ITT Corporation

ITT Federal Services Forms Saudi Arabian Joint Venture

    10/22/1997

        COLORADO SPRINGS, Colo., Oct. 22 /PRNewswire/ -- ITT Federal Services
    International Corporation, a subsidiary of ITT Federal Services Corporation
    (ITT FSC), along with the Abdulla Fouad Company, Ltd., and the Tamimi Group
    announced today they have formed a Saudi Arabian Joint Venture Company named
    ITT Federal Services Arabia, Ltd.  The commercial registration forming the
    company was issued in September.  The new company's headquarters will be
    located in the city of Dammam in the Kingdom of Saudi Arabia.
        ITT Federal Services Arabia, Ltd. will combine the expertise and unique
    work experience of three internationally recognized companies.  Its major
    focus will be to provide management and technical services for integration,
    installation, and operations and maintenance of communications, electronic and
    mechanical systems.  The company will also provide logistics support and
    facilities maintenance services.  ITT Federal Services Arabia will serve both
    government and commercial customers in the Kingdom of Saudi Arabia.
        ITT FSC, headquartered in Colorado Springs, Colorado, provides management
    and technical services on a wide range of government contracts with the U.S.
    Department of Defense, Department of Labor, Department of State and the
    National Aeronautics and Space Administration.  With over 5,000 employees, ITT
    FSC operates at 79 locations in the United States and 12 foreign countries.
        ITT FSC is a wholly owned subsidiary of ITT Industries.  ITT Industries
    (http://www.ittind.com) is a leading worldwide-diversified manufacturing
    company with 1996 sales of $8.4 billion from its three primary business
    segments:  Automotive, Defense & Electronics and Fluid Technology.  ITT
    Automotive is one of the largest independent suppliers of systems and
    components to automotive manufacturers.  ITT Defense & Electronics is a 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 Midwest, London, Frankfurt and Paris
    exchanges.
        The Abdulla Fouad Group was formed 50 years ago in Ras Tanura, Saudi
    Arabia.  From its beginnings as a small construction company, the Group has
    grown to include diversified activities consisting of manufacturing,
    engineering, computing, service, real estate, investment and commercial
    trading.  This group of companies represents one of the most successful
    ventures in the Gulf Region and is ranked among the top 100 companies within
    Saudi Arabia.  Currently headed by its founder, Sheikh Abdulla Fouad, the
    Abdulla Fouad Group is headquartered in Dammam, Saudi Arabia, with regional
    sales and service locations throughout the Kingdom of Saudi Arabia and a
    network of procurement offices in the United States, Europe and Asia.  Sheikh
    Abdulla Fouad is the Chairman of the Board of Directors of ITT Federal
    Services Arabia, Ltd.
        The Tamimi Group of companies, also one of the top 100 companies in Saudi
    Arabia, was founded in 1953 by the late Sheikh Ali A. Tamimi and is wholly
    owned by the Tamimi family.  The founder's four sons manage this group of
    companies.  With over 7,000 employees throughout the Kingdom, the Tamimi Group
    specializes in engineering and construction, life support, catering,
    operations and maintenance services, supermarkets, food services, luxury
    hotels, laundries, insurance, fabrication of industrial insulation materials,
    blending of oils and chemicals for the petroleum industry, and the development
    and application of corrosion inhibiting thermoplastic coatings and related
    processes.
        ITT Federal Services Arabia, Ltd. has commenced operations and is actively
    pursuing business opportunities throughout the Kingdom of Saudi Arabia.
    
    SOURCE  ITT Federal Services Corporation
    
    

    Web site: http://www.ittind.com
    NOTE TO EDITORS: This is ITT Industries -- NYSE: IIN -- not ITT
    Corporation -- NYSE: ITT. Any shorthand reference to ITT will be
    incorrect. This release and any additional information is also
    available through fax on demand by dialing 800-546-4698.
    CONTACT: Ilse Ramsey of ITT Industries, 719-597-3787

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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