ITT to sell CAS, Inc. systems engineering and technical advisory services business to Wyle Inc.

MCLEAN, VA, , August 9, 2010 – ITT Corporation (NYSE:ITT) today announced it has signed a definitive agreement to sell CAS, Inc., its systems engineering and technical assistance (SETA) services business, to Wyle for $235 million. The sale is expected to close by the end of this year, subject to customary regulatory approvals.

"We believe this transaction will be good for ITT's customers, employees and shareholders, and will enable both ITT and CAS, Inc. to realize enhanced future growth potential," said Dave Melcher, ITT senior vice president and president of its Defense and Information Solutions business. "As ITT continues our portfolio alignment strategy, the divestiture of CAS, Inc. will allow us to focus on growth in other parts of our business."

CAS, Inc., based in Huntsville, Ala., provides systems engineering and technical assistance for a wide range of military applications, principally to the U.S. Department of Defense and similar or related agencies. CAS, Inc. employs approximately 1,100 people.

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 reported 2009 revenue of $10.9 billion. www.itt.com.

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