ITT Partnership Awarded IDIQ Contract for Spaceport Launch Services

Colorado Springs, CO Wednesday, February 10, 2010

Spaceport Systems International (SSI), a limited partnership between ITT Corporation (NYSE: ITT) and California Commercial Spaceport, Inc. has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract to provide spaceport launch services for the U.S. Air Force Space and Missile Systems Center Launch Test Squadron. The maximum potential value of the five-year contract is $48 million and actual revenue from the contract will be dependent upon the services specifically requested by the customer.

The SSI spaceport facility is located in the southern corner of Vandenberg Air Force Base in California and is ideally situated to support west coast polar launches of the Minotaur family of space boosters. It is also one of four launch facilities designated as qualified launch sites for the converted Minuteman II launch vehicle.

In 1994, ITT and the California Commercial Spaceport, Inc. announced the limited partnership that resulted in the formation of Spaceport Systems International L.P. Since that time, the company has focused its efforts to bring commercial space services to the central coast of California.

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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:
B.J. Talley
tel +1 719 637 6375
william.talley@itt.com

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

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.

Press Contact
Kathleen Bark
tel +1 914-641-2103
kathleen.bark@itt.com

Investor Contact
Melissa Trombetta
tel +1 914-641-2030
melissa.trombetta@itt.com

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