Statement on VXX Announcement

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Statement on VXX Announcement

January 28, 2005

  STRATFORD, Connecticut - Sikorsky Aircraft Corporation received word today that its H-92 helicopter was not selected as the next Marine One helicopter. The company anticipates a full debrief on the Navy's evaluation and analysis.

"Sikorsky and our All-American supplier team are disappointed with this outcome. We're honored to have flown U.S. Presidents for nearly half a century and believe we put forward an exceptionally strong proposal to continue this tradition," said Stephen N. Finger, president of Sikorsky Aircraft. "I want to extend my sincere thanks to all who worked so diligently. Everyone at Sikorsky Aircraft, as well as our partner companies across the country, should be proud of their efforts.

"I am confident in the future of the S-92," Mr. Finger added. "Sikorsky is a growing company committed to providing our customers with outstanding quality and value. We are focused on doubling our business by 2008, with a portfolio of products and aftermarket services for military and commercial customers worldwide. We anticipate achieving this goal even absent the VXX."

Published data shows that the S-92, the baseline version of the H-92, flies farther, flies faster and carries more than the EH-101. Independent data confirms that the S-92 is lower in cost and costs less to operate.

The Federal Aviation Administration and the European Aviation Safety Agency have certified the S-92 to a higher standard of safety than virtually every helicopter flying today, including the EH-101. Furthermore, since certification in December 2002, the S-92 and H-92 have won every other competition against the EH-101, including selection by the governments of Canada, Turkey, and Turkmenistan; Gulf Helicopters in Qatar; and CHC, the world's largest offshore oil operator.

Sikorsky Aircraft Corporation, based in Stratford, Conn., is a world leader in helicopter design, manufacturing and service. Sikorsky is a subsidiary of United Technologies Corporation (NYSE:UTX), of Hartford, Conn., which provides a broad range of high-technology products and support services to the aerospace and building systems industries.

This release includes "forward looking statements" concerning expected revenue growth that are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in the forward looking statements include the health of the global economy; strength of demand in both the commercial and defense segments of the aerospace industry; changes in government procurement policies and practices; and fluctuation in interest rates. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information in the "Business" section of UTC's Annual Report on Form 10-K, the information included in UTC's 10-K and 10-Q Reports under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," and the information included in Current Reports on Form 8-K.

Media Contact :

Ed Steadham

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