Rockwell Collins Announces Share Repurchase Program

CEDAR RAPIDS, Iowa (December 13, 2001) - The Rockwell Collins Board of Directors has announced the approval of a program authorizing the company to purchase up to $200 million of Rockwell Collins common stock.

"Rockwell Collins has a strong balance sheet with a cash position that allows us to initiate a share repurchase program while continuing our focus on supporting our businesses through strategic acquisitions," said Clay Jones, president and CEO of Rockwell Collins. "Furthermore, the current favorable market conditions make this an opportune time to begin our share repurchase program."

The timing and total amount of share repurchases will depend upon market conditions. The repurchases will be made in compliance with, and at such times as permitted by, federal securities law and may be suspended or discontinued at any time.

This news release contains statements relating to future results that are "forward-looking" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties including, but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings.

# # #

530-NR-07