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Honeywell is a US$30-billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics; and electronic and advanced materials. Honeywell employs approximately 115,000 people in 95 countries and is traded on the New York Stock Exchange under the symbol HON, as well as on the 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. Additional information on the company is available on the Internet at www.honeywell.com.

¡¡¡¡Honeywell Technology Solutions Labs (HTSL) China is a wholly owned subsidiary of Honeywell Inc. and serves as a corporate resource for Honeywell. The group provides world-class software product development support, research and technology development, technical consulting and digitization services to Honeywell businesses worldwide.

¡¡¡¡The lab in both Shanghai and Beijing currently has about 250 engineers and is a part of the global team of 5000 engineers at Minneapolis and Phoenix in USA, Bangalore and Madurai in India and Brno in Czechoslovakia.

¡¡¡¡The facility in China is poised to grow to about 300 engineers by year 2006 and leverages the robust ISO 9001 TicKIT certified processes of the SSL including its software six sigma process with SEI-CMM Level 5 maturity.