  The low energy effective theory of the N=1 supersymmetric SU(5) gauge theory
with chiral superfields in the 5* and 10 representations is constructed.
Instead of postulating the confinement of SU(5) (confining picture), only the
confinement of its subgroup SU(4) is postulated (Higgs picture), and the
effective fields are SU(4)-singlet but SU(5)-variant. The classical scalar
potential which ensures unique supersymmetric vacuum at the classical level is
incorporated into the Kaehler potential of the effective fields. We show that
supersymmetry and all other global symmetry are spontaneously broken. The
scales of these symmetry breaking and the particle spectrum including
Nambu-Goldstone particles are explicitly calculated, and no large scale
hierarchy is found.
