Otis Awarded Sixth Tower in Premier Chicago Development

Otis Awarded Sixth Tower in Premier Chicago Development

May 30, 2007

    FARMINGTON, Conn., May 30 /Xinhua-PRNewswire/ -- Otis
Elevator Company, a unit of United Technologies Corp.
(NYSE: UTX), won an $11 million order for Aqua, the latest
high-rise tower under construction as part of Chicago's
premier Lakeshore East community. 

    "We have selected Otis as our primary elevator
supplier, because of the quality of the Otis product and
the responsiveness of its people," said James
Loewenberg, co-chief executive officer, Magellan
Development Group, developer for the project. "Through
our longstanding relationship, we have worked together to
overcome any challenges that have arisen in the new
construction and service sides of the business."

    When completed, the 28-acre, $4 billion Lakeshore East
will consist of 16 high-rise residential buildings, 4,900
residences, 2.2 million square feet of commercial space,
1,500 hotel rooms, a 6-acre public park and an elementary
school.

    Otis has been selected for six of the seven towers that
have been completed or are under construction in the
development. In this latest award, Otis will provide
high-speed, gearless elevators for the 82-story Aqua, which
will be Chicago's first high-rise building designed to
combine condominiums, luxury rental apartments, hotel
suites and retail space.

    "Lakeshore East is one of the most highly
acclaimed developments in Chicago this decade," said
Otis President Ari Bousbib. "Otis is proud that
Magellan Development Group LLC has selected Otis as the
elevator supplier of choice for this ambitious and
visionary mixed-use development."

    Previously, Otis equipment was selected for the
62-story 340 On The Park residence tower; the Tides, a
51-story facility of apartments, garage and retail space;
the Chandler, a 35-story condominium containing 304
residences; the 46-story Shoreham, the first luxury
residential tower completed at Lakeshore East; and the
Regatta, a 44-story residential building.

    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.


    For more information, please contact:

     Tizz Weber, Director
     Communications, Otis Elevator Company
     Tel:   [phone]
     Email: [e-mail]