PHOTO:FPO

Message from David N. Farr, Chairman and Chief Executive Officer

Emerson is committed to earning the trust and confidence of our stockholders, employees, business partners, customers and suppliers. Our company is managed in accordance with Corporate Governance Principles and Practices that ensure our businesses and our employees operate within New York Stock Exchange requirements and applicable legal statutes in the countries in which we manufacture and market our products and services.

We are also committed to the highest standards in business and personal conduct by our directors, officers and employees. Our guidelines are set forth in the Emerson Business Ethics Program. This ethics code applies to our directors, officers and employees around the world. In addition, our CEO and Senior Financial Officer Code of Ethics states the role and responsibilities of our top officers in promoting integrity throughout the company and in providing accurate and timely reporting of Emerson's financial results and condition.