ITT wins Tethered Aerostat Radar System Contract from U.S. Air Force

Colorado Springs, CO Friday, July 25, 2008

The U.S. Air Force Air Combat Command's Acquisition Management and Integration Center announced that it has awarded the Tethered Aerostat Radar System (TARS) contract to ITT Corporation (NYSE: ITT). The TARS aerostat mission includes low-level down looking radar counterdrug and air sovereignty surveillance. TARS provides one-of-a-kind radar coverage uniquely suited for its given surveillance mission. The award is for one base year and six one-year options and has a base value of $33.6 million. Work will be performed by ITT Systems Division, headquartered in Colorado Springs, Colo.

ITT will perform contract maintenance and operations support at sites in Virginia, Texas, New Mexico, Arizona, Florida and Puerto Rico. The scope of work includes aerostat and site maintenance and modifications, network operations, depot level support, helium inflation and deflation of tethered aerostats, and supply chain management.

"Continuing our partnership with Air Combat Command is a critical priority for ITT," stated Michael Gulino, president of ITT Systems Division. "The counterdrug and air sovereignty missions are key elements of America's homeland defense, and ITT is proud to take part in them."

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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:
Kristine Burnell
tel +1 719 637 4132
Kristine.Burnell@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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