On April 26, 2007, Baker Hughes Inc. settled charges with the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) relating to improper payments to two agents associated with its business in Kazakhstan and for failed due diligence in connection with payments made in Nigeria, Angola, Indonesia, Russia, Uzbekistan, and Kazakhstan; Baker Hughes was also penalized for violating a 2001 SEC cease and desist order requiring Baker Hughes to comply with the books and records and internal controls provisions of the FCPA.

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