Honeywell Grants License for Patented Display Technology to Toshiba Corp. and Toshiba Matsushita Display Technology Co. Ltd.; Technology Increases Brightness of Images on LCDs

Business Wire, Oct 11, 2005

MORRIS TOWNSHIP, N.J. -- Honeywell (NYSE: HON) announced today that it has granted a license authorizing Toshiba Corp. and Toshiba Matsushita Display Technology Co. Ltd. (TMD) to use a patented Honeywell technology relating to certain liquid crystal display (LCD) products.

The patented technology increases the brightness of images and reduces the appearance of certain interference effects on LCDs. Terms of the agreement were not disclosed.

LCDs are widely used in products such as desktop PC monitors, notebook computers, mobile phones, personal digital assistants, portable DVD players, portable LCD TVs, video game systems, camcorders, digital still cameras, and a variety of other industrial and consumer products.

"We welcome Toshiba and TMD to our licensing program and are pleased that they and their customers and users will benefit from Honeywell's technology," said Loria Yeadon, CEO of Honeywell Intellectual Properties Inc.

The Toshiba/TMD agreement provides a license to use technology protected by U.S. Patent No. 5,280,371 -- the "'371 patent." Honeywell licensed Sharp Corp., Sanyo Electric/SEID and Chunghwa Picture Tubes under the '371 patent earlier this year and LG.Philips LCD, NEC LCD, Chi Mei Optoelectronics, and Samsung Electronics Co. Ltd. in prior years.

In October 2004, Honeywell filed a lawsuit in U.S. District Court for the District of Delaware against 34 electronics companies alleging infringement of the '371 patent. The litigation is pending. "Honeywell has made a very significant investment in technology, and we vigorously defend ourselves against the unlicensed use of our intellectual property. We encourage companies that desire proven technologies, reduced development costs, quicker time to market, and globally recognized brands to explore Honeywell's licensed solutions. Honeywell's IP store is stocked with technology solutions available for licensing, and we are open for business to companies desiring proven technologies, reduced development costs, quicker time to market, and globally recognized brands," said Yeadon.

More information on HIPI is available on the Internet at www.honeywell.com/licensing.> Honeywell International is a $26 billion 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, 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. For additional information, please visit www.honeywell.com.

Based in Tempe, Ariz., Honeywell Intellectual Properties Inc. (HIPI) globally manages Honeywell's intellectual property portfolio and licenses companies worldwide under patents, trademarks, proven technologies and other Honeywell intellectual property to help accelerate their business growth.

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.