Honeywell International Inc 30 January 2006 Not for release, publication or distribution in or into Australia, Canada, Japan or the United States January 30, 2006 HONEYWELL INTERNATIONAL INC. INCREASED OFFER EXTENSION AND POSTING OF INCREASED OFFER DOCUMENTATION TO FIRST TECHNOLOGY SHAREHOLDERS Extension of Increased Offer Further to the announcement made on January 24, 2006 of the revision of the terms of Honeywell's cash offer for First Technology (the "Offer") made by UBS on behalf of Honeywell Acquisitions II pursuant to an offer document dated January 16, 2006 (the "Offer Document") to 385 pence in cash per First Technology Share (the "Increased Offer"), UBS announces that the Offer (as so increased) is being extended to and shall remain open for acceptance until February 27, 2006, subject to the terms and conditions set out in the Offer Document and set out or referred to in the increased offer document dated January 27, 2006 (the "Increased Offer Document"). Posting of Increased Offer Document The Increased Offer Document was posted to First Technology Shareholders (other than Overseas Shareholders) on January 27, 2006, together with the Form of Acceptance. Save where the context otherwise requires, terms defined or referred to in the Increased Offer Document have the same meanings in this announcement. To accept the Increased Offer in respect of First Technology Shares, the Form of Acceptance should be completed, signed and returned or an electronic acceptance made, in accordance with the instructions set out or referred to in the Increased Offer Document and the Form of Acceptance, so as to be received or settle as soon as possible and, in any event, by no later than 3.00 p.m. (London time) on February 27, 2006. Under the terms of the Original Offer, acceptances of the Original Offer are deemed to be acceptances of the Increased Offer. Accordingly, First Technology Shareholders who have validly accepted and not validly withdrawn their acceptances of the Original Offer will be entitled to receive the consideration payable under the Increased Offer in the event that the Increased Offer becomes wholly unconditional and need therefore take no further action. Copies of the Increased Offer Document and the Original Offer Document can be viewed (otherwise than by persons in or from Australia, Canada, Japan and the United States) at the following website: http://clients.ctn.co.uk/honeywell/. Copies of the Increased Offer Document and the Original Offer Document may be obtained from Sarah Gestetner at Citigate Dewe Rogerson at the following address: 3 London Wall Buildings, London Wall, London EC2M 5SY, tel: +44 (0) 20 7282-2920. Acceptance levels, interests in First Technology Shares and irrevocable undertakings to accept the Increased Offer Aggregating holdings acquired through market purchases of and the exercise of options to acquire First Technology Shares, First Technology Shares subject to the irrevocable undertakings to accept the Increased Offer, unexercised options to acquire First Technology Shares that are not subject to the irrevocable undertakings to accept the Increased Offer and acceptances of the Increased Offer received as at 3.00 p.m. (London time) on January 27, 2006 as referred to below, Honeywell Acquisitions II has acquired or contracted to acquire a total of 26,762,727 First Technology Shares representing in aggregate approximately 35.5 per cent. of First Technology's existing issued share capital. As at 3.00 p.m. (London time) on January 27, 2006, Honeywell Acquisitions II had received valid acceptances of the Increased Offer in respect of a total of 4,674,845 First Technology Shares representing approximately 6.2 per cent. of First Technology's existing issued share capital. The level of acceptances of the Increased Offer referred to above includes acceptances received pursuant to irrevocable undertakings to accept the Increased Offer from the holders of a total of 3,584,923 First Technology Shares representing in aggregate approximately 4.8 per cent. of First Technology's existing issued share capital. The acceptances of the Increased Offer referred to above may be counted towards the acceptance condition to which the Increased Offer is subject. None of the acceptances of the Increased Offer referred to above were received from persons acting in concert with Honeywell. Following market purchases made on January 16, 2006, the announcement of the grant of call options on January 24, 2006 and the partial exercise of such options on January 25, 2006, Honeywell Acquisitions II holds: • 7,477,121 First Technology Shares representing approximately 9.9 per cent. of First Technology's existing issued share capital; and • options to acquire 6,482,452 First Technology Shares representing approximately 8.6 per cent. of First Technology's existing issued share capital, representing, in aggregate, 13,959,573 First Technology Shares representing approximately 18.5 per cent. of First Technology's existing issued share capital. 6,382,452 First Technology Shares that are the subject of the options referred to above are also the subject of irrevocable undertakings referred to below from First Technology Shareholders to accept the Increased Offer, such number of options representing approximately 8.5 per cent. of First Technology's existing issued share capital. Following the exercise of options on January 25, 2006 as referred to above, Honeywell Acquisitions II now has irrevocable undertakings (as adjusted for the exercise of options over those First Technology Shares which are also subject to irrevocable undertakings) to accept the Increased Offer from the holders of a total of 18,095,684 First Technology Shares representing approximately 24.0 per cent. of First Technology's existing issued share capital. Save as referred to in this announcement, the Increased Offer Document or the Original Offer Document, neither Honeywell Acquisitions II nor any person acting in concert with Honeywell Acquisitions II, had an interest in or a right to subscribe for relevant securities of First Technology or had any short position (whether conditional or absolute and whether in the money or otherwise), including any short position under a derivative, any agreement to sell or any delivery obligation or right to require another person to purchase or take delivery of any relevant securities of First Technology and neither Honeywell Acquisitions II nor any person acting in concert with Honeywell Acquisitions II had borrowed or lent relevant securities of First Technology, save for any borrowed First Technology Shares which have been either on-lent or sold. Enquiries UBS Investment Bank Tel: +44 (0) 20 7567-8000 (Financial adviser and broker to Honeywell) Aidan Clegg Hugo Robinson Citigate Dewe Rogerson Tel: +44 (0) 20 7282-2920 (Public relations adviser to Honeywell) Sarah Gestetner This announcement does not constitute an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of an offer to buy or subscribe for any securities pursuant to the Increased Offer or otherwise. The Increased Offer is being made solely by the Increased Offer Document, the Original Offer Document and the Form of Acceptance accompanying the Increased Offer Document which contains or refers to the full terms and conditions of the Increased Offer including details of how the Increased Offer may be accepted. The Increased Offer Document, the Original Offer Document and Form of Acceptance are being made available to those First Technology Shareholders who are able to receive them, as a result of the laws of the jurisdictions in which they are resident. First Technology Shareholders should read the Increased Offer Document, the Original Offer Document and Form of Acceptance (if they are able to receive them) as they contain important information. The Increased Offer is not being made, directly or indirectly, in or into or by use of the mails or any other means or instrumentality (including, without limitation, telephonic or electronic) of interstate or foreign commerce of, or any facility of a national, state or other securities exchange of, Australia, Canada, Japan or the United States, and the Increased Offer will not be capable of acceptance by any such use, means, instrumentality or facility or from within Australia, Canada, Japan or the United States. Accordingly, copies of formal documentation relating to the Increased Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed in or into or from Australia, Canada, Japan or the United States and persons receiving this announcement (including custodians, nominees and trustees) must not distribute or send them into or from Australia, Canada, Japan or the United States. Doing so may render invalid any related purported acceptance of the Increased Offer. In the event that Honeywell Acquisitions II extends the Increased Offer in the US at some future time, it will do so in satisfaction of the procedural and filing requirements of the US securities laws at that time, to the extent applicable thereto. UBS Limited ("UBS" or "UBS Investment Bank") is acting for Honeywell and Honeywell Acquisitions II in connection with the Increased Offer and no one else and will not be responsible to anyone other than Honeywell or Honeywell Acquisitions II for providing the protections afforded to customers of UBS or for providing advice in relation to the Increased Offer. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in any such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions. This information is provided by RNS The company news service from the London Stock Exchange