HON Honeywell International Incorporated

    Honeywell International

            Honeywell to Increase Dividend by 10%

Honeywell (NYSE:HON) announced today that its Board of Directors has approved a
10 percent increase in the company's annual dividend, from $0.75 to $0.825 per
share, commencing in the first quarter 2005. The company's last dividend
increase occurred in March 2000. The Board declared a regular quarterly dividend
of $0.20625 per share of the company's common stock, payable on March 10, 2005
to shareowners of record at the close of business on February 18, 2005.

"The strong performance of each of our four strategic business groups has driven
consistent profitability and earnings growth," said Honeywell Chairman and Chief
Executive Officer, Dave Cote. "We are confident in our long-term prospects as
well as in the strength of our balance sheet. Based on these factors, the Board
has agreed that increasing our quarterly dividend by 10% is in line with our
capital redeployment plans and long-term growth objectives."

Honeywell International is a $25 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.

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.


    CONTACT: Honeywell
             Media
             Robert C. Ferris, 973-455-3388
             rob.ferris@honeywell.com
             or
             Investors
             Nicholas Noviello, 973-455-2222
             nicholas.noviello@honeywell.com

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