ITT Corporation

ITT Industries' Spaceport Selected For Space Launch

    6/11/1998

        WHITE PLAINS, N.Y., June 11 /PRNewswire/ -- Spaceport Systems
    International (SSI), a limited partnership between ITT Industries (NYSE: IIN)
    and California Commercial Spaceport, Inc. has been selected for the first
    Minotaur space launch.  Under the contract awarded by the U.S. Air Force, SSI
    will provide commercial payload processing, and range and launch site services
    for payloads being developed jointly by the U.S. Air Force Academy and Weber
    State University.  The satellite launch, scheduled for late 1999, will be the
    first launch from SSI's California Spaceport.
        As part of government efforts to use excess cold war assets for research
    and education, the U.S. Air Force is converting and utilizing excess Minuteman
    II launch vehicles for government satellite delivery.  The Minotaur is a
    launch vehicle made up of modified Minuteman Stages I and II mated with
    Pegasus upper stages and avionics.  The Air Force Academy/Weber State
    University satellites, along with several micro-sets, will be the first
    payloads to fly on the converted Minuteman.
         "This contract is a major win for the California Spaceport," said Earl
    Severo, CEO, Spaceport Systems International.  "We will be able to demonstrate
    our ability to integrate and provide affordable, high quality launch services
    while demonstrating reduced cycle times to launch.  This sets the course for a
    full service Spaceport."
        The California Spaceport is located in the southern most corner of
    Vandenberg Air Force Base and is ideally situated to support direct injection
    into a broad range of polar orbit inclinations.  It is one of four launch
    facilities designated as "qualified launch sites" for the converted Minuteman
    II launch vehicle.
        On November 28, 1994, ITT Industries and the California Commercial
    Spaceport, Inc. announced the limited partnership that resulted in the
    formation of Spaceport Systems International L.P.  Since that time, the
    company has focused its efforts to bring commercial space services to the
    central coast of California.
        ITT Industries (http://www.ittind.com) is a leading worldwide diversified
    manufacturing company, with 1997 sales of $8.8 billion in its three primary
    business segments: Automotive, Defense & 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
    the world's leading manufacturer of pumps, systems and services for the
    movement, measurement and control of fluids.  Based in White Plains, NY, the
    company employs more than 58,000 people worldwide.
        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 of ITT Industries, 914-641-2160; or Millie
    Rogers of ITT Defense & Electronics, 703-790-6336; or Earl Severo
    of Spaceport Systems International, 805-733-7370
    Company News On-Call: http://www.prnewswire.com or fax,
    800-758-5804, ext. 110006

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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