900,000 02/25/99
02/19/99 Banca Popolare di Milano 21,400,000 02/26/99
02/19/99 Chase Manhattan Bank 4,600,000 02/22/99
02/19/99 Mellon Bank 3,700,000 02/23/99
02/19/99 Sumitomo Bank 3,100,000 02/26/99
02/22/99 Chase Manhattan Bank 21,000,000 03/08/99
02/23/99 Chase Manhattan Bank 15,300,000 02/24/99
02/25/99 Chase Manhattan Bank 13,700,000 03/04/99
02/26/99 Chase Manhattan Bank 20,600,000 03/05/99
02/26/99 First Union National Bank 7,000,000 03/05/99
03/02/99 Banca Popolare di Milano 1,700,000 03/03/99
03/03/99 Sumitomo Bank 3,400,000 03/04/99
03/04/99 Banca Popolare di Milano 9,100,000 03/09/99
03/04/99 Banca Popolare di Milano 9,000,000 03/10/99
03/05/99 Sumitomo Bank 14,500,000 03/12/99
03/05/99 Sumitomo Bank 14,000,000 03/11/99
03/08/99 Chase Manhattan Bank 11,000,000 03/15/99
03/08/99 Chase Manhattan Bank 10,000,000 03/16/99
03/09/99 Chase Manhattan Bank 11,300,000 03/17/99
-8-
<PAGE>
GPU continued
- -------------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
03/10/99 Banca Popolare di Milano 10,000,000 03/18/99
03/11/99 Banca Popolare di Milano 1,400,000 03/16/99
03/11/99 Summit Bank 20,000,000 03/18/99
03/12/99 Sumitomo Bank 11,800,000 03/17/99
03/15/99 Chase Manhattan Bank 11,800,000 03/22/99
03/15/99 Sumitomo Bank 23,200,000 03/19/99
03/16/99 Banca Popolare di Milano 1,400,000 03/17/99
03/16/99 Chase Manhattan Bank 10,000,000 03/23/99
03/17/99 Banca Popolare di Milano 600,000 03/18/99
03/17/99 Chase Manhattan Bank 11,300,000 03/18/99
03/17/99 First Union National Bank 800,000 03/18/99
03/17/99 Sumitomo Bank 11,800,000 03/18/99
03/23/99 Chase Manhattan Bank 1,200,000 03/24/99
03/24/99 Chase Manhattan Bank 2,800,000 03/25/99
03/25/99 Sumitomo Bank 4,000,000 03/26/99
03/26/99 Chase Manhattan Bank 5,100,000 03/29/99
03/29/99 Chase Manhattan Bank 2,500,000 03/30/99
03/29/99 Summit Bank 3,400,000 03/30/99
03/30/99 First Union National Bank 7,100,000 03/31/99
03/31/99 First Union National Bank 5,800,000 04/05/99
03/31/99 Summit Bank 3,400,000 04/01/99
JCP&L
- -----
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
01/14/99 Banca Popolare di Milano 1,300,000 01/22/99
01/14/99 Chase Manhattan Bank 12,500,000 01/22/99
01/22/99 First Union National Bank 2,000,000 01/25/99
01/25/99 Chase Manhattan Bank 16,000,000 01/29/99
01/25/99 Citibank 15,000,000 01/28/99
02/01/99 Citibank 14,100,000 02/08/99
02/08/99 Chase Manhattan Bank 7,900,000 02/16/99
02/09/99 Chase Manhattan Bank 3,000,000 02/16/99
02/10/99 Chase Manhattan Bank 6,100,000 02/17/99
02/10/99 Citibank 1,400,000 02/17/99
02/12/99 Summit Bank 5,800,000 02/19/99
02/16/99 Chase Manhattan Bank 5,200,000 02/22/99
02/18/99 Chase Manhattan Bank 2,300,000 02/19/99
02/18/99 Sumitomo Bank 3,100,000 02/19/99
02/19/99 Citibank 9,600,000 02/26/99
02/26/99 First Union National Bank 5,500,000 03/05/99
03/10/99 Chase Manhattan Bank 7,500,000 03/15/99
03/10/99 Chase Manhattan Bank 7,500,000 03/19/99
03/12/99 Sumitomo Bank 600,000 03/15/99
03/15/99 First Union National Bank 6,000,000 03/22/99
03/15/99 First Union National Bank 2,000,000 03/22/99
03/22/99 Mellon Bank 10,100,000 03/25/99
03/25/99 Bank of Pennsylvania 8,600,000 03/30/99
03/26/99 Chase Manhattan Bank 11,600,000 03/31/99
03/26/99 Chase Manhattan Bank 11,000,000 04/01/99
03/30/99 Bank of Pennsylvania 5,700,000 04/02/99
-9-
<PAGE>
JCP&L continued
- ---------------
Issue
Date Amount Maturity
- ---- ------ --------
03/31/99 Bank of Pennsylvania 5,100,000 04/06/99
03/31/99 First Union National Bank 7,100,000 04/05/99
Met-Ed
- ------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
01/05/99 Sumitomo Bank 5,100,000 01/07/99
01/07/99 Citibank 2,700,000 01/12/99
01/08/99 Chase Manhattan Bank 5,000,000 01/13/99
01/11/99 Chase Manhattan Bank 23,100,000 01/15/99
01/11/99 Citibank 2,800,000 01/13/99
01/13/99 Summit Bank 17,100,000 01/20/99
01/20/99 Chase Manhattan Bank 11,800,000 01/25/99
01/25/99 Chase Manhattan Bank 7,000,000 01/26/99
01/25/99 Sumitomo Bank 3,100,000 01/27/99
01/26/99 Banca Popolare di Milano 2,000,000 01/27/99
01/27/99 Chase Manhattan Bank 5,200,000 02/03/99
01/27/99 Summit Bank 3,300,000 02/03/99
02/01/99 Chase Manhattan Bank 6,400,000 02/08/99
02/02/99 Chase Manhattan Bank 5,400,000 02/09/99
02/03/99 Sumitomo Bank 2,300,000 02/09/99
02/04/99 Chase Manhattan Bank 5,400,000 02/09/99
02/08/99 Chase Manhattan Bank 1,000,000 02/16/99
02/09/99 Chase Manhattan Bank 7,900,000 02/16/99
02/16/99 Banca Popolare di Milano 8,600,000 02/23/99
02/16/99 Chase Manhattan Bank 12,700,000 02/22/99
02/24/99 Chase Manhattan Bank 8,400,000 03/09/99
02/24/99 Summit Bank 20,000,000 03/10/99
02/25/99 Chase Manhattan Bank 1,300,000 03/04/99
03/05/99 Sumitomo Bank 5,700,000 03/12/99
03/09/99 Mellon Bank 5,800,000 03/18/99
03/10/99 Banca Popolare di Milano 8,600,000 03/18/99
03/10/99 Banca Popolare di Milano 10,000,000 03/19/99
03/11/99 Citibank 2,400,000 03/18/99
03/15/99 Chase Manhattan Bank 16,900,000 03/22/99
03/15/99 Mellon Bank 5,800,000 03/17/99
03/18/99 Chase Manhattan Bank 12,500,000 03/24/99
03/18/99 Mellon Bank 6,000,000 03/25/99
03/19/99 Chase Manhattan Bank 7,500,000 03/26/99
03/19/99 Summit Bank 16,600,000 04/02/99
03/22/99 Mellon Bank 3,900,000 03/29/99
03/22/99 Summit Bank 3,400,000 03/29/99
03/23/99 Chase Manhattan Bank 200,000 03/24/99
03/24/99 Chase Manhattan Bank 8,500,000 04/07/99
03/25/99 Bank of Pennsylvania 4,200,000 04/02/99
03/26/99 Banca Popolare di Milano 14,500,000 04/06/99
03/26/99 Banca Popolare di Milano 14,000,000 04/08/99
03/29/99 Chase Manhattan Bank 7,500,000 04/05/99
-10-
<PAGE>
Penelec
- -------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
01/06/99 Summit Bank 2,900,000 01/11/99
01/06/99 Summit Bank 10,000,000 01/13/99
01/20/99 Chase Manhattan Bank 20,000,000 01/27/99
02/01/99 Chase Manhattan Bank 1,000,000 02/08/99
03/01/99 First Union National Bank 1,000,000 03/02/99
03/03/99 Mellon Bank 4,100,000 03/08/99
03/04/99 Banca Popolare di Milano 1,000,000 03/05/99
03/08/99 Chase Manhattan Bank 2,000,000 03/09/99
03/09/99 Mellon Bank 8,400,000 03/18/99
03/11/99 Citibank 9,200,000 03/17/99
03/15/99 Chase Manhattan Bank 12,500,000 03/18/99
03/15/99 First Union National Bank 15,200,000 03/18/99
03/17/99 Banca Popolare di Milano 200,000 03/18/99
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, 1999 through March 31, 1999, the Companies
repaid unsecured promissory notes issued to banks, as follows:
-11-
<PAGE>
GPU
Date Bank Amount
- ---- ---- ------
01/04/99 Chase Manhattan Bank 2,900,000
01/04/99 First Union National Bank 30,000,000
01/05/99 Bank of Pennsylvania 2,800,000
01/05/99 Summit Bank 1,400,000
01/06/99 Banca Popolare di Milano 14,300,000
01/06/99 Summit Bank 1,500,000
01/07/99 PNC Bank 11,100,000
01/07/99 Sumitomo Bank 4,200,000
01/08/99 Chase Manhattan Bank 15,000,000
01/11/99 Banca Popolare di Milano 14,300,000
01/12/99 First Union National Bank 2,400,000
01/12/99 PNC Bank 3,500,000
01/12/99 Sumitomo Bank 8,800,000
01/12/99 Summit Bank 2,900,000
01/13/99 Chase Manhattan Bank 7,400,000
01/13/99 Summit Bank 7,100,000
01/14/99 Chase Manhattan Bank 7,500,000
01/14/99 Chase Manhattan Bank 8,000,000
01/15/99 Chase Manhattan Bank 7,500,000
01/19/99 Chase Manhattan Bank 11,500,000
01/19/99 Summit Bank 2,900,000
01/20/99 Sumitomo Bank 14,800,000
01/21/99 Chase Manhattan Bank 7,400,000
01/21/99 Sumitomo Bank 7,100,000
01/22/99 Banca Popolare di Milano 5,300,000
01/22/99 Chase Manhattan Bank 8,000,000
01/22/99 Summit Bank 2,300,000
01/25/99 Chase Manhattan Bank 7,500,000
01/25/99 Chase Manhattan Bank 9,600,000
01/26/99 Banca Popolare di Milano 11,500,000
01/26/99 Summit Bank 2,900,000
01/27/99 Summit Bank 14,800,000
01/28/99 Chase Manhattan Bank 4,100,000
01/28/99 Credit Agricole 12,300,000
01/29/99 Chase Manhattan Bank 12,000,000
01/29/99 Chase Manhattan Bank 7,000,000
02/01/99 Banca Popolare di Milano 1,200,000
02/01/99 Chase Manhattan Bank 10,000,000
02/02/99 Chase Manhattan Bank 2,200,000
02/02/99 Chase Manhattan Bank 7,000,000
02/02/99 Summit Bank 5,200,000
02/03/99 Chase Manhattan Bank 14,800,000
02/03/99 Chase Manhattan Bank 2,200,000
02/04/99 Banca Popolare di Milano 16,500,000
02/05/99 Banca Popolare di Milano 10,100,000
02/05/99 Chase Manhattan Bank 7,800,000
02/08/99 Chase Manhattan Bank 1,300,000
02/08/99 Chase Manhattan Bank 7,800,000
02/08/99 Chase Manhattan Bank 10,000,000
02/09/99 Chase Manhattan Bank 12,100,000
02/10/99 Chase Manhattan Bank 1,000,000
02/10/99 Sumitomo Bank 10,000,000
02/11/99 Banca Popolare di Milano 19,900,000
-12-
<PAGE>
GPU continued
- -------------
Date Bank Amount
- ---- ---- ------
02/12/99 Banca Popolare di Milano 10,100,000
02/12/99 Chase Manhattan Bank 19,600,000
02/16/99 Chase Manhattan Bank 13,100,000
02/17/99 Chase Manhattan Bank 11,000,000
02/18/99 Sumitomo Bank 20,200,000
02/19/99 Chase Manhattan Bank 20,000,000
02/19/99 Summit Bank 9,700,000
02/19/99 Summit Bank 2,000,000
02/22/99 Chase Manhattan Bank 4,600,000
02/22/99 Chase Manhattan Bank 15,000,000
02/23/99 Chase Manhattan Bank 12,500,000
02/23/99 Mellon Bank 3,700,000
02/24/99 Chase Manhattan Bank 15,300,000
02/25/99 Sumitomo Bank 21,900,000
02/26/99 Banca Popolare di Milano 21,400,000
02/26/99 Sumitomo Bank 3,100,000
03/03/99 Banca Popolare di Milano 1,700,000
03/04/99 Chase Manhattan Bank 13,700,000
03/04/99 Sumitomo Bank 3,400,000
03/05/99 Chase Manhattan Bank 20,600,000
03/05/99 First Union National Bank 7,000,000
03/08/99 Chase Manhattan Bank 21,000,000
03/09/99 Banca Popolare di Milano 9,100,000
03/10/99 Banca Popolare di Milano 9,000,000
03/11/99 Sumitomo Bank 14,000,000
03/12/99 Sumitomo Bank 14,500,000
03/15/99 Chase Manhattan Bank 11,000,000
03/16/99 Banca Popolare di Milano 1,400,000
03/16/99 Chase Manhattan Bank 10,000,000
03/17/99 Banca Popolare di Milano 1,400,000
03/17/99 Chase Manhattan Bank 11,300,000
03/17/99 Sumitomo Bank 11,800,000
03/18/99 Banca Popolare di Milano 600,000
03/18/99 Banca Popolare di Milano 10,000,000
03/18/99 Chase Manhattan Bank 11,300,000
03/18/99 First Union National Bank 800,000
03/18/99 Sumitomo Bank 11,800,000
03/18/99 Summit Bank 20,000,000
03/19/99 Sumitomo Bank 23,200,000
03/22/99 Chase Manhattan Bank 11,800,000
03/23/99 Chase Manhattan Bank 10,000,000
03/24/99 Chase Manhattan Bank 1,200,000
03/25/99 Chase Manhattan Bank 2,800,000
03/26/99 Sumitomo Bank 4,000,000
03/29/99 Chase Manhattan Bank 5,100,000
03/30/99 Chase Manhattan Bank 2,500,000
03/30/99 Summit Bank 3,400,000
03/31/99 First Union National Bank 7,100,000
-13-
<PAGE>
JCP&L
- -----
Date Bank Amount
---- ---- ------
01/04/99 Chase Manhattan Bank 10,000,000
01/07/99 PNC Bank 14,700,000
01/08/99 Chase Manhattan Bank 5,000,000
01/12/99 First Union National Bank 23,600,000
01/22/99 Banca Popolare di Milano 1,300,000
01/22/99 Chase Manhattan Bank 12,500,000
01/25/99 First Union National Bank 2,000,000
01/28/99 Citibank 15,000,000
01/29/99 Chase Manhattan Bank 16,000,000
02/08/99 Citibank 14,100,000
02/16/99 Chase Manhattan Bank 3,000,000
02/16/99 Chase Manhattan Bank 7,900,000
02/17/99 Chase Manhattan Bank 6,100,000
02/17/99 Citibank 1,400,000
02/19/99 Chase Manhattan Bank 2,300,000
02/19/99 Sumitomo Bank 3,100,000
02/19/99 Summit Bank 5,800,000
02/22/99 Chase Manhattan Bank 5,200,000
02/26/99 Citibank 9,600,000
03/05/99 First Union National Bank 5,500,000
03/15/99 Chase Manhattan Bank 7,500,000
03/15/99 Sumitomo Bank 600,000
03/19/99 Chase Manhattan Bank 7,500,000
03/22/99 First Union National Bank 6,000,000
03/22/99 First Union National Bank 2,000,000
03/25/99 Mellon Bank 10,100,000
03/30/99 Bank of Pennsylvania 8,600,000
03/31/99 Chase Manhattan Bank 11,600,000
Met-Ed
- ------
Date Bank Amount
---- ---- ------
01/07/99 PNC Bank 4,200,000
01/07/99 Sumitomo Bank 5,100,000
01/12/99 Bank of Pennsylvania 12,200,000
01/12/99 Citibank 2,700,000
01/13/99 Chase Manhattan Bank 5,000,000
01/13/99 Citibank 2,800,000
01/15/99 Chase Manhattan Bank 23,100,000
01/20/99 Summit Bank 17,100,000
01/25/99 Chase Manhattan Bank 11,800,000
01/26/99 Chase Manhattan Bank 7,000,000
01/27/99 Banca Popolare di Milano 2,000,000
01/27/99 Sumitomo Bank 3,100,000
02/03/99 Chase Manhattan Bank 5,200,000
02/03/99 Summit Bank 3,300,000
02/08/99 Chase Manhattan Bank 6,400,000
02/09/99 Chase Manhattan Bank 5,400,000
02/09/99 Chase Manhattan Bank 5,400,000
02/09/99 Sumitomo Bank 2,300,000
02/16/99 Chase Manhattan Bank 1,000,000
02/16/99 Chase Manhattan Bank 7,900,000
02/22/99 Chase Manhattan Bank 12,700,000
-14-
<PAGE>
Met-Ed continued
- ----------------
Date Bank Amount
---- ---- ------
02/23/99 Banca Popolare di Milano 8,600,000
03/04/99 Chase Manhattan Bank 1,300,000
03/09/99 Chase Manhattan Bank 8,400,000
03/10/99 Summit Bank 20,000,000
03/12/99 Sumitomo Bank 5,700,000
03/17/99 Mellon Bank 5,800,000
03/18/99 Banca Popolare di Milano 8,600,000
03/18/99 Citibank 2,400,000
03/18/99 Mellon Bank 5,800,000
03/19/99 Banca Popolare di Milano 10,000,000
03/22/99 Chase Manhattan Bank 16,900,000
03/24/99 Chase Manhattan Bank 200,000
03/24/99 Chase Manhattan Bank 12,500,000
03/25/99 Mellon Bank 6,000,000
03/26/99 Chase Manhattan Bank 7,500,000
03/29/99 Mellon Bank 3,900,000
03/29/99 Summit Bank 3,400,000
Penelec
- -------
Date Bank Amount
---- ---- ------
01/05/99 Summit Bank 17,100,000
01/07/99 Citibank 14,800,000
01/11/99 Summit Bank 2,900,000
01/13/99 Summit Bank 10,000,000
01/27/99 Chase Manhattan Bank 20,000,000
02/08/99 Chase Manhattan Bank 1,000,000
03/02/99 First Union National Bank 1,000,000
03/05/99 Banca Popolare di Milano 1,000,000
03/08/99 Mellon Bank 4,100,000
03/09/99 Chase Manhattan Bank 2,000,000
03/17/99 Citibank 9,200,000
03/18/99 Banca Popolare di Milano 200,000
03/18/99 Chase Manhattan Bank 12,500,000
03/18/99 First Union National Bank 15,200,000
03/18/99 Mellon Bank 8,400,000
To summarize the above transactions, at March 31, 1999 the GPU
Companies had outstanding unsecured promissory notes pursuant to informal bank
lines of credit as follows:
GPU $9,200,000
JCP&L 28,900,000
Met-Ed 65,300,000
Penelec 0
-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: April 8, 1999
-16-
