Rockwell International

Nature of business: Multi-industry high technology company Total employees: 79,000 In Orange County: 6,000 Stock listing in The Times: On NYSE “Rockwl” Ticker Symbol: “ROK” Friday’s close: $29.25 One-week change: Up $1.63 Analyst review: “Rockwell has come through the recession very well. The key point in looking forward in that this is a little bit of a different company. Rockwell is still preceived as heavily defense, but the company’s mix is changing with more emphasis being placed on its commercial businesses--especially its factory automation, and heavy vehicle components divisions. So we’re moving into a period where we are going to see better numbers and better results. Rockwell has a fabulous balance sheet, good cash flow and is well-positioned to consider acquisitions to further strenghten its businesses. We have a buy on the stock. I think it’s a good value right now and and the earnings will accelerate. “ --Cai von Rumohr, analyst; Cowen & Co., Boston (Dollar amounts in billions)

‘88 ’89 ’90 ’91 ‘92* Revenue* $11.9 $12.5 $12.4 $11.9 $10.9 Profit* $812 $735 $624 $601 $483

Corporate outlook: “With our aggressive cost containment actions and significant investments in new products and improved productivity, we should see earnings per share growth in 1993 even at the current levels of economic activity. Our goal of double-digit earning per share growth can be achieved if we have continued strengthening in the commercial markets served by our business.” --Donald R. Beall, chairman/CEO RETURN ON INVESTMENT: 5-YEAR SUMMARY DATE

FISCAL YEAR ENDING SEPT. 30 SEPT. 30 SEPT. 30 SEPT. 30 ’88 ’89 ’90 ’91 52-week high $26.88 $25.13 $28.75 $29.25 52-week low $14.25 $18.38 $19.75 $22.38 Book value per share $13.83 $15.53 $17.16 $18.05 Price per share $22.25 $23.38 $24.38 $26.63 Net earnings per share* $3.01 $2.84 $2.53 $2.54 Price-to-earnings ratio 7:1 8:1 10:1 10:1 Avg. return on investor equity 22% 18% 15% 14%

FISCAL YEAR ENDING SEPT. 30 ‘92* 52-week high $28.13 52-week low $22.25 Book value per share $12.40 Price per share $25.25 Net earnings per share* $2.14 Price-to-earnings ratio 12:1 Avg. return on investor equity 17%

* Excludes the one-time charge related to the change in accounting for retiree medical benefits for which the company had a $1,036 billion net loss for 1992. For more information call or write, Rockwell International Corp.: 2201 Seal Beach Blvd., Seal Beach, Calif. 90740. (310) 797-3311