Minneapolis Public Housing Authority And Honeywell Launch Landmark Energy Retrofit Program

Comprehensive Program Will Upgrade Hundreds of Buildings, Save Millions in Annual Utility Costs and Create Local Jobs MINNEAPOLIS, Dec. 14, 2009 – Minneapolis Public Housing Authority (MPHA) and Honeywell (NYSE: HON) today announced a $33.6?million energy efficiency and facility renewal...

Comprehensive Program Will Upgrade Hundreds of Buildings, Save Millions in Annual Utility Costs and Create Local Jobs

MINNEAPOLIS, Dec. 14, 2009 – Minneapolis Public Housing Authority (MPHA) and Honeywell (NYSE: HON) today announced a $33.6million energy efficiency and facility renewal program that will help the housing authority improve its infrastructure, reduce its impact on the environment, and save more than $3.7 million in utility costs per year. Local contractors will also complete a majority of the work for the program, one of the largest of its kind for a public housing authority, helping boost the Twin Cities job market.

MPHA will use the energy savings from the program — guaranteed by Honeywell through a 20year performance contract — to finance most of the improvements, which will impact more than 40 highrise buildings and 700 singlefamily residences across the city. The work is expected to pay for itself over the course of the contract.

“This program allows MPHA to make important upgrades to our properties in a way that will benefit our residents, contribute to the longterm preservation of our affordable housing resources, make significant investments in the local economy and greatly diminish our carbon footprint ” said Cora McCorvey, MPHA executive director.

The program will reduce the housing authority’s annual electricity consumption by approximately 3.3 million kilowatthours, enough energy to power 310 homes per year on average. It also will cut carbon dioxide emissions by an estimated 19.2 million pounds annually. According to figures from the U.S. Environmental Protection Agency, this is equivalent to removing almost 1,600 cars from the road.

Local contractors will help complete more than 60 percent of the work, which ranges from replacing old, inefficient boilers that provide heat for facilities to caulking, weatherstripping and sealing building doors, windows and seams. During peak construction, MPHA and Honeywell anticipate that nearly 250 tradespeople will be employed as part of the program. In addition, the housing authority and Honeywell will provide residents with opportunities to serve as paid educators and ambassadors, helping other residents understand and utilize the energysaving strategies tied to this initiative.

All the improvements are expected to be finished by late 2010.

“This program gives MPHA a way to address its aging infrastructure and reduce its environmental footprint — without increasing operating budgets,” said Paul Orzeske, president of Honeywell Building Solutions. “These efforts not only benefit the housing authority and its residents, but make a positive impact on the community as a whole.”

Honeywell is a global leader in energy and environmental services, working with organizations to conserve energy, optimize building operations and leverage renewable energy sources. The company has helped almost 30 public housing authorities improve their facilities while reducing energy consumption and costs. Currently, Honeywell is under contract to deliver more than $170 million in guaranteed savings to housing authorities across the United States.

MPHA, the largest affordable rental housing provider in Minnesota, hopes to achieve Energy Star® accreditation — the national mark of excellence in energy efficiency and performance — from the U.S. Environmental Protection Agency and Department of Energy as a result of the improvements. It would be one of the first in the public housing industry to receive this accreditation.

About MPHA

The Minneapolis Public Housing Authority (MPHA) owns and manages 5,875 public housing rental units throughout the city including 41 highrise apartment buildings, 753 scatteredsite (singlefamily) homes and 184 town home units in the Glendale community near the University of Minnesota. The agency administers approximately 5,000 Section 8/HCV rental assistance vouchers, and operates two home ownership programs for both public housing and Section 8 program residents. The federal government rates MPHA’s public housing and Section 8/HCV programs both as national “High Performers” for overall operational performance. The ninemember board of commissioners is appointed by the mayor and city council and the Executive Director is Cora McCorvey. For more information, please visit: www.mphaonline.com

About Honeywell

Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com. Honeywell Building Solutions is part of the Honeywell Automation and Control Solutions business 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 Building Solutions: www.honeywell.com/buildingsolutions.

This release contains certain statements that may be deemed “forwardlooking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forwardlooking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forwardlooking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forwardlooking statements.

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