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. ("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, December 22, 1997, and June 22, 1999,with respect to said Declaration, as
follows:
1. During the period January 1, 2000 through March 31, 2000, 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, 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-
<PAGE>
2. At the close of business on December 31, 1999, 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 $ 53,600,000
3. During the period January 1, 2000 through March 31, 2000, GPU,
JCP&L, Met-Ed, and Penelec issued and sold (and paid at maturity where such
commercial paper matured on or before March 31, 2000) unsecured short-term
promissory notes as commercial paper as follows:
GPU
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
02/09/00 02/15/00 $ 20,000,000
02/09/00 02/15/00 7,000,000
02/09/00 02/16/00 7,000,000
02/09/00 02/17/00 10,034,000
02/09/00 02/17/00 5,000,000
02/09/00 02/22/00 11,046,000
02/09/00 03/01/00 30,106,000
02/15/00 02/16/00 18,104,000
02/15/00 02/22/00 7,109,000
02/15/00 02/25/00 1,903,000
02/16/00 03/01/00 18,142,000
02/16/00 03/01/00 7,017,000
02/17/00 02/22/00 5,005,000
02/17/00 02/24/00 2,000,000
02/17/00 03/01/00 8,050,000
02/22/00 03/06/00 2,750,000
02/22/00 03/10/00 20,475,000
02/24/00 03/01/00 2,002,000
02/25/00 03/01/00 1,902,000
03/01/00 03/06/00 30,131,000
03/01/00 03/08/00 5,000,000
03/01/00 03/09/00 1,009,000
03/01/00 03/10/00 1,020,000
03/01/00 03/15/00 30,171,000
03/06/00 03/07/00 30,135,000
03/06/00 03/14/00 2,754,000
03/07/00 03/08/00 10,105,000
03/07/00 03/13/00 4,545,000
03/07/00 03/14/00 15,510,000
03/08/00 03/10/00 7,150,000
03/08/00 03/13/00 5,005,000
03/08/00 03/14/00 2,956,000
03/09/00 03/13/00 1,011,000
-3-
<PAGE>
GPU cont'd
- ----------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
03/10/00 03/13/00 $ 21,506,000
03/10/00 03/14/00 7,155,000
03/13/00 03/14/00 4,546,000
03/13/00 03/14/00 27,525,000
03/14/00 03/15/00 30,286,000
03/14/00 03/24/00 30,221,000
03/15/00 03/16/00 30,291,000
03/15/00 04/04/00 30,274,000
03/16/00 03/17/00 30,295,000
03/17/00 03/20/00 30,310,000
03/24/00 03/27/00 30,236,000
03/27/00 03/28/00 30,241,000
03/28/00 04/03/00 10,276,000
03/28/00 04/04/00 20,000,000
Met-Ed
- ------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
01/04/00 01/05/00 $ 1,200,000
01/20/00 01/21/00 7,000,000
01/21/00 01/24/00 6,200,000
01/24/00 01/25/00 4,100,000
01/25/00 01/26/00 2,500,000
01/26/00 01/27/00 4,000,000
01/27/00 01/28/00 3,000,000
01/31/00 02/01/00 2,600,000
02/01/00 02/08/00 13,800,000
02/02/00 02/03/00 7,400,000
02/03/00 02/04/00 6,300,000
02/04/00 02/07/00 7,200,000
02/07/00 02/14/00 7,300,000
02/08/00 02/09/00 12,700,000
02/09/00 02/10/00 11,500,000
02/10/00 02/11/00 11,200,000
02/11/00 02/18/00 12,000,000
02/14/00 02/15/00 4,100,000
02/16/00 02/17/00 1,900,000
02/17/00 02/18/00 2,000,000
02/18/00 02/22/00 14,000,000
02/22/00 03/06/00 4,236,000
02/22/00 03/07/00 20,164,000
02/22/00 03/08/00 5,000,000
02/22/00 03/10/00 6,500,000
02/23/00 02/24/00 4,400,000
02/24/00 02/25/00 1,700,000
-4-
<PAGE>
Met-Ed cont'd
- -------------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
02/25/00 02/28/00 $ 1,800,000
03/03/00 03/10/00 9,000,000
03/07/00 03/08/00 13,400,000
03/07/00 03/14/00 10,000,000
03/08/00 03/09/00 26,400,000
03/09/00 03/10/00 21,700,000
03/10/00 03/13/00 39,300,000
03/13/00 03/14/00 39,300,000
03/14/00 03/15/00 46,900,000
03/15/00 03/16/00 50,000,000
03/15/00 03/16/00 20,900,000
03/16/00 03/17/00 69,300,000
03/17/00 03/20/00 68,600,000
03/20/00 03/21/00 5,500,000
03/20/00 03/21/00 39,500,000
03/20/00 03/27/00 30,000,000
03/21/00 03/22/00 35,000,000
03/21/00 04/04/00 10,000,000
03/22/00 03/23/00 20,000,000
03/22/00 03/29/00 15,000,000
03/23/00 03/24/00 20,000,000
03/24/00 03/28/00 20,000,000
03/27/00 03/28/00 30,000,000
03/28/00 03/29/00 39,900,000
03/28/00 04/04/00 10,000,000
03/29/00 03/30/00 3,900,000
03/29/00 03/30/00 50,000,000
03/30/00 03/31/00 47,323,000
03/30/00 04/07/00 1,577,000
03/31/00 04/03/00 4,900,000
Penelec
- -------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
02/23/00 02/24/00 $ 10,000,000
02/23/00 03/01/00 16,700,000
03/01/00 03/02/00 16,400,000
03/02/00 03/03/00 19,100,000
03/03/00 03/06/00 22,400,000
03/06/00 03/07/00 20,000,000
03/07/00 03/08/00 14,300,000
03/07/00 03/14/00 10,000,000
03/08/00 03/09/00 20,800,000
03/09/00 03/10/00 15,700,000
03/10/00 03/13/00 18,800,000
-5-
<PAGE>
Penelec cont'd
- --------------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
03/13/00 03/14/00 $ 17,000,000
03/14/00 03/15/00 25,400,000
03/15/00 03/16/00 50,000,000
03/15/00 03/16/00 1,900,000
03/16/00 03/17/00 49,300,000
03/17/00 03/20/00 48,100,000
03/20/00 03/21/00 44,200,000
03/21/00 03/22/00 33,500,000
03/21/00 04/04/00 10,000,000
03/22/00 03/23/00 20,000,000
03/22/00 03/29/00 11,400,000
03/23/00 03/24/00 17,500,000
03/24/00 03/28/00 21,300,000
03/27/00 03/28/00 17,600,000
03/28/00 03/29/00 16,100,000
03/29/00 03/30/00 24,900,000
03/30/00 04/06/00 500,000
03/30/00 04/07/00 20,900,000
03/31/00 04/03/00 30,000,000
03/31/00 04/04/00 29,751,000
03/31/00 04/05/00 1,000,000
03/31/00 04/06/00 1,000,000
03/31/00 04/07/00 788,000
03/31/00 04/10/00 6,061,000
To summarize the above transactions, at March 31, 2000, GPU, JCP&L, Met-Ed
and Penelec had outstanding unsecured short-term promissory notes issued as
commercial paper as follows:
Company Amount
------- ------
GPU $ 60,550,000
JCP&L 0
Met-Ed 26,477,000
Penelec 100,000,000
4. At the close of business on December 31, 1999, the GPU Companies had
outstanding unsecured short-term promissory notes representing bank borrowings
under informal bank lines, as follows:
Company Amount
------- ------
GPU $123,500,000
JCP&L 0
Met-Ed 0
Penelec 0
-6-
<PAGE>
During the period January 1, 2000 through March 31, 2000, the GPU
Companies issued unsecured promissory notes representing bank borrowings under
informal bank lines of credit as follows:
GPU
- ----
Issue
Date Bank Amount Maturity
- ---- ---- --------- --------
01/03/00 SUMMIT BANK $ 20,000,000 01/04/00
01/04/00 SUMMIT BANK 19,900,000 01/05/00
01/05/00 CHASE MANHATTAN BANK 19,900,000 01/06/00
01/06/00 CHASE MANHATTAN BANK 16,600,000 01/07/00
01/06/00 SUMMIT BANK 20,000,000 01/27/00
01/07/00 SUMITOMO BANK 26,100,000 01/14/00
01/10/00 CHASE MANHATTAN BANK 20,000,000 01/31/00
01/10/00 MERCHANTS OF BANGOR 600,000 02/07/00
01/12/00 CHASE MANHATTAN BANK 28,300,000 01/13/00
01/13/00 CHASE MANHATTAN BANK 20,000,000 01/14/00
01/13/00 MERCHANTS OF BANGOR 1,000,000 02/11/00
01/13/00 SUMITOMO BANK 8,900,000 01/27/00
01/14/00 CHASE MANHATTAN BANK 46,500,000 01/18/00
01/18/00 CREDIT AGRICOLE 20,000,000 01/25/00
01/18/00 SUMITOMO BANK 26,100,000 01/25/00
01/19/00 CHASE MANHATTAN BANK 1,000,000 01/20/00
01/20/00 CHASE MANHATTAN BANK 1,500,000 01/21/00
01/21/00 BANK OF NEW YORK 2,000,000 01/24/00
01/24/00 CHASE MANHATTAN BANK 2,400,000 01/25/00
01/25/00 CHASE MANHATTAN BANK 22,900,000 01/26/00
01/25/00 SUMITOMO BANK 26,100,000 01/26/00
01/26/00 CHASE MANHATTAN BANK 49,900,000 01/27/00
01/27/00 CHASE MANHATTAN BANK 24,000,000 01/28/00
01/27/00 SUMITOMO BANK 35,000,000 02/03/00
01/27/00 SUMMIT BANK 20,000,000 02/03/00
01/28/00 BANCA POPOLARE DI MILANO 30,000,000 01/31/00
01/28/00 BANK OF NEW YORK 25,000,000 01/31/00
01/31/00 BANCA POPOLARE DI MILANO 30,000,000 02/03/00
01/31/00 CHASE MANHATTAN BANK 26,000,000 02/01/00
01/31/00 CHASE MANHATTAN BANK 20,000,000 02/03/00
02/01/00 CHASE MANHATTAN BANK 26,100,000 02/02/00
02/02/00 CHASE MANHATTAN BANK 26,500,000 02/03/00
02/03/00 BANCA POPOLARE DI MILANO 7,100,000 02/04/00
02/03/00 CHASE MANHATTAN BANK 50,000,000 02/09/00
02/03/00 CHASE MANHATTAN BANK 20,000,000 02/09/00
02/03/00 SUMITOMO BANK 35,000,000 02/04/00
02/03/00 SUMMIT BANK 20,000,000 02/09/00
02/04/00 BANCA POPOLARE DI MILANO 30,000,000 02/07/00
02/04/00 SUMITOMO BANK 11,900,000 02/07/00
02/07/00 BANCA POPOLARE DI MILANO 7,700,000 02/08/00
02/07/00 SUMITOMO BANK 35,000,000 02/09/00
02/08/00 BANCA POPOLARE DI MILANO 7,600,000 02/09/00
02/09/00 CHASE MANHATTAN BANK 20,000,000 02/23/00
-7-
<PAGE>
GPU cont'd
- ----------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
02/09/00 CHASE MANHATTAN BANK $ 22,700,000 02/10/00
02/10/00 CHASE MANHATTAN BANK 3,200,000 02/11/00
02/10/00 SUMMIT BANK 20,000,000 02/23/00
02/11/00 SUMITOMO BANK 4,400,000 02/14/00
02/14/00 CHASE MANHATTAN BANK 4,400,000 02/15/00
02/15/00 SUMITOMO BANK 4,600,000 02/16/00
02/16/00 SUMITOMO BANK 5,100,000 02/17/00
02/17/00 SUMITOMO BANK 5,200,000 02/18/00
02/18/00 SUMITOMO BANK 5,900,000 02/22/00
02/22/00 SUMITOMO BANK 6,400,000 02/23/00
02/23/00 CHASE MANHATTAN BANK 2,600,000 02/24/00
02/23/00 CHASE MANHATTAN BANK 11,500,000 03/03/00
02/25/00 BANCA POPOLARE DI MILANO 1,100,000 02/28/00
03/02/00 CHASE MANHATTAN BANK 1,200,000 03/03/00
03/03/00 CHASE MANHATTAN BANK 13,900,000 03/06/00
03/06/00 CHASE MANHATTAN BANK 15,700,000 03/07/00
03/07/00 CHASE MANHATTAN BANK 17,500,000 03/08/00
03/08/00 CHASE MANHATTAN BANK 17,800,000 03/09/00
03/09/00 CHASE MANHATTAN BANK 19,600,000 03/10/00
03/10/00 CHASE MANHATTAN BANK 20,000,000 03/13/00
03/13/00 CHASE MANHATTAN BANK 20,000,000 03/14/00
03/14/00 CHASE MANHATTAN BANK 20,000,000 03/15/00
03/15/00 CHASE MANHATTAN BANK 20,000,000 03/16/00
03/15/00 SUMMIT BANK 1,000,000 03/16/00
03/16/00 CHASE MANHATTAN BANK 20,000,000 03/17/00
03/16/00 SUMITOMO BANK 1,000,000 03/17/00
03/17/00 CHASE MANHATTAN BANK 20,000,000 03/20/00
03/20/00 ALLFIRST BANK 15,000,000 04/04/00
03/20/00 CHASE MANHATTAN BANK 20,000,000 03/21/00
03/20/00 SUMITOMO BANK 18,200,000 03/21/00
03/21/00 CHASE MANHATTAN BANK 20,000,000 04/04/00
03/21/00 SUMITOMO BANK 16,200,000 03/22/00
03/22/00 CHASE MANHATTAN BANK 21,200,000 03/23/00
03/23/00 CHASE MANHATTAN BANK 21,100,000 03/24/00
03/24/00 CHASE MANHATTAN BANK 19,700,000 03/27/00
03/24/00 MERCHANTS OF BANGOR 1,600,000 04/04/00
03/27/00 SUMITOMO BANK 19,700,000 03/28/00
03/28/00 SUMITOMO BANK 19,700,000 03/29/00
03/29/00 CHASE MANHATTAN BANK 19,700,000 03/30/00
03/30/00 SUMITOMO BANK 19,700,000 03/31/00
03/31/00 SUMMIT BANK 19,700,000 04/04/00
-8-
<PAGE>
Met-Ed
- ------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
03/20/00 SUMMIT BANK $ 10,000,000 03/21/00
03/21/00 SUMITOMO BANK 9,600,000 03/22/00
03/22/00 CHASE MANHATTAN BANK 7,500,000 03/23/00
03/23/00 CHASE MANHATTAN BANK 6,200,000 03/24/00
03/24/00 CHASE MANHATTAN BANK 5,200,000 03/27/00
03/27/00 SUMITOMO BANK 2,600,000 03/28/00
Penelec
- -------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
02/24/00 MELLON BANK $ 6,900,000 02/25/00
03/20/00 MELLON BANK 20,000,000 03/27/00
03/28/00 MELLON BANK 20,000,000 04/07/00
03/31/00 CHASE MANHATTAN BANK 1,200,000 04/03/00
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, 2000 through March 31, 2000, the Companies
repaid unsecured promissory notes issued to banks, as follows:
GPU
- ---
Date Bank Amount
- ---- ---- ------
01/03/00 SUMMIT BANK $ 20,000,000
01/04/00 SUMMIT BANK 20,000,000
01/05/00 SUMMIT BANK 19,900,000
01/06/00 ALLFIRST BANK 15,000,000
01/06/00 CHASE MANHATTAN BANK 19,900,000
01/06/00 MERCHANTS OF BANGOR 1,000,000
01/07/00 CHASE MANHATTAN BANK 16,600,000
01/07/00 FIRST UNION 9,000,000
01/10/00 CHASE MANHATTAN BANK 20,000,000
01/12/00 BANK OF NEW YORK 27,500,000
01/13/00 CHASE MANHATTAN BANK 28,300,000
01/13/00 MERCHANTS OF BANGOR 1,000,000
-9-
<PAGE>
GPU cont'd
- ----------
Date Bank Amount
- ---- ---- ------
01/14/00 CHASE MANHATTAN BANK $ 20,000,000
01/14/00 SUMITOMO BANK 26,100,000
01/18/00 CHASE MANHATTAN BANK 46,500,000
01/20/00 CHASE MANHATTAN BANK 1,000,000
01/21/00 CHASE MANHATTAN BANK 1,500,000
01/24/00 BANK OF NEW YORK 2,000,000
01/25/00 CHASE MANHATTAN BANK 2,400,000
01/25/00 CREDIT AGRICOLE 20,000,000
01/25/00 SUMITOMO BANK 26,100,000
01/26/00 CHASE MANHATTAN BANK 22,900,000
01/26/00 SUMITOMO BANK 26,100,000
01/27/00 CHASE MANHATTAN BANK 49,900,000
01/27/00 SUMITOMO BANK 8,900,000
01/27/00 SUMMIT BANK 20,000,000
01/28/00 BANCO POPOLARE DI MILANO 30,000,000
01/28/00 CHASE MANHATTAN BANK 24,000,000
01/31/00 BANCO POPOLARE DI MILANO 30,000,000
01/31/00 BANK OF NEW YORK 25,000,000
01/31/00 CHASE MANHATTAN BANK 20,000,000
02/01/00 CHASE MANHATTAN BANK 26,000,000
02/02/00 CHASE MANHATTAN BANK 26,100,000
02/03/00 BANCO POPOLARE DI MILANO 30,000,000
02/03/00 CHASE MANHATTAN BANK 26,500,000
02/03/00 CHASE MANHATTAN BANK 20,000,000
02/03/00 SUMITOMO BANK 35,000,000
02/03/00 SUMMIT BANK 20,000,000
02/04/00 BANCO POPOLARE DI MILANO 7,100,000
02/04/00 SUMITOMO BANK 35,000,000
02/07/00 BANCO POPOLARE DI MILANO 30,000,000
02/07/00 MERCHANTS OF BANGOR 600,000
02/07/00 SUMITOMO BANK 11,900,000
02/08/00 BANCO POPOLARE DI MILANO 7,700,000
02/09/00 BANCO POPOLARE DI MILANO 7,600,000
02/09/00 CHASE MANHATTAN BANK 50,000,000
02/09/00 CHASE MANHATTAN BANK 20,000,000
02/09/00 SUMITOMO BANK 35,000,000
02/09/00 SUMMIT BANK 20,000,000
02/10/00 CHASE MANHATTAN BANK 22,700,000
02/11/00 CHASE MANHATTAN BANK 3,200,000
02/11/00 MERCHANTS OF BANGOR 1,000,000
02/14/00 SUMITOMO BANK 4,400,000
02/15/00 CHASE MANHATTAN BANK 4,400,000
02/16/00 SUMITOMO BANK 4,600,000
02/17/00 SUMITOMO BANK 5,100,000
02/18/00 SUMITOMO BANK 5,200,000
02/22/00 SUMITOMO BANK 5,900,000
02/23/00 CHASE MANHATTAN BANK 20,000,000
02/23/00 SUMITOMO BANK 6,400,000
02/23/00 SUMMIT BANK 20,000,000
-10-
<PAGE>
GPU cont'd
- ----------
Date Bank Amount
- ---- ---- ------
02/24/00 CHASE MANHATTAN BANK $ 2,600,000
02/28/00 BANCO POPOLARE DI MILANO 1,100,000
03/03/00 CHASE MANHATTAN BANK 11,500,000
03/03/00 CHASE MANHATTAN BANK 1,200,000
03/06/00 CHASE MANHATTAN BANK 13,900,000
03/07/00 CHASE MANHATTAN BANK 15,700,000
03/08/00 CHASE MANHATTAN BANK 17,500,000
03/09/00 CHASE MANHATTAN BANK 17,800,000
03/10/00 CHASE MANHATTAN BANK 19,600,000
03/13/00 CHASE MANHATTAN BANK 20,000,000
03/14/00 CHASE MANHATTAN BANK 20,000,000
03/15/00 CHASE MANHATTAN BANK 20,000,000
03/16/00 CHASE MANHATTAN BANK 20,000,000
03/16/00 SUMMIT BANK 1,000,000
03/17/00 CHASE MANHATTAN BANK 20,000,000
03/17/00 SUMITOMO BANK 1,000,000
03/20/00 CHASE MANHATTAN BANK 20,000,000
03/21/00 CHASE MANHATTAN BANK 20,000,000
03/21/00 SUMITOMO BANK 18,200,000
03/22/00 SUMITOMO BANK 16,200,000
03/23/00 CHASE MANHATTAN BANK 21,200,000
03/24/00 CHASE MANHATTAN BANK 21,100,000
03/27/00 CHASE MANHATTAN BANK 19,700,000
03/28/00 SUMITOMO BANK 19,700,000
03/29/00 SUMITOMO BANK 19,700,000
03/30/00 CHASE MANHATTAN BANK 19,700,000
03/31/00 SUMITOMO BANK 19,700,000
Met-Ed
Date Bank Amount
- ---- ---- ------
03/21/00 SUMMIT BANK $ 10,000,000
03/22/00 SUMITOMO BANK 9,600,000
03/23/00 CHASE MANHATTAN BANK 7,500,000
03/24/00 CHASE MANHATTAN BANK 6,200,000
03/27/00 CHASE MANHATTAN BANK 5,200,000
03/28/00 SUMITOMO BANK 2,600,000
-11-
<PAGE>
Penelec
Date Bank Amount
- ---- ---- ------
02/25/00 MELLON BANK $ 6,900,000
03/27/00 MELLON BANK 20,000,000
To summarize the above transactions, at March 31, 2000 the GPU
Companies had outstanding unsecured promissory notes pursuant to informal bank
lines of credit as follows:
GPU $ 56,300,000
JCP&L 0
Met-Ed 0
Penelec 21,200,000
-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 10, 2000
