Maytag CEO Ralph F. Hake Elected to ITT Industries Board of Directors

19.11.2002

ITT Industries, Inc. (NYSE: ITT) Board of Directors named Ralph F. Hake a Director of the corporation. Hake, 53, is the Chairman and Chief Executive Officer of the Maytag Corporation (NYSE: MYG) in Newton, Iowa.

His appointment, which will be effective December 2, 2002, brings the number of ITT Industries board members to ten.

"I'm very pleased that Ralph Hake will be joining our Board of Directors," said Lou Giuliano, ITT Industries' Chairman, President and Chief Executive Officer. "His strong financial background, operations expertise and leadership track record will be highly valued by the board, our management and our shareholders as we move ITT Industries toward becoming a premier multi-industry company."

Prior to being named Chairman and CEO of Maytag in 2001, Hake was Executive Vice President and Chief Financial Officer for Fluor Corporation, the engineering and construction firm. Prior to that, Hake served in a variety of executive positions with appliance maker Whirlpool Corp., eventually becoming Senior Vice President and Chief Financial Officer. He began his professional career at Mead Corporation, where he rose to become Director of Corporate Development.

Hake is a Board Member of the National Association of Manufacturers. He earned his Bachelor's degree at the University of Cincinnati and an MBA at the University of Chicago. He is a U.S. Army Veteran.

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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