High Performance, Fuel Efficient Aircraft Engine Reduces Operational Costs, Provides Superior Power and Reliability

Agreement Valued at $52 Million

GENEVA, November 19, 2008 – Honeywell (NYSE:HON) announced today that its International Turbine Engine Company (ITEC) has been awarded a contract to deliver F124-GA-200 engines to Alenia Aermacchi, a Finmeccanica Company, for the production of the Advanced Jet Trainer M-346. The initial agreement is valued at US $52 million.

“The design and durability of the ITEC F124 engine delivers an additional performance margin over other aircraft engines, allowing it to maintain aircraft specification thrust levels for a longer period of time,” said Dave Marinick, President, ITEC. “This enables the M346 to provide a level of performance unrivaled by any other advanced jet trainer.”

“The F124-GA-200 Honeywell ITEC engine includes several features designed to ease maintenance, such as an integrated engine monitoring system that monitors engine health and tracks life usage and on-condition maintenance,” Marinick added. “The engine has also been designed to significantly reduce maintenance and downtime, improving fleet and mission readiness.”

The F124-GA-200 engine design includes new mount adapters, a new accessory gearbox with provisions for mounting aircraft accessories and a new exhaust system. It also includes a new, full authority digital engine control (FADEC) based on Honeywell’s latest modular aerospace control architecture, offering superior reliability and performance. The F124-GA-200 engine is a derivative of an existing turbofan engine, the F124-GA-100, used on the Czech Republic fleet of AF L-159 aircraft. Additionally, an afterburning version of the F124, designated the F125IN, is currently being considered for the Indian Air Force Jaguar re-engine program.

The F124-GA-200 engine provides primary propulsion power for the M346 aircraft. A high performance powerplant with the highest thrust to weight in its class, the F124-GA-200 is a low bypass ratio engine, meeting the most rigorous requirements of modern light combat and advanced trainer aircraft. It is the latest variant in the F-124 family that also includes the F124-GA-100 for the Aero Vodochody/CzAF L-159 and the Boeing/DARPA X-45A UCAV.

The M-346 aircraft is a twin-engine, transonic, advanced trainer capable of flight qualities and performance matching those of the latest generation of front-line fighters. The combination of the M-346's superior performance, high reliability, and low life-cycle-cost make the F124 an ideal powerplant to meet the fleet’s training requirements worldwide.

For more information about Alenia Aermacchi and the M-346 new generation advanced lead-in fighter trainer, visit www.aermacchi.it.

Honeywell International is a $38 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com.

Based in Phoenix, Honeywell’s $12 billion aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.

Media Contact:
Cathy Gedvilas
(602) 365-5930
cathy.gedvilas@honeywell.com