ZADCO Awards Honeywell with $17 Million Contract to Upgrade Automation in Abu Dhabi

PHOENIX--Aug. 1, 20039, 2003--

Experion PKS will Maximize Production, Reduce Operating and Maintenance Costs

Honeywell Industry Solutions has received a $17 million order from the Zakum Development Company (ZADCO) to supply, engineer, test, commission, and start up an Experion PKS(TM) Process Knowledge System(TM) for the Zirku and Satah plants on Zirku Island, Abu Dhabi. The new system will increase long-term production for ZADCO, improve plant safety, and maximixe ZADCO's Return On Capital Employed (ROCE).

Mr. Sayd Zaidi, Zakum Development Company's Project Manager, said, "ZADCO chose Honeywell as the best-fit automation partner because of their proven, reliable technology and ability to deliver on schedule. Another key factor was Honeywell's local engineering and service support capabilities in Abu Dhabi."

The contract includes the supply of a Honeywell integrated control and safety system, advanced applications and installation, commissioning and support services. When completed, the project will ensure production stability for a long period at Zirku, and will enable ZADCO to operate, maintain and keep up-to-date with the latest technology at lower operational costs. The changeover is based on hot transfer to the new system with an aggressive completion date scheduled for April 2005.

ZADCO operates the Zackum oil field, which is the second largest offshore field in the Middle East Gulf region and the fourth largest in the world. A comprehensive project named MOSAICS (Modernization Of SCADA and Instruments Control System) covers the Zirku Island facilities, the Satah plant, and the Zakum offshore oil field.

The Zirku Island facilities include crude oil treatment with hot and cold separation, gas treatment, propane compressor system, storage tanks, loading, and metering units. The Satah plant facilities include crude receiving, separation, metering, and gas sweetening. Utilities are common to both plants.

Honeywell International is a diversified technology and manufacturing leader based in Morris Township, N.J. With 2002 revenues of $22 billion, the company serves 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. The company's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. Honeywell is one of the 30 stocks that comprise the Dow Jones Industrial Average; it is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Industry 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 Industry Solutions, access www.acs.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.

Experion PKS(TM) and Process Knowledge System(TM) are trademarks of Honeywell International Inc.