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Honeywell Receives European Commission Approval to Acquire Sperian Protection

MORRIS TOWNSHIP, N.J., Aug. 5 /PRNewswire-FirstCall/ -- Honeywell (NYSE: HON) today announced it has received approval from the European Commission for its pending all cash tender offer to acquire the shares of Sperian Protection for euro 117 (dividend attached) per Sperian Protection share, which opened on July 12, 2010.

The completion of the offer only remains subject to the successful tender by Sperian's shareholders of shares representing no less than 57% of the fully diluted number of shares (including the stakes of shareholders Essilor and Mrs. Ginette Dalloz which shares are expected to be acquired by Honeywell on August 9, 2010 in accordance with the previously announced Share Purchase Agreement).

Honeywell expects the public offer to close on September 2, 2010, with settlement for tendered shares to be made on September 15, 2010.

Sperian Protection is a leader in personal protection equipment (PPE) design and manufacturing and will be combined within Honeywell's Automation and Control Solutions' Life Safety business.

The tender offer prospectus (note d'information) cleared by the AMF is available for consultation on the website of the AMF (www.amf-france.org) and of Honeywell (www.honeywell.com/sites/fr) and may be obtained free of charge from:

Deutsche Bank AG

Succursale de Paris

3, avenue de Friedland

75008 Paris

Honeywell Holding France

2, rue de l'Avenir

Zone Industrielle Inova 3000

88150 Thaon-les-Vosges

Lazard Freres Banque

121 boulevard Haussmann

75008 Paris

SOURCE

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