Exhibit 99

UTC REPORTS SECOND QUARTER EPS GROWTH OF 21 PERCENT ON 9 PERCENT HIGHER

SALES; INCREASES 2011 SALES AND EPS OUTLOOK

HARTFORD, Conn., July 20, 2011 – United Technologies Corp. (NYSE:UTX) today reported second quarter 2011 earnings per share of $1.45 and net income attributable to common shareowners of $1.3 billion, up 21 percent and 19 percent, respectively, over the year ago quarter. Sales of $15.1 billion for the quarter were 9 percent above prior year with 6 points of organic growth and 4 points of favorable foreign currency translation, partially offset by 1 point of net divestitures.

Results for the quarter included $0.05 per share of restructuring charges, offset by $0.05 of one-time items. The prior year quarter included a net charge for restructuring and one-time items of $0.12 per share. Before these items, earnings per share increased $0.13 or 10 percent year over year. Foreign currency translation net of currency impact at Pratt & Whitney Canada accounted for $0.06 of the earnings per share increase.

Second quarter segment operating margin at 15.9 percent was 120 basis points higher than prior year. Adjusted for restructuring costs and one-time items, segment operating margin at 15.9 percent was 20 basis points higher than prior year. Research and development costs increased year over year by $67 million to $526 million. Cash flow from operations was $1.3 billion and capital expenditures were $210 million in the quarter.

“For the first time since the second quarter of 2008, all six of our business segments reported organic sales growth in the quarter,” said Louis Chênevert, UTC Chairman & Chief Executive Officer. “More encouragingly, order rates remain strong and in line with expectations across most of the segments including our longer cycle commercial construction related businesses.

“Based on the exceptional first half performance at Carrier, strong order rates, and the weaker than planned U.S. dollar, we are raising the full year earnings per share expectation to a range of $5.35 to $5.45, up from $5.25 to $5.40 previously. We now anticipate 2011 EPS growth of 13 to 15 percent, on sales of $58 billion, up nearly 7 percent over 2010 and above prior expectation of $57 billion,” Chênevert added.

New equipment orders at Otis were up 23 percent over the year ago second quarter including favorable foreign exchange of 8 percentage points. Commercial HVAC new equipment orders at Carrier grew 13 percent including favorable foreign exchange of 4 points. Commercial spares orders

at Pratt & Whitney’s large engine business grew 23 percent and at Hamilton Sundstrand were up 25 percent over the year ago second quarter.

“Cash flow from operations less capital expenditures was below net income attributable to common shareowners for the quarter due to the timing of cash receipts and product shipments. We continue to expect cash flow from operations less capital expenditures to meet or exceed net income attributable to common shareowners for the full year,” Chênevert continued. “With year to date share repurchases at $1.5 billion and acquisitions of $184 million, we now expect share repurchase for the year to be over $2.5 billion, and acquisitions of less than $1.5 billion.”

United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. Additional information, including a webcast, is available on the Internet at http://www.utc.com.

The accompanying tables include information integral to assessing the company’s financial position, operating performance, and cash flow, including a reconciliation of differences between non-GAAP measures used in this release and the comparable financial measures calculated in accordance with generally accepted accounting principles in the United States.

This release contains statements which, to the extent they are not statements of historical or present fact, constitute “forward-looking statements” under the securities laws. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as “believe,” “expect,” “plans,” “strategy,” “prospects,” “estimate,” “project,” “target,” “anticipate,” “will,” “should,” “see,” “guidance,” “confident” and other words of similar meaning in connection with a discussion of future operating or financial performance. These include, among others, statements relating to: future sales, earnings, cash flow, results of operations, uses of cash and other measures of financial performance; the effect of economic conditions in the markets in which we operate and in the United States and globally and any changes therein, including financial market conditions, fluctuation in commodity prices, interest rates and foreign currency exchange rates; levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry; levels of air travel, financial difficulties (including bankruptcy) of commercial airlines; the impact of weather conditions, natural disasters and the financial condition of our customers and suppliers; delays and disruption in delivery of materials and services from suppliers; new business

opportunities; cost reduction efforts and restructuring costs and savings and other consequences thereof; the scope, nature or impact of acquisition and divestiture activity, including integration of acquired businesses into our existing businesses; the development, production and support of advanced technologies and new products and services; the anticipated benefits of diversification and balance of operations across product lines, regions and industries; the impact of the negotiation of collective bargaining agreements, and labor disputes; the outcome of legal proceedings and other contingencies; future repurchases of common stock; future levels of indebtedness and capital and research and development spending; future availability of credit; pension plan assumptions and future contributions; and the effect of changes in tax, environmental and other laws and regulations and political conditions in the United States and other countries in which we operate. All forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information identifying factors that may cause actual results to vary materially from those stated in the forward-looking statements, see our reports on Forms 10-K, 10-Q and 8-K filed with the SEC from time to time, including, but not limited to, the information included in UTC’s Forms 10-K and 10-Q under the headings “Business,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” and in the notes to the financial statements included in UTC’s Forms 10-K and 10-Q.

UTC-IR

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United Technologies Corporation

Condensed Consolidated Statement of Operations

As described on the following pages, consolidated results for the quarters and six months ended June 30, 2011 and 2010 include non-recurring items, restructuring and other costs that management believes should be considered when evaluating the underlying financial performance.

See accompanying Notes to Condensed Consolidated Financial Statements.

United Technologies Corporation

Segment Net Sales and Operating Profit

As described on the following pages, consolidated results for the quarters and six months ended June 30, 2011 and 2010 include non-recurring items, restructuring and other costs that management believes should be considered when evaluating the underlying financial performance.

United Technologies Corporation

Restructuring and Other Costs and Non-Recurring Items

Consolidated operating profit for the quarters and six months ended June 30, 2011 and 2010 includes restructuring and other costs as follows:

Consolidated operating profit and income before income taxes for the quarters and six months ended June 30, 2011 and 2010 include the following non-recurring gains (losses):

Details of the non-recurring items for the quarters and six months ended June 30, 2011 and 2010 above are as follows:

Q2-2011

Sikorsky: Approximately $73 million gain recognized from the contribution of a business into a new venture in the United Arab Emirates.

Q2-2010

Carrier: Approximately $47 million net charge resulting from dispositions associated with Carrier’s ongoing portfolio transformation. Included in this net charge is an approximately $58 million asset impairment charge associated with the disposition of a business, partially offset by an approximately $11 million gain on the sale of another business.

Hamilton Sundstrand: Approximately $28 million of asset impairment charges related primarily to the disposition of an aerospace business as part of Hamilton Sundstrand’s ongoing low cost sourcing initiatives.

Interest expense, net: Favorable pre-tax interest adjustment of approximately $24 million associated with the resolution of an uncertain temporary tax item in the quarter.

The impact of restructuring and other costs and non-recurring items on net income attributable to common shareowners and diluted earnings per share for the quarters and six months ended June 30, 2011 and 2010 is as follows:

The following page provides segment net sales, operating profits and operating profit margins as adjusted for the aforementioned non-recurring items, restructuring and other costs. Management believes these adjusted results more accurately portray the ongoing operational performance and fundamentals of the underlying businesses. The amount and timing of restructuring and other costs and non-recurring activity can vary substantially from period to period with no assurances of comparable activity or amounts being incurred in future periods. These amounts have therefore been adjusted out in the following schedule in order to provide a more representative comparison of current year operating performance to prior year performance.

United Technologies Corporation

Segment Net Sales and Operating Profit Adjusted for Non-Recurring Items, Restructuring and Other Costs (as reflected on the previous page)

United Technologies Corporation

Condensed Consolidated Balance Sheet

See accompanying Notes to Condensed Consolidated Financial Statements.

United Technologies Corporation

Condensed Consolidated Statement of Cash Flows

See accompanying Notes to Condensed Consolidated Financial Statements.

United Technologies Corporation

Free Cash Flow Reconciliation

United Technologies Corporation

Notes to Condensed Consolidated Financial Statements