Honeywell Acquires Intelligent Automation Corporation

PHOENIX, June 3, 2008 – Honeywell (NYSE: HON) announced today that it has signed a definitive agreement to acquire Intelligent Automation Corp. (IAC), a leading supplier of helicopter on-board diagnostic systems used in both military and commercial aircraft. The acquisition is subject to regulatory review.

Intelligent Automation Corp. headquartered in Poway, CA, also serves the fixed wing aircraft, unmanned aerial vehicle (UAV) and ground vehicles with Health and Usage Monitoring Systems (HUMS), which provide vital information and data for aircraft diagnostics and prognostics, and airworthiness and reliability.

“With the acquisition of Intelligent Automation Corporation, Honeywell builds on our existing HUMS services to reach new customers around the globe,” said Ed Wheeler, President, Honeywell Defense and Space. “Honeywell is now a market leader in HUMS services, which the company has operated for more than 50 years for commercial and military helicopters and fixed wing aircraft. HUMS aircraft diagnostic systems provide a dramatic reduction in maintenance hours and maximum flexibility – which lower overall aircraft maintenance costs.”

IAC’s HUMS systems are now deployed on more than 500 aircraft and selected on over 1,000 aircraft, including the U.S. Army AH-64 (Apache), C/MH-60 (Blackhawk), C/M/HH-47 (Chinook) Helicopters and the OH-6 (Little Bird). IAC also provides services for the Republic of Singapore Air Force’s (RSAF) AH-64D helicopters. With this transaction, Honeywell significantly expands its existing HUMS service reach.”

“IAC technologies solve complex problems,” Wheeler said, “with easy to understand advanced systems that increase aircraft mission readiness, reduce operating costs and improve public and crew safety. Honeywell will provide a wider array of health and usage monitoring systems to more effectively support the Department of Defense efforts to make military aviation safer and to reduce operating expenses.”

Honeywell’s existing technologies include aircraft vibration, engine, structural health, and operational usage monitoring, which when combined with proprietary ground support equipment and software, provide actionable maintenance information for helicopter operators.

Honeywell International is a $37 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 certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.

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