ITT Corporation

ITT Industries and Kodak Agree to Jointly Develop New Business Opportunities

    4/8/1999

        FORT WAYNE, Ind. and ROCHESTER, N.Y., April 8 /PRNewswire/ -- ITT
    Industries, Inc. (NYSE: IIN) Aerospace/Communications Division (A/CD) and
    Eastman Kodak Company's Commercial & Government Systems (C&GS) unit announced
    today an agreement to jointly pursue worldwide marketing opportunities.
        The objective of this marketing agreement is to provide mutual benefit
    from the complementary capabilities of ITT Industries and Kodak in the design,
    manufacture and operations of space-based electro-optical remote sensing
    systems.  For example, Kodak has well-developed capabilities in the visible
    light range for such sensing systems, while ITT Industries' capabilities are
    strongly developed in the area of infrared sensing.
        Market segments covered under the scope of this agreement include
    commercial and U.S. Government remote sensing systems, as well as space
    exploration systems.
        "We look at this agreement with Kodak as an excellent opportunity to bring
    leading edge technologies into the emerging remote sensing systems
    marketplace, and having our two companies become the preferred suppliers for
    customers worldwide," said Pete Regan, vice president and director, Space
    Systems Business Unit, ITT Industries A/CD.
        "By working together, Kodak and ITT Industries will be able to offer
    customers the highest quality and most cost-effective solutions based upon the
    wide range of our complementary technologies," said David S. Ledgerwood, vice
    president, Kodak C&GS.
        ITT Industries A/CD is a world leader in the design, development and
    production of spaceborne navigation and meteorological satellite payloads.
    Examples include sophisticated geostationary and polar orbiting imaging and
    sounding instruments used by the National Oceanic and Atmospheric
    Administration (NOAA) to track severe weather patterns.  It is a unit of ITT
    Industries, (http://www.ittind.com), a global industrial manufacturing company
    with leading positions in the markets that it serves, generating 1998 global
    sales of $4.5 billion.  Based in White Plains, NY, ITT Industries employs
    approximately 33,000 people around the world.
        Kodak C&GS provides imaging solutions to government agencies and
    commercial customers.  Examples include aerial photography, digital cameras,
    digital imaging systems for commercial imaging satellites, and optical systems
    for land and space telescopes.
    
        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
    CONTACT: Bob Lundquist of Eastman Kodak, 716-253-5790, or
    lundquis@kodak.com; or John Kirkwood of ITT Industries,
    219-451-6384, or jtkirkwo@itt.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.

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