ITT Corporation

ITT Industries Announces Robert Ayers, Richard Hamilton Named to Lead Business Segments

    9/1/1999

        WHITE PLAINS, N.Y., Sept. 1 /PRNewswire/ -- ITT Industries (NYSE: IIN)
    announced today that Robert L. Ayers has been appointed President of its Fluid
    Technology business, and Richard J.M. Hamilton has been appointed as President
    of Specialty Products.  Hamilton's appointment is effective today, and Ayers'
    is effective on October 1.  These changes were brought about by the announced
    retirement of Richard J. Labrecque, who will leave the company at the end of
    the year, and the resignation of Heidi Kunz, who left the company earlier this
    year to become chief financial officer of Gap, Inc.
        Ayers, as President of Fluid Technology, will be responsible for the
    businesses reported as the Pumps and Complementary Products segment.  Hamilton
    will assume the operating responsibilities of the industrial specialty
    businesses and the fluid specialty businesses.  Both Ayers and Hamilton are
    Vice Presidents of ITT Industries.  Headquarters offices for both businesses
    will be in Upper Saddle River, New Jersey.
        "Bob Ayers and Richard Hamilton are superb managers, who will bring great
    strengths to their new assignments," said Louis J. Giuliano, president and
    chief operating officer of ITT Industries, to whom Ayers and Hamilton will
    report.  "At this time I also want to thank Dick Labrecque for his many
    important contributions to the company during his 17-year career here.  He has
    been instrumental in establishing ITT Industries as a world leader in the
    fluid technology field.  We wish him well in his retirement."
        Ayers joined ITT Industries in October of 1998 as President of the
    Industrial Pump Group.  He was previously President of Sulzer Technology
    Corporation, a pump manufacturer in Portland, Oregon.  Ayers is currently
    chairman of The Hydraulic Institute, North America's leading fluid industry
    association.  The Pumps and Complementary Products segment he will lead
    accounted for $1.8 billion in revenues in 1998.  This segment contains ITT
    Industries' pump businesses, including brands such as Flygt, Goulds, Bell &
    Gossett, A-C Pump, Lowara, Richter and Vogel, making ITT Industries the
    world's largest pump producer.  Businesses within this segment also supply
    flow controls, heat exchangers and related products with brands such as
    McDonnell & Miller and ITT Standard in addition to those mentioned above.
    This segment represents approximately 40 percent of the company's sales and
    approximately 38 percent of its operating income.
        Hamilton has been with ITT Industries since the company was created as an
    independent company in 1995, following the breakup of the old ITT Corporation.
    Hamilton joined ITT in 1971, and currently serves as President of the
    Commercial Products Group.  The revenues of the Specialty Products segment he
    will lead were $849 million in 1998. Businesses in the specialty products
    segment produce engineered valves and switches for industrial and aerospace
    applications, products for the marine and leisure markets, fluid handling
    materials such as stainless steel and flexible tubing for various industrial
    markets, and specialty shock absorbers and brake friction materials for the
    transportation industry.  This segment represents approximately 19 percent of
    ITT Industries' sales and approximately 24 percent of its operating income.
        ITT Industries, Inc. (http://www.ittind.com) is a global engineering and
    manufacturing company with leading positions in the markets it serves,
    generating 1998 global sales of $4.5 billion.  ITT Industries is the world's
    premier supplier of pumps, 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.
        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, Inc.
     
    Web site:  http://www.ittind.com
    CONTACT: Tom Martin, 914-641-2157, tmartin@hq.ittind.com, or
    Bjorn von Euler, 201-760-5795, Bvon_euler@fluids.ittind.com, both
    of ITT

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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