ITT Corporation

ITT Industries Completes Purchase of Kaman Sciences Corporation

    12/30/1997

              New Unit to Be Called 'ITT Systems & Sciences Corporation'
                               Within Defense Business
    
        WHITE PLAINS, N.Y., Dec. 30 /PRNewswire/ -- ITT Industries, Inc.
    (NYSE: IIN) announced today that it has purchased all of the shares of
    Kaman Sciences Corporation for $135 million in cash, thus completing the
    transaction announced on November 14, 1997.  Kaman Sciences Corporation is a
    high-technology services company serving the U.S. military and other
    government agencies, and will now operate as a unit of ITT Industries' Defense
    & Electronics division.  The Kaman business will be renamed "ITT Systems &
    Sciences Corporation" and will keep its headquarters in Colorado Springs,
    Colo.
        "Combining Kaman Sciences' higher-growth information technology and
    engineering services business with our existing operations maintenance and
    technical support unit strengthens our defense division, and ultimately the
    entire ITT Industries portfolio," said Travis Engen, Chairman, President and
    Chief Executive of ITT Industries.  "It's the kind of combination that we
    expect to create value for our shareholders."
        Today's closing follows receipt of U.S. regulatory approval for the
    acquisition.
        "We are now in a position to bring this already successful company into
    our own strong defense business," said Lou Giuliano, President and CEO of ITT
    Defense & Electronics.  "Together, we are a full line supplier of operations
    and maintenance, and high-technology services, and have the size and skills to
    bid on and win larger contracts."
        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 reported 1996 sales of $1.6 billion, and is a subsidiary
    of ITT Industries, Inc.
        ITT Industries, Inc. ( http://www.ittind.com ) is a leading global
    diversified manufacturing company with 1996 sales of $8.4 billion from its
    three primary business segments:  Automotive, Defense & Electronics, and Fluid
    Technology.  ITT Industries' automotive business is one of the world's largest
    independent suppliers of systems and components to automotive manufacturers.
    ITT Fluid Technology is the world's largest pump manufacturer, and a leading
    manufacturer of valves and other products, systems and services for the
    movement 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.
    
        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, Inc.
    
    

    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.
    CONTACT: Tom Glover of ITT Industries, 914-641-2160

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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