ITT Corporation

ITT Industries (NYSE: IIN) to Buy Kaman Sciences Corporation

    11/14/1997

           $135 Million Purchase Strengthens Defense & Electronics Division
                            in High Growth Services Market
    
        WHITE PLAINS, N.Y., Nov. 14 /PRNewswire/ -- ITT Industries, Inc.
    (NYSE: IIN) announced today its agreement to purchase Kaman Sciences
    Corporation, a high-technology services company serving a broad range of
    government agencies, for $135 million.  The sale is expected to close by
    year-end, subject to customary conditions, including regulatory approval.
        "This acquisition is consistent with ITT Industries' strategy to build
    higher-growth, more predictable, value creating businesses," said Travis
    Engen, Chairman, President & Chief Executive of ITT Industries.  "Kaman
    Sciences has a strong track record and expects double-digit growth in 1997.
    We, in turn, expect this business to enhance our long-term shareholder
    return."
        "Kaman Sciences Corporation is a great match for ITT Defense &
    Electronics," said Lou Giuliano, President and CEO of ITT Defense &
    Electronics.  "It's a solid company and a recognized market leader in the
    information technology services area within the national defense community."
        Giuliano stated that as the U.S. military continues to restructure, an
    increase in outsourcing is expected.
        "ITT Defense & Electronics is already a leading contractor for technical
    and support services to the U.S. government," he said.  "With the acquisition
    of Kaman Sciences' complementary businesses, we will be positioned to
    capitalize on this growing market as a full line supplier of operations and
    maintenance and high-technology services to the government."
        Kaman Sciences Corporation, headquartered in Colorado Springs, CO, is a
    wholly owned subsidiary of Kaman Corporation.  The company employs 1,200
    people and 1997 sales are projected at approximately $150 million.  The
    majority of the company's business is with the Department of Defense and other
    federal government agencies.
        ITT Defense & Electronics is a leading supplier of high technology
    commercial and defense electronic systems, standard and customized connectors,
    and operations and maintenance services, with customers in avionics, data,
    communications, information systems, military, space and transportation.  ITT
    Defense & Electronics employs 14,000 people and reported 1996 sales of
    $1.6 billion.
        ITT Defense & Electronics is a business unit of ITT Industries,
    (http://www.ittind.com), 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 leading independent suppliers of systems and
    components to automotive manufacturers.  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 Industries, Inc.
    
    

    Web site: http://www.ittind.com
    CONTACT: Tom Glover of ITT Industries, 914-641-2160, or Millie
    Rogers, of ITT Defense & Electronics, 703-790-6336
    NOTE TO EDITORS: This is ITT Industries, NYSE: IIN, NOT ITT
    CORPORATION, NYSE: ITT. Any shorthand reference to ITT will be
    incorrect.

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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