Honeywell Receives $11.4 Million Experion PKS Automation Order From ConocoPhillips

    PHOENIX--Dec. 16, 2002--The Honeywell Industry Solutions business has received an $11.4 million order for automation systems and services in support of the Magnolia Deepwater Development Project operated by Conoco Inc., a subsidiary of ConocoPhillips. The Magnolia development, located 180 miles off the coast of Louisiana, is the initial development project in ConocoPhillips' Deepwater Gulf of Mexico program.
    Honeywell will supply a variety of services for the Magnolia project, manage all project relationships connected to automation, and implement its next-generation system for process control--the Experion PKS(TM) Process Knowledge System(TM). Honeywell will effect seamless integration with the engineering contractors for the offshore platform topsides, marine, and living quarters, as well as with the information technology and telecommunications contractor.
    John Ford, Conoco Inc.'s Magnolia Offshore Installations manager, said, "We found Honeywell offers today's best-in-class technologies. In addition, we like the fact that Honeywell is focused on delivering business results, as is evidenced by their business consulting capabilities. Honeywell also has a long history of executing successful Conoco projects."
    Jack Bolick, President of Honeywell Industry Solutions, said, "We're excited about this opportunity to expand our global alliance with ConocoPhillips to include the Gulf of Mexico Deepwater program. As both automation consultant and supplier, we'll be looking to maximize business results for ConocoPhillips. We're also pleased this project will be utilizing Experion PKS, our next generation system."
    Besides delivering multiple, integrated Experion PKS systems, Honeywell scope of supply includes the FSC(R) safety system, Uniformance(R) PHD historian software, and Asset Manager PKS(TM) asset management applications. Services also include business consulting, project management, design and detailed engineering, configuration, testing, integration with business systems, installation support, commissioning, startup support, and life-cycle services and support over the expected 20-year life of the asset.
    The Magnolia project is planned for completion with first oil in the fourth quarter of 2004.

    Honeywell Industry Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions to create efficient, safe, and comfortable environments, and help business and industry improve productivity and profitability. For more information about Industry Solutions, access http://www.acs.honeywell.com/. Honeywell International is a diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; specialty chemicals; fibers; plastics; and electronic and advanced materials. Based in Morris Township, N.J., Honeywell employs about 100,000 people in 95 countries. The company'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.

    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.

    FSC(R)and Uniformance(R)are registered trademarks and Experion PKS(TM), PKS(TM), Process Knowledge System(TM), and Asset Manager PKS(TM) are trademarks of Honeywell International Inc.