ITT ITT Inc

ITT Corporation (NYSE: ITT) today announced that its Night Vision business was awarded an order from the U.S. Army Research, Development & Engineering Command Acquisition Center for the AN/PVS-14 night vision monocular. This order for ITT�s most versatile night vision unit is valued at $153 million and is the latest under the Omnibus VII contract awarded by the U.S. Army in September 2005. The AN/PVS-14 allows users to adjust the gain control in varying light conditions in both urban and rural settings. These versatile devices can be hand-held, head or weapon mounted, or fitted to a camera. �The Omnibus VII contract has been a pivotal tool for the Army to equip every serving unit with crucial night vision technology in support of night and low-light missions,� said Mike Hayman, president and general manager, ITT Night Vision. �We are pleased to receive this latest order, and are proud to support our nation�s protectors.� ITT has received Omnibus VII orders for more than 300,000 AN/PVS-14 monocular devices, 3,000 AN/PVS-7 goggles and 100,000 associated spare image intensifier tubes. ITT Night Vision (www.nightvision.com) is the world�s leading developer, producer and supplier of Generation (Gen) 3 image intensifier technology for U.S. and allied military forces as well as the homeland security market. ITT has served the U.S. military with premier night vision solutions for nearly 50 years and delivered its one millionth Gen 3 image tube in 2007. 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. Headquartered in White Plains, N.Y., the company ITT employs approximately 40,000 people and 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.