Code of Conduct

Perot Systems has adopted Standards & Ethical Principles to define the broad ethical principles and standards of conduct that govern how we conduct our business. Our Standards & Ethical Principles apply to all directors, officers, and employees (collectively, "Associates") of Perot Systems Corporation and each of its subsidiaries, including Perot Systems' Chief Executive Officer, Chief Financial Officer, principal accounting officer, controller, and other leaders. The Standards & Ethical Principles are available to all Associates on our internal and external corporate Web sites, and all Associates are asked to acknowledge this code of conduct every year.

Waivers Granted to Directors and Executive Officers
Each waiver of Perot Systems' Standards & Ethical Principles granted during the past 12 months to an Associate who was a Director or Executive Officer of Perot Systems Corporation on the date the waiver was granted is described below.

None.

Changes to Standards & Ethical Principles
Each change to Perot Systems' Standards & Ethical Principles during the past 12 months is listed below.