At the time of the creation of EADS, the Code of Ethics was established and communicated to the employees of the Group. This Code of Ethics aimed at emphasizing values that were key success factors for achieving an efficient integration of different companies into one group. In 2005, more than four years after the creation of EADS, in light of its establishment as a market leader in many of its businesses, and considering the evolving legal environment relating to business ethics, EADS updated the Code of Ethics in order to reflect practices recommended by various codes and laws and to align with best practice.

The enhanced EADS Code of Ethics sets out in one single, comprehensive document the EADS Group business guidelines related to the ethical standards that the Group adheres to.

The Code of Ethics serves as a core EADS business guideline in an architecture of documents in which the code also refers to pre-existing, detailed policies as laid out in the EADS Corporate Handbook as well as division or BU specific policies and processes. It is based on EADS’ underlying values and fully in line with international recognised standards as laid out in charters, declarations or guidelines, such as the Universal declaration of Human Rights.

The Code of Ethics covers the full scope of EADS’ CSR policies, addressing in the five chapters the principal lines of ethical behaviour:

• “Creating a positive working climate” describes EADS’ principles in terms of, e.g. dialogue and representation, equal opportunities policy, and management of HR development;
• “Doing business ethically” discusses issues such as conflicts of interest, export control and contracting with governments, as well as the hiring of government officials;
• “Fostering sustainable growth” deals with proper use of information and intellectual property rights, as well as relationships with suppliers;
• “Respecting the environment” covers developing environmentally sound processes and products;
• “Living in our communities” describes the ways in which EADS contributes to the life and development of communities where it operates.

The Code of Ethics, therefore, gives guidance to all employees about appropriate conduct in their professional environment.

These principles will be monitored, in particular through entrusting an EADS Ethics Committee with compliance responsibility in ethics matters.

The Code of Ethics describes the missions of the Ethics Committee set up by the EADS Board of Directors. In particular, the Ethics Committee will offer guidance to the EADS Chairmen, the Board of Directors and its Committees, the CEOs, COOs and Executive Committee, as well as management at large regarding all ethical questions. The Committee will submit at least annually a report to the EADS Board of Directors with respect to each year’s activities. It will also implement appropriate coordination with the compliance functions of EADS and its divisions.

In 2006, all employees will be sensitised through a systematic information campaign, aimed at raising the awareness of the importance of ethical business conduct and emphasizing underlying values. The text of the enhanced EADS Code of Ethics is available on the Internet at www.eads.com.