SELEX Communications S.p.A. THE CODE OF ETHICS

2. GENERAL PRINCIPLES2.1 Compliance with laws and regulationsSELEX operates in full observance of the laws and regulations in force in any countrywhere its activity is carried out, in accordance with the principles of the Code of Ethicsand with the procedures established by specific protocols.Moral integrity is a constant obligation on all the Recipients.The Recipients are therefore required to know and observe the laws and regulations inforce in every country where the Company operates, to the extent of their respective areasof competence. This obligation also includes attention towards and observance of theregulations on competition, both in the national and international market.All Recipients’ transactions with Public Institutions and Authorities must be marked bythe highest degree of fairness, transparency and cooperation, in full observance ofapplicable laws and regulations and of their institutional roles.2.2 Models and rules of conductAll the activities undertaken by the Recipients must be performed with professional care,moral rigour and proper management, with a view to safeguarding the image of theCompany.The conduct and relationships of all the Recipients, both internally and outside theCompany, shall demonstrate transparency, correctness and mutual respect.In such context all directors, the General Director, managers and executives must be thefirst to set a good example to all the human resources of SELEX, by complying, in theperformance of their duties, with the principles that comprise the Code of Ethics and withthe Company's procedures and other documents that regulate the corporate affairs, bycirculating them among the employees and urging these latter to submit inquiries aboutsuch Code of Ethics and procedures, or proposals for updating them where necessary.Particularly, SELEX shall request its directors and general managers to use their bestefforts actively to propose and realize any projects, investments and industrial,commercial and managerial actions that may be useful to preserve and increase theeconomic, technological and professional capacity of the Company.SELEX shall also ensure that any supporting information on company events anddecisions is made available, so as to allow the company, the external auditors and thepersonnel overseeing internal controls, as well as the surveillance authorities, to carry outthe most comprehensive and effective control activities.The use of IT and electronic tools must be in compliance with the principles of fairness,protection of secrecy in correspondence and privacy such as to guarantee the integrityand authenticity of the IT and electronic systems and of the processed data, for theprotection of the Company’s and any third party’s interests.SELEX has adopted suitable measures to ensure that electronic and computer data canonly be accessed in accordance with the applicable regulations and the privacy of anyPage 6 of 20