ITT Corporation

ITT Fluid Technology Expands Operations in Argentina

    3/31/1997

        MIDLAND PARK, N.J., March 31 /PRNewswire/ -- ITT Fluid Technology
    Corporation, one of ITT Industries' (NYSE: IIN) three core businesses, has
    acquired a 70 percent interest in its long-standing manufacturing licensee and
    distributor in Argentina, Hubermansa S.A. majority ownership of this business,
    which reports annual sales of nearly $10 million, will strengthen ITT Fluid
    Technology's position in this key growth region.
        Hubermansa manufactures and services certain Flygt submersible products
    and markets other ITT fluid management products.
        "With this expansion, we are well positioned to take advantage of the
    promising Mercosur common market, which will continue to help drive
    Argentina's economy," said Richard J. Labrecque, President and CEO of ITT
    Fluid Technology Corp.
        The market for ITT Fluid Technology's products and expertise in the region
    is expected to grow rapidly with Argentina's ongoing investments in
    infrastructure and in the mining sector, Labrecque added.
        ITT Fluid Technology's Flygt division is at the forefront in serving
    municipal water and wastewater treatment facilities, and in providing
    solutions for the mining, construction, quarrying, power generation and
    agricultural sectors.
        Hubermansa S.A. has sold Flygt products in Argentina for more than 40
    years.  The company has been licensed to manufacture Flygt pumps since 1974,
    and for the past four years has also represented ITT A-C Pump, which provides
    fluid products for industrial applications.
        ITT Fluid Technology is active elsewhere in Latin America as well, most
    notably through its operations in Chile, Brazil, Mexico and Colombia.  Fluid
    Technology also maintains more than 100 independent agents throughout the
    continent.
        "This venture with Hubermansa is an important addition to Fluid
    Technology's expanding market base in Latin America, which, together with the
    Asia/Pacific and Eastern Europe/Central Asia regions, represents our most
    significant opportunities for sales and income growth," Labrecque noted.
        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 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 Midwest, Pacific, London, Frankfurt and
    Paris exchanges.
    
    SOURCE  ITT Fluid Technology
    
    

    CONTACT: Bjorn von Euler of ITT Fluid Technology, 201-670-3522,
    fax: 201-444-0742, or e-mail: bvon_euler@fluids.ittind.com

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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