Conoco Awards .3 Million Automation Services Contract to Honeywell

Thursday August 16 by Press Release Submission
Phoenix - The Industrial Control business of Honeywell (NYSE:HON) signed a $5.3 million contract with Conoco Inc. (NYSE:COC.A) (NYSE: COC.B) to provide general automation contract services for the energy company's gas-to-liquids semi-works facility currently under construction in Ponca City, Oklahoma.

Front-end engineering services were completed in May 2001, with overall automation expected to be complete by August 2002.

Under the terms of the agreement, Honeywell will provide general contract services to facilitate the rapid execution and deployment of automation solutions for the $75 million demonstration facility, being built as part of the initiative to commercialize the company's proprietary gas-to-liquids technology.

"Conoco has a longstanding relationship with Honeywell, and its familiarity with our project procedures and best practices will facilitate the smooth transfer of gas-to-liquids technology from our R&D facility to a commercial plant," said Philip L. Frederickson, Conoco vice president, Business Development.

"Conoco's leading-edge gas-to-liquids technology will be combined with Honeywell's expertise in process control to implement advanced automation solutions for the company," said Ginny Burnell, Vice President of Sales, Honeywell Industrial Control. "Honeywell's established relationship with Conoco will further accelerate the implementation phase of this project."

Conoco became a Strategic Corporate Account with Honeywell in 1999 by signing a global alliance agreement.

Conoco is a major, integrated energy company active in 40 countries. Honeywell Industrial Control, headquartered in Phoenix, Arizona, is a $3 billion global leader in the supply of automation systems, advanced software solutions and value-added services used in a variety of industries including refining, petrochemicals, chemicals, oil and gas, pulp and paper, pharmaceutical, consumer packaged goods, and power generation. Industrial Control is also a leading global supplier of sensors, switches and control products for automotive, information technology, consumer, aviation and industrial applications. For inquiries, call 1-800-288-7491 or access http://www.iac.honeywell.com.

Honeywell is a US$25-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. 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 as further described in our filings under the Securities Exchange Act.

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Honeywell Industrial Automation and Control
16404 N. Black Canyon Highway
Phoenix, AZ 85053
1-800-288-7491

Honeywell Industrial Control

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