ITT Federal Services Forms Saudi Arabian Joint Venture

Colorado Springs, CO Wednesday, October 22, 1997

ITT Federal Services International Corporation, a subsidiary of ITT Federal Services Corporation (ITT FSC), along with the Abdulla Fouad Company, Ltd., and the Tamimi Group announced today they have formed a Saudi Arabian Joint Venture Company named ITT Federal Services Arabia, Ltd.  The commercial registration forming the company was issued in September.  The new company's headquarters will be located in the city of Dammam in the Kingdom of Saudi Arabia.

ITT Federal Services Arabia, Ltd. will combine the expertise and unique work experience of three internationally recognized companies.  Its major focus will be to provide management and technical services for integration, installation, and operations and maintenance of communications, electronic and mechanical systems.  The company will also provide logistics support and facilities maintenance services.  ITT Federal Services Arabia will serve both government and commercial customers in the Kingdom of Saudi Arabia.

ITT FSC, headquartered in Colorado Springs, Colorado, provides management and technical services on a wide range of government contracts with the U.S. Department of Defense, Department of Labor, Department of State and the National Aeronautics and Space Administration.  With over 5,000 employees, ITT FSC operates at 79 locations in the United States and 12 foreign countries.

ITT FSC is a wholly owned subsidiary of ITT Industries.  ITT Industries (http://www.ittind.com) is a leading worldwide-diversified manufacturing company with 1996 sales of $8.4 billion from its three primary business segments:  Automotive, Defense & Electronics and Fluid Technology.  ITT Automotive is one of the largest independent suppliers of systems and components to automotive manufacturers.  ITT Defense & Electronics is a leader in the design, manufacture and support of high technology electronic systems and components for defense and commercial markets.  ITT Fluid Technology is one of the world's leading manufacturers of products, systems and services for the movement, measurement and control of fluids.

In addition to the New York Stock Exchange, ITT Industries' stock is traded under the symbol "IIN" on the Midwest, London, Frankfurt and Paris exchanges.

The Abdulla Fouad Group was formed 50 years ago in Ras Tanura, Saudi Arabia.  From its beginnings as a small construction company, the Group has grown to include diversified activities consisting of manufacturing, engineering, computing, service, real estate, investment and commercial trading.  This group of companies represents one of the most successful ventures in the Gulf Region and is ranked among the top 100 companies within Saudi Arabia. Currently headed by its founder, Sheikh Abdulla Fouad, the Abdulla Fouad Group is headquartered in Dammam, Saudi Arabia, with regional sales and service locations throughout the Kingdom of Saudi Arabia and a network of procurement offices in the United States, Europe and Asia.  Sheikh Abdulla Fouad is the Chairman of the Board of Directors of ITT Federal Services Arabia, Ltd.

The Tamimi Group of companies, also one of the top 100 companies in Saudi Arabia, was founded in 1953 by the late Sheikh Ali A. Tamimi and is wholly owned by the Tamimi family.  The founder's four sons manage this group of companies.  With over 7,000 employees throughout the Kingdom, the Tamimi Group specializes in engineering and construction, life support, catering, operations and maintenance services, supermarkets, food services, luxury hotels, laundries, insurance, fabrication of industrial insulation materials, blending of oils and chemicals for the petroleum industry, and the development and application of corrosion inhibiting thermoplastic coatings and related processes.

ITT Federal Services Arabia, Ltd. has commenced operations and is actively pursuing business opportunities throughout the Kingdom of Saudi Arabia.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the energy, transportation and industrial 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. Founded in 1920, 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 2013 revenues of $2.5 billion. For more information, visit www.itt.com.

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