Honeywell and DuPont Announce Joint Venture to Manufacture New Automotive Refrigerant

By Honeywell, PRNE
Wednesday, May 19, 2010

Low-Global-Warming-Potential Alternative Meets New European Environmental Regulations

MORRIS TOWNSHIP, New Jersey and WILMINGTON, Delaware, May 20, 2010 - Honeywell (NYSE: HON) and DuPont (NYSE: DD) today announced a
manufacturing joint venture to produce a new refrigerant for use in
automotive air conditioning systems. The new refrigerant has 99.7 percent
lower global warming potential (GWP) than the current refrigerant.

Under the agreement, DuPont and Honeywell will share financial and
technological resources with the intent to jointly design, construct and
operate a world-scale manufacturing facility for the new refrigerant, known
as HFO-1234yf. The product meets European Union regulatory requirements for
lower GWP refrigerants for automobile air conditioning systems. DuPont and
Honeywell developed the product jointly but will market and sell it

"Through this manufacturing partnership, Honeywell and DuPont will
deliver to the automobile industry this environmentally preferable solution
that meets both operational and regulatory requirements. Globally, consumers
will benefit from this new technology, which reduces greenhouse gas
emissions," said Terrence Hahn, vice president and general manager for
Honeywell's Fluorine Products business. "This complements Honeywell's
significant energy efficiency and environmental solutions portfolio, which is
positioned to deliver efficiency advantages to a wide array of industries
while benefiting the environment."

"The new refrigerant enables the automotive industry to reduce the
environmental footprint of vehicles at significantly lower cost than
alternatives," said Gary W. Spitzer, president - DuPont Chemicals &
Fluoroproducts. "By working together with Honeywell, DuPont is confident
we'll have the winning combination to enable the industry to realize
environmental benefits sooner. DuPont's role in the introduction of
HFO-1234yf is another great example of the innovation DuPont has brought to
the automotive industry for nearly a century."

This venture follows an earlier joint development agreement under which
the two companies developed the product. The joint venture announced today is
designed to provide DuPont and Honeywell with a world-class source of supply
to meet the growing demand faster than would be possible through either
company's individual efforts.

Today's automotive air conditioners use hydrofluorocarbon HFC-134a, which
has a GWP of 1430. The European Union's Mobile Air Conditioning Directive
requires that, starting in 2011, all new vehicle models use a refrigerant
with a GWP below 150, and by 2017, all new automobiles sold in Europe will be
required to use a low-GWP refrigerant. The new refrigerant, developed by
DuPont and Honeywell, has a GWP of 4, which is 97 percent less GWP than the
new regulation requires.

Prior to construction of a world-scale plant, the joint venture will
begin supplying the refrigerant in the fourth quarter of 2011 in time to meet
the European Union regulatory requirement.

Honeywell and DuPont introduced HFO-1234yf to the automotive industry in
2007, and since then, it has undergone extensive testing for safety and
efficacy by independent testing groups such as the SAE International
Cooperative Research Program, in which leading automakers participate.

The SAE testing found the product offers environmental performance
superior to carbon dioxide, an alternative refrigerant, while having "the
lowest risk for use in mobile air conditioning systems in meeting
environmental and consumer needs."

According to industry estimates, there are more than 400 million cars
with air conditioning systems globally, with each system using between one
half and one kilogram of refrigerant. Air conditioning systems using
HFO-1234yf, developed by DuPont and Honeywell, are more energy efficient than
carbon dioxide-based air conditioning systems, particularly at high ambient
temperature conditions.

Honeywell International 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,
, Honeywell's shares are traded on the New York, London, and Chicago
Stock Exchanges.

Honeywell Specialty Materials is a global leader in providing customers
with high-performance specialty materials, including fluorine products;
specialty films and additives; advanced fibers and composites; intermediates;
specialty chemicals; electronic materials and chemicals; and technologies and
materials for petroleum refining.

DuPont - one of the first companies to publicly establish environmental
goals 20 years ago - has broadened its sustainability commitments beyond
internal footprint reduction to include market-driven targets for both
revenue and research and development investment. The goals are tied directly
to business growth, specifically to the development of safer and
environmentally improved new products for key global markets.

DuPont is a science-based products and services company. Founded in 1802,
DuPont puts science to work by creating sustainable solutions essential to a
better, safer, healthier life for people everywhere. Operating in
approximately 80 countries, DuPont offers a wide range of innovative products
and services for markets including agriculture and food; building and
construction; communications; and transportation.

For more information on Honeywell, visit:

For more information on DuPont, visit:

This release contains certain statements that may be deemed
"forward-looking 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 forward-looking 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 forward-looking 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 forward-looking

Rick Straitman, DuPont, +1-302-999-5226, richard.a.straitman at; or Nina Krauss, Honeywell, +1-973-455-4253, nina.krauss at

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