ITT Corporation

ITT Industries Awarded $73 Million Satellite Instrument Contract

    9/1/1999

            Contract to Support New Generation of Environmental Satellites
    
        WHITE PLAINS, N.Y., Sept. 1 /PRNewswire/ -- ITT Industries'
    Aerospace /Communications Division (A/CD) has won a contract totaling
    approximately $73 million, with possible options and award fees, to develop
    and build an advanced satellite based remote sensing system.  The system
    represents a quantum jump in technology to support the mission requirements of
    a new "converged" U.S. military and civilian environmental satellite system.
    Under a 1994 Presidential directive the current civil Polar Operational
    Environmental Satellites (POES) and Defense Meteorological Satellite Program
    (DMSP) will be converged into the National Polar-Orbiting Operational
    Environmental Satellite System (NPOESS) by 2008.  This award means that the
    United States Air Force, the National Oceanic and Atmospheric Administration
    (NOAA) and NASA will now rely on A/CD's quarter century of on-orbit successes
    with sophisticated meteorological instruments to develop a whole new class of
    sensor for NPOESS.
        Under the terms of the contract ITT Industries and its teammates AER, Ball
    Aerospace, BOMEM, and Boeing will produce three Cross-Track Infrared Sounders
    (CrIS).  The first CrIS unit will be flown on the POESS Preparatory Project
    (NPP) mission, a joint effort between the NPOESS Integrated Program Office and
    NASA.  The NPP mission will provide an early opportunity, beginning in late
    2005, to test and evaluate CrIS prior to the launch of the first operational
    NPOESS spacecraft.  The remaining three CrIS units will be flown on the
    operational NPOESS spacecraft for launch into orbit starting in 2005.  While
    on orbit, CrIS will take measurements of clouds, moisture content, atmospheric
    pressure, surface radiance and temperatures within the earth's atmosphere.
    Using over 1300 spectral channels CrIS will give scientists and weather
    forecasters more precise measurements at more altitudes than any other
    existing system for use by scientists and weather forecasters.  This will
    result in improved five-day weather forecasts and a better understanding of
    the formation of storms and changing weather patterns.
        "We are pleased to have been selected to produce CrIS and proud to be
    developing technologies that help mankind better understand the earth's
    environment," said Pete Regan, Vice President and Director of the Space
    Systems Business Unit at A/CD.  "This contract reflects our significant and
    ongoing investments in developing remote sensing systems and will help provide
    for a seamless transition to a single polar orbiting satellite system."
        ITT Industries-designed Sounders and Imagers are already in orbit onboard
    U.S.  POES and GOES weather satellites and will be in use on European and
    Japanese satellites beginning with the launch of the Japanese MTSAT system
    later this month.  ITT Industries also holds an equity position in the
    commercial earth-imaging firm EarthWatch that is scheduled to launch its
    QuickBird 1 during the first quarter of next year.  The Company will also
    supply sensors for EarthWatch's follow-on spacecraft.
        ITT Industries, Inc. (http://www.ittind.com) (NYSE: IIN) is a global
    engineering and manufacturing company, with leading positions in the markets
    that 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 also 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 provides 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' common stock
    is traded on the Midwest, Pacific, London, Frankfurt, and Paris exchanges.
    
    SOURCE  ITT Industries, Inc.
     
    Web site:  http://www.ittind.com
    CONTACT: Tom Martin, 914-641-6157, tmartin@hq.ittind.com, or John
    Kirkwood, 219-451-6384, both of ITT Industries

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