ITT Corporation

ITT Industries Announces Departure of CFO Heidi Kunz

    7/13/1999

        WHITE PLAINS, N.Y., July 13 /PRNewswire/ -- ITT Industries, Inc.
    (NYSE: IIN) announced today that Heidi Kunz, Executive Vice President and
    Chief Financial Officer, will resign later this month to accept the position
    of Chief Financial Officer and Executive Vice President at Gap Inc.  Kunz
    joined the company in December of 1995 just before ITT Industries became an
    independent company.
        "Heidi Kunz has played a key role in helping us transform ITT Industries
    as a diversified manufacturer over the last three years," said Travis Engen,
    Chairman and Chief Executive of the company.  "She was instrumental in helping
    us achieve our current level of financial flexibility enabled by the
    divestiture of our automotive businesses last year, and the subsequent
    $1.1 billion share repurchase program completed in March.  We wish her
    continued success in her new role at Gap."
        ITT Industries, Inc. (http://www.ittind.com) is a global engineering and
    manufacturing company with leading positions in the markets it serves,
    generating 1998 sales of $4.5 billion.  ITT Industries is the world's largest
    pump manufacturer and also designs systems and services to move and control
    water and other fluids. The company is a major supplier of sophisticated
    military defense systems, and provides advanced technical and operational
    services to a broad range of government agencies.   ITT Industries also
    produces connectors, switches and cabling used in telecommunications,
    computing, aerospace and industrial applications, as well as network services.
    Further, ITT Industries makes industrial components for a number of other
    markets, including transportation, construction and aerospace. Based in White
    Plains, NY, ITT Industries employs approximately 33,000 people around the
    world.
    
        NOTE TO EDITORS: "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 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, or
    tglover@hq.ittind.com

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