HONEYWELL CEO TO GIVE REAL "HOME FOR THE HOLIDAYS"
WITH COMPANY VOLUNTEER-BUILT HOUSE FOR YOUNG FAMILY

PHOENIX, DEC. 11, 1998 "Home for the holidays" is an often-used phrase this time of year, calling up images of friends and family gathered together to celebrate old traditions and create new ones. But for one Valley family, that phrase will take on a very special meaning.

Honeywell Chairman and Chief Executive Officer Mike Bonsignore will fly to the Valley Dec. 18 and present what may be the best gift a young family could ever hope for: an actual home for the holidays.

The Vargas family will take ownership of a new house built by Honeywell volunteers during their personal time, a commitment that spanned some 1,950 hours over 10 short weeks since October.

Bonsignore, Honeywell employees and supporters will join the Vargas family in a special ceremony Friday, Dec. 18, at 11:30 a.m. to dedicate the latest Habitat for Humanity house that Honeywell built.

The house is at South Ranch II, a community of 196 Habitat homes when completed, southeast of downtown Phoenix. The street address is 6606 S. 14th Place, just west of 16th Street between Southern Avenue and Baseline Road.

Construction began Oct. 3 and was completed Dec. 12. Employee crews worked each Saturday, framing, roofing, painting, trimming and landscaping.

More than 200 employees from the company’s three Valley business units - Home and Building Control, Industrial Control, and Space and Aviation Control - joined forces with Habitat for Humanity to build affordable homes for low-income families.

Bonsignore, other Honeywell executives, community members and volunteers will present gifts to the new homeowners. Bonsignore will present a unique gift, which will be symbolic of his Italian ancestry and of Honeywell as truly a global company.

Bonsignore is expected to make an announcement about another home build next year. This is the third year Honeywell in the Valley has built a Habitat home. In addition to "sweat equity," Honeywell donates about $50,000 annually for Habitat builds here.

An energy-efficient Honeywell thermostat, which will help the couple save on utility expenses, has been installed in this and many other Habitat homes worldwide.

Honeywell employees have built Habitat homes throughout the nation and the world. Led by Bonsignore, Honeywell employees from around the world came together with community members in Minneapolis to build four Habitat homes in just 12 days.

In 1995, Honeywell established an international partnership with Habitat for Humanity to support the construction of nonprofit homes for low-income families.