General

Ingersoll-Rand's PowerWorks® Micrturbines to be Centerpiece of Energy Solutions Alliance with Siemens

Hamilton, Bermuda, September 2002 - Ingersoll-Rand Company Limited (NYSE:IR), a leading diversified industrial firm, today announced that it has formed a strategic alliance with Siemens Building Technologies, Inc., that will provide customers greater choices in the development of comprehensive energy management programs at a time when many companies are beginning to look at energy as a strategic asset rather than a commodity.

The alliance enables Siemens to integrate PowerWorks microturbine-based On-site Generation (OG) solutions of Ingersoll-Rand's Energy Systems business into its Strategic Energy Program offerings to customers. In turn, Ingersoll-Rand will be able to offer its customers the energy management expertise and services of Siemens, including supply-side management, procurement, utility information management, and demand-side optimization.

Siemens will integrate into its energy management services and solutions portfolio the Ingersoll-Rand 70-kilowatt and 250-kilowatt PowerWorks microturbine products to create a new offering -- Microturbine Energy Systems. The combined offerings of the two companies are designed to better meet the energy user's increasing business challenges of controlling energy prices while assuring the quality and reliability of electricity supply.

Recently adapted for end-user applications, Ingersoll-Rand's microturbine technology functions as an on-site, micro-power generation plant that can complement or supplement the user's other sources of power. These systems utilize natural gas or other fossil fuels to produce small-scale electricity in the ranges of 70 kilowatts for a single unit, to three megawatts of capacity with multiple units. Exhaust heat from the microturbine can also be used to produce hot water or steam in a highly efficient combined heat and power (CHP) plant.

"We are excited about a partnership with Siemens which creates an energy-management solution that incorporates the proven technology of PowerWorks microturbines,' said Randy Adleman, president, Ingersoll-Rand Energy Systems. "Through the combined strength of our two companies, more customers will have access to a highly efficient and flexible approach in meeting their on-site generation needs."

Microturbine Energy Systems will be available to customers as a standard Siemens offering and delivered by its 150-branch organization through North America. Each Siemens branch office will then offer its local customers a customized solution that draws on Siemens extensive resources of technical and applications expertise, supply-side and demand-side strategies, and technical support services.

"We are well-positioned to support the launch of Microturbine Energy Systems, and look forward to delivering this innovative technology to customers within the 2002 calendar year."

IR is a leading innovation and solutions provider for the major global markets of Security and Safety, Climate Control, Industrial Solutions and Infrastructure. The company's diverse product portfolio encompasses such leading industrial and commercial brands as Schlage locks and security solutions; Thermo King transport temperature control equipment; Hussmann commercial and retail refrigeration equipment; Bobcat compact equipment; Club Car golf cars and utility vehicles; Torrington bearings and components; PowerWorks microturbines; and Ingersoll-Rand industrial and construction equipment. In addition, IR offers products and services under many more premium brands for customers in industrial and commercial markets. Further information on IR can be found on the company's web site at www.irco.com.

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