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RNS9558E

RNS Number:9558E
Transense Technologies PLC
08 November 2004


Transense Technologies plc
08 November 2004


Transense Technologies plc


Worldwide Licensing Agreement with Honeywell - Correction


This announcement replaces the announcement of the Honeywell licensing agreement
released today at 07:01 under RNS number 9503E.


The following sentence was omitted from the end of the first paragraph:

'Under the terms of this agreement Transense will receive a substantial up-front
fee spread over the next three years and a royalty on all sales incorporating
its patented technology.'


All other details remain the same and the full amended version appears below.


Transense Technologies plc


Worldwide Licensing Agreement with Honeywell


Transense Technologies plc is pleased to announce Honeywell International has
entered into a worldwide licensing agreement to use Transense's surface acoustic
wave ('SAW') technology for torque and pressure/temperature sensing systems in
vehicles and aircraft, with certain limitations. This licence is exclusive for
torque sensing in powertrain, transmission and driveline applications in
vehicles. Under the terms of this agreement Transense will receive a
substantial up-front fee spread over the next three years and a royalty on all
sales incorporating its patented technology.


An earlier licensing agreement between Transense and Honeywell granted Honeywell
the right to package SAW devices made by Transense's licensees, Temex and
Tai-Saw, as the sensor component for tyre pressure monitoring systems. This new
agreement widens the scope of that activity, allowing Honeywell to manufacture
complete tyre pressure monitoring systems, as well as torque sensors for either
complete or partial systems for all vehicle torque applications, including
electric power steering.


James Perry, chief executive of Transense, said last night: 'I am delighted that
we have entered into this important licence agreement. It will help satisfy the
rapidly growing demand from vehicle manufacturers and Tier one suppliers for
technologies that measure torque in powertrain applications such as engine
management, transmission control and driveline torque distribution. This is the
successful outcome of the strategy and business model we have followed over the
years to forge partnerships with global manufacturers in fields to which our
technology lends itself. The completion of this agreement is a direct result of
the technical collaboration between our firms. Engineers from both companies
have been working together for more than two years, and their efforts have led
to numerous developments, including the packaging of sensors being used in tyre
pressure measurement systems for other Transense licensees.'