Making it EasiEr to invEst and ManagE Your rEtirEMEnt savings

The Westinghouse Savings Plan is a valuable component of your total benefits package. Westinghouse periodically reviews and evaluates the Savings Plan to make sure that it offers diversified investment options coupled with easy-to-use tools designed to help you reach your retirement savings goals.

Read on to learn about improvements we’re making and important features of the Savings Plan in place to help support your retirement savings.

updatE to thE fund linEup: Upcoming fund replacement p. 2–3

valuablE rEtirEMEnt planning rEsourcEs: Enhanced online tools from the ING Advisor Service p. 5

siMplEr account ManagEMEnt: Spotlight on Savings Plan Web site functionality p. 6

WEstinghousE savings plan updatE

spring 2010

for MorE inforMation about thE savings plan EnhancEMEnts or to accEss Your account, visit or call:

Plan Web site: http://westinghouse.ingplans.com

Information Line: 1-800-581-3366Participant Services Representatives are available 8:00 a.m. to 8:00 p.m. ET Monday through Friday, excluding those days on which the New York Stock Exchange is closed.

nEWslEttEr laYout ModifiEd for usE on savings plan WEb sitE.

What is an invEstMEnt ManagEMEnt fEE?

All investment funds charge investment management fees to cover the cost of running the fund, including fund manager salaries, trading expenses, fund administration and securities research efforts. The fee is paid automatically out of the fund’s return, so the fund return you see on your account statement has already been reduced by the investment management fee. A lower investment management fee means a higher rate of return for you.

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coMing MaY 12th – thE ing Mid-cap groWth EquitY fund rEplacEs thE franklin sMall-Mid cap groWth fund

Westinghouse aims to provide you with the most suitable Savings Plan investment options available. We routinely evaluate the breadth of the Plan’s investment options, and the performance of those investments, to ensure that you have a broad selection of funds with different risk and return characteristics and a proven track record.

In an effort to provide you with a more diverse fund lineup, the decision has been made to replace the Franklin Small-Mid Cap Growth Fund (“Franklin Fund”). Despite its classification as a mid cap growth fund (see chart), the Franklin Fund doesn’t truly meet all the characteristics of this category.

After reviewing alternatives based on such criteria as performance, expenses and investment objective, the ING Mid-Cap Growth Equity Fund (“ING Mid-Cap Fund”) was chosen.

The replacement of the Franklin Fund with the ING Mid-Cap Fund becomes effective after 4:00 p.m. Eastern Time on Wednesday, May 12, 2010. If you have a balance in the Franklin Fund, it will transfer automatically into the ING Mid-Cap Fund immediately after the market close at 4:00 p.m. ET on May 12, 2010. Any future contributions you currently direct into the Franklin Fund will automatically redirect into the ING Mid-Cap Fund after 4:00 p.m. ET on May 12, 2010. You do not have to take any action if you wish to invest these funds in the ING Mid-Cap Fund.

lEarn MorE about thE nEW ing Mid-cap fund

The ING Mid-Cap Fund is an actively managed investment that relies on fundamental research and analysis to identify companies with strong and accelerating business momentum, increasing market acceptance, and attractive valuations. The objective is to outperform the Russell Midcap Growth Index by 3-4% annually before management fees. The ING Mid-Cap Fund is a collective trust designed exclusively for retirement plans and their participants and is not available to individual retail investors. (For more information about collective trusts, see page 4.) Please see the enclosed fund fact sheet for more details on the new fund.

The ING Mid-Cap Fund charges an investment management fee of 64 basis points, or 0.64%. This is a reduction from the 110 basis points, or 1.10% for the fund it is replacing. Investment management fees are deducted from a fund’s total return, so a lower fee means more of a fund’s return stays in your account. If you invest $10,000 in the ING Mid-Cap Fund, you will pay an annualized fee of $64 (compared to the $110 for the Franklin Fund). While this amount does not represent a significant immediate savings, these fee reductions can add up over the long run.

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nEW fund linEup bY assEt class

EquitiEs valuE corE groWth

largE cap • Legg Mason Partners Investors Value I Fund

• SSgA S&P 500 Index Fund

• Legg Mason Partners Appreciation I Fund

• American Funds Growth Fund of America R5

• Legg Mason Partners Aggressive Growth I Fund

Mid cap • Goldman Sachs Mid Cap Value I Fund

• ING Mid-Cap Growth Equity Fund

The ING Mid-Cap Fund will replace the Franklin Small-Mid Cap Growth Fund effective after 4:00 p.m. Eastern Time on 5/12/10.

sMall cap • T. Rowe Price Small Cap Value Advisor Fund

• First American Small Cap Select Y Fund

intErnational/global

• American Funds EuroPacific Growth Fund R5

• Dreyfus Premier Worldwide Growth A Fund

fiXEd incoME • Fixed Income Fund• SSgA Bond Market Index Fund

balancEd • JPM Institutional Diversified Fund

havE a balancE in thE franklin fund?

No action is required on your part, however, if you do not want your Franklin Fund assets automatically transferred into the ING Mid-Cap Fund, you must transfer your money out of the Franklin Fund and into one or more of the other funds offered by the Savings Plan before 4:00 p.m. ET on May 12, 2010. To perform fund transfers, log on to the Savings Plan Web site at http://westinghouse.ingplans.com and from the My Account section, access Manage Investments in the left hand menu and select Fund Transfer. To change your investment elections for future contributions, select Change Elections in the same menu.

rEviEW Your invEstMEnt MiX todaY

Now is a good opportunity to take a look at your current investment mix and make sure it’s aligned with your long-term goals and risk tolerance. Diversifying your savings across many different asset classes and investment types may help you to manage risk. You can access the ING Advisor Service for assistance (see page 5 for more information).

To manage your Savings Plan account, log on to the Savings Plan Web site at http://westinghouse.ingplans.com or call the Information Line at 1-800-581-3366. Participant Services Representatives are available to help with transactions and answer questions Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern Time, except on days the New York Stock Exchange is closed.

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not saving YEt? Matching contributions boost Your oWn savings

Westinghouse helps you save by adding $0.50 for every $1.00 you contribute to your Savings Plan account, up to 6% of your eligible pay. It makes good financial sense to at least save enough to get the maximum matching contributions. Over 90% of Westinghouse Electric employees actively contribute to the Savings Plan.

To enroll in the Savings Plan, access the Savings Plan Web site at http://westinghouse.ingplans.com and follow the easy-to-use enrollment instructions. You can also call the Information Line at 1-800-581-3366 and enroll over the phone. You will need your Password issued by ING to enroll. To request a Password reminder, visit the Web site or call the Information Line to request to have it mailed to your home address.

dEfinitions

EquitiEs (or stocks) offer investors ownership in a company in the form of shares/units with the intent to provide capital appreciation.

largE cap funds generally invest in the stocks of large companies with market capitalizations of over $5 billion.

Mid cap funds generally invest in small/medium sized companies with market capitalizations of $1 billion to $5 billion.

sMall cap funds generally invest in small companies with market capitalizations of under $1 billion.

intErnational funds generally invest in non-domestic securities markets throughout the world.

global funds generally invest in U.S. securities markets and non-domestic securities markets throughout the world.

fiXEd incoME (or bonds) invest in debt securities and offer investors interest income with the potential for moderate growth.

balancEd funds invest in a mix of equities and fixed income with the potential for both income and capital appreciation.

What is a collEctivE trust?

Collective trusts are investment funds formed from the pooling of investments by institutional investors, such as retirement plans. Investors in collective trusts generally benefit from economies of scale, which allow for lower trading costs per dollar of investment, diversification and professional money management. In addition to the new ING Mid-Cap Fund, the other collective trusts in the Savings Plan are the SSgA S&P 500 Index Fund, the SSgA Bond Market Index Fund and the Fixed Income Fund.

* Advisory Services provided by ING Investment Advisors, LLC. ING Investment Advisors, LLC does not give tax or legal advice. A Disclosure Statement may be viewed online by accessing the ING Advisor Service link (access via http://westinghouse.ingplans.com) or requested from an ING Advisor by calling the Information Line at 1-800-581-3366. The forecasts are not guarantees of future results. The forecasts derive from forward looking models of the economy and securities markets that may use such data as historical returns, historical correlation, expected growth rates, and calculated risk premiums based on those and other hypothetical assumptions. The completeness of our recommendations is dependent on the completeness of the information you furnish to us. For more information about the investment advisory service provided by ING Investment Advisors, LLC, please read the Advisor Service Disclosure statement on the Savings Plan Web site before deciding to use this service.

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thE pErsonal onlinE advisor has bEEn rEdEsignEd

The Personal Online Advisor from the ING Advisor Service* was recently enhanced with a new, more user-friendly interface. The service has been completely redesigned to make it easier to:

• Get the advice you need

• Customize your savings and investment strategy

• Review your savings progress and make changes to your account elections

We encourage you to try out the enhanced site so you can see for yourself how much easier it is to get the valuable retirement savings and investment advice you need. Don’t forget that the online service allows you to add outside accounts to your experience. If you have previously added outside accounts to the service, your information is still maintained in the enhanced Personal Online Advisor.

The ING Advisor Service offers personalized, objective investment and retirement planning advice. You can use the service in two ways:

• Personal online advisor—Access step-by-step personalized advice at any time through the Savings Plan Web site at no additional cost.

• Professional account Manager—Work directly with a licensed ING Investment Advisor Representative over the telephone for a low fee based on your account balance. The fee is no more than 50 basis points per year (approximately $4.17 per month for each $10,000 of your savings). Discounts apply for balances over $50,000. This fee is deducted from your account balance monthly and listed on your quarterly statement.

dEvElop Your rEtirEMEnt stratEgY

ModEl scEnarios

rEfinE Your stratEgY

tools to hElp You ManagE Your account

Don’t forget the Savings Plan Web site offers you time-saving tools and resources to make managing your account even easier. Here is just a sampling of what you have access to online.

1 plan inforMation: You can review important information about the Savings Plan features and benefits, and access/download Plan documents, such as the new Summary Plan Description, which was updated as of January 1, 2010.

2 bEnEficiarY updatE*: You can change/elect your beneficiary online though the Personal Information section. Remember, it is important to keep your beneficiary (ies) current. You should periodically review your election to ensure it correctly reflects who should receive your account balance in the event of your death.

3 “go grEEn”: You can elect to turn off receiving paper statements and confirmations from the Savings Plan. By making an election in the My Correspondence & Records section, both quarterly statements and most transaction confirmations will no longer be sent by mail. Instead, they will be sent to your online secure mailbox on the Savings Plan Web site.

4 passWord rEsEt: You can set up challenge questions to reset your Password online in the event you forget your Password. Access the User Preferences to establish your security questions.

5 fund inforMation: You can access historic performance, fund fact sheets and additional information about the investment options, including investment management fees.

* If you are married and are naming someone other than your spouse as a primary beneficiary, you cannot process your designation online due to the written spousal consent and signature notarization requirements. You will need to download a Beneficiary Designation Form from the Forms section of the Savings Plan Web site or call the Information Line to request one be mailed to you.

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6WeSTINGhouSe 04/10

For use by plan sponsors and participants in certain qualified retirement plans only — NOT TO BE DISTRIBUTED TO THE GENERAL PUBLIC

Fund Manager

The ING Mid-Cap Growth Equity Fund is a collective investment trust fund maintained by ING Investment Trust Co., available to eligible qualified retirement plan clients. Designed exclusively for qualified retirement plans and their participants, the funds are not available to individual retail investors.

Summary

This is an actively managed strategy that relies on fundamental research and analysis toidentify companies with strong and accelerating business momentum, increasing marketacceptance, and attractive valuations. The objective is to outperform the Russell Midcap Growth index by 3-4% annually before management fees over full market cycles, with annualized tracking error of about 5-9%.

ING Mid-Cap Growth Equity Collective Investment Trust

Investment Process

Our disciplined, bottom-up strategy focuses on security selection, using rigorous fundamental research and analysis of the characteristics of individual companies. Theprocess begins with a quantitative evaluation of approximately 1,000 mid-cap companies, comparing each to the universe as a whole and to the peers in the company’s sector.Once the universe is ranked, the experienced portfolio management team concentratesits efforts on the top quintile of securities to validate the quantitative results and to add insight through stock-by-stock fundamental analysis. Buy and sell decisions are ultimately the result of the team’s qualitative judgment. In both phases, business momentum,market recognition, and valuation drive the process.

Quarter ending March 31, 2010

Fund FactsInceptionBenchmarkPortfolio Managers

Security CharacteristicsING Index

Weighted Ave. Cap $M $7,017 $7,068P/E (Incl. Neg. Values) 22.18 24.44P/E using NTM Est 16.33 17.98Price/Cash Flow 12.66 13.41Price/Book 4.02 4.04Dividend Yield 0.75 1.01EPS Growth 1 Yr F'cast 15.09 14.31ROA 7.85 7.77Number of Issues 86 489

Sector Weightings (%)ING Index

Consumer Discretionary 18.90 18.18Consumer Staples 6.94 7.19Energy 5.61 5.23Financials 9.23 8.86Health Care 15.75 14.02Industrials 13.88 15.10Information Technology 22.99 22.99Materials 4.45 4.74Telecom Services 1.28 1.06Utilities 0.97 2.63

Holdings (%)ING2.362.001.901.901.891.871.831.821.691.64Herbalife Ltd.

Bed Bath & Beyond Inc.Marvell Technology Group Ltd.

1/1/2008Russell MidCap Growth

Ross Stores Inc.

Amphenol Corp. (Cl A)

George LoebrichPortfolio Specialist

Jeff Bianchi, CFASenior Portfolio Manager

Cognizant Technology Solutions CorBMC Software Inc.

Coca-Cola Enterprises Inc.Hospira Inc.Wyndham Worldwide Corp.

The sector, security, and holdings information is basedon the Collective Investment Trust account that webelieve best represents this investment managementstyle. It should not be assumed that the advisercontinues to hold the securities listed. Other accounts might have slightly different portfolio characteristics.

The performance for NAV shares displayed above reflects the institutionalstrategy performance that was managed in the same style and was adjusted fordifferences in management expenses and administrative fees for this share class. NAV: Units are designed primarily for Participating Trusts that form parts of defined contribution plans. NAV Units are subject to ordinary Fund operating expenses andcompensation payable to the Trustee for its services to the Fund. A Participating Trustthat forms part of a defined contribution plan will hold NAV Units unless the Participating Trust and the Trustee agree otherwise. The Historical Composite Track Record information shown above represents net performance as calculated by deducting a model management fee and estimated Fund operating expenses from the gross return. The model management fee is equal to thehighest fee charged under the fee schedule currently offered for the CollectiveInvestment Trust. The gross return data utilized for the performance information above includes the composite returns of all discretionary portfolios managed in the investmentstrategy for the period 8/1/2005 to 12/31/2007. In addition the firm’s composite mayinclude separately-managed accounts, mutual funds, pooled trusts, and/or other investment vehicles. From 1/1/2008 to the present (after inception of the Collective Trustportfolio), the gross returns represent only the performance of the Collective InvestmentTrust. Gross performance reflects all portfolio transaction costs but excludes management fees. Past performance is no guarantee of future results and the possibility of loss does exist.Benchmark source: Frank Russell Company.

Trust NAV Track Record (%)

Quarter 1 Year 3 Years InceptionCollective Investment Trust (NAV) 6.71 58.32 — (2.59)

Russell MidCap Growth Index 7.67 63.00 — (5.68)Excess Return (0.96) (4.68) — 3.09

Annualized

Historical Composite Track Record (%)

Quarter 1 Year 3 Years InceptionMid-Cap Growth Composite (gross) 6.71 58.32 4.55 6.71

Russell MidCap Growth Index 7.67 63.00 (2.04) (5.68)Excess Return (0.96) (4.68) 6.59 12.39

Annualized

For use by plan sponsors and participants in certain qualified retirement plans only — NOT TO BE DISTRIBUTED TO THE GENERAL PUBLIC

Account Performance The portfolio underperformed the benchmark due to negative security selection. Weak selection was prevalent in three sectors: consumer discretionary, financials and health care. Positive selection in materials and consumer staples offset a large portion of the negative performance, however. In addition, a modest underweight to the relatively weak utilities sector proved effective.

Airgas Inc., Coca Cola Enterprises Inc. and Millipore Corp. were among the top performing stocks in the portfolio for the quarter. Airgas shares rallied significantly during the quarter after rival Air Products and Chemicals announced a hostile takeover bid at a substantial premium to the current trading price. In the same vein, Coca-Cola Enterprises was up sharply as The Coca Cola Company announced that it would acquire Coca-Cola Enterprises’ entire North American business. Millipore also was up after Merck entered into an agreement to acquire all of the outstanding shares in an all cap transaction.

The detractors this quarter included: Principal Financial Group Inc., INVESCO Ltd. and NutriSystem Inc. Principal Financial underperformed after reporting a disappointing quarter with weakness across businesses and worse than expected flows in full service accumulation due to continued client withdrawals. We sold the stock on a lack of catalysts. The stock then outperformed on increased optimism over investment portfolio losses being better than feared and positive equity market exposure. INVESCO underperformed as higher than expected expenses, mediocre flows and negative currency effects drove estimate revisions downward and caused the company’s earnings multiple to contract. The stock lacks a near-term catalyst as investors wait for the Van Kampen deal to close in a few months. We continue to own the stock, as it looks attractive based on 2011 earnings per share as INVESCO realizes the benefits of the acquisition. NutriSystem underperformed after giving earnings guidance that was below expectations, due to higher spending levels and lower sales growth.

Current Strategy and Outlook

Nonfarm payrolls rose by 162,000 in March, the biggest monthly advance in three years and the first convincing evidencesince the recession began that the job market is recovering. Of note is that job creation was spread across industries, which suggests to us that the uptick reflects broad economic momentum.

Going forward, our focus will be on the Federal Reserve as it inches closer towards plans to end, and ultimately reverse, its unprecedented easing of credit. We continue to expect near-term market volatility as central banks from around the world focus on changes to their monetary policies. We believe risk assets should remain favorable for at least the intermediate term. With historically high levels of cash on balance sheets, firms will look to deploy capital in order to grow organically. We believe mid cap stocks should be poised to benefit.

Important Information This commentary has been prepared by ING Investment Management for informational purposes. Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to theadvisability of investing in, purchasing or selling any security. Any opinions expressed herein reflect our judgment and aresubject to change. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, withoutlimitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels and (4) increasing levels of loan defaults (5) changes in laws and regulations and (6) changes in the policies of governments and/or regulatory authorities.

The opinions, views and information expressed in this commentary regarding holdings are subject to change without notice.The information provided regarding holdings is not a recommendation to buy or sell any security. Fund holdings are fluid andare subject to daily change based on market conditions and other factors.

Participation in a Collective Trust Fund is limited to eligible trusts that are accepted by the Trustee as Participating Trusts. Eligible trusts generally include (i) certain employee benefit trusts exempt from federal income taxation under Code Section 501(a); (ii) certain governmental plans or units described in Code Section 414(d), Code Section 457(b), and Code Section 818 (a) (6); (iii) certain commingled trust funds exempt from federal income taxation under Code Section 501(a); and (iv) certain insurance company separate accounts as defined in the Investment Company Act section 2(a) (17). Neither the fund nor units of beneficial interest in the Fund are registered under the Investment Company Act of 1940 or the Securities Act of 1933 in reliance on an exemption, under these acts applicable to collective trust funds maintained by a bank for certain types of employee benefit trusts. Collective Investment Trusts are not mutual funds and are not required to file a prospectus orregistration statement with the Securities and Exchange Commission and, accordingly, neither is available. Collective Investment Trusts are not mutual funds and are not required to file a prospectus or registration statement with the Securitiesand Exchange Commission and, accordingly, neither is available. Collective Investment Trusts are not mutual funds and are not required to file a prospectus or registration statement with the Securities and Exchange Commission and, accordingly,neither is available.

ING Mid-Cap Growth Equity Collective Investment TrustQuarter ending March 31, 2010