ITT Corporation

ITT Industries Awarded Army Contract for Night Vision Equipment

    7/1/1998

        WHITE PLAINS, N.Y., July 1 /PRNewswire/ -- ITT Night Vision, a business
    unit of ITT Industries (NYSE: IIN) has received a contract award from the U.S.
    Army Communications Electronics Command (CECOM) to supply Generation (Gen) III
    night vision equipment to the U.S. military for the next two years.  The total
    value of this contract, including all options, is $172 million.
        Deliveries on this contract, referred to as OMNIBUS V, will commence in
    April 1999 and continue through 2001.  Requirements include production and
    delivery of AN/PVS-7D and AN/PVS-14 infantry night vision goggles and spare
    MX-11620 image intensifier tubes.
        "For over a decade now, ITT Night Vision has been delivering high-quality
    Gen III night vision devices to U.S. armed forces," stated Jim Flanary, ITT
    Night Vision President & General Manager.  "We look forward to continuing this
    support of our number-one customer as we enter the next century."
        Under the OMNIBUS IV contract (awarded in 1996), ITT Night Vision already
    has delivered 18,000 high-performance image intensifier tubes and is scheduled
    to deliver another 48,000.  The tube is the "heart," or primary component, of
    every night vision product.  The tube that ITT Night Vision has supplied under
    OMNIBUS IV offers the highest low-light-level performance ever achieved in a
    night vision device.  Under the OMNIBUS V contract (base and options), the
    Company has the potential to deliver another 44,500 of these tubes.
        During 1997, ITT Night Vision won the two largest international contracts
    ever received by the local Division of ITT Defense & Electronics, one of three
    businesses that comprise ITT Industries.   With a combined value of over $100
    million, these contracts - one from Switzerland ($26 million) and one from
    Australia ($80 million) - firmly established ITT Night Vision as the leading
    supplier of Gen III night vision devices worldwide.
        The increase in international business also prompted a $20 million
    expansion to the existing manufacturing facility as well as the hiring of 150
    additional personnel.  This facility expansion will enable ITT Night Vision to
    double its production capacity by the year 2000.
        "Our continued growth in international and commercial/consumer markets,
    combined with this most recent U.S. Army contract award, illustrates our
    commitment to meeting a wide range of night vision requirements around the
    globe," Flanary commented.
        ITT Night Vision is the world's 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 Industries ( http://www.ittind.com ) is a leading worldwide-
    diversified manufacturing company, with 1997 sales of $8.8 billion from its
    three primary business segments: automotive, defense & electronics, and fluid
    technology.  In the automotive area, ITT Industries is one of the largest
    independent suppliers of systems and components to automotive manufacturers.
    ITT Industries' defense & electronics business is a leader in the design,
    manufacture and support of high technology electronic systems and components
    for defense and commercial markets.  ITT Industries' fluid technology business
    is the world's leading manufacturer of pumps, systems and services for the
    movement, measurement, and control of fluids.  Based in White Plains, New
    York, ITT Industries employs more than 58,000 people around the world.
    
        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.
    
    SOURCE  ITT Industries
    
    

    Web site: http://www.ittind.com
    CONTACT: Tom Glover, 914-641-2160, or Laurel Holder,
    540-362-7374, both for ITT Industries

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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