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Press Release

June 16, 2011

Empire State Building Selects Otis for Major Modernization Project Download a PDF copy

Iconic Landmark to Install Advanced Elevator Systems with Improved Speed, Energy-Efficiency, and Passenger Experience

NEW YORK and FARMINGTON, Conn. (June 16, 2011) – Otis Elevator Company, a unit of United Technologies Corp. (NYSE:UTX), and Empire State Building Company, LLC, owner of the Empire State Building, the world's most famous office building, today announced the awarding of a major contract to Otis to fully refurbish and modernize the building's 68 elevators. As part of this contract, Otis was also awarded a ten year maintenance contract. The elevator upgrade is the final component of the $550 million dollar Empire State ReBuilding renovation and modernization program. Completion of the elevator upgrade and ongoing maintenance by Otis will deliver improved speed, energy efficiency, and passenger experience.

"Otis designed and installed the original elevator system for the Empire State Building and we are thrilled, on the building's 80th anniversary, to have been chosen to help make it one of the most modern and energy efficient office buildings in the world," said Didier Michaud-Daniel, president of Otis Elevator Company. "Throughout its 158 year history, Otis has proven its ability to manage and deliver complex projects like this one. At the Empire State Building, we look forward to applying our expertise to upgrade all 68 elevators in the building and replace existing machines, weighing as much as 26,000 pounds. Otis is proud to be undertaking this modernization project – the largest in our history – in one of the world's most iconic buildings."

The 68 modernized elevators will transport the close to 10 million tenants and office and observatory visitors each year in state-of-the-art, modern equipment. Through the use of Otis' Compass™ Destination Management system and during peak operating periods, the elevators will transport passengers to their destinations up to 20-40% faster than conventional elevators in other modern commercial buildings. Using Otis ReGen™ drives, the modernized elevators will dramatically improve efficiency and the return of regenerated energy back into the building grid, reducing elevator energy usage by as much as 30%.

"The bidding for our project was challenging and rigorous. Otis won as the clear choice through its technological solutions, innovative scheduling, performance guarantee, commitment of executives and personnel, and pricing," said Anthony Malkin, of owner Empire State Building Company. "While we have concluded very significant leasing at our repurposed building, the vast bulk of our new leases are not yet in occupancy. Now is the time to take on this project without disruption to our tenants. Otis' creative approach to minimize disruption through staffing, implementation and scheduling created an impressive and winning result. We are delighted to welcome Otis back to the building and consider them best equipped to deliver the highest level of service to our tenants over the next ten years."

The Empire State Building has achieved worldwide attention for its groundbreaking progress in developing a replicable model for energy efficiency retrofits in existing, built environment in partnership with the Clinton Climate Initiative, Johnson Controls, Jones Lang LaSalle, and the Rocky Mountain Institute (www.esbsustainability.com). Through its partnership with Empire State Building, Otis is further emphasizing its steadfast commitment to working with its customers and suppliers to show them The Way to Green™. The Way to Green is Otis' global environmental program, which spans every aspect of its operations, from design and manufacturing to products and end-of-life recycling. By selecting improved products that reduce energy consumption and offer optimum performance, the modernized elevators in the Empire State Building will demonstrate how older buildings can be as efficient and cutting edge as modern buildings.

About Otis Elevator Company

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 60,000 people globally, offers products and services in more than 200 countries and territories and maintains over 1.7 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.

About the Empire State Building

Soaring 1,454 feet above Midtown Manhattan, the Empire State Building is the "World's Most Famous Office Building." With new investments in infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world. The skyscraper's robust broadcasting technology supports all major television and FM radio stations in the New York metropolitan market. The Empire State Building was named America's favorite building in a poll conducted by the American Institute of Architects. The Empire State Building Observatory is one of the world's most beloved attractions and is the region's #1 tourist destination. For more information on the Empire State Building, please visit www.esbnyc.com, www.facebook.com/empirestatebuilding, or @EmpireStateBldg.

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