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DUFF & PHELPS MONITORS HONEYWELL AFTER LITTON JUDGEMENT

 CHICAGO, Sept. 1 /PRNewswire/ -- Litton Industries (NYSE: LIT) was awarded yesterday a $1.2 billion judgment against Honeywell for patent infringement in the production of ring laser gyros (used in commercial and military aircraft). Duff & Phelps is closely monitoring the situation and any future rating actions are likely to stem from the judge's ultimate ruling.
 There are numerous facets to this complicated case which lead us to conclude that the ultimate magnitude of any award to Litton and the effect on Honeywell remain open to question, stated Duff & Phelps.
 Importantly, the judge in this case has considerable discretion to modify any judgments in order to "fashion an equitable remedy." The $1.2 billion award related only to a jury determination of the compensatory damages due Litton. The judge continues to hear evidence regarding other matters related to the case, including Honeywell's assertion of "inequitable conduct" by Litton.
 This "inequitable conduct" relates to Honeywell's allegations that Litton did not provide adequate disclosure regarding the "state of the art" for producing mirrors for RLGs at the time of its patent application and that had it done so, patent rights would not have been granted. A finding of inequitable conduct would be sufficient to reverse the jury verdict.
 -0- 9/1/93
 /CONTACT: Albert Turner of Duff & Phelps, 312-630-4656/
 (LIT HON)


CO: Litton Industries; Honeywell ST: IN: SU:

TW -- NY066 -- 8089 09/01/93 16:06 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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