ITT Corporation

Markos I. Tambakeras, President and CEO of Kennametal Inc., Elected to ITT Industries' Board of Directors


    White Plains, New York, July 16, 2001 - ITT Industries, Inc. (NYSE: ITT) today elected Markos I. Tambakeras to its Board of Directors.  Tambakeras is President and Chief Executive Officer of Latrobe, Pennsylvania-based Kennametal Inc.


    â?Markos Tambakeras has a strong background in leading and improving businesses similar to ours, including broad international experience,❠said Lou Giuliano, Chairman, President and Chief Executive Officer of ITT Industries.  â?His expertise in manufacturing and continuous improvement will be a valuable addition to our Board.â


    Mr. Tambakeras took the top job at Kennametal in 1999.  Since that time he has refocused the company on its core metalworking and related engineered products businesses. Prior to joining Kennametal, he served 19 years with Honeywell Inc. in a variety of management positions, ultimately as president of the companyâ?s Industrial Controls unit, a $2.6 billion global business.


    Mr. Tambakeras holds a bachelorâ?s degree in industrial chemistry from the University of Witwatersrand in Johannesburg, South Africa.  He received his MBA in marketing from Loyola Marymount University in Los Angeles, California in 1978.  In addition to the boards of Kennametal and ITT Industries, he is a member of the Executive Committee of the Board of Trustees of the Manufacturers Alliance/MAPI, the Board of Directors of Saint Vincent College, and the Board of the Allegheny Conference.


    ITT Industries, Inc. ( supplies advanced technology products and services in key markets including: electronic interconnects and switches; defense communication, opto-electronics, information technology and services; fluid and water management and specialty products. Headquartered in White Plains, NY, the company generated $4.8 billion in 2000 sales, and employs approximately 42,000 people around the world.

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
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Laurent Lawrence
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