Otis Acquires Marshall Elevator

FARMINGTON, Connecticut, July 26, 2011 -

Otis Elevator
Company, a unit of United Technologies Corp. (NYSE: UTX),
announced today that it has acquired Pittsburgh-based Marshall
Elevator company, the largest privately owned and operated
full-service elevator company in Pennsylvania.  The terms of
the acquisition were not disclosed.  Over the past two years,
Otis has grown its service portfolio to over 1.7 million units
worldwide, in part through more than 60 acquisitions.

With a business history in the U.S. dating back to 1818, href="www.marshallelevator.com/about_marshall.asp">Marshall
Elevator is one of the nation’s oldest continuously owned and
operated elevator companies.  In fact, an original Marshall
& Son sales ledger from 1847 documents the sale of early
hoisting machines to various regional businesses.

“Otis is pleased to expand its global presence through a
strategic acquisition effort,” said Otis President Didier
Michaud-Daniel.  ”We are proud to welcome an organization with
a heritage of innovation and customer focus and look forward to the
contributions of our newest employees in the U.S.”

This year alone, Otis has successfully completed 12 acquisitions
including “RSU Number 3,” a city-owned elevator service company in
Saint Petersburg, Russia, and Servis Vyathu, based in the Czech
Republic.  Since 2009, the majority of Otis’ acquisitions have
been Europe-based, with 20 percent based in the U.S. and ten
percent based in Asia.  Last year, Otis’ corporate parent,
United Technologies, spent $2.8 billion on acquisitions.

“We will continue to acquire companies that fit with our
organization, provide opportunities to further service our
customers and deliver value to our stakeholders,” noted href="www.otisworldwide.com/d53-bio-Michaud.html">Otis
President Didier Michaud-Daniel.

Otis Elevator Company is the world’s largest manufacturer and
maintainer of elevators, escalators and moving walkways. With
headquarters in Farmington, Connecticut, Otis employs 60,000
people, offers products and services in more than 200 countries and
territories and maintains over 1.7 million elevators and escalators
worldwide. United Technologies
Corp., based in Hartford, Connecticut, is a diversified company
providing high technology products and services to the building and
aerospace industries.

    Contact:
    --------
    Michele Batty                             Melanie Rener
    Director, Worldwide Communications        PR & Communications Manager
    +1-860-676-5987                           +1-860-676-6219
    michele.batty@otis.com                    melanie.rener@otis.com

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