ITT Corporation

ITT Industries, Inc. to Purchase Hydro Air Industries, Inc.


        WHITE PLAINS, N.Y., March 4 /PRNewswire/ -- ITT Industries, Inc.
    (NYSE: IIN) announced today that it has signed a preliminary agreement to
    acquire Hydro Air Industries, Inc., a leading producer of jets, fittings and
    accessories for the whirlpool bath, spa, and swimming pool markets.  Terms
    were not disclosed.  The proposed transaction is subject to satisfactory
    completion of due diligence, negotiation of a mutually acceptable definitive
    agreement, customary closing conditions and regulatory approval.
        "We believe the combination of ITT Industries' Marlow Leisure Products
    business and Hydro Air's will create a stronger and more competitive product
    offering, enhanced product design capability, and access to a much larger
    customer base," said Brenda Reichelderfer, president of ITT Industries' fluid
    specialty group.  "This acquisition will allow us for the first time to offer
    complete pump and accessory kits to the whirlpool bath market.  It will also
    allow us to enter the spa market, thus opening up a new channel for our
        The company estimates that the worldwide market size for spa and whirlpool
    bath pumps and accessories is over $400 million per year.  ITT Industries is
    currently the leading supplier of pumps in the $90 million US whirlpool bath
        About ITT Industries
        ITT Industries, Inc. ( is a global industrial
    manufacturing company with leading positions in the markets that it serves,
    generating 1998 global sales of $4.4 billion.  ITT Industries is the world's
    largest producer of pumps and also produces systems and services to move and
    control water and other fluids.  The company is also a leading supplier of
    sophisticated military defense systems, and provides advanced technical and
    operational services to a broad range of government agencies.  ITT Industries
    is a leading provider of 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.
        Certain material presented herein consists of forward-looking statements
    which involve known and unknown risks, uncertainties and other important
    factors that could cause actual results to differ materially from those
    expressed in or implied from such forward-looking statements.  Such factors
    include those set forth in Item 1. Business and Item 7. Management's
    Discussion and Analysis of Financial Condition and Results of Operations --
    Forward-Looking Statements in the ITT Industries, Inc. Form 10-K, Annual
    Report for the fiscal year ended December 31, 1997, and other of its filings
    with the Securities and Exchange Commission.
        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 or  To
    receive releases by fax, call 800-758-5804, extension 110006.
    SOURCE  ITT Industries, Inc.

    Web site:
    Company News On-Call:
    or fax, 800-758-5804, ext. 110006
    CONTACT: Tom Glover of ITT Industries, 914-641-2160

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.


Jason Moss
tel +1 914-641-2030


Laurent Lawrence
tel +1 914-304-1809