WHITE PLAINS, N.Y., May 13 /PRNewswire/ -- ITT Industries, Inc.
(NYSE: IIN) today awarded 25 scholarships; 22 college and 3
vocational/technical scholarships, to high school seniors, all children of ITT
Industries employees. Winners, selected on the basis of outstanding academic
achievement and personal accomplishments, were chosen from a group of
applicants from the families of over 24,000 U.S.-based ITT Industries
"As part of our continued commitment to our employees and their families,
we are very pleased to award scholarships to these exceptional students. We
hope the scholarships will provide an opportunity to build on the excellent
work the winners have already demonstrated," said Travis Engen, chairman,
president and chief executive of ITT Industries.
Under the program, the amount of each scholarship is based on the
financial needs of the student recipient in attending the college of his or
her choice. This year, the average renewable scholarship was approximately
"The ITT Industries scholarship program is designed not only to recognize
outstanding academic achievement, but also to help parents meet the growing
cost of a college education," Mr. Engen said. "We are helping these students
who deserve financial aid complete their undergraduate degree in their
preferred area of study," he continued.
The program is administered by an independent organization, the College
Scholarship Service, a division of the Educational Testing Service in
Princeton, NJ. The scholarship recipients were selected by the College
Scholarship Service after a thorough review of the applicants. Children of
members of ITT Industries' board of directors and senior officers of the
corporation are not eligible for scholarships offered under this program.
In the selection process, the College Scholarship Service considered
academic achievement and promise, community service and demonstrated
The typical recipient's parent has worked for the company for
more than 15 years. The parents hold a variety of positions, including:
Designer, Tooling Engineer, Senior Systems Analyst and Machinist.
ITT Industries (http://www.ittind.com) is a leading worldwide diversified
manufacturing company, with 1996 sales of over $8.4 billion from its three
primary business segments: automotive, defense & electronics, and fluid
technology. ITT Industries, through its ITT Automotive unit, is one of the
largest independent suppliers of systems and components of 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 largest 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
ITT Industries and its subsidiaries' press releases are available at no
charge via fax and the Internet. To receive releases by fax, call
800-758-5804, extension 110006. For ITT Industries' news on the Internet,
visit http://www.ittind.com or http://www.prnewswire.com.
SOURCE ITT Industries
CONTACT: Thomas Martin of ITT Industries, 914-641-2157