ITT to supply rail dampers and shock absorbers to Indian Railways

WHITE PLAINS, N.Y., June 19, 2008 – ITT Corporation (NYSE:ITT) today announced that its Energy Absorption business has received a US$1,000,000 order for KONI™ branded dampers and shock absorbers from Indian Railways. The order makes ITT the largest supplier of energy absorption components for modern rolling rail stock in India. The order calls for more than 3,000 dampers or shock absorbers for Diesel Locomotive Works Varanasi (DLW), Chittaranjan Locomotive Works (CLW) and Rail Coach Factory (RCF) Northern Railway (NR) and Bharat Earth Movers Limited (BEML).

"The considerable expansion of the Indian rail system — in both its freight and passenger segments - has prompted Indian rail companies to rapidly invest in parts, infrastructure and technology," said Pieter Zuiddam, railway division manager for ITT Energy Absorption. "ITT is developing products and technology that are designed to foster the system's continued growth and enable it to meet increasing demand for efficient and reliable service. The contract to provide four major Indian rail companies with state-of-the-art dampers reinforces ITT's position as a leading supplier to one of the world's fastest-growing transportation systems."

The KONI™-branded railway dampers include features such as low friction that prevents metal-to-metal contact and reduces wear and maintenance; reduced noise for greater passenger comfort; and safer, more advanced absorbing technology that meets the rigorous demands and high standards of the Indian railway system.

ITT in India

ITT operates through its fully owned subsidiary, ITT India. The company runs a technology and engineering center in Vadodara, along with administrative offices, to serve all of its commercial businesses in India and globally. The company is currently constructing an assembly and testing facility in Vadodara for pumps that will be used in growing building service, industrial and municipal markets.

"ITT's leading brands are very popular globally and in India," said Sam Yamdagni, managing director of ITT India. "We are well-positioned in growing customer segments including transportation, oil and gas, building services, municipal water and wastewater, thermal and nuclear power, steel, paper, utility and aquaculture. ITT has established sales offices and is continuously expanding our sales network in India."

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. ITT employs approximately 40,000 people serving customers in more than 50 countries. Headquartered in White Plains, N.Y., the company generated $9 billion in 2007 sales.

Contact:

Thomas Scalera
tel +1 914 641 2030
thomas.scalera@itt.com