Spaceport Systems International L.P. Awarded World's First Commercial Spaceport License

Washington D.C. Thursday, September 19, 1996

The Federal Aviation Administration has awarded the world's first commercial spaceport license to Spaceport Systems International L.P. (SSI) as the operator of the California Spaceport(TM) the first US Commercial Space Launch Center.  The license will permit SSI to provide service to conduct launch site operations for various vehicles up to the 6,000 LB Class Lockheed Martin Launch Vehicle 3.  SSI is a joint venture between the ITT Federal Services Corporation (FSC) and the California Commercial Spaceport, Inc. (CCSI).

The license was presented today by Frank Weaver, deputy administrator, Office of Commercial Space Transportation during the opening of the Aerospace States Association quarterly meeting.  E. George Riedel, vice president of business development and government relations, ITT Defense & Electronics, accepted the license.

"ITT FSC believes that commercial spaceports will make a significant difference because they offer an opportunity to achieve affordable, safe and reliable satellite launch services through streamlined launch facilities and processes," Riedel said.  "This license allows us to increase the international competitiveness of the US space industry."

All future spaceports will be required to complete the licensing regulatory process in order to qualify as safe and reliable nodes of transportation.

On November 28, 1994, ITT Federal Services Corporation and the California Commercial Spaceport, Inc. announced the limited partnership which resulted in the formation of Spaceport Systems International L.P., which operates The California Spaceport.

The California Spaceport uses property leased from the US Government on Vandenberg Air Force Base to provide commercial launch services.  To date, the Spaceport's operational Integrated Processing Facility has processed two satellite payloads.  The Spaceport Launch Facility, currently under construction, will be capable of launching small to medium polar low earth orbit satellites.

ITT Federal Services Corporation is headquartered in Colorado Springs, Colorado and provides management and technical services on a wide range of government contracts with the 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 eleven foreign countries.

Headquartered in McLean, Va., ITT Defense & Electronics is a leading supplier of high technology commercial and defense electronic systems, semiconductors, standard and customized connectors and operations and maintenance services, with customers in avionics, data, communications, information systems, military/space and transportation.

ITT Defense & Electronics is a business unit of ITT Industries (NYSE: IIN), a leading worldwide diversified manufacturing company, with 1995 sales of $8.4 billion from its three primary business segments: automotive, defense & electronics and fluid technology.

In addition to the New York Stock Exchange, ITT Industries' stock is traded under the symbol (IIN) on the Basel, Bern, Frankfurt, Geneva, Lausanne, London, Midwest, Pacific and Paris exchanges.  More detailed information on ITT Industries is available online at http://www.ittind.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.

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