DOUGLAS DYNAMICS, INC — Director's Dealing 2010

May 4, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: DOUGLAS DYNAMICS, INC (PLOW)
CIK: 0001287213
Period of Report: 2010-05-04

Reporting Person: TRUSTEES OF GENERAL ELECTRIC PENSION TRUST (10% Owner)
Reporting Person: G E ASSET MANAGEMENT INC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock		Direct

Footnotes

F1: The number of shares of common stock reflects a 23.75 for 1 stock split of the issuer's common stock that will become effective immediately prior to the consummation
of the issuer's initial public offering of its common stock. Consists of shares held directly by General Electric Pension Trust ("GEPT") as to which it has 100% pecuniary
interest. GE Asset Management Incorporated ("GEAM") is the investment manager of GEPT. GEAM shares voting and dispositive power over the shares herein
reported and may be deemed to be the beneficial owner of such shares for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended. GEAM has
no pecuniary interest in such shares and reports no shares owned.