The transaction, which also requires approval from the European Commission, is expected to be completed in the first quarter of 2005. Honeywell previously announced its offer to acquire

Novar on December 13, 2004.

<?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />

Novar, a <?xml:namespace prefix = st1 ns = “urn:schemas-microsoft-com:office:smarttags” />UK listed holding company, operates internationally in three different businesses:

Novar Intelligent Building Systems (IBS) is a global business supplying electrical, electronic and control products and services to building operators, contractors and developers worldwide.

Indalex Aluminum Solutions is one of the world’s largest aluminum extrusion companies with a comprehensive network of plants across North America.

The Security Printing Services division operates a security printing business which handles more than 55 million check orders a year and more than 17 million customer and partner contacts annually on behalf of financial institutions in the United States.