News Release

For Release: Immediately

Contact: Richard Sachwitz
Parker Instrumentation Group
216/896-3210
rsachwitz@parker.com


Brent Hart
Honeywell
614/850-7926
brent.hart@honeywell.com

Parker and Honeywell Create Alliance

...to Provide Process Industry With Most Advanced System for Sample Analysis

Houston, TX: October 5, 2004 – Two trusted names in the process control industry have joined forces to provide customers with a single-system solution that meets analytical needs. The Instrumentation Products Division of Parker Hannifin Corporation (NYSE: PH) and Honeywell (NYSE: HON) today announced they are teaming to deliver next-generation solutions for process sampling, sensing and analysis.

The alliance combines the Parker IntraFlow(tm) line of surface mount flow control components with Honeywell pressure, temperature and flow transducers, joining mechanical and electronic technologies to make the most comprehensive and advanced flow control system available from a single source in the industry today.

“It’s not uncommon for instrument technicians to spend hours every day riding a bike over acres of process plants to make sure sample systems are working,” says Steve Doe, analytical market manager for Parker’s Instrumentation Products Division. “The Parker-Honeywell teaming arrangement gives plant operators the ability to easily monitor and manage their process sample systems which, according to industry experts, still account for 75 to 80 percent of all process analyzer downtime.”

The alliance helps answer a critical industry need by taking process sampling, sensing and analysis to the next level. “Sample systems simply haven’t kept up with sensor technology,” according to Robert Nickels, business development and technology leader for the Honeywell Sensing and Control industrial business. “By combining our extensive sensing technology and industry-standard connectivity with the Parker modular flow system, we can give users a ‘plug-and-play’ solution that will reduce their total cost of ownership.”

The system supports the ISA (Instrumentation, Systems & Automation)/ANSI (American National Standards Institute) 76.00.02 industry standard for surface mount technology. The New Sampling Sensor Initiative (NeSSI) developed the standard. NeSSI is an industry-driven consortium created to standardize sampling systems to improve the efficiency of process analyzers that measure the quality of output from some of the world’s largest processing plants.

Beyond improving efficiency, productivity and return on assets, the Parker-Honeywell flow control system offers customers the following key benefits:

• Configuration: easy setup and startup
• Control: real-time sample system control
• Connectivity: connect to LAN, analyzer or other higher-level system; and
• Confidence: full diagnostics and reporting capability

“Our teaming agreement with Honeywell will allow our customers the ability to close the loop on process control with pressure, temperature and flow sensing that will relay the health of the system to technicians,” explains Parker Instrumentation Group President Roger Sherrard. “Honeywell and Parker technologies are extremely complementary, and we’ve created a seamless channel that will make it simple for customers to realize that benefit.”

An early user of the system, Michelle Cohn, senior manager of the advanced characterization area in exploratory and fundamental research for UOP LLC, agrees. “The modular flow system from Parker and Honeywell improved the productivity of our skilled staff responsible for developing and delivering new technologies in our labs and pilot plants, “ she explains. “Total project time to install this system was reduced by two-thirds compared to conventional systems and only required half the normal amount of time by our professional staff.”

Under the agreement, leading-edge sample system design and fabrication will be available to customers through an innovative channel to market. For design, customers will have access to Parker IntraFlow Design Pro Software via the Internet. Upon completion of design work, which may include Honeywell and Parker application engineering support, the Parker global distribution network will be the customer’s focal point for order placement.

“We are very excited by the power this agreement with Parker brings to our mutual customers,” said Brad Kautzer, vice president and general manager of the Honeywell Sensing and Control industrial business. “Two trusted names in the industry are making a joint commitment to help customers transition to next-generation process sampling systems.”

About Honeywell

Honeywell International is a $23 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

The Honeywell Automation and Control Solutions (ACS) business group is a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about the Honeywell Sensing and Control business, access www.honeywell.com/sensing.

About Parker

With annual sales exceeding $7 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 48,000 people in 46 countries around the world. Parker has increased its annual dividends paid to shareholders for 48 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at www.parker.com, or its investor information site at www.phstock.com.

The Parker Hannifin Instrumentation Products Division is a leading global designer, manufacturer and distributor of premium quality critical flow components such as tube fittings, valves and custom engineered products for worldwide process instrumentation, ultra-high purity and analytical applications. For more information about our process products and systems, visit www.parker.com/intraflow.

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.