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Steven F. Gaffney Elected ITT Senior VP

ITT Corporation announced today that its Board of Directors has elected Steven F. Gaffney to Senior Vice President of the corporation. Gaffney serves as President of ITT's defense business, a position to which he was appointed in September of 2005. He was elected a vice president of the company in October of 2005.

"Steve Gaffney is a proven leader who has served ITT well in a number of capacities over the years," said Steven R. Loranger, Chairman, President and CEO of ITT. "Under Steve's leadership, our defense business has continued on an impressive growth track; he demonstrates the kind of personal integrity and character that we value highly at ITT and we're proud to have him on our team."

Gaffney served as President of ITT's Defense Systems Division from 2003 until 2005. He 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. He was named corporate vice president and head of Value-Based Six Sigma in October 2002. 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 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

ITT Corporation


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