ITT board approves $0.25 per share dividend; increase of 18 percent

Monday, 22 Feb 2010

White Plains, N.Y., February 22, 2010 —The Board of Directors of ITT Corporation (NYSE: ITT) today declared a cash dividend of $0.25 per share for the first quarter of 2010, representing an increase of approximately 18 percent over the previous quarterly dividend.  This cash dividend will be payable on April 1, 2010 to shareholders of record on March 3, 2010.

“We have raised our dividend over each of the past eight years, and we are pleased our strong cash position allows us to return increasing value to our shareholders,” said Steve Loranger, chairman, president and chief executive officer. “At the same time, we continue to make investments in our strategy that we believe will drive premier performance over the long term.”

About ITT Corporation

ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2009 revenue of $10.9 billion. www.itt.com

Press Contact:

Jennifer Schiavone
tel +1 914 641 2160
jennifer.schiavone@itt.com

Investor Contact:

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