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Johnson Controls Sees Q4 Earnings Exceeding Market Expectations

20 September 2000

Johnson Controls Sees Fourth-Quarter Earnings Exceeding Market Expectations
    MILWAUKEE, Sept. 19 Johnson Controls, Inc.
said today that it expects to report that earnings for the fourth quarter of
its fiscal year 2000 will be $1.60 - $1.63 per diluted share, at least 16%
over the $1.38 per diluted share for the three months ended September 30,
1999, and higher than the current consensus analyst estimate of $1.57.
Assuming that range for the 12 months ended September 30, 2000, earnings per
diluted share would total $5.06 - $5.09, at least 23% higher than $4.13 for
fiscal 1999.
    The company said that the record earnings level during the fourth quarter,
as well as the full-year, reflects operating margin improvements by both its
automotive and controls businesses as well as a strengthened financial
position.  According to Chairman and Chief Executive Officer, James H. Keyes,
"Johnson Controls employees focus on customer satisfaction and continuous
improvement, together with our investments in technology and productivity,
continue to result in higher financial returns.  We are pleased that 2000 will
be our tenth consecutive year of achieving record earnings."
    The company stated that it issued this preliminary release in advance of
meeting with analysts next week in association with the Paris auto show.  It
said that it intends to release its final results for the three and 12 months
ended September 30, 2000 on October 19.