The Obama transition team issued the following statement on today's meeting:

President-elect Barack Obama and Mrs. Michelle Obama were very warmly welcomed today at the White House by President George Bush and First Lady Laura Bush. Upon arriving, President-elect Obama and President Bush proceeded to the Oval Office, where they had a productive and friendly meeting that lasted for over an hour. They had a broad discussion about the importance of working together throughout the transition of government in light of the nation's many critical economic and security challenges. President-elect Obama thanked President Bush for his commitment to a smooth transition, and for his and First Lady Laura Bush's gracious hospitality in welcoming the Obama's to the White House."

The president-elect also held a mysterious private meeting at Washington's National Airport before heading back to Chicago.

Photo: Eric Draper/The White House via Getty Images