Rockwell Collins Reports Second Quarter Fiscal Year 2008 Earnings Per Share of $1.03 on Sales of $1.186 Billion; Fiscal Year 2008 Earnings Per Share Guidance Range Increased to $3.95 to $4.05

Business Wire, April 24, 2008

Telephonics Corporation and Rockwell Collins have entered into a teaming agreement to pursue the U.S. Army Vehicle Intercommunications System-Extended (VIS-X) Program. VIS-X represents a family of intercommunications systems and components for military tactical vehicles that will replace the Army's VIC-3 system. The Army recently issued a Request for Proposal for competitive bids. This program could potentially reach $3.5 billion in total revenues for the team. The new system will be forward fit for all new Army vehicles and included as part of various reset programs for vehicles returning from Operation Enduring Freedom and Operation Iraqi Freedom.

The Polish Air Force accepted a Rockwell Collins F-16C Modular Simulated Aircraft Maintenance Trainer (MSAMT) for the training of the aircraft's maintenance personnel. The MSAMT, a system-specific device made up of off-the-shelf hardware, has been developed by Rockwell Collins to provide next generation maintenance training using an immersive and interactive virtual image-based solution. Its design supports classroom-based training for novice and advanced F-16 maintenance personnel. The Polish MSAMT is a derivative of the 24 U.S. Air Force MSAMTs that Rockwell Collins developed and delivered in 2005. This marks the second MSAMT to be delivered to an international customer following last September's delivery of an MSAMT to the Egyptian Air Force. Both international system procurements were under a contract with the U.S. Air Force that also includes a multi-year Contractor Logistics Support package.

Conference Call and Webcast Details:

Rockwell Collins Chairman, President and CEO Clay Jones and Senior Vice President and CFO Patrick Allen will conduct an earnings conference call at 1:00 p.m. Eastern Time on April 24, 2008. Individuals may listen to the call and view management's supporting slide presentation on the Internet at www.rockwellcollins.com. Listeners are encouraged to go to the Investor Relations portion of the web site at least 15 minutes prior to the call to download and install any necessary software. The call will be available for replay on the Internet at www.rockwellcollins.com through May 23, 2008.

Rockwell Collins is a pioneer in the development and deployment of innovative communication and aviation electronic solutions for both commercial and government applications. Our expertise in flight deck avionics, cabin electronics, mission communications, information management and simulation and training is strengthened by 20,000 employees, and a global service and support network that crosses 27 countries. To find out more, please visit www.rockwellcollins.com.

This press release contains statements, including certain projections and business trends, that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the potential impacts of geopolitical events; the financial condition of our customers (including major U.S. airlines); the health of the global economy; the continued recovery of the commercial aerospace industry and the continued support for military transformation and modernization programs; delays related to the award of domestic and international contracts; the potential adverse impact of oil prices on the commercial aerospace industry; the cost of the global war on terrorism on U.S. government military procurement expenditures and program budgets; changes in domestic and foreign government spending, budgetary and trade policies adverse to our businesses; market acceptance of our new and existing technologies, products and services; reliability of and customer satisfaction with our products and services; favorable outcomes on or potential cancellation or restructuring of contracts, orders or program priorities by our customers; customer bankruptcies; recruitment and retention of qualified personnel; risk of a labor strike and its potential impact on results of operations and cash flows as collective bargaining agreements covering over 2,000 manufacturing-related employees expire in May 2008; performance of our suppliers and subcontractors; risks inherent in fixed price contracts, particularly the risk of cost overruns; risk of significant disruption to air travel; our ability to execute to our internal performance plans such as our productivity improvement and cost reduction initiatives; achievement of our acquisition and related integration plans; continuing to maintain our planned effective tax rates; our ability to develop contract compliant systems and products and satisfy our contractual commitments; risk of fines and penalties related to noncompliance with export control regulations; risk of asset impairments; government claims related to our pension plan freeze; our ability to win new business and convert those orders to sales within the fiscal year in accordance with our annual operating plan; and the uncertainties of the outcome of litigation, as well as other risks and uncertainties, including but not limited to those detailed herein and from time to time in our Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof and the company assumes no obligation to update any forward-looking statement.