Honeywell Elects Lord Clive Hollick to Its Board of Directors; Director Ann Fudge Steps Down from Board

    MORRIS TOWNSHIP, N.J.--June 2, 2003--Honeywell announced today that Lord Clive Hollick, chief executive of United Business Media plc, has been elected to its Board of Directors.
    The company also announced that Ann Fudge, a director since 1993, has stepped down from the board in order to concentrate on her new responsibilities. Last month, Ms. Fudge was named chairman and chief executive of WPP Group's Young & Rubicam Inc. and Y&R Advertising units.
    With the addition of Lord Hollick and the departure of Ms. Fudge, both effective June 1, the number of Honeywell directors remains at 13. Lord Hollick will assume Ms. Fudge's place on the board and complete her term, due to expire in 2006.
    Lord Hollick, 58, has held leadership positions with London-based United Business Media and its predecessor companies since 1974. United Business Media is a $1.3 billion international information and publication services group whose operations include periodicals, magazines, electronic news distribution, exhibitions and financial information. The company's properties include Channel 5 in the United Kingdom; CMP/Miller Freeman, the trade publication and events business; PR Newswire, the news distribution business; and NOP World, the market research group.
    "Lord Hollick's leadership experience, as well as his proven record of success in businesses around the world, will make him a valuable addition to Honeywell's board," said Dave Cote, chairman and chief executive of Honeywell. "We look forward to the benefits of his insights and counsel, especially in the areas where he has been so successful, real-time global information management and distribution services."
    Mr. Cote also expressed his gratitude to Ms. Fudge. "Ann Fudge has served Honeywell and its shareholders with distinction since 1993," he said. "Her advice and vision over the past 10 years have been instrumental in helping to steer our company through an evolving and challenging business environment. While Honeywell will miss her insightful contributions to the board, Young & Rubicam is wise to recognize Ann's unique talent and her proven ability to produce results. This is a tremendous opportunity for Ann and we wish her every success in this new endeavor."
    Lord Hollick currently serves on the boards of United Business Media and Diageo plc. Previously, he was a non-executive director of several companies, including Hambros Bank from 1973 to 1996, Logica plc from 1987 to 1992, British Aerospace plc from 1992 to 1997, and TRW Inc. from 2000 to 2002. He has also served as an advisor to several successive UK Labour Party leaders, including Prime Minister Tony Blair, was a Special Adviser to the UK government in 1997 and 1998 and was a member of the House of Lords Committee on Science and Technology.
    A life Peer since 1991, Lord Hollick is active in The Institute for Public Policy Research, a think tank which he founded; and the Prince's Trust, established by the Prince of Wales to provide support and mentoring for young people wishing to set up their own businesses.
    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; and electronic and advanced materials. Based in Morris Township, N.J., USA, 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