Bonsignore Named Chairman of US-China Business Council.

WASHINGTON D.C.--(BUSINESS WIRE)--June 9, 1999--

Honeywell's chairman and chief executive officer, Michael R. Bonsignore, yesterday, was named Chairman of the US-China Business Council.

The Council is the principal association of US companies pursuing business with the People's Republic of China and plays a central role in key policy issues of significance to US businesses and the future of US-China relations.

In a statement delivered to the Council's Annual Membership Meeting in Washington D.C., Bonsignore said "I believe that the Council has a historic opportunity to help our nation achieve very positive, concrete milestones in US-China relations including the accession of China to the WTO and the extension of permanent NTR by the United States to China." He further said "There are significant business opportunities for both countries in the US-China partnership. I believe we should seek every chance we can to broaden the perspective of the many stakeholders of the US-China relationship."

As chairman and chief executive officer at Honeywell, Bonsignore has focused on furthering the company's global reach including the expansion of operations in China. Today, Honeywell serves China with nearly 4,000 local employees who provide sales, engineering, manufacturing, installation and services functions in Honeywell's Industrial Control and Home and Building Control businesses. AlliedSignal, who announced plans to merge with Honeywell June 7, has 1,000 employees in eight joint ventures and three wholly-owned businesses across China.

George M.C. Fisher, former Chairman of the US-China Business Council and Chairman and CEO of Eastman Kodak Company welcomed Bonsignore's election. "Michael Bonsignore heads a savvy corporate team with a powerful record of business achievements in China. He is ideally prepared for leadership of the US-China Business Council."

Founded in 1973, the US-China Business Council maintains headquarters in New York, with field offices in Beijing, Shanghai and Hong Kong. The organization publishes the China Business Review, the leading journal of US-China commerce and economic affairs. The US-China Business Council web site address is http://www.uschina.org.

Honeywell is the world's leading provider of control technologies for buildings, homes, industry, space and aviation. The company employs 57,000 people in 95 countries and had 1998 sales of $8.4 billion.