Honeywell to Offer Exclusive OLI Systems Technology Through Unisim Design |

Honeywell to Offer Exclusive OLI Systems Technology Through Unisim Design

Technology Will Be the First in the Industry to Integrate a Corrosion Analyzer with a Process Simulator

PHOENIX, Apr. 24, 2006 – Honeywell (NYSE:HON) today announced an exclusive partnership with OLI Systems, Inc. that enables process engineers to have access to the industry’s first process simulator that is integrated with a corrosion analyzer. Users will be able to more accurately design processes involving electrolytes, as well as predict corrosion that results from those processes. Through its UniSim™ Design simulation system, Honeywell will offer OLI’s Corrosion Analyzer, as well as OLI’s Mixed Solvent Electrolyte (MSE) frameworks and databases. The new features will be made available with the next commercial release of UniSim Design later this month.

“By entering into this agreement, we’re broadening the range of solutions that UniSim Design can provide process engineers,” said Mark Hagen, director of advanced solutions for Honeywell Process Solutions. “End users will now have the opportunity to more accurately predict the output of their processes and consider corrosion in their design. With this information, manufacturing companies can better plan their business objectives and ensure their equipment remains in good condition.”

The Corrosion Analyzer will help engineers determine the cause of corrosion in a process before it happens, thereby allowing them to take preventative measures and reduce downtime.

This is the second agreement between Honeywell and OLI. The first agreement, announced last May, paved the way for the companies to offer UniSim OLI, an optional add-on to the first commercial release of UniSim Design that enabled engineers to create and analyze models of aqueous electrolyte systems. The new agreement takes those functions a step further by enabling engineers to use UniSim Design for almost any process involving electrolytes.

In return, OLI will use the UniSim technology to enhance the user interface for its Electrolyte Simulation Program (ESP) software.

“Under this agreement, OLI has assured that the future user interface for the ESP software is the platinum standard for such tools,” said Marshall Rafal, OLI president. “Our MSE and corrosion technology will be embedded in Honeywell’s UniSim Design software; a product that we believe will become the best-in-class process flowsheet simulator for the chemical process industries.”

UniSim Design helps engineers create steady-state and dynamic models for plant design, performance monitoring, troubleshooting operational improvement, business planning and asset management. It is part of Honeywell’s family of simulation software and engineering services designed to improve performance throughout the lifecycle of a processing plant.

About Honeywell International
Honeywell International is a $30 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty 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. 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.

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.

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