MORRIS TOWNSHIP, New Jersey, September 27, 2002 - Honeywell's Fluorine Products business announced today that its new production facility for Genesolv® SF (HFC-245fa) began commercial operation in early August, 2002. First shipments of commercial product will begin in September. The plant start-up is the culmination of a 10 year, over $130 million dollar investment by Honeywell, and occurs in advance of the mandated phase-out of HCFC-141b. The successful start-up ensures that users worldwide will be prepared to transition away from HCFC based solvents in a smooth and orderly fashion. Genesolv® SF and S-TZ are Honeywell's non-flammable, zero-ozone depleting replacements for HCFC-141b and other solvents.

"This major investment by Honeywell illustrates our commitment to providing customers with products that ensure their continued business success in the face of a dynamic regulatory environment", states Richard Preziotti, Vice President and General Manager, Fluorine Products. "Our commercialization of the Genesolv® S Series builds on Honeywell's successful track record of bringing innovative chemicals and materials to market," continues Preziotti. Honeywell's Genesolv® S Series production facility is located in Geismar, Louisiana, in close proximity to a new Vulcan Chemicals facility dedicated to the production of HCC-240fa, an important feedstock for Genesolv® SF production. The HFC-245fa plant has been sized to meet global demands for the rigid foam and solvents markets. Honeywell's supply chain team has structured a robust process to reliably fill customers needs globally for the product. Applications targeted globally for the use of the Genesolv® S Series include electronics cleaning, air conditioning and refrigeration flushing, general aerosol solvents, and a variety of other specialty solvent applications.

"A fluorocarbon based solvents supplier for more than 40 years, Honeywell continues to develop and commercialize products that meet the needs of the global solvent industry," said Honeywell's Carol Bibb, Business Director Specialty Fluorines. "We partnered with our customers in the transition from CFC-11 to HCFC-141b and are ready once again with Genesolv® SF to provide them with the next generation solvent."

As part of the Montreal Protocol on Substances that Deplete the Ozone Layer, production and use of HCFC-141b is being phased out around the world because of its potential to deplete the earth's stratospheric ozone layer. The U.S. is scheduled to phase out HCFC-141b as of January 1, 2003. Europe has established application phase-outs for HCFC-141b and other HCFCs to occur during the 2002-2004 time period. Japan is scheduled to phase out of HCFC-141b as of January 1, 2004, with other countries and regions following over the next several years.