NEW YORK, December 13, 2006 -– During a meeting with analysts today, United Technologies Corp. (NYSE:UTX) Chairman and CEO George David affirmed the company’s expectation for 2006 earnings per share growth of 18 percent, or earnings per share in the range of $3.68 to $3.69. David also projected 2007 earnings per share growth of 10 to 14 percent, in the $4.05 to $4.20 per share range. The company also affirmed 2006 cash flow from operations less capital expenditures in the range of net income.

“UTC will have another solid year in 2006 with earnings per share up a strong 18 percent,” said David. “Favorable aerospace and commercial construction markets have more than offset weaker North American residential HVAC markets at Carrier and production challenges at Sikorsky. Cash flow from operations less capital expenditures will equal or exceed net income, our usual standard.”

“We expect solid performance again in 2007. Market conditions remain generally favorable worldwide, although the soft residential housing market in North America is a concern. Productivity improvements and restructuring savings, both UTC hallmarks, will also help drive profitability improvements. Commercial aerospace aftermarket volumes should continue growing, although at lower rates than in the last two years as the cycle matures. Commodity costs continue to be a headwind in 2007, but at a lesser rate than in 2006. The strength of the business portfolio combined with management depth and disciplines will continue to deliver strong results,” David continued.

Revenues are expected to increase to $51 billion in 2007 on mid single digit organic growth. Operating profit in all six UTC reporting segments should grow double digits and result in further operating margin expansion. Cash flow from operations less capital expenditures should again equal net income in 2007. Share repurchase is expected to be $1.5 billion for the full year.

References in this release to earnings per share growth are before the cumulative effect of a change in accounting related to the adoption of FASB Interpretation No. 47 (Accounting for Conditional Asset Retirement Obligations) which resulted in a non-cash after tax cumulative impact of $95 million or $0.09 per share and was recorded in fourth quarter 2005 results.

United Technologies Corp., based in Hartford, Connecticut, is a diversified company that provides a broad range of high technology products and support services to the building systems and aerospace industries.

This release is supplemented by presentation materials that are available on UTC's website at www.utc.com, and includes "forward looking statements" concerning expected revenue, earnings, cash flow, share repurchases, restructuring and other matters that are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the health of the global economy; strength of end market demand in building construction and in both the commercial and defense segments of the aerospace industry; fluctuation in commodity prices, interest rates, foreign currency exchange rates, and the impact of weather conditions; and company specific items including the availability and impact of acquisitions; the rate and ability to effectively integrate these acquired businesses; the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies and new products and services; delays and disruption in delivery of materials and services from suppliers; labor disputes; and the outcome of legal proceedings. 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 included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as information included in UTC's Current Reports on Form 8-K.