GE lowers third-quarter outlook

*expects to earn approximately $20 billion in 2008; maintaining annual

dividend of $1.24 per share through 2009

* Sees Q3 earnings per share $0.43 to $0.48

* Says board approves plan to maintain $0.31 per share quarterly dividend

* Says will further reduce financial services leverage and strengthen capital

and liquidity

* Sees FY 2008 earnings per share $1.95 to $2.10

* Sees financial services earnings in third quarter to be about $2 billion

* Reuters Estimates Q3 earnings per share view $0.52

* Reuters Estimates FY 2008 earnings per share view $2.21

* Says have suspended the stock buyback to reduce ge capital leverage

* Says previous Q3 earnings per share view was $0.50 to $0.54

* Cites unprecedented weakness and volatility in the financial services markets

for revised earnings guidance

* Says reducing GE Capital'S commercial paper to 10-15% of GE Capital'S total

debt going forward

* Says previous FY earnings per share view was $2.20 to $2.30

* Says anticipates difficult conditions in financial services markets are not

likely to improve in near future

* Says reducing GE Capital dividend to GE from 40 percent to 10 percent of GE

Capital'S earnings

* Says GE Capital does not need to raise any additional long-term debt for

remainder of 2008