ITT Industries Board Elects Steven F. Gaffney to Corporate Vice President

13.02.2003

The Board of Directors of ITT Industries, Inc. (NYSE: ITT) has elected Steven F. Gaffney to Vice President of the corporation. Gaffney is Vice President of the company's Value-Based Six Sigma, developing strategy, policy, objectives and plans to integrate the company's continuous improvement initiative into all of ITT's operations.

He has held this position since October 2002. "Steve's appointment to corporate Vice President reflects the emphasis we place on Value-Based Six Sigma," said Lou Giuliano, Chairman, President and Chief Executive Officer. "Continuous improvement of all our processes is critical if we are to become a premier multi-industry company, and we look to Steve and his team to help us achieve our goal."

Gaffney joined ITT Industries in 1998 as Vice President and Director of Programs at ITT's Avionics division, and was named President of the Division in 2000. The division is part of the companies' defense business, and has several key programs in the electronic warfare sector. Prior to joining ITT, Gaffney was Director of Litton Industries' Integrated Systems business in Woodland Hills, California, after serving in a similar role with AlliedSignal's Government Electronic Systems unit in Teterboro, New Jersey. He spent his early career in a number of progressively responsible positions with Smith Industries' aerospace and defense business in Florham Park, New Jersey. Gaffney holds a BS degree in Electrical Engineering from Lafayette College in Easton, Pennsylvania.

About ITT Industries

ITT Industries, Inc. upplies advanced technology products and services in key markets including: electronic interconnects and switches; defense communication, opto-electronics, information technology and services; fluid and water management and other specialty products. Headquartered in White Plains, NY, the company generated $4.99 billion in 2002 sales. In addition to the New York Stock Exchange, ITT Industries stock is traded on the Midwest, Pacific, London, Paris and Frankfurt exchanges.

CONTACT: Tom Glover of ITT Industries, Inc.: tom.glover@itt.com.

Source: ITT Inc.

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