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,
December 22, 1997, and June 22, 1999,with respect to said Declaration, as
follows:
1. During the period October 1, 1999 through December 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 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 September 30, 1999, JCP&L, Met-Ed and
Penelec had outstanding unsecured short-term promissory notes issued as
commercial paper as follows:
Company Amount
------- ------
JCP&L $ 84,000,000
Met-Ed 0
Penelec 0
3. During the period October 1, 1999 through December 31, 1999, JCP&L,
Met-Ed, and Penelec issued and sold (and paid at maturity where such commercial
paper matured on or before December 31, 1999) unsecured short-term promissory
notes as commercial paper as follows:
JCP&L
- -----
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
10/01/99 10/08/99 $ 20,000,000
10/01/99 10/15/99 20,000,000
10/01/99 10/22/99 10,000,000
10/01/99 11/01/99 8,800,000
10/04/99 10/07/99 5,400,000
10/05/99 10/06/99 16,500,000
10/05/99 11/01/99 10,000,000
10/06/99 10/07/99 9,200,000
10/07/99 10/14/99 13,200,000
10/08/99 10/13/99 15,200,000
10/12/99 10/13/99 4,400,000
10/13/99 10/14/99 7,200,000
10/14/99 10/15/99 20,000,000
10/15/99 10/18/99 32,900,000
10/18/99 10/19/99 29,500,000
10/19/99 10/20/99 21,000,000
10/20/99 10/21/99 20,000,000
10/20/99 10/27/99 14,400,000
10/21/99 10/22/99 13,300,000
10/22/99 10/25/99 12,600,000
10/25/99 10/26/99 11,200,000
10/26/99 10/27/99 4,300,000
10/27/99 10/28/99 16,100,000
10/27/99 10/28/99 50,000,000
10/28/99 11/02/99 12,100,000
10/28/99 11/02/99 50,000,000
10/29/99 11/01/99 9,300,000
11/01/99 11/08/99 30,000,000
11/01/99 11/15/99 28,300,000
-3-
<PAGE>
JCP&L cont'd
- ----- ------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
11/02/99 11/03/99 21,000,000
11/02/99 11/09/99 20,000,000
11/02/99 11/16/99 20,000,000
11/03/99 11/04/99 27,400,000
11/04/99 11/05/99 20,100,000
11/05/99 11/08/99 18,100,000
11/08/99 11/09/99 20,000,000
11/08/99 11/15/99 21,700,000
11/09/99 11/10/99 31,300,000
11/10/99 11/12/99 27,800,000
11/12/99 11/17/99 22,300,000
11/15/99 11/16/99 39,000,000
11/16/99 11/17/99 3,200,000
11/16/99 11/17/99 50,000,000
11/17/99 11/18/99 20,000,000
11/17/99 11/19/99 50,000,000
11/17/99 11/19/99 7,600,000
11/18/99 11/23/99 17,800,000
11/19/99 11/22/99 20,000,000
11/19/99 11/23/99 31,400,000
11/22/99 11/29/99 29,100,000
11/23/99 11/24/99 20,000,000
11/23/99 11/29/99 22,700,000
Met-Ed
- ------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
10/01/99 10/04/99 $ 10,000,000
10/01/99 10/12/99 7,993,000
10/01/99 10/15/99 3,407,000
10/04/99 10/05/99 6,600,000
10/05/99 10/06/99 6,800,000
10/06/99 10/07/99 6,100,000
10/07/99 10/08/99 4,600,000
10/08/99 10/12/99 3,500,000
10/12/99 10/13/99 10,400,000
10/13/99 10/14/99 5,300,000
10/14/99 10/15/99 5,700,000
10/15/99 10/18/99 5,600,000
10/18/99 10/19/99 8,000,000
10/19/99 10/20/99 5,800,000
10/20/99 10/21/99 4,500,000
10/21/99 10/22/99 2,400,000
10/22/99 10/25/99 2,500,000
10/25/99 10/26/99 1,700,000
-4-
<PAGE>
Met-Ed cont'd
- ------ ------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
10/26/99 10/27/99 1,300,000
10/27/99 10/28/99 1,900,000
10/29/99 11/01/99 7,000,000
11/01/99 11/02/99 11,900,000
11/02/99 11/03/99 25,500,000
11/03/99 11/04/99 23,800,000
11/04/99 11/05/99 23,300,000
11/05/99 11/08/99 23,200,000
11/08/99 11/09/99 20,400,000
11/09/99 11/10/99 18,200,000
11/10/99 11/12/99 16,700,000
11/12/99 11/16/99 15,900,000
11/16/99 11/17/99 16,000,000
11/17/99 11/18/99 18,400,000
11/18/99 11/19/99 17,800,000
11/19/99 11/22/99 17,000,000
11/22/99 11/23/99 7,000,000
11/22/99 11/29/99 10,000,000
11/23/99 11/24/99 3,900,000
Penelec
-------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
10/27/99 10/28/99 $ 10,000,000
10/27/99 11/03/99 14,200,000
10/28/99 11/01/99 7,500,000
11/01/99 11/02/99 4,300,000
11/02/99 11/03/99 11,200,000
11/03/99 11/04/99 27,000,000
11/04/99 11/05/99 24,700,000
11/05/99 11/08/99 23,100,000
11/08/99 11/09/99 19,800,000
11/09/99 11/10/99 15,800,000
11/10/99 11/12/99 14,000,000
11/12/99 11/16/99 10,800,000
11/16/99 11/17/99 6,700,000
11/17/99 11/18/99 7,800,000
12/15/99 12/16/99 8,600,000
12/15/99 12/16/99 11,400,000
12/15/99 12/22/99 26,600,000
12/16/99 12/17/99 8,500,000
12/16/99 12/23/99 10,000,000
12/17/99 12/20/99 6,400,000
12/20/99 12/21/99 16,600,000
12/21/99 01/07/00 14,600,000
-5-
<PAGE>
Penelec cont'd
- ------- ------
Date of Issuance Maturity Date Amount
- ---------------- ------------- ------
12/22/99 01/04/00 14,982,000
12/22/99 01/05/00 1,800,000
12/22/99 01/06/00 7,218,000
12/23/99 01/10/00 3,435,000
12/23/99 01/11/00 2,100,000
12/23/99 01/12/00 9,465,000
To summarize the above transactions, at 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
4. At the close of business on September 30, 1999, the GPU Companies had
outstanding unsecured short-term promissory notes representing bank borrowings
under informal bank lines, as follows:
Company Amount
------- ------
GPU $181,000,000
JCP&L 0
Met-Ed 0
Penelec 0
During the period October 1,1999 through December 31,1999, the GPU
Companies issued unsecured promissory notes representing bank borrowings under
informal bank lines of credit as follows:
-6-
<PAGE>
GPU
- ---
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
10/04/99 MERCHANTS BANK OF BANGOR $ 1,000,000 11/04/99
10/04/99 SUMITOMO BANK 18,800,000 10/18/99
10/05/99 BANCA POPOLARE DI MILANO 9,100,000 10/06/99
10/05/99 SUMITOMO BANK 16,200,000 10/14/99
10/06/99 BANCA POPOLARE DI MILANO 30,000,000 10/07/99
10/06/99 CHASE MANHATTAN BANK 7,400,000 10/13/99
10/07/99 BANCA POPOLARE DI MILANO 6,600,000 10/14/99
10/07/99 BANK OF NEW YORK 32,000,000 10/08/99
10/07/99 CHASE MANHATTAN BANK 26,600,000 10/08/99
10/07/99 SUMMIT BANK 20,000,000 10/15/99
10/08/99 BANCA POPOLARE DI MILANO 22,700,000 10/12/99
10/08/99 ALLFIRST BANK 11,000,000 10/15/99
10/08/99 CHASE MANHATTAN BANK 26,600,000 10/12/99
10/08/99 CREDIT AGRICOLE 20,000,000 10/13/99
10/12/99 BANCA POPOLARE DI MILANO 23,400,000 10/13/99
10/12/99 ALLFIRST BANK 1,000,000 10/26/99
10/12/99 CHASE MANHATTAN BANK 26,600,000 10/19/99
10/12/99 CHASE MANHATTAN BANK 20,000,000 11/02/99
10/13/99 BANCA POPOLARE DI MILANO 14,600,000 10/14/99
10/13/99 BANK OF NEW YORK 32,000,000 10/14/99
10/13/99 CHASE MANHATTAN BANK 23,400,000 10/20/99
10/14/99 BANCA POPOLARE DI MILANO 8,800,000 10/15/99
10/14/99 BANK OF NEW YORK 32,000,000 10/15/99
10/14/99 SUMITOMO BANK 16,200,000 10/21/99
10/15/99 BANCA POPOLARE DI MILANO 30,000,000 10/18/99
10/15/99 BANK OF NEW YORK 32,000,000 10/18/99
10/15/99 CREDIT AGRICOLE 6,000,000 10/18/99
10/15/99 SUMMIT BANK 20,000,000 10/28/99
10/18/99 BANCA POPOLARE DI MILANO 30,000,000 10/19/99
10/18/99 BANK OF NEW YORK 19,200,000 10/19/99
10/18/99 CREDIT AGRICOLE 20,000,000 10/25/99
10/18/99 SUMITOMO BANK 18,800,000 10/25/99
10/19/99 BANCA POPOLARE DI MILANO 30,000,000 10/20/99
10/19/99 BANK OF NEW YORK 19,200,000 10/20/99
10/19/99 CHASE MANHATTAN BANK 26,600,000 10/26/99
10/20/99 BANCA POPOLARE DI MILANO 17,200,000 10/21/99
10/20/99 BANK OF NEW YORK 32,000,000 10/21/99
10/20/99 CHASE MANHATTAN BANK 23,400,000 10/21/99
10/21/99 BANCA POPOLARE DI MILANO 30,000,000 10/22/99
10/21/99 BANK OF NEW YORK 5,200,000 10/26/99
10/21/99 ALLFIRST BANK 14,000,000 10/26/99
10/21/99 CHASE MANHATTAN BANK 23,400,000 10/22/99
10/21/99 SUMITOMO BANK 16,200,000 10/22/99
10/22/99 BANK OF NEW YORK 26,800,000 10/25/99
10/22/99 CHASE MANHATTAN BANK 23,400,000 10/25/99
10/22/99 SUMITOMO BANK 16,200,000 10/25/99
10/25/99 BANCA POPOLARE DI MILANO 30,000,000 10/26/99
-7-
<PAGE>
GPU cont'd
- --- ------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
10/25/99 BANK OF NEW YORK 17,900,000 10/26/99
10/25/99 CHASE MANHATTAN BANK 23,400,000 10/26/99
10/25/99 SUMITOMO BANK 35,000,000 10/26/99
10/26/99 BANCA POPOLARE DI MILANO 30,000,000 10/27/99
10/26/99 BANK OF NEW YORK 18,200,000 10/27/99
10/26/99 CHASE MANHATTAN BANK 50,000,000 10/27/99
10/26/99 CREDIT AGRICOLE 20,000,000 10/27/99
10/26/99 SUMITOMO BANK 35,000,000 10/27/99
10/27/99 CHASE MANHATTAN BANK 19,200,000 10/28/99
10/27/99 SUMITOMO BANK 35,000,000 10/28/99
10/28/99 CHASE MANHATTAN BANK 21,300,000 10/29/99
10/28/99 SUMITOMO BANK 35,000,000 11/01/99
10/28/99 SUMMIT BANK 20,000,000 11/04/99
10/29/99 CHASE MANHATTAN BANK 19,200,000 11/01/99
11/01/99 CHASE MANHATTAN BANK 19,300,000 11/02/99
11/01/99 SUMITOMO BANK 35,000,000 11/15/99
11/02/99 CHASE MANHATTAN BANK 20,000,000 11/09/99
11/02/99 CHASE MANHATTAN BANK 19,300,000 11/03/99
11/03/99 CHASE MANHATTAN BANK 19,200,000 11/04/99
11/04/99 BANCA POPOLARE DI MILANO 15,300,000 11/05/99
11/04/99 SUMMIT BANK 20,000,000 11/05/99
11/05/99 CHASE MANHATTAN BANK 15,300,000 11/08/99
11/05/99 SUMMIT BANK 20,000,000 11/17/99
11/08/99 CHASE MANHATTAN BANK 11,300,000 11/09/99
11/09/99 CHASE MANHATTAN BANK 31,300,000 11/10/99
11/10/99 CHASE MANHATTAN BANK 31,300,000 11/12/99
11/12/99 CHASE MANHATTAN BANK 7,800,000 11/16/99
11/12/99 CHASE MANHATTAN BANK 20,000,000 11/16/99
11/15/99 SUMITOMO BANK 30,000,000 11/16/99
11/16/99 ALLFIRST BANK 7,900,000 11/19/99
11/16/99 CHASE MANHATTAN BANK 20,000,000 11/19/99
11/16/99 SUMITOMO BANK 35,000,000 11/19/99
11/17/99 SUMMIT BANK 20,000,000 11/18/99
11/18/99 SUMMIT BANK 20,000,000 11/19/99
11/19/99 BANCA POPOLARE DI MILANO 29,000,000 11/22/99
11/19/99 CHASE MANHATTAN BANK 50,000,000 11/22/99
11/19/99 CHASE MANHATTAN BANK 20,000,000 11/22/99
11/19/99 SUMITOMO BANK 35,000,000 11/22/99
11/19/99 SUMMIT BANK 20,000,000 11/22/99
11/22/99 BANCA POPOLARE DI MILANO 15,000,000 11/23/99
11/22/99 ALLFIRST BANK 15,000,000 11/29/99
11/22/99 CHASE MANHATTAN BANK 50,000,000 11/23/99
11/22/99 CHASE MANHATTAN BANK 20,000,000 11/23/99
11/22/99 SUMITOMO BANK 35,000,000 11/29/99
11/22/99 SUMMIT BANK 20,000,000 11/23/99
11/23/99 BANK OF NEW YORK 13,400,000 11/24/99
11/23/99 CHASE MANHATTAN BANK 50,000,000 11/29/99
-8-
<PAGE>
GPU cont'd
- --- ------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
11/23/99 CHASE MANHATTAN BANK 20,000,000 11/30/99
11/23/99 SUMMIT BANK 20,000,000 11/30/99
11/24/99 BANCA POPOLARE DI MILANO 30,000,000 11/29/99
11/24/99 BANK OF NEW YORK 32,000,000 11/29/99
11/24/99 CREDIT AGRICOLE 18,700,000 11/29/99
11/29/99 BANCA POPOLARE DI MILANO 30,000,000 11/30/99
11/29/99 BANK OF NEW YORK 32,000,000 11/30/99
11/29/99 ALLFIRST BANK 15,000,000 12/03/99
11/29/99 CHASE MANHATTAN BANK 10,000,000 11/30/99
11/29/99 CREDIT AGRICOLE 20,000,000 11/30/99
11/29/99 FIRST UNION 26,000,000 11/30/99
11/29/99 PNC BANK 20,000,000 11/30/99
11/29/99 SUMITOMO BANK 35,000,000 12/03/99
11/30/99 CHASE MANHATTAN BANK 5,000,000 12/03/99
11/30/99 CHASE MANHATTAN BANK 4,400,000 12/01/99
11/30/99 SUMMIT BANK 20,000,000 12/03/99
12/01/99 CHASE MANHATTAN BANK 4,600,000 12/03/99
12/02/99 CHASE MANHATTAN BANK 2,500,000 12/03/99
12/03/99 CHASE MANHATTAN BANK 44,000,000 12/06/99
12/03/99 CHASE MANHATTAN BANK 20,000,000 12/23/99
12/03/99 SUMMIT BANK 20,000,000 01/03/00
12/06/99 CHASE MANHATTAN BANK 46,100,000 12/07/99
12/07/99 CHASE MANHATTAN BANK 15,200,000 12/14/99
12/07/99 SUMITOMO BANK 35,000,000 12/08/99
12/08/99 BANK OF NEW YORK 8,000,000 12/09/99
12/08/99 SUMITOMO BANK 35,000,000 12/09/99
12/09/99 CHASE MANHATTAN BANK 44,200,000 12/10/99
12/10/99 CHASE MANHATTAN BANK 46,000,000 12/13/99
12/13/99 CHASE MANHATTAN BANK 14,100,000 12/14/99
12/13/99 SUMITOMO BANK 35,000,000 12/14/99
12/14/99 CHASE MANHATTAN BANK 30,600,000 12/17/99
12/14/99 SUMITOMO BANK 35,000,000 12/15/99
12/15/99 BANCA POPOLARE DI MILANO 6,000,000 12/16/99
12/15/99 SUMITOMO BANK 35,000,000 12/16/99
12/16/99 BANCA POPOLARE DI MILANO 8,900,000 12/17/99
12/16/99 SUMITOMO BANK 35,000,000 12/23/99
12/17/99 BANCA POPOLARE DI MILANO 30,000,000 12/20/99
12/17/99 BANK OF NEW YORK 10,600,000 12/20/99
12/20/99 BANCA POPOLARE DI MILANO 24,600,000 12/21/99
12/20/99 ALLFIRST BANK 15,000,000 01/06/00
12/20/99 MERCHANTS BANK OF BANGOR 1,000,000 01/06/00
12/21/99 CHASE MANHATTAN BANK 26,100,000 12/22/99
12/22/99 BANK OF NEW YORK 27,500,000 01/12/00
12/23/99 BANCA POPOLARE DI MILANO 30,000,000 01/28/00
12/23/99 CHASE MANHATTAN BANK 20,000,000 01/10/00
12/23/99 FIRST UNION 9,000,000 01/07/00
12/23/99 MERCHANTS BANK OF BANGOR 1,000,000 01/13/00
-9-
<PAGE>
Penelec
- -------
Issue
Date Bank Amount Maturity
- ---- ---- ------ --------
11/18/99 MELLON BANK - PENELEC $ 5,700,000 11/19/99
11/19/99 MELLON BANK - PENELEC 5,500,000 11/22/99
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 October 1, 1999 through December 31, 1999, the
Companies repaid unsecured promissory notes issued to banks, as follows:
GPU
- ---
Date Bank Amount
- ---- ---- ------
10/04/99 BANCA POPOLARE DI MILANO $ 20,000,000
10/05/99 ALLFIRST BANK 15,000,000
10/05/99 CITIBANK - NY 8,700,000
10/06/99 BANCA POPOLARE DI MILANO 9,100,000
10/06/99 BANCA POPOLARE DI MILANO 10,000,000
10/06/99 CHASE MANHATTAN BANK 16,800,000
10/07/99 BANCA POPOLARE DI MILANO 30,000,000
10/07/99 CHASE MANHATTAN BANK 17,200,000
10/07/99 PNC BANK 17,300,000
10/07/99 SUMMIT BANK 20,000,000
10/08/99 BANK OF NEW YORK 32,000,000
10/08/99 CHASE MANHATTAN BANK 26,600,000
10/08/99 CREDIT AGRICOLE 20,000,000
10/12/99 BANCA POPOLARE DI MILANO 22,700,000
10/12/99 CHASE MANHATTAN BANK 26,600,000
10/12/99 CHASE MANHATTAN BANK 20,000,000
10/13/99 BANCA POPOLARE DI MILANO 23,400,000
10/13/99 CHASE MANHATTAN BANK 16,000,000
10/13/99 CHASE MANHATTAN BANK 7,400,000
10/13/99 CREDIT AGRICOLE 20,000,000
10/14/99 BANCA POPOLARE DI MILANO 6,600,000
10/14/99 BANCA POPOLARE DI MILANO 14,600,000
10/14/99 BANK OF NEW YORK 32,000,000
10/14/99 SUMITOMO BANK 16,200,000
10/15/99 BANCA POPOLARE DI MILANO 8,800,000
10/15/99 BANK OF NEW YORK 32,000,000
-10-
<PAGE>
GPU cont'd
- --- ------
Date Bank Amount
- ---- ---- ------
10/15/99 ALLFIRST BANK 11,000,000
10/15/99 SUMMIT BANK 20,000,000
10/18/99 BANCA POPOLARE DI MILANO 30,000,000
10/18/99 BANK OF NEW YORK 32,000,000
10/18/99 CREDIT AGRICOLE 6,000,000
10/18/99 SUMITOMO BANK 18,800,000
10/19/99 BANCA POPOLARE DI MILANO 30,000,000
10/19/99 BANK OF NEW YORK 19,200,000
10/19/99 CHASE MANHATTAN BANK 26,600,000
10/20/99 BANCA POPOLARE DI MILANO 30,000,000
10/20/99 BANK OF NEW YORK 19,200,000
10/20/99 CHASE MANHATTAN BANK 23,400,000
10/21/99 BANCA POPOLARE DI MILANO 17,200,000
10/21/99 BANK OF NEW YORK 32,000,000
10/21/99 CHASE MANHATTAN BANK 23,400,000
10/21/99 SUMITOMO BANK 16,200,000
10/22/99 BANCA POPOLARE DI MILANO 30,000,000
10/22/99 CHASE MANHATTAN BANK 23,400,000
10/22/99 SUMITOMO BANK 16,200,000
10/25/99 BANK OF NEW YORK 26,800,000
10/25/99 CHASE MANHATTAN BANK 23,400,000
10/25/99 CREDIT AGRICOLE 20,000,000
10/25/99 SUMITOMO BANK 16,200,000
10/25/99 SUMITOMO BANK 18,800,000
10/26/99 BANCA POPOLARE DI MILANO 30,000,000
10/26/99 BANK OF NEW YORK 17,900,000
10/26/99 BANK OF NEW YORK 5,200,000
10/26/99 ALLFIRST BANK 1,000,000
10/26/99 ALLFIRST BANK 14,000,000
10/26/99 CHASE MANHATTAN BANK 26,600,000
10/26/99 CHASE MANHATTAN BANK 23,400,000
10/26/99 SUMITOMO BANK 35,000,000
10/27/99 BANCA POPOLARE DI MILANO 30,000,000
10/27/99 BANK OF NEW YORK 18,200,000
10/27/99 CHASE MANHATTAN BANK 50,000,000
10/27/99 CREDIT AGRICOLE 20,000,000
10/27/99 SUMITOMO BANK 35,000,000
10/28/99 CHASE MANHATTAN BANK 19,200,000
10/28/99 SUMITOMO BANK 35,000,000
10/28/99 SUMMIT BANK 20,000,000
10/29/99 CHASE MANHATTAN BANK 21,300,000
11/01/99 CHASE MANHATTAN BANK 19,200,000
11/01/99 SUMITOMO BANK 35,000,000
11/02/99 CHASE MANHATTAN BANK 20,000,000
11/02/99 CHASE MANHATTAN BANK 19,300,000
11/03/99 CHASE MANHATTAN BANK 19,300,000
11/04/99 CHASE MANHATTAN BANK 19,200,000
11/04/99 MERCHANTS BANK OF BANGOR 1,000,000
-11-
<PAGE>
GPU cont'd
- --- ------
Date Bank Amount
- ---- ---- ------
11/04/99 SUMMIT BANK 20,000,000
11/05/99 BANCA POPOLARE DI MILANO 15,300,000
11/05/99 SUMMIT BANK 20,000,000
11/08/99 CHASE MANHATTAN BANK 15,300,000
11/09/99 CHASE MANHATTAN BANK 11,300,000
11/09/99 CHASE MANHATTAN BANK 20,000,000
11/10/99 CHASE MANHATTAN BANK 31,300,000
11/12/99 CHASE MANHATTAN BANK 31,300,000
11/15/99 SUMITOMO BANK 35,000,000
11/16/99 CHASE MANHATTAN BANK 7,800,000
11/16/99 CHASE MANHATTAN BANK 20,000,000
11/16/99 SUMITOMO BANK 30,000,000
11/17/99 SUMMIT BANK 20,000,000
11/18/99 SUMMIT BANK 20,000,000
11/19/99 ALLFIRST BANK 7,900,000
11/19/99 CHASE MANHATTAN BANK 20,000,000
11/19/99 SUMITOMO BANK 35,000,000
11/19/99 SUMMIT BANK 20,000,000
11/22/99 BANCA POPOLARE DI MILANO 29,000,000
11/22/99 CHASE MANHATTAN BANK 50,000,000
11/22/99 CHASE MANHATTAN BANK 20,000,000
11/22/99 SUMITOMO BANK 35,000,000
11/22/99 SUMMIT BANK 20,000,000
11/23/99 BANCA POPOLARE DI MILANO 15,000,000
11/23/99 CHASE MANHATTAN BANK 50,000,000
11/23/99 CHASE MANHATTAN BANK 20,000,000
11/23/99 SUMMIT BANK 20,000,000
11/24/99 BANK OF NEW YORK 13,400,000
11/29/99 BANCA POPOLARE DI MILANO 30,000,000
11/29/99 BANK OF NEW YORK 32,000,000
11/29/99 ALLFIRST BANK 15,000,000
11/29/99 CHASE MANHATTAN BANK 50,000,000
11/29/99 CREDIT AGRICOLE 18,700,000
11/29/99 SUMITOMO BANK 35,000,000
11/30/99 BANCA POPOLARE DI MILANO 30,000,000
11/30/99 BANK OF NEW YORK 32,000,000
11/30/99 CHASE MANHATTAN BANK 10,000,000
11/30/99 CHASE MANHATTAN BANK 20,000,000
11/30/99 CREDIT AGRICOLE 20,000,000
11/30/99 FIRST UNION 26,000,000
11/30/99 PNC BANK 20,000,000
11/30/99 SUMMIT BANK 20,000,000
12/01/99 CHASE MANHATTAN BANK 4,400,000
12/03/99 ALLFIRST BANK 15,000,000
12/03/99 CHASE MANHATTAN BANK 4,600,000
12/03/99 CHASE MANHATTAN BANK 2,500,000
12/03/99 CHASE MANHATTAN BANK 5,000,000
12/03/99 SUMITOMO BANK 35,000,000
-12-
<PAGE>
GPU cont'd
- --- ------
Date Bank Amount
- ---- ---- ------
12/03/99 SUMMIT BANK 20,000,000
12/06/99 CHASE MANHATTAN BANK 44,000,000
12/07/99 CHASE MANHATTAN BANK 46,100,000
12/08/99 SUMITOMO BANK 35,000,000
12/09/99 BANK OF NEW YORK 8,000,000
12/09/99 SUMITOMO BANK 35,000,000
12/10/99 CHASE MANHATTAN BANK 44,200,000
12/13/99 CHASE MANHATTAN BANK 46,000,000
12/14/99 CHASE MANHATTAN BANK 14,100,000
12/14/99 CHASE MANHATTAN BANK 15,200,000
12/14/99 SUMITOMO BANK 35,000,000
12/15/99 SUMITOMO BANK 35,000,000
12/16/99 BANCA POPOLARE DI MILANO 6,000,000
12/16/99 SUMITOMO BANK 35,000,000
12/17/99 BANCA POPOLARE DI MILANO 8,900,000
12/17/99 CHASE MANHATTAN BANK 30,600,000
12/20/99 BANCA POPOLARE DI MILANO 30,000,000
12/20/99 BANK OF NEW YORK 10,600,000
12/21/99 BANCA POPOLARE DI MILANO 24,600,000
12/22/99 CHASE MANHATTAN BANK 26,100,000
12/23/99 CHASE MANHATTAN BANK 20,000,000
12/23/99 SUMITOMO BANK 35,000,000
Penelec
Date Bank Amount
- ---- ---- ------
11/19/99 MELLON BANK - PENELEC $ 5,700,000
11/22/99 MELLON BANK - PENELEC 5,500,000
To summarize the above transactions, at December 31, 1999 the GPU
Companies had outstanding unsecured promissory notes pursuant to informal bank
lines of credit as follows:
GPU $ 123,500,000
JCP&L 0
Met-Ed 0
Penelec 0
-13-
<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: January 7, 2000
