WHITE PLAINS, N.Y., Jan. 16 /PRNewswire/ -- ITT Corporation today announced that its night vision business was awarded an order from the U.S. Army Research, Development & Engineering Command Acquisition Center totaling $174.7 million. The order is for the AN/PVS-14 night vision monocular-ITT's most versatile night vision unit-and spare image tubes. It is the latest order for the Omnibus VII contract awarded by the U.S. Army in September 2005. The AN/PVS-14 allows users to adjust the gain control in varying light conditions in both urban and rural settings. These versatile devices can be hand-held, head or weapon mounted, or fitted to a camera. The spare image tubes will support the Army Life Cycle Management Command's reset initiatives to refurbish battle-worn goggles. "The Omnibus VII contract has been an important tool for the Army to equip every serving unit with crucial night vision technology in support of night and low-light missions," said Mike Hayman, president and general manager, ITT Night Vision. "We are pleased to receive this latest order, and are proud to support our warfighters." In addition to the AN/PVS-14 monocular devices, image tubes for AN/PVS-7 and AN/PVS-14 goggles will be delivered through this latest order. ITT's Omnibus VII contract has a total potential value of $1.39 billion. Work will be performed in Roanoke, Va. By the end of 2007, ITT had received Omnibus VII orders for more than 250,000 AN/PVS-14 monocular devices, 3,000 AN/PVS-7 goggles and 100,000 associated spare image intensifier tubes. ITT Night Vision (http://www.nightvision.com/) is the world's leading developer, producer and supplier of Generation (Gen) 3 image intensifier technology for U.S. and allied military forces as well as the homeland security market. ITT has served the U.S. military with premier night vision solutions for more than 45 years and delivered its one millionth Gen 3 image tube in 2007. About ITT Corporation ITT Corporation (http://www.itt.com/) supplies advanced technology products and services in several growth markets. ITT is a global leader in water and fluid transport, treatment and control technology. The company plays a vital role in international security with communications and electronics products; space surveillance and intelligence systems; and advanced engineering and services. It also serves a number of growing markets-including marine, transportation and aerospace-with a wide range of motion and flow control technologies. Headquartered in White Plains, N.Y., the company employs approximately 40,000 people and generated $7.8 billion in 2006 sales. Safe Harbor Statement Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 ("the Act"). These forward- looking statements include statements that describe the Company's business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed in, or implied from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated by the Company include general global economic conditions, decline in consumer spending, interest and foreign currency exchange rate fluctuations, availability of commodities, supplies and raw materials, competition, acquisitions or divestitures, changes in government defense budgets, employment and pension matters, contingencies related to actual or alleged environmental contamination, claims and concerns, intellectual property matters, personal injury claims, governmental investigations, tax obligations, and changes in generally accepted accounting principles. Other factors are more thoroughly set forth in Item 1. Business, Item 1A. Risk Factors, and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations -- Forward-Looking Statements in the ITT Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2006, and other of its filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: ITT Corporation CONTACT: Allison Moore, +1-540-561-0582, , or Tom Glover, +1-703-790-6334, , both of ITT Corporation Web site: http://www.itt.com/ http://www.nightvision.com/

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