HARTFORD, Conn., December 13, 2006 -- 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.