Market Overview

Baker Hughes Stockholders Approve Combination with GE Oil & Gas


Baker Hughes Incorporated (NYSE:BHI) today announced that more than 99%
of the votes cast at the special meeting of Baker Hughes stockowners
were voted to approve the previously announced combination of Baker
Hughes with General Electric Company's oil and gas business ("GE Oil &
Gas"). The combination will create Baker Hughes, a GE company, which
will be traded on the New York Stock Exchange (NYSE) under the ticker
symbol "BHGE".

Shares voted at the meeting represent approximately 86% of Baker Hughes'
shares outstanding as of the record date for the meeting. The final vote
results will be filed on a Form 8-K with the Securities and Exchange

Martin Craighead, chairman and chief executive officer of Baker Hughes
said, "Today's results are an important milestone in our efforts to
build the leading oil and gas fullstream company, uniquely positioned to
achieve the productivity gains the industry needs. This compelling
combination brings together best-in-class oilfield technology and
services, manufacturing capabilities and digital offerings for the
benefit of all customers and stakeholders. As we approach the close, I
want to thank all of the Baker Hughes employees for their commitment and
hard work throughout the integration planning process as well as the
talented team at GE Oil & Gas. I am more confident than ever in the
promise of the new company and the benefits it will bring."

Baker Hughes and GE expect to close the transaction to combine Baker
Hughes and GE Oil & Gas on Monday, July 3, 2017, subject to the
satisfaction or waiver of customary closing conditions. Baker Hughes and
GE also expect that shares of common stock of Baker Hughes Incorporated
(NYSE:BHI) will continue to trade on the NYSE until the close of the
NYSE on July 3, 2017, at which point Baker Hughes will be delisted from
the NYSE. The parties also expect that shares of Class A common stock of
Baker Hughes, a GE company, will begin trading under the ticker symbol
"BHGE" on the opening of the NYSE on July 5, 2017.

Lorenzo Simonelli, president and chief executive officer of GE Oil & Gas
said, "I want to congratulate Baker Hughes on this approval and thank
Martin and the Baker Hughes team for their exceptional partnership. In
just eight months, our teams have worked around the clock to create a
new company that will deliver a differentiated offering for our
customers, incredible opportunities for our combined employees and value
creation for shareholders."

Stockholders of Baker Hughes immediately prior to the closing of the
transaction will receive one share of Class A common stock of Baker
Hughes, a GE company and will also be entitled to a special one-time
cash dividend of $17.50 per share (to be paid on July 6,
2017). Following the closing of the transaction and during the NYSE
trading day on July 3, 2017, Baker Hughes will be quoted on the NYSE
with the value of the special one-time cash dividend of $17.50 per
share. As a result, a person who purchases one share of common stock of
Baker Hughes after the closing of the transaction on July 3, 2017 would
be purchasing the right to receive one share of Class A common stock of
Baker Hughes, a GE company and the right to receive the special one-time
cash dividend of $17.50. Conversely, a person who sells one share of
common stock of Baker Hughes on or prior to July 3, 2017 would be
selling such rights and would not receive the special one-time cash
dividend of $17.50 with respect to such share.

About Baker Hughes

Baker Hughes is a leading supplier of oilfield services, products,
technology and systems to the worldwide oil and natural gas industry.
The company's 32,000 employees today work in more than 80 countries
helping customers find, evaluate, drill, produce, transport and process
hydrocarbon resources. For more information about Baker Hughes, visit:

Additional Information and Where to Find It

In connection with the proposed transaction between GE and Baker Hughes,
the new NYSE listed corporation (Bear Newco, Inc. or "Newco") has filed
with the SEC a registration statement on Form S-4, including Amendments
No. 1 and 2 thereto. The registration statement was declared effective
by the SEC on May 30, 2017. Newco and Baker Hughes have also filed with
the SEC a definitive combined proxy statement/prospectus (the "Combined
Proxy Statement/Prospectus") and Baker Hughes has mailed the Combined
Proxy Statement/Prospectus to its stockholders and has filed other
documents regarding the proposed transaction with the SEC. This
communication is not a substitute for any proxy statement, registration
statement, proxy statement/prospectus or other documents Baker Hughes
and/or Newco may file with the SEC in connection with the proposed
CONTAIN IMPORTANT INFORMATION. Investors and security holders are able
to obtain free copies of the Combined Proxy Statement/Prospectus and
other documents filed with the SEC by Baker Hughes and/or Newco through
the website maintained by the SEC at
Investors and security holders will also be able to obtain free copies
of the documents filed by Newco and/or Baker Hughes with the SEC on
Baker Hughes' website at
or by contacting Baker Hughes Investor Relations at
or by calling +1-713-439-8822.

No Offer or Solicitation

This communication is for informational purposes only and not intended
to and does not constitute an offer to subscribe for, buy or sell, the
solicitation of an offer to subscribe for, buy or sell or an invitation
to subscribe for, buy or sell any securities or the solicitation of any
vote or approval in any jurisdiction pursuant to or in connection with
the proposed transaction or otherwise, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in contravention
of applicable law. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, and otherwise in accordance with applicable law.

Caution Concerning Forward-Looking Statements

This communication contains "forward-looking" statements as that term is
defined in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995, including statements
regarding the proposed transaction between GE and Baker Hughes. All
statements, other than historical facts, including statements regarding
the expected timing and structure of the proposed transaction; the
ability of the parties to complete the proposed transaction considering
the various closing conditions; the expected benefits of the proposed
transaction such as improved operations, enhanced revenues and cash
flow, synergies, growth potential, market profile, customers' business
plans and financial strength; the competitive ability and position of
the combined company following completion of the proposed transaction,
including the projected impact on GE's earnings per share; oil and
natural gas market conditions; costs and availability of resources;
legal, economic and regulatory conditions; and any assumptions
underlying any of the foregoing, are forward-looking statements.
Forward-looking statements concern future circumstances and results and
other statements that are not historical facts and are sometimes
identified by the words "may," "will," "should," "potential," "intend,"
"expect," "endeavor," "seek," "anticipate," "estimate," "overestimate,"
"underestimate," "believe," "could," "project," "predict," "continue,"
"target" or other similar words or expressions. Forward-looking
statements are based upon current plans, estimates and expectations that
are subject to risks, uncertainties and assumptions. Should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those indicated or anticipated by such forward-looking statements. The
inclusion of such statements should not be regarded as a representation
that such plans, estimates or expectations will be achieved. Important
factors that could cause actual results to differ materially from such
plans, estimates or expectations include, among others, (1) that one or
more closing conditions to the transaction, including certain regulatory
approvals, may not be satisfied or waived, on a timely basis or
otherwise, including that a governmental entity may prohibit, delay or
refuse to grant approval for the consummation of the proposed
transaction or may require conditions, limitations or restrictions in
connection with such approvals; (2) the risk that the proposed
transaction may not be completed in the time frame expected by GE or
Baker Hughes, or at all; (3) unexpected costs, charges or expenses
resulting from the proposed transaction; (4) uncertainty of the expected
financial performance of the combined company following completion of
the proposed transaction; (5) failure to realize the anticipated
benefits of the proposed transaction, including as a result of delay in
completing the proposed transaction or integrating the businesses of GE,
Baker Hughes and Newco; (6) the ability of the combined company to
implement its business strategy; (7) difficulties and delays in
achieving revenue and cost synergies of the combined company;
(8) inability to retain and hire key personnel; (9) the occurrence of
any event that could give rise to termination of the proposed
transaction; (10) the risk that stockholder litigation in connection
with the proposed transaction or other settlements or investigations may
affect the timing or occurrence of the contemplated merger or result in
significant costs of defense, indemnification and liability;
(11) evolving legal, regulatory and tax regimes; (12) changes in general
economic and/or industry specific conditions, including oil price
changes; (13) actions by third parties, including government agencies;
and (14) other risk factors as detailed from time to time in GE's and
Baker Hughes' reports filed with the SEC, including GE's and Baker
Hughes' annual report on Form 10-K, periodic quarterly reports on Form
10-Q, periodic current reports on Form 8-K and other documents filed
with the SEC. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this
communication. Neither GE nor Baker Hughes undertakes any obligation to
update any forward-looking statements, whether as a result of new
information or development, future events or otherwise, except as
required by law. Readers are cautioned not to place undue reliance on
any of these forward-looking statements.

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