Honeywell Reaches Agreement to Sell Security Printing Services to M&F Worldwide for $800 Million; Proceeds from Sale of Non-Core Novar Businesses In-Line with Prior Expectations

SPS is the second of two non-core businesses that were part of theNovar acquisition to be sold by Honeywell. Last month, Honeywellannounced a definitive agreement to sell the other non-core business,Indalex Aluminum Solutions (IAS). Both transactions are expected toclose following regulatory review and the satisfaction of othercustomary conditions.

"The final step of the Novar acquisition will be complete upon thesale of SPS and IAS and proceeds are expected to be in line with ourpreviously stated expectations," said Dave Cote, Honeywell Chairmanand CEO. "The integration of the core Novar Intelligent BuildingSystems (IBS) into our Automation and Control Solutions (ACS) businesscontinues to progress smoothly and performance has been terrific. Inthe third quarter, Novar IBS contributed more than $300 million insales to ACS."

"The Novar transaction, from its inception through integration anddivestiture activities, shows that our new acquisition process has astrong execution focus and is a successful component of Honeywell'sgrowth strategy."

Honeywell completed its acquisition of Novar plc, which includedIBS, SPS and IAS, on March 31, 2005. At that time, Honeywell announcedits plans to divest both IAS and SPS within a year.

SPS is a leading provider of check and check-related products andservices and of direct marketing services to financial institutions,businesses and consumers in the United States. M&F Worldwide Corp. isa holding company that, through its wholly owned subsidiary, MafcoWorldwide Corporation, produces licorice extracts and a variety ofnatural botanical products.

Honeywell International is a $26 billion diversified technologyand manufacturing leader, serving customers worldwide with aerospaceproducts and services; control technologies for buildings, homes andindustry; automotive products; turbochargers; and specialty materials.Based in Morris Township, N.J., Honeywell's shares are traded on theNew York, London, Chicago and Pacific Stock Exchanges. It is one ofthe 30 stocks that make up the Dow Jones Industrial Average and isalso a component of the Standard & Poor's 500 Index. For additionalinformation, please visit www.honeywell.com.

This release contains forward-looking statements as defined inSection 21E of the Securities Exchange Act of 1934, includingstatements about future business operations, financial performance andmarket conditions. Such forward-looking statements involve risks anduncertainties inherent in business forecasts as further described inour filings under the Securities Exchange Act.