The effect of slow rotation on the dipole magnetic field of neutron stars is studied. It is shown that the differential rotation of inertial frames produced by the effect of “dragging of inertial frames” induces an additional component of electric field outside the star. This new component, as well as the usual electromagnetic components, vanishes as in the limit of collapse of a star to its Schwarzschild radius. For typical neutron stars, the electric quadrupole moment is about half that obtainable from a flat space analysis.