Agreement Includes Software Offerings That Complement Honeywell’s Profit Suite and UniSim Solutions

PHOENIX, Jan. 30, 2007 – Honeywell (NYSE:HON) announced today it has acquired the Advanced Process Control (APC) and Optimization business of PAS Inc., a leading software provider for the process industries. The acquisition includes all the software offerings related to the APC business, which complement Honeywell’s portfolio of advanced control and optimization technology. The software offerings also will enhance Honeywell’s family of process simulation tools used to design better processes and train operators to be more efficient.

“PAS is a proven leader in the process industries, and this agreement reinforces Honeywell’s commitment to provide superior value to customers through advanced solutions,” said Jack Bolick, Honeywell Process Solutions president. “Our offerings deliver more meaningful process information to operators and engineers to help them align operations with business objectives. Incorporating PAS’ proven advanced process control technology with our own will contribute to that strategy and offer a more innovative product.”

By integrating key PAS APC technologies with Honeywell’s Profit Suite™ advanced process control and UniSim® simulation solutions, Honeywell will offer the following benefits to its customers:

• Improved polymer production control and optimization that can result in production increases ranging from 2-8% and up to 30% reduction in polymer grade transition times through incorporation of PAS’ field-proven Polymers NLC* and Polymer Dynamic Modeling System (PDMS) technologies into the UniSim system.
• Improved high-level optimization benefits such as increased production rates, reduced energy consumption, and improved product quality using PAS’ open-equation based NOVA* Optimization System within Honeywell’s ProfitMax® Real-Time Optimization System.
• Superior control and optimization benefits through incorporation of the STAR™ and Galaxy™ control technologies within Profit Suite.

As part of the deal, Honeywell acquires PAS’ Advanced Process Control and Optimization employees and will continue to serve the division’s customers.

“PAS customers will continue to receive the highest-quality support so that the benefits they are realizing today continue in the future,” Bolick said.

Honeywell’s project delivery capabilities for advanced control and optimization will be enhanced by the more than 200 years of combined refining and petrochemicals experience among the PAS staff.
PAS is a leading supplier of software products and consulting services to the process industries worldwide and has been delivering value to customers around the world since 1993.  Key applications include Alarm Management and Automation Configuration Management, an application resold by Honeywell under OEM agreement.   For more information, see www.pas.com, or visit the PAS blog at www.pasprez.typepad.com. 

Honeywell International is a $31 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, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Process Solutions is part of Honeywell’s Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Honeywell Process Solutions, access www.honeywell.com/ps.

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.

UniSim® and ProfitMax® are registered trademarks and Profit Suite™, STAR™ and Galaxy™ are trademarks of Honeywell International Inc. *All other marks are trademarks of their respective owners.