April 15 Tax Deadline Right Around the Corner

PISCATAWAY, N.J., April 3, 2008 /PRNewswire-FirstCall/ -- With the April 15, 2008 tax deadline fast approaching, now is the time for property owners and corporations to calculate their building's energy use and identify tax deductions.

The U.S. Internal Revenue Service (IRS) announced that commercial property owners can potentially enjoy significant tax deductions by making their buildings more energy efficient. In its notice, the IRS also officially accepted Trane's TRACE 700(TM) software for certifying energy savings.

Trane's TRACE 700 software is the first of four programs accepted by the U.S. Internal Revenue Service for energy savings certification, which enables building owners to translate energy savings into tax deductions.

The commercial building deduction, enacted in the Energy Policy Act of 2005, allows taxpayers to deduct the cost of energy-efficient property installed in commercial buildings. Buildings that achieve a 50 percent energy savings target can deduct up to $1.80 per square foot of building floor area. Buildings below the 50 percent threshold may still qualify for a deduction of up to 60 cents per square foot of floor space, if they meet a 16.67 percent energy savings target for heating, ventilation and air conditioning (HVAC) equipment.

"No matter what kind of HVAC system a building uses, it's to the owner's or leaseholder's advantage to run the TRACE 700 software to see what kind of savings they might be able to collect at tax season," said Matt Biesterveld, marketing manager, customer direct service network. "The financial savings achieved through a commercial building deduction are likely to have a significant impact on a company's bottom line."

The TRACE program is an analytic tool for building system designers. It enables them to optimize the building, system and equipment designs on the basis of energy utilization and life-cycle costs. TRACE assesses the energy and economic impact of building renovation or system retrofit projects.

TRACE is used to validate green buildings through the U.S. Green Building Council's Leadership for Environmental and Energy Design (LEED). Trane also uses TRACE as a part of the Clinton Climate Initiative (CCI), in the detailed audit phase of Energy Services Performance Contracts. CCI is a global effort to reduce greenhouse gas emissions in cities. Trane is a CCI inaugural Energy Services Company.

Consult with your tax advisor to determine how this tax benefit may help your business.

Trane Inc. NYSE: TT provides heating, ventilation and air conditioning (HVAC) systems and services that enhance the quality and comfort of the air in homes and buildings around the world. The company offers customers a broad range of energy-efficient HVAC systems; dehumidifying and air cleaning products; service and parts support; advanced building controls; and financing solutions. The company's HVAC systems and services have leading positions in premium commercial, residential, institutional and industrial markets; a reputation for reliability, high quality and product innovation; and a powerful distribution network. Trane's 2007 annual revenues were approximately $7.45 billion and the company has about 29,600 employees worldwide. For more information, visit these Web sites: www.trane.com and www.americanstandardair.com.

On Feb. 1, 2007, Trane, then known as American Standard Companies and traded on the New York Stock Exchange (NYSE) under the symbol "ASD," announced plans to separate its three businesses. On July 31, 2007, the company completed the spinoff of its Vehicle Control Systems business as an independent company known as WABCO NYSE: WBC. On Oct. 31, 2007, the company sold its Bath and Kitchen business to funds advised by Bain Capital Partners, LLC. On Nov. 28, 2007, the company changed its name to Trane to reflect its focus on its remaining business, Air Conditioning Systems and Services. On Dec. 17, 2007, Trane announced that it had entered into an agreement to be acquired by Ingersoll-Rand Company Limited NYSE: IR. The agreement is expected to be finalized in the second quarter of 2008.