Rockwell Collins declares regular quarterly dividend on common stock, approves $400 million of additional share repurchase funding

CEDAR RAPIDS, Iowa (April 18, 2005) - The Board of Directors of Rockwell Collins (NYSE: COL) has declared a quarterly dividend of 12 cents per share on its common stock, payable June 6, 2005, to shareowners of record at the close of business on
May 16, 2005.

In a separate action, Rockwell Collins’ Board of Directors also authorized the company to purchase an additional $400 million of Rockwell Collins common stock.  With this announcement, the amount of share repurchases authorized by the company’s Board since the inception of the program in December 2001 now totals $1 billion.  As of the end of the company’s fiscal year 2005 second quarter, the company had repurchased a total of 19.5 million shares for $542 million at an average price per share of $27.77.

“The expansion of our share repurchase program reflects Rockwell Collins’ ongoing commitment to improving shareowner value,” said Rockwell Collins Chairman, President and CEO Clay Jones.  “The strength of our balance sheet and our demonstrated ability to generate strong operating cash flow allow us the flexibility to provide this additional value to shareowners without impacting our ability to continue executing our long-term growth strategies.”

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.

Rockwell Collins is a leader in the design, production and support of communication and aviation electronic solutions for government and commercial customers worldwide. Additional information is available at www.rockwellcollins.com.

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