CARRIER RECEIVES BUSINESS ACCOLADES FOR "EVEREST" PROJECT

LAS VEGAS, NEV., June 13, 2006 – Carrier Corporation was honored by Managing Automation magazine as the winner of its 2nd annual Progressive Manufacturing Awards in the Innovation Mastery category at the Progressive Manufacturing Summit in Las Vegas.

The Managing Automation Progressive Manufacturer of the Year Award recognizes a manufacturer who has mastered multiple technological and business disciplines needed to achieve and sustain a competitive advantage in the global marketplace. Selected by an independent panel of judges from a field of 33 finalists, Carrier was one of seven winners nominated for exemplifying the progressive use of technology to transform manufacturing business models.

Earlier this week, Carrier was also honored by the American Business Awards as a finalist in its Best Overall Company category for the fourth annual "Stevie" Awards. Hailed as "the business world's own Oscars" by the New York Post (April 27, 2005), The Stevie Awards are the only national, all-encompassing business awards program honoring great performances in the workplace.

Carrier was honored by both organizations for its Everest Project, carried out by the team at Carrier Residential, North America. The Everest Project involved the complete redesign of its air conditioning split systems product line, consisting of Stock Keeping Units (SKUs) under its 9 major brands. The redesign and repackaging of Carrier's product line was successfully completed in a short span of 18 months. This represents one of the largest investments in Carrier's history and the most comprehensive redesign project in the history of Carrier Residential Systems.

Winning the Progressive Manufacturing Award in the Innovation Mastery category reflects the company's dedication to product innovation, which is the cornerstone of Carrier's strategy and success in the HVAC industry. The redesign of its cooling platform is a significant step in strengthening this cornerstone and is one step closer towards achieving Carrier's long term business goals.

"We are excited and grateful to be recognized by these prestigious award organizations. This project was appropriately named 'Everest' as it represents one of the largest investments and most comprehensive redesign projects in Carrier's history," said Rick Roetken, Director of Marketing for Carrier Residential & Light Commercial Systems, Carrier Corporation.

"We are leading the industry by providing customers with the broadest line of products to meet new energy efficiency standards. Above all, these recognitions are a testament to Carrier's forward-thinking strategy, to support great design with the right resources and translate it into business success," said Roetken.

About The Progressive Manufacturing Awards

Managing Automation's annual Progressive Manufacturing Awards recognizes the most distinguished projects and strategic initiatives in the manufacturing industry. Finalists in seven categories were selected by a panel of independent judges consisting of manufacturing industry experts. Winners were announced in the June issue of Managing Automation and honored at an awards ceremony June 11-13 in Las Vegas, Nevada. Additional information about these awards is available by visiting http://www.managingautomation.com.

About The Stevie Awards

Hailed as "the business world's own Oscars" by the New York Post (April 27, 2005), Stevie Awards are conferred in three programs: The American Business Awards, The International Business Awards, and The Stevie Awards for Women Entrepreneurs. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at http://www.stevieawards.com.

About Carrier Corporation

Carrier Corporation is the world's largest manufacturer of heating, air conditioning and refrigeration systems and equipment. It is a subsidiary of United Technologies Corporation (NYSE:UTX), provider of a broad range of high–technology products and support services to the aerospace and building systems industries.