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Re:  GECPF-1 Series I Tax-Exempt
     CUSIP 36158L-AF4
     Distribution Date 6/15/96


     (a)  the Certificateholder's pro rata share of the Current Interest Amount
and the Current Principal Amount to be distributed on such Distribution Date:
Interest  - $ 4,935.02
Principal - $50,514.29

     (b)  the amount of the Certificateholder's distribution allocable to
principal per $1,000 face amount; $3.823943

     (c)  the amount of the Certificateholder's distribution allocable to
interest per $1,000 face amount;  $0.373582

     (d)  the Certificateholder's Certificate Principal Balance, net of the
amount to be distributed on the next Distribution Date allocable to principal,
as of the immediately preceding Record Date;  $1,236,408.47

     (e)  the Aggregate Certificate Principal Balance, net of the amount to be
distributed on the next Distribution Date allocable to principal, as of the
immediately preceding Record Date;  $1,236,852.27

     (f)  the Pool Factor, net of the amount to be distributed on the next
Distribution Date allocable to principal, as of the immediately preceding Record
Date;  0.0935964

     (g)  the Accrual Factor, net of the amount to be distributed on the next
Distribution Date allocable to principal, as of the immediately preceding Record
Date is;  0.0016216

     (h)  the aggregate amount of Outstanding Advances as of the immediately
preceding Record Date is:  $1,130.16; and the change in such amount from the
previous month is: ($0.00)

     (i)  the Certificateholder's pro rata share of an Indemnity Amount to be
distributed on the next Distribution Date:  $0.00

     (j)  the aggregate amount of servicing Fees received by the Servicer during
the immediately preceding Collection Period is:  $440.19



[LOGO]


Re:  GECPF-1 Series I Tax-Exempt
     CUSIP 36158L-AF4
     Distribution Date 6/15/96


     (a)  the Certificateholder's pro rata share of the Current Interest Amount
and the Current Principal Amount to be distributed on such Distribution Date:
Interest  - $ 1.77
Principal - $18.13

     (b)  the amount of the Certificateholder's distribution allocable to
principal per $1,000 face amount; $3.823943

     (c)  the amount of the Certificateholder's distribution allocable to
interest per $1,000 face amount;  $0.373582

     (d)  the Certificateholder's Certificate Principal Balance, net of the
amount to be distributed on the next Distribution Date allocable to principal,
as of the immediately preceding Record Date;  $443.80


     (e)  the Aggregate Certificate Principal Balance, net of the amount to be
distributed on the next Distribution Date allocable to principal, as of the
immediately preceding Record Date;  $1,236,852.27

     (f)  the Pool Factor, net of the amount to be distributed on the next
Distribution Date allocable to principal, as of the immediately preceding Record
Date;  0.0935964

     (g)  the Accrual Factor, net of the amount to be distributed on the next
Distribution Date allocable to principal, as of the immediately preceding Record
Date is;  0.0016216

     (h)  the aggregate amount of Outstanding Advances as of the immediately
preceding Record Date is:  $1,130.16; and the change in such amount from the
previous month is: ($0.00)

     (i)  the Certificateholder's pro rata share of an Indemnity Amount to be
distributed on the next Distribution Date:  $0.00

     (j)  the aggregate amount of servicing Fees received by the Servicer during
the immediately preceding Collection Period is:  $440.19