ITT Corporation

ITT Night Vision Wins Major Award in Australia; 1997 Awards Exceed $100 Million

    5/28/1997

        WHITE PLAINS, N.Y., May 28 /PRNewswire/ --- ITT Industries, Inc.
    (NYSE: IIN) announced today that its Defense & Electronics unit has been
    selected as the preferred vendor to supply Generation (Gen) III night fighting
    equipment to the Australian Defense Force (ADF).  The ADF procurement program,
    referred to as "Project NINOX,"  totals approximately $80 million.
        "We're absolutely ecstatic," stated Neil A. Gallagher, ITT Night Vision
    President & General Manager, summarizing the division's reaction to the NINOX
    award.  "The NINOX program affirms our position as a world leader in the night
    vision device industry."
        ITT Night Vision, a division of ITT Industries' Defense & Electronics
    unit, is the leading supplier of Gen III night vision devices for U.S. and
    allied military forces as well as for law enforcement and select consumer
    applications.  It annually produces and delivers more Gen III image
    intensifier tubes than all of its competitors -- worldwide -- combined.
        ITT Night Vision will deliver the following products: night vision goggles
    (NVGs);  night vision goggles with extended range (NVG-ER);  night vision
    goggles for vehicle drivers (NVG-DVR); night weapon sights (NWS); and night
    aiming devices (NAD).  Product deliveries under the base contract will
    commence in early 1998 and continue through 1999.  However, options exist to
    extend the contract beyond 1999.
        ITT Night Vision has worked diligently with the U.S. Government to ensure
    accessibility of Gen III night vision devices to those allied nations approved
    for export.  Such efforts have resulted in both improving the night fighting
    capabilities of American allies and expanding the division's global leadership
    in providing advanced night vision devices.  Earlier this year, ITT Night
    Vision received a $26 million contract to supply Gen III image intensifier
    tubes to Switzerland.
        ITT Night Vision has consistently received the maximum allowable
    percentage of all U.S. Army contracts awarded for image intensification
    devices for over a decade.  In 1996, the division won 100% of the U.S. Army's
    OMNIBUS IV night vision procurement, which totaled $239 Million.  OMNIBUS IV
    was the first night vision contract that the U.S. Army had awarded to a single
    supplier (sole source) since 1988, when it awarded the MINIBUS contract for
    aviator night vision systems to ITT Night Vision.
        The Night Vision win supports ITT Defense & Electronics' strategic goal to
    grow its international defense business.  In 1996, the unit's international
    defense sales increased by 15% marking the fourth straight year of double
    digit growth in international sales.  Recent wins include a $55 million
    contract from the Republic of Korea Air Force to provide the AN/ALQ-165
    Airborne Self-Protection Jammer for their F-16 fighter program, and the
    selection as a joint venture partner in the Bowman Program, a $3.2 billion
    tactical communications system for the British Armed Forces and the largest
    tactical communications buy in the world.
        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 and electronics, and fluid technology.
    ITT Automotive is one of the largest independent suppliers of systems and
    components to 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 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.
    
        NOTE TO EDITORS: THIS IS ITT INDUSTRIES (NYSE: IIN) NOT ITT CORPORATION
    (NYSE: ITT).  ANY SHORTHAND REFERENCE TO ITT WILL BE INCORRECT.
        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.
    
    

    CONTACT: Thomas R. Martin of ITT Industries, 914-641-2157; or
    Laurel Holder of ITT Night Vision, 540-362-7374

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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