Honeywell Completes $5 Million Automation and Reinstrumentation Project for SARPOM Pipeline.

PHOENIX -- Experion Process Knowledge System Improves Safety and Reliability of Crude Oil and Finished-Product Pipelines

Honeywell (NYSE:HON) today announced it has successfully completed a $5 million automation project for Italian oil company Societa per Azioni Raffineria Padana Olii Minerali (SARPOM) on time and within budget. The engineering procurement and construction contract called for the automation and reinstrumentation of the company's nine crude oil and finished-product pipelines by March 2004. SARPOM is a joint venture between ExxonMobil and ERG. Its finished products include gasoline, diesel oil, heavy and light fuel oil, jet fuel and virgin naphtha.

"Honeywell's Experion(TM) Process Knowledge System (PKS) will help us to achieve the pipeline project objective -- improving the safety and reliability of operation in compliance with current requirements and pipeline automation progress in protecting the environment," said Paolo Tagliaretti, SARPOM Project Manager. "Having Honeywell as our single interface for the entire project will prove beneficial to us now and in the years ahead."

Honeywell was responsible for the engineering, design, management, implementation, procurement and construction of SARPOM's entire pipeline automation system. In addition to boosting production capacity, reliability and quality, Experion will help SARPOM comply with new environmental protection laws by improving the detection of and response to pipeline leaks.

"SARPOM selected us for this project because of our reputation for reliability, safety and customer service and support," said Jack Bolick, President of Honeywell Process Solutions. "Honeywell had the right combination of technology solutions that met SARPOM's requirements for quick start-up times and immediate benefits."

The project included a variety of Honeywell technologies, including three global user stations, Honeywell ST3000 Smart Transmitters, Fail Safe Controllers (FSC(R)) and safety systems. SARPOM opted for Honeywell's FSC systems because they are easily integrated with the company's existing Honeywell systems and because TUV, a leader in independent testing and assessment services, approved them for use in safety applications.

SARPOM operates a complex network of pipelines comprising 470 km of pipes in varying sizes ranging from six to 20 inches. The Honeywell pipeline automation project affects the Quiliano crude oil pipeline; the Arluno, Chivasso, Malpensa Airport, Vado Ligure and Turbigo finished-product pipelines; among other smaller pipelines.

The Quiliano crude oil pipeline moves eight million cubic meters of crude oil per year, which makes up the total refinery feedstock. The finished-product pipelines move six million cubic meters of refined products, equaling 80 percent of refinery output.

SARPOM's refinery in San Martino di Trecate (close to Novara) has operated since 1952. The refinery covers an area larger than one million square meters and produces 250,000 barrels per day. It has a balanced oil capacity of nine million tons per year and a real capacity of 6.7 million tons per year. The Vado Ligure sea terminal in Savona supplies the refinery's crude oil through a 20-inch, 150-km pipeline via a depot in Quiliano.

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 www.honeywell.com. 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 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(TM) is a trademark and FSC(R) is a registered trademark of Honeywell International Inc.