EVENDALE, Ohio - UNC Incorporated today announced that it has accepted $125,000,000 (one hundred twenty-five million dollars) aggregate principal amount at maturity of its 11 percent Senior Subordinated Notes due June 1, 2006 (the "11 percent Notes") pursuant to a tender offer which expired at 5:00 p.m., New York time, on September 29, 1997. The price paid for the 11 percent Notes was the price resulting from a yield to the earliest call date of June 1, 2001 equal to a fixed spread of ten basis points over the yield to maturity of the 6.50 percent U.S. Treasury Note due May 31, 2001, at the time the holder agreed to tender its 11 percent Notes.

After giving effect to the tender offer, none of the 11 percent Notes remain outstanding.

General Electric Company completed its acquisition of Miami-based Greenwich Air Services, Inc. on September 2, 1997. UNC Incorporated was acquired by Greenwich Air Services, Inc. on September 17, 1997. UNC Incorporated is a leading supplier of products and services to the aviation industry. These operations include the overhaul and repair of aircraft engines and accessories, and the repair and remanufacturing of engine components.