Rockwell Collins expands share repurchase funding by $500 million

CEDAR RAPIDS, Iowa (February 07, 2006) - The Board of Directors of Rockwell Collins (NYSE: COL) today authorized the company to purchase an additional $500 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 $1.5 billion.

"Over the past four years, our strong cash flow has allowed us to make significant investments in future growth, fund our pension plans, and pay shareowner dividends, while at the same time repurchasing nearly $1 billion of our common stock," said Rockwell Collins Senior Vice President and Chief Financial Officer Patrick Allen.  "This additional authorization demonstrates the confidence we have in our ability to generate cash flow that will allow us to execute on all facets of our growth and capital deployment strategy, including enhancing shareowner value through additional share repurchases."

As of February 3, 2006, the company had repurchased a total of 29.1 million shares for $993 million at an average price per share of $34.17.

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 worldwide leader in the design, production, and support of communication and aviation electronics for commercial and government customers. The company's 17,000 employees in 27 countries deliver industry-leading communication, navigation, surveillance, display, flight control, in-flight entertainment, information management, and maintenance, training and simulation solutions. Additional information is available at www.rockwellcollins.com.

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