Carrier and Watsco to Form Distribution JV May 5, 2009

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Carrier Corp. has signed an agreement with Watsco, Inc. to form a joint venture to distribute Carrier, Bryant, Payne, and Totaline residential and light commercial products in the U.S. sunbelt region and selected territories in the Caribbean and Latin America. Carrier will separate its company-operated distribution in the regions and contribute them to the joint venture, named Carrier Enterprises. Watsco will contribute its Carrier distribution entity in the Midwest to the venture. Watsco will own 60% of the venture and Carrier 40%.

The new Carrier Enterprises will have approximately 1400 employees and 110 facilities.

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