UTC Board Authorizes Repurchase Program for 60M Shares

HARTFORD, Conn., Dec. 13 /PRNewswire-FirstCall/ -- United Technologies Corp. (NYSE: UTX) Board of Directors today authorized a share repurchase program for up to 60 million shares worth approximately $4 billion at current prices. The new authorization replaces the previous program, approved in March 2005, which was nearing completion.

The company repurchased $1.18 billion in shares during 2005 and expects 2006 repurchases to total $2 billion.

United Technologies, based in Hartford, Conn., is a Fortune 50, Dow Jones Industrial company that provides high technology products and services to the aerospace and building industries. UTC's businesses include Otis Elevator, Carrier heating and air conditioning, Pratt & Whitney aircraft propulsion, Hamilton Sundstrand aerospace systems, Sikorsky helicopters, UTC Power fuel cells and cogeneration power systems, and UTC Fire & Security services and products.

Contact: Paul Jackson (860) 728-7912 http://www.utc.com/

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