GE, Dow Jones announce winner of ECOnomics Challenge award

Robert R. Wright of Marble Hill, GA, earned the Environmental Business Plan Challenge Award for HASE technology for potable water production and the accompanying $50,000 for the plan that best combines environmental innovation and profitability. One of three partners in Watervap LLC, Wright, 69, is a professional engineer with over 40 years experience related to water and wastewater treatment. He's held executive or management positions at several major U.S consulting engineer firms...

NEW YORK, May 9, 2006 -- GE and Dow Jones & Co. today announced the winner of ECOnomics: The Environmental Business Plan Challenge that provides a $50,000 award for the business plan that best combines environmental innovation and profitability. Robert R. Wright of Marble Hill, GA, earned the Environmental Business Plan Challenge Award for HASE technology that he believes will help solve the most universal human need: potable water.

The award was presented this morning to Wright by David L. Calhoun, vice chairman of GE and president & chief executive officer, GE Infrastructure and Richard F. Zannino, chief executive officer of Dow Jones & Company at a breakfast ceremony held at the Dow Jones headquarters in New York.

"General Electric and The Wall Street Journal have been looking for great business ideas that combine environmental innovation and profitability, because we truly believe that 'green' business represents good business," Mr. Calhoun said.

"As one of the world's most respected brands in business journalism, Dow Jones is always looking at unique and innovative businesses," Mr. Zannino noted. "It is with great pride we recognize Wright for his foresight and ingenuity with an award from us and GE, one of the world's most diversified companies that solves some of the world's toughest problems."

The joint campaign between GE and Dow Jones expands upon GE's corporate-wide "ecomagination" initiative, launched in 2005, to aggressively bring to market new technologies that will help customers meet pressing environmental challenges. GE expects to double its investment in R&D, investing $1.5 billion annually in research in cleaner technologies by 2010, up from $700 million in 2004.

Wright, 69, is a registered professional engineer and a diplomat member of the American Academy of Environmental Engineers. He has more than 40 years of experience related to the fields of water and wastewater treatment. Wright also has held executive or management level positions in several major U.S. consulting engineering firms and is the author of more than 20 technical publications. Currently he is one of three partners in Watervap LLC.

"For nearly fifty years I have been interested and involved in protecting the environment," Wright noted. "I am concerned about the many world wide environmental problems such as rapidly depleting water supplies and industrial pollution." His continuing interest and dedication to help solve these problems inspired him to develop a new technology and business devoted to serving mankind and protecting the environment.

The winning business plan clearly demonstrated the following: 1) an innovative business idea that benefits the environment, 2) a clear path to profitability and 3) a persuasive and logical presentation. Each candidate submitted an original idea for a new profitable business plan that has a positive impact on the environment.

For more information about the winner and finalist, please go to www.ge.com/economics.

For additional information about Wright's business plan, please go to: www.H2Ovap.com.

GE (www.ge.com) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.

Dow Jones & Company (www.dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, Dow Jones Indexes, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.

Also see: "Two GE Gas Turbines To Provide Power For Refinery Expansion In China"

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