Honeywell Wins Contract For Engines And Avionics For New Raytheon Hawker 450 Business Aircraft.

Business & Aerospace Editors

NEW ORLEANS--(BUSINESS WIRE)--Oct. 9, 2000

Contract Valued At $1 Billion Over First Ten Years; TFE731-40 Engines And Primus Epic(TM) Avionics Suite Will Be On New Mid-Size Jet

Honeywell (NYSE:HON) announced today that it has been selected to supply the main engines and avionics for Raytheon Aircraft's new Hawker 450 light mid-size

business jet. The contract is valued at $1 billion over the first ten years of the agreement.

Honeywell will provide its TFE731-40 propulsion system and Primus Epic integrated avionics suite for the new aircraft.

"Raytheon's selection of Honeywell as its supplier of integrated propulsion systems and avionics for this new aircraft shows our strength as an unlimited partner for OEMs and operators in business aviation," said Bob Johnson, President and CEO, Honeywell Aerospace. "Just as Primus Epic is designed to reduce the number of avionics components in the airplane which reduces weight and improves reliability, our TFE731-40 engine is also designed to deliver lower operating costs, increased performance, improved durability, reliability and maintainability compared to other engines."

Honeywell's fully integrated propulsion system includes engine, engine buildup, nacelle, mounts and thrust reverser system. Each TFE731-40 turbofan engine is capable of delivering 4250 pounds of static takeoff thrust at sea level to 87(degree) F. The engine delivers 1010 pounds of thrust at 40,000 ft., Mach 0.8 (ISA) with a Thrust Specific Fuel consumption of 0.457.

Primus Epic's architecture is designed to incorporate any number of aircraft functions, like Traffic Alert and Collision Avoidance, Enhanced Ground Proximity Warning System and other aircraft functions that would normally require individual avionics boxes for their operation and display in the cockpit. By incorporating a number of aircraft functions, Primus Epic reduces power requirements and aircraft weight while improving reliability and maintainability over previous generation avionics systems.

Honeywell's aerospace business has sales of $10 billion and is headquartered in Phoenix, Arizona, USA. It is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.

Honeywell is a US$24-billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics; and electronic and advanced materials. The company is a leading provider of software and solutions, and Internet e-hubs including MyPlant.com, MyFacilities.com and MyAircraft (joint venture with United Technologies and i2 Technologies). Honeywell employs approximately 120,000 people in 95 countries and is traded on the New York Stock Exchange under the symbol HON, as well as on the 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. Additional information on the company is available on the Internet at www.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.