OTIS ELEVATOR COMPANY PURSUES GROWTH IN VIETNAM

FARMINGTON, Connecticut, March 12 /PRNewswire/ --

The president of the world's largest elevator company met last week with
government officials and customers in Ho Chi Minh City to explore market
opportunities and to affirm Otis' commitment to growing its operations in
Vietnam. Otis Elevator Company is a unit of United Technologies Corp.
(NYSE:UTX).


"Vietnam has emerged as one of the most promising markets for growth. As
the oldest and largest elevator company in the world, Otis possesses the
global network of knowledge and experience to satisfy the growing demands of
this market," said Otis President Ari Bousbib. "I am pleased to affirm Otis
Elevator Company's commitment to expand and train our workforce, preserve
natural resources with 'green' products and participate as good neighbors in
our local communities in Vietnam."


During the weeklong trip, Bousbib and his senior management team met with
Le Hoang Quan, Chairman of the People's Committee of Ho Chi Minh City, to
exchange views on Vietnam's growth, the government's economic plan and Otis'
commitment in Vietnam. The Otis executive team also met with customers, local
business leaders of multi-national corporations and Otis employees, and
toured Otis installations and job sites.


Otis installed its first elevator in Vietnam in 1929 at the Presidential
Palace in Hanoi and the country's first moving walkway in 2006 at the Big C
Thang Long Supermarket in Hanoi. Earlier this month, four of Otis' flagship
Gen2(R) machine-roomless elevators were put into use at the Phu My Hung
residential tower in Ho Chi Minh City. As a machine-roomless product, the
Gen2 elevator saves space because there is no need for a rooftop machine
room, which allows customers greater flexibility in the building design
phase. Otis' patented flat-belt drive technology on the Gen2 product line
provides a quieter, smoother ride than conventional elevators. The Gen2
system is also environmentally friendly and energy efficient. Its
coated-steel belts and gearless machine do not require lubrication, and its
gearless, permanent-magnet machine uses half the energy of conventional
geared machines.


Otis Elevator Company is the world's largest manufacturer and maintainer
of people-moving products including elevators, escalators and moving
walkways. With headquarters in Farmington, Connecticut, Otis employs 61,000
people, offers products and services in more than 200 countries and
territories and maintains 1.5 million elevators and escalators worldwide.
United Technologies Corp., based in Hartford, Connecticut, is a diversified
company providing high technology products and services to the building and
aerospace industries.


Web site: http://www.otis.com


Otis Elevator Company