ITT Corporation

ITT Industries and CERES Sign Statement of Mutual Endorsement

    2/18/1997

        WHITE PLAINS, N.Y., Feb. 18 /PRNewswire/ -- ITT Industries (NYSE: IIN), a
    diversified global manufacturing company, and CERES (Coalition for  an
    evironmentally Responsible Economies), a national coalition of
    environmentalists and social investors, today announced a joint endorsement of
    each other's environmental principles.  In doing so, ITT Industries became one
    of the largest global manufacturing companies to endorse the principles on a
    worldwide basis.
        Speaking at the joint signing ceremony at ITT Industries' world
    headquarters in White Plains, New York, Travis Engen, chairman, president and
    chief executive officer of ITT Industries said, "This is a proud moment for
    our employees.  It is enormously gratifying to receive the endorsement of our
    environmental mission from CERES, one of the most respected organizations in
    the field.  Our endorsement of the CERES principles represents the culmination
    of our efforts to better define what our company stands for in the area of
    environmental responsibility."
        "We are pleased that ITT Industries has chosen to work with CERES to
    demonstrate its commitment and vision in this critical area of corporate
    social responsibility," said Joan Bavaria, co-chair of CERES.  Bavaria is
    President of the Franklin Research and Development Corporation, a Boston-based
    social investment advisory firm.
        "We are delighted to have a company of the caliber of ITT Industries to
    actively participate in the CERES process," said Bob Massie, executive
    director of CERES.  "The CERES Program is environmentally challenging, and we
    applaud ITT Industries' commitment to endorse the CERES principles for
    environmental protection."
        "Our system of stating our objectives, measuring performance, auditing our
    operations and reporting our progress will help us fulfill our overall goal of
    leadership in the area of environmental responsibility," said Usha Wright,
    vice president of Environment, Safety and Health for the company
        The CERES Principles were introduced in 1989 as the Valdez principles.
    Endorsing companies include General Motors, Bank of America, Bethlehem Steel
    Corporation, Polaroid, Ben and Jerry's and Sun Oil Company.  CERES
    environmental members include the Sierra Club, National Wildlife Federation,
    and the Natural Resources Defense Council.
        CERES has developed a ten-point code of conduct for companies desiring to
    achieve a high standard of public accountability for environmental protection.
    The CERES Principles were designed to encourage voluntary corporate commitment
    to environmental progress.
        The ten CERES Principles are:  Protection of the biosphere, sustainable
    use of natural resources, reduction and disposal of waste, energy
    conservation, risk reduction, safe products and services, environmental
    restoration, informing the public, management commitment, audits and reports.
    CERES companies agree to complete a standardized, annual reporting format that
    is linked directly to the CERES principles.  This provides citizens,
    communities, investors and environmentalists with a consistent, easy-to-follow
    format for assessing a company's environmental progress year-to-year.
        ITT Industries has adopted an environment, safety and health mission which
    reinforces the company's dedication to being a leader in environmental
    protection, human health and safety throughout its global operations.  The
    company's program includes a commitment to eliminate or minimize environmental
    pollution from the conduct of its operations, reducing the creation of waste
    and properly disposing of it, and reducing the consumption of energy and
    natural resources.
        The company began auditing its operations on a global basis in the late
    1980s to ensure progress in its stated environmental goals.  Performance is
    reported regularly to the Environment, Safety and Health Committee, made up of
    representatives from each of the company's business units.  The company has
    established performance measurements in key environmental, safety and health
    areas, and management tracks these continuously in all operating areas.
        ITT Industries (http:\\www.ittind.com) is a leading worldwide diversified
    manufacturing company, with 1996 sales of $8.4 billion dollars 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.
    
        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; Coalition for Environmentally Responsible Economies
    
    

    CONTACT: Tom Martin of ITT Industries, 914-641-2157; or Mark
    Tulay of CERES, 617-451-0927

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.

Investors

Jason Moss
tel +1 914-641-2030
jason.moss@itt.com

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Laurent Lawrence
tel +1 914-304-1809
laurent.lawrence@itt.com

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