ITT Receives Navy and Air Force Order for Smaller, Lighter 16-Millimeter Night Vision Tube

ITT Corporation (NYSE:ITT) today announced that its Night Vision division has received a $14 million order from Annapolis, Md.-based ARINC Incorporated for 16-millimeter image intensifier tubes for two advanced aviation programs. This is the largest single award of 16-mm aviation tubes since the programs entered development in 2003. The tubes will be integrated into the Panoramic Night Vision Goggle (PNVG) and the Quad-Eye—aviation systems that operate with four image tubes rather than the traditional two tubes in order to expand field of view for users. The PNVGs will be used by the U.S. Air Force and Army while the Quad-Eye will serve Navy aviators as part of the Joint Helmet-Mounted Cueing System (JHMCS). ITT Night Vision is the only producer of the 16-mm tube family—the smallest, lightest-weight aviation tube in production. Weighing 25 percent less than the conventional 18-mm tube, the 16-mm tube allows four image tubes to comprise a system without adversely affecting the total weight. By including four direct-view tubes, the field of view is expanded to 95 degrees—an important enabler for aviators. "We are delighted to be the sole provider of image intensifier tubes for these cutting-edge aviation night vision goggles,” said Mike Hayman, president of ITT Night Vision. "By compressing our renowned Generation 3 technology into a smaller and lighter image intensifier tube, we are opening many new capabilities for head-mounted systems, as these quadruple-tube goggles illustrate.” The 16-mm tube also is used in ITT’s Enhanced Night Vision Goggle (ENVG), the first sensor-fused, helmet-mounted monocular to combine infrared and image intensification imagery, produced for the U.S. Army. ITT Night Vision, based in Roanoke, Va., is the world’s leading developer, producer and supplier of Generation 3 image intensifier technology for U.S. and allied military forces, as well as the homeland security market. To learn more, visit www.nightvision.com. 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. Safe Harbor Statement Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 ("the Act"). These forward-looking statements include statements that describe the Company's business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed in, or implied from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated by the Company include general global economic conditions, decline in consumer spending, interest and foreign currency exchange rate fluctuations, availability of commodities, supplies and raw materials, competition, acquisitions or divestitures, changes in government defense budgets, employment and pension matters, contingencies related to actual or alleged environmental contamination, claims and concerns, intellectual property matters, personal injury claims, governmental investigations, tax obligations, and changes in generally accepted accounting principles. Other factors are more thoroughly set forth in Item 1. Business, Item 1A. Risk Factors, and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements in the ITT Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and other of its filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.