On the surface, these two codes don't sound related.
P0489-EGR CONTROL CIRCUIT LOW
Theory of Operation
There are two portions to this diagnostic: 1. The diagnostic monitors motor effort as a measure of current. When the valve is opening to a position, and uses too much motor effort to achieve that position the diagnostic will fail. This will most likely occur in a situation when the valve is stuck. 2. At every key on, the valve tries to recalibrate it's position. The valve shaft will move until it comes into contact with the valve. If the distance the valve shaft must move is different by a calibrated amount than the original learned movement then the diagnostic fails. This will most likely occur if the valve is stuck in an open position. The valve will perform this autozero function at every key on and every time the valve is commanded closed throughout the engine operating cycle. The ECM will illuminate the MIL lamp after the diagnostic runs and fails in two consecutive drive cycles. The ECM will also turn on the ETC lamp. During this time the ECM will not longer control the EGR valve. The MIL lamp will turn off once the diagnostic runs and passes in 4 consecutive drive cycles.
Diagnostic Test
1. DTC P0489 ACTIVE
Ignition on, engine not running.
With the scan tool, read DTC's.
Is DTC P0489 active?
Yes
Replace EGR valve.
Perform POWERTRAIN VERIFICATION TEST - 6. 7L. (Refer to 9 - ENGINE - STANDARD PROCEDURE)
P0700-TRANSMISSION CONTROL SYSTEM (MIL REQUEST)
Possible causes: DTC PRESENT IN THE TRANSMISSION CONTROL MODULE
Set Condition:
An active DTC is stored in the TCM. One Trip Fault. Three good trips to turn off the MIL.
Diagnostic Test
1. DTC PRESENT IN EATX CONTROLLER
This is an informational DTC letting you know that a DTC(s) is stored in the Transmission Control Module.
Erase this DTC from the ECM after all Transmission DTC(s) have been repaired.
Using a scan tool, read the Transmission Controller DTC and refer to the Transmission Category and perform the appropriate symptom.
PCM Diagnostic Information complete.