ITT Corporation

ITT Industries Reports Odd Lot Sale/Purchase Program


    ITT Industries Reports Odd Lot Sale/Purchase Program

         Holders of Fewer Than 100 Shares Can Sell Shares or Round Up to 100
        WHITE PLAINS, N.Y., Oct. 23 /PRNewswire/ -- ITT Industries, Inc.
    (NYSE: IIN) today announced that it would begin a program to allow
    shareholders holding fewer than 100 shares of IIN stock the chance to sell
    their shares or purchase additional shares if they prefer to increase their
    holdings to the 100-share level.  The company has approximately 37,000 holders
    of fewer than 100 shares.
        The plan is designed to offer a low-cost alternative to "odd-lot" holders,
    and to save money for ITT Industries.  It offers smaller shareholders a low-
    cost method of selling their shares if they prefer that option, or to purchase
    shares if they would like to round up to an even 100-share account.
        Under the program, to be administered by the Bank of New York,
    shareholders will be charged a flat fee of 75-cents per share for either a
    purchase or sale transaction.  The program is open to all shareholders of
    record as of October 22, 1996.  The deadline for participating in the purchase
    or sale of shares is November 29, 1996.  ITT Industries reserves the right to
    extend, amend or terminate the program at any time.
        ITT Industries is a leading worldwide diversified manufacturing company,
    with 1995 sales of $8.4 billion from its three primary business segments:
    automotive, defense & electronics, and fluid technology.  ITT Automotive is
    one of the world's largest independent suppliers of systems and components to
    automotive manufacturers.  ITT Defense & Electronics is a world leader in the
    design, manufacture and support of high technology electronic systems and
    components for defense and commercial markets.  ITT Fluid Technology, is one
    of the world's leading manufacturers of products, systems and services for the
    movement, measurement, and control of fluids.
        In addition to the New York Stock Exchange, ITT Industries' stock is
    traded under the symbol (IIN) on the Basel, Bern, Frankfurt, Geneva, Lausanne,
    London, Midwest, Pacific, and Paris exchanges.   More detailed information on
    ITT Industries is available on-line at
    SOURCE  ITT Industries, Inc.

    CONTACT: Tom Martin of ITT Industries, 914-641-2157

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and oil and gas markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in a total of approximately 125 countries. The company generated 2016 revenues of $2.4 billion.


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