ITT Corporation

ITT Industries, Inc. Names Louis J. Giuliano President, Chief Operating Officer

    10/27/1998

         Heidi Kunz, Richard J. Labrecque Elected Executive Vice Presidents;
             Edward W. Williams, Marvin R. Sambur, Gerald Gendron Elected
                              Corporate Vice Presidents
    
        WHITE PLAINS, N.Y., Oct. 27 /PRNewswire/ -- The Board of Directors of
    ITT Industries, Inc. (NYSE: IIN) today announced three key appointments on the
    company's Executive Committee.  Louis J. Giuliano, Senior Vice President of
    ITT Industries, has been elected to the newly created position of President
    and Chief Operating Officer of the corporation.  In his new role, Giuliano
    will manage all operational activities for the $4.4 billion engineering and
    manufacturing company serving the global pump, defense, interconnect and
    specialty industrial markets.  Heidi Kunz, Senior Vice President and Chief
    Financial Officer, has been elected to the position of Executive Vice
    President and Chief Financial Officer, and Richard J. Labrecque, Senior Vice
    President of ITT Industries, has also been elected Executive Vice President of
    ITT Industries.
        "In recent months, we have dramatically transformed ITT Industries, and we
    have emerged with core businesses that are strong platforms for growth.  We
    have a great opportunity to re-deploy significant assets to grow these
    businesses following our recent divestitures," said Travis Engen, ITT
    Industries' chairman and chief executive.  "At the same time, we're committed
    to improving operating performance, something Lou Giuliano has consistently
    accomplished.  Over the years, he has significantly boosted operating income
    and margins in our defense and electronics businesses."
        Prior to his appointment to this position, Giuliano served as Senior Vice
    President of ITT Industries, and President and Chief Executive Officer of ITT
    Industries' Defense and Electronics business.  He joined the company in
    July 1988 as Vice President of ITT Corporation and Vice President - Defense
    Operations at ITT Defense after a 19-year career at AlliedSignal and Bendix.
    He served as President of the Avionics Systems Group of the AlliedSignal
    Aerospace Company.  Prior to that, Giuliano served as Vice President and Group
    Executive of the Bendix Avionics Systems Group.  He also served as Vice
    President and General Manager of the Bendix General Aviation Avionics
    Division.  Earlier in his career, he managed marketing and program management
    organizations in several Bendix divisions.  Giuliano is a graduate of Syracuse
    University with a Bachelor of Science degree in chemistry and a Master of
    Business Administration in marketing.  He is Vice Chairman and a member of the
    Board of Directors of the National Defense Industrial Association and a member
    of the Board of Governors of the Aerospace Industries Association.
        Following her election, Heidi Kunz retains her role as ITT Industries'
    Chief Financial Officer, and assumes all operating responsibilities for the
    company's fluid handling, friction materials and shock absorber businesses
    that were formerly part of the company's automotive unit.  In September, the
    company divested its automotive Electrical Systems and Brake and Chassis
    business units.
        Kunz joined ITT Industries in December 1995, as Senior Vice President and
    Chief Financial Officer.  During her tenure, she has taken a lead role in the
    successful automotive divestitures and the overall transformation of the
    company.  She joined ITT Industries after a 16-year career with General
    Motors, where she attained management responsibilities in corporate and
    international finance.  Following a stint as Treasurer of General Motors of
    Canada, she returned to the US in 1989 as Assistant Treasurer of General
    Motors, and was promoted to Treasurer in 1993, and Vice President in 1994.
    Kunz is a graduate of Georgetown University, and received her Masters of
    Business Administration from Columbia University Graduate School of Business.
    She has been profiled by World Link and the World Economic Forum as one of the
    Global Leaders for Tomorrow.  She is also a member of Columbia Business
    School's Board of Overseers.
        With his election, Richard Labrecque will retain responsibility for ITT
    Industries' worldwide fluid businesses.  Most recently, he has overseen the
    successful integration of Goulds Pumps, following ITT Industries' acquisition
    of Goulds in 1997.  Labrecque joined the company in 1982 as President of the
    Fluid Handling Division and was named General Manager of the ITT Fluid
    Products Group-Worldwide in 1984.  He was elected a corporate Vice President
    in 1985 and, from 1988 until 1995, was President of the ITT Fluid Transfer
    Division.  He was promoted to corporate Senior Vice President, and President
    and CEO of the company's Fluid Technology unit in March 1996.
        Labrecque has spent his entire business career in the machinery industry,
    starting as an apprentice tool and die maker with the General Electric
    Company.  After 12 years with GE's Aircraft Engine Group, he joined Colt
    Industries in 1968, where he was President of the Fairbanks Morse Pump
    Division and, later, President of the Quincy Compressor Division.  Labrecque
    holds a Bachelor of Science degree in electrical engineering from Tufts
    University and a Master of Science degree in Industrial Administration from
    Union College.  He is a member of The Water Academy in Oslo, Norway and the
    Corporate Advisory Board of Eurasia Group.
        In other board action today, Edward W. Williams, Vice President and
    Controller at ITT Industries' defense and electronics unit, was elected Vice
    President and Controller, ITT Industries.  Marvin R. Sambur, President and
    General Manager of ITT Industries' Aerospace/Communications Division, was
    elected Vice President of ITT Industries, and President of ITT Defense, and
    Gerald Gendron, President of the company's Cannon connectors division, was
    elected Vice President, ITT Industries.
        Further, the company announced that Frank Macher, Senior Vice President of
    ITT Industries, and head of the automotive unit, will retire early next year
    following the company's September divestitures.  Macher will be working with
    Heidi Kunz during the coming months to ensure a smooth transition.
        "Frank has done an outstanding job for ITT Industries over the last
    18 months, and we credit him with improving the performance of the automotive
    businesses, and with making sure that employees and our customers were well
    served during the divestiture process," Mr. Engen said.  "We are grateful for
    the extraordinary leadership Frank demonstrated during his tenure with us, and
    wish him every success in his future pursuits."
    
        About ITT Industries
        ITT Industries, Inc. (http://www.ittind.com) is a global industrial
    manufacturing company with leading positions in the markets that it serves,
    generating annual global sales of $4.4 billion.  ITT Industries is the world's
    largest producer of pumps and also produces systems and services to move and
    control water and other fluids.  The company is also a leading supplier of
    sophisticated military defense systems, and provides advanced technical and
    operational services to a broad range of government agencies.  ITT Industries
    is a leading provider of electrical interconnects for cellular telephones,
    aerospace, network communications, "smart cards" for personal data storage,
    and PC cards for laptop computers.  Further, ITT Industries provides
    industrial components for a number of other markets, including transportation,
    construction and aerospace.  Based in White Plains, NY, ITT Industries employs
    approximately 35,000 people around the world.
        In addition to the New York Stock Exchange, ITT Industries' common stock
    is traded under the symbol ("IIN") on the Midwest, Pacific, London, Frankfurt
    and Paris exchanges.
        ITT Industries and its subsidiaries' news releases are available at no
    charge via fax and the Internet.  For ITT Industries news and information on
    the Internet, visit http://www.ittind.com or http://www.prnewswire.com.  To
    receive releases by fax, call 800-758-5804, extension 110006.
    
    SOURCE  ITT Industries, Inc.
    
    

    Web site: http://www.ittind.com
    Company News On-Call: http://www.prnewswire.com/comp/110006.html
    or fax, 800-758-5804, ext. 110006
    CONTACT: Tom Glover of ITT Industries, Inc., 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.

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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