ITT Industries Names Robert M. Powers Director, Investor Relations

07.01.2003

ITT Industries, Inc. (NYSE: ITT) announced the appointment of Robert M. Powers to the position of Director, Investor Relations. Most recently, Powers was Director, Head of Business Services - Investment Banking Group of Merrill Lynch.

In his new role, Powers will be ITT Industries' key interface with the investment community. He will report to Chief Financial Officer Dave Anderson. Powers replaces Theodore Economou, who was appointed Assistant Treasurer of the corporation.

"Robert's Wall Street experience and his background in corporate finance and operations were critical in our decision to bring him to ITT," Anderson said. "He has knowledge of all of the markets in which we participate, and brings an ability to communicate our multi-industry story to ITT's diverse investment audience. He will be a valuable addition to our well-established Investor Relations program, and will be a key member of our headquarters management team."

Powers began his career with McDonnell Douglas in Mesa, Arizona, where he held a series of senior positions in Manufacturing and Finance. He later joined JP Morgan in fixed income sales and trading before joining Merrill Lynch in 1997. He holds a BA in Economics from the University of California, Irvine, and an MBA from Harvard University.

About ITT Industries

ITT Industries, Inc. (http://www.itt.com) supplies 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 $4.7 billion in 2001 sales. In addition to the New York Stock Exchange, ITT Industries stock is traded on the Midwest, Pacific, London, Paris and Frankfurt exchanges.

Source: ITT Inc.

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