RNS Number:6667N
United Technologies Corporation
17 July 2003


Not for release, publication or distribution in, into or from Australia, Canada
or Japan


                                                                    17 July 2003

                        United Technologies Corporation

                      Recommended Cash Offer for Chubb plc

                          Level of Acceptances update


United Technologies Corporation announces that, as at 3.00 p.m. on 16 July 2003,
valid acceptances of the Offer had been received in respect of 337,128,917 Chubb
Shares representing approximately 40.66 per cent. of the existing issued share
capital of Chubb.

Prior to the commencement of the Offer Period on 16 April 2003, UTC held 500,000
Chubb Shares, representing approximately 0.06 per cent. of the existing issued
share capital of Chubb.  During the Offer Period, the Offeror has acquired or
agreed to acquire, in aggregate 82,570,990 Chubb Shares, representing
approximately 9.96 per cent of the existing issued share capital of Chubb.
Accordingly, as at 3.00 p.m. (London time) on 16 July 2003, the Offeror had
acquired or agreed to acquire, or received valid acceptances under the Offer in
respect of, in aggregate 420,199,907 Chubb Shares, representing approximately
50.68 per cent. of the existing issued share capital of Chubb.

Prior to the announcement of the Offer on 11 June 2003, the Offeror had received
irrevocable undertakings to accept (or procure the acceptance of) the Offer from
the Chubb Directors in respect of their entire beneficial holdings of, in
aggregate, 101,538 Chubb Shares, representing in aggregate approximately 0.01
per cent. of the existing issued share capital of Chubb. Valid acceptances have
been received in respect of all the Chubb Shares subject to the irrevocable
undertakings and are included in the total number of valid acceptances referred
to above.

Save as disclosed in this announcement or the Offer Document, neither UTC nor
the Offeror, nor any persons acting or deemed to be acting in concert with UTC
or the Offeror, held any Chubb Shares (or rights over any Chubb Shares) prior to
the Offer Period and neither UTC nor the Offeror nor any persons acting or
deemed to be acting in concert with UTC or the Offeror, have acquired or agreed
to acquire any Chubb Shares (or rights over any Chubb Shares) since the
commencement of the Offer Period.

As set out in the announcement on 10 July 2003, the Offer has been extended and
will remain open for acceptance until 3.00 p.m. (London time) on 28 July 2003.

Forms of Acceptance not yet returned should be completed and returned in
accordance with the instructions set out in the Offer Document and in the Form
of Acceptance so as to be received as soon as possible and, in any event, by not
later than 3.00 p.m. (London time) on 28 July 2003. Any further extensions of
the Offer will be publicly announced by 8.00 a.m. (London time) on the business
day following the day on which the Offer was otherwise due to expire.

Unless the context otherwise requires, defined terms used in this announcement
shall have the meanings given to them in the Offer Document.


Enquiries:

UBS Investment Bank                 Emma Goodrick          Tel: +44 20 7567 8000
                                    Leanne Gordon-Kagan    Tel: +44 20 7567 8000

JPMorgan                            Mark Breuer            Tel: +44 20 7777 2000
                                    Edward Banks           Tel: +44 20 7777 2000

Computershare Investor Services                            Tel: 0870 703 0147
(receiving agent)                                          or  +44 870 703 0147 
                                                           if outside the UK)

This announcement does not constitute an offer to sell or an invitation to
purchase any securities or the solicitation of an offer to buy any securities,
pursuant to the Offer or otherwise. The full terms and conditions of the Offer
(including details of how the Offer may be accepted) are set out in the Offer
Document and the Form of Acceptance.

The availability of the Offer to Chubb Shareholders who are not resident in and
citizens of the United Kingdom or the United States may be affected by the laws
of the relevant jurisdictions in which they are located or of which they are
citizens. Such persons should inform themselves of, and observe, any applicable
legal or regulatory requirements of their jurisdictions.

Unless otherwise determined by UTC, the Offer is not being made, directly or
indirectly, in or into Australia, Canada, Japan or any jurisdiction where to do
so would constitute a breach of securities law in that jurisdiction, and the
Offer is not capable of acceptance from or within Australia, Canada, Japan or
any such other jurisdiction. Accordingly, copies of this announcement and any
related documents are not being, and must not be, directly or indirectly, mailed
or otherwise forwarded, distributed or sent in, into or from Australia, Canada,
Japan or any jurisdiction where to do so would constitute a breach of securities
laws in that jurisdiction, and persons receiving this announcement (including
custodians, nominees and trustees) must not mail or otherwise distribute or send
it in, into or from such jurisdictions as doing so may invalidate any purported
acceptance of the Offer.

Each of UBS Limited ("UBS Investment Bank") and J.P. Morgan plc ("JPMorgan") is
acting for UTC and the Offeror and no one else in connection with the Offer and
will not be responsible to anyone other than UTC and the Offeror for providing
the protections offered to clients respectively of UBS Investment Bank and
JPMorgan (as the case may be) nor for providing advice in relation to the Offer.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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