ITT Corporation

ITT Industries' Systems Division Wins $298.4 Million in Defense Contracts

    9/14/1998

        WHITE PLAINS, N.Y., Sept. 14 /PRNewswire/ -- The Systems division of ITT
    Industries, Inc. (NYSE: IIN), acting through its Federal Services Unit, has
    won two military contracts valued at $298.4 million.
        The first is a 10-year, $283.5 million range and base operations and
    maintenance support contract for the U.S. Navy Regional Contracting
    Department, Fleet and Industrial Supply Center, Pearl Harbor, Hawaii.  ITT
    Industries' Systems division will fulfill the contract at the Pacific Missile
    Range Facility (PMRF) located on the island of Kauai, Hawaii.  The PMRF is the
    world's largest instrumented, multi-environment training and testing range.
    It supports a broad spectrum of simultaneous combat environments by seamlessly
    blending subsurface, surface, air and space regimes with a formidable
    electronic warfare capability to present the user with unprecedented realism.
    The Systems division has been providing range support services at PMRF since
    1993.
        In, addition, ITT Industries was awarded a $14.9 million contract from
    U.S. Air Force, Headquarters Air Education and Training Command.  This
    contract provides maintenance of approximately 2,100 trainers used at Keesler
    Trainer Equipment Maintenance and Precision Measurement Equipment Laboratory
    at Keesler Air Force Base in Biloxi, Mississippi.  The equipment includes test
    and weather equipment, control radars, ground radars, meteorological and
    navigation equipment, digital and analog communications, computers, special
    computers, security and space equipment, and combined integrated avionics
    electronic warfare systems.
        ITT Industries' Systems division, headquartered in Colorado Springs,
    Colorado, provides management and technical services on a wide range of
    government contracts with the U.S. Department of Defense, Department of Labor,
    Department of State and the National Aeronautics and Space Administration.
    With over 6,000 employees, the Systems division operates at 90 locations in
    the United States and 12 foreign countries.
        ITT Industries (http://www.ittind.com) is a leading worldwide-diversified
    manufacturing company, with 1997 sales of $8.8 billion in the fluid
    technology, defense, electrical connectors, and automotive components
    industries.  With headquarters in White Plains, New York, USA, the company
    employs approximately 58,000 men and women around the world.  The company
    reported 1997 revenues of $8.8 billion.
        In June of 1998, the company announced an agreement to sell its automotive
    Electrical Systems business to Valeo SA (France) for $1.7 billion.  In July,
    the company announced an agreement to sell its Brake and Chassis business to
    Continental AG (Germany) for $1.93 billion.  These two businesses account for
    approximately $4 billion in annual sales.  The proposed transactions, which
    have received all appropriate regulatory approval, are expected to close late
    in the third quarter 1998.
        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' 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.  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 or fax,
    800-758-5804, ext. 110006
    CONTACT: Tom Glover of ITT Industries, 914-641-2160, or John
    Patanelli of ITT Industries, Systems Division 719-637-5816

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