ITT Corporation

Night Vision Facilities Expansion Doubles Production Capacity; Increase in International Business Drives Major Capital Investment

    9/26/1997

        ROANOKE, Va., Sept. 26 /PRNewswire/ -- ITT Night Vision, a unit of ITT
    Industries' Defense & Electronics subsidiary, has announced a $20 million
    facilities expansion that will effectively double the company's production
    levels by late 1999.
        Prompted by a 1997 surge in international orders for night vision
    equipment, the expansion will enable ITT Night Vision to successfully meet its
    growing customer requirements.
        "We believe the advances in image intensifier technology and the
    subsequent new generations of night vision devices will lead to an expansion
    of their use both domestically and globally,"  stated Neil A. Gallagher, ITT
    Night Vision president & general manager.  "This significant capital
    investment underscores that belief about our future growth and our long-term
    commitment to this market."
        "This has been a phenomenal year," Gallagher continued.  "Our reputation
    as the leading supplier of night vision devices to the U.S. military has
    contributed significantly to our success in winning major programs in
    Switzerland and Australia during 1997."
        The expansion, which is now underway, will include new construction as
    well as renovation and upgrading of existing facilities.  New construction is
    scheduled for completion in Spring 1998 with internal renovations continuing
    into Fall 1999.
        Initial construction efforts will involve additions to the "exhaust"
    operations where key components are sealed under vacuum to form the image
    intensifier tube -- the heart of the night vision goggles produced by the
    Division.  New engineering and administrative offices also will be added.
    Renovations will include remodeling of vacated office space to allow expansion
    of other key manufacturing operations.
        ITT Night Vision, a unit of ITT Defense & Electronics, 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 Defense & Electronics, headquartered in McLean, VA,  is a business
    segment of ITT Industries (NYSE: IIN).  It is a leading supplier of high-
    technology commercial and defense electronic systems, semiconductors, standard
    and customized connectors, and operations and maintenance services, with
    customers in avionics, data communications, information systems,
    military/space and transportation.
        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 & 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 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 Night Vision
    
    

    CONTACT: Sandra Coan of ITT Night Vision, 540-362-7311; or Thomas
    Martin of ITT Industries, 914-641-2157

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

Media

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

MEDIA