Thomas Edison built the first electric locomotive in 1880 and since then GE - Transportation has faithfully served the transportation industry. Over a century later, one achievement in particular makes me proud of this business.

We are a company of unyielding integrity and our worldwide reputation for honest and reliable business conduct, built by so many people, is tested and proved in everything we do.

Transportation continues to develop new and technologically innovative products that will allow us to grow in markets that we presently serve and enter new, emerging markets where we wish to have a presence. Now, more than ever, we rely on our commitment to lawful and ethical conduct in doing business around the globe.

Each person in the Transportation community makes a personal commitment to follow our Code of Conduct. "The Spirit & Letter" is our integrity policy, and each GE employee, regardless of business or industry, signs a pledge to adhere to it when they join the company.

Along with every GE leaders, it is my responsibility to encourage and enforce every employee's compliance with our internal policies and applicable laws. Integrity is the cornerstone of our success and at the center of our business practices. I

t is my pledge that Transportation will continue to conduct itself with the very highest level of integrity, and I am proud of every employee who comes to work every day with a commitment towards that goal.

Sincerely,

John Dineen

President and CEO