Honeywell Awarded Contract by Motor Oil Hellas For Comprehensive Automation Contract |

Honeywell Awarded Contract by Motor Oil Hellas For Comprehensive Automation Contract

April 072004
Corinth Refinery to Increase Control and Monitoring Capabilities Through Honeywell TPS System

PHOENIX, April 7, 2004 - Honeywell (NYSE: HON) Process Solutions announced today a $4.3 million contract with Motor Oil Hellas (MOH) in Aghii Theodory, Greece to expand the control and safety systems at the company's 100,000-barrel-per-day refinery in Corinth. The system expansion is part of a refinery-wide project to comply with new European Union fuel specifications starting in 2005. Through this project, the refinery will reinforce its ability to control and monitor the new processes, while ensuring the safety of daily operations.

"We have worked with Motor Oil Hellas since 1999 and are looking forward to further strengthen our relationship through this new opportunity," said Jerry Walker, Honeywell Process Solutions' Vice President of Europe, Middle East and Africa. "Honeywell's technology will provide MOH with cost-effective tools for optimizing process performance, improving employee productivity and getting better results overall from the resources they already have in place."

The contract includes Honeywell process control systems, High-Performance Process Managers, Fail-Safe Control (FSC®) systems, engineering, on-site services and project management.

The project will be conducted in two phases. The first phase includes the revamp of existing process units. To satisfy the needs of these revamped units, Honeywell will add new modules to expand the existing distributed control and safety management systems. Existing configuration and operator interfaces will be modified properly according to the revamping activities. The second phase is related to the construction of new units - the Mild Hydrocracker, Hydrogen production, Sulfur recovery, Utilities and others. A Honeywell distributed control system designed with the same standards as the existing one will control the new units. Four fully redundant Fail-Safe Control systems will manage the emergency shutdown functions.

Honeywell International is a $23 billion 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., 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

Honeywell Process 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 Process Solutions, access

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.

FCS® is a registered trademark of Honeywell International Inc.

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