ITT declares third quarter dividend of 17.5 cents per share, up 25 percent

WHITE PLAINS, N.Y. – August 7, 2008 - The Board of Directors of ITT Corporation (NYSE: ITT) today declared a cash dividend of 17.5 cents per share for the third quarter of 2008, an increase of 25 percent compared to the third quarter of last year. This cash dividend will be payable October 1, 2008 to shareholders of record as of August 22, 2008.

About ITT Corporation

ITT Corporation (www.itt.com) is a diversified high-technology engineering and manufacturing company dedicated to creating more livable environments, enabling communications and providing protection and safety. The company plays an important role in vital markets including water and fluids management, global defense and security, and motion and flow control. ITT employs approximately 40,000 people serving customers in more than 50 countries. Headquartered in White Plains, N.Y., the company generated $9 billion in 2007 sales.

Contact:

Thomas Scalera
tel +1 914 641 2030
thomas.scalera@itt.com