ITT ITT Inc

The U.S. Army has completed its First Unit Equipped (FUE) with the ITT Corporation (NYSE:ITT) Enhanced Night Vision Goggle (ENVG), helping the service meet its goal of fielding the first sensor-fused, helmet-mounted monocular. ITT�s ENVG optically combines an image intensification (I2) image and next-generation infrared (IR) image, allowing for improved mobility and situational awareness�through clear target identification (I2) and improved target detection (IR). �As the sole provider of the Army�s Enhanced Night Vision Goggle, we are pleased with this major milestone in equipping our warfighters with high-quality, head-mounted sensor-fused night vision,� said ITT Night Vision�s President & General Manager, Mike Hayman. �Giving the men and women of our military the advantages of two night vision technologies fused into one system for the first time should help preserve their edge on the battlefield.� While I2 and IR technologies have allowed the U.S. military and its allies to own the night for years, both technologies have strengths and limitations. The ENVG combines the strengths of both technologies into one unit, allowing soldiers to complete their missions more effectively, even when confronted by low-light or obscured conditions. The ENVGs have completed a rigorous qualification process to ensure they are ready to be fielded. Following a competitive process, ITT was selected as the sole provider of the Army�s ENVG contract in 2005. The contract has a total potential value of $560 million over the contract life. 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 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, 2006, 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.