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<SEC-DOCUMENT>0001157523-09-008662.txt : 20091218
<SEC-HEADER>0001157523-09-008662.hdr.sgml : 20091218
<ACCEPTANCE-DATETIME>20091218070515
ACCESSION NUMBER:		0001157523-09-008662
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20091218
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091218
DATE AS OF CHANGE:		20091218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITT CORP
		CENTRAL INDEX KEY:			0000216228
		STANDARD INDUSTRIAL CLASSIFICATION:	PUMPS & PUMPING EQUIPMENT [3561]
		IRS NUMBER:				135158950
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05672
		FILM NUMBER:		091248557

	BUSINESS ADDRESS:	
		STREET 1:		1133 WESTCHESTER AVENUE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604
		BUSINESS PHONE:		9146412000

	MAIL ADDRESS:	
		STREET 1:		1133 WESTCHESTER AVENUE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT INDUSTRIES INC
		DATE OF NAME CHANGE:	19951220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL TELEPHONE & TELEGRAPH CORP
		DATE OF NAME CHANGE:	19840321
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6123929.htm
<DESCRIPTION>ITT CORPORATION 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2009 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-size: 16pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 16pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 or 15(d) of the</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Securities
      Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): December 18, 2009</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><br><font style="font-size: 16pt; font-family: Times New Roman"><b>ITT
      CORPORATION</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br><br><br>
    </p>
    <div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">Indiana</font>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 34%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">1-5672</font>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">13-5158950</font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of incorporation)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 34%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            File Number)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1133 Westchester Avenue
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            White Plains, New York
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">10604</font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal </font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">executive
            offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 50%; text-align: center" valign="top">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code: (914) 641-2000</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (See General Instruction A.2. below):</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">[_] &#160;Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">[_]
      &#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">[_]
      &#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">[_]
      &#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))</font>
    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">Not
      Applicable</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Former
      name or former address, if changed since last report)</font><br>
    </p>
    <p style="text-align: center">

    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 7.01</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 90%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Regulation FD Disclosure</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="margin-right: 90.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">The
      following information is furnished pursuant to Item 7.01 Regulation FD
      Disclosure.&#160;&#160;This information shall not be deemed filed for purposes of
      Section 18 of the Securities Exchange Act of 1934, as amended (the
      &#8220;Exchange Act&#8221;) or incorporated by reference into any filing under the
      Securities Act of 1933, as amended, or the Exchange Act, except as shall
      be expressly set forth by specific reference in such filing. On December
      18, 2009 ITT Corporation issued a press release providing information on
      2009 earnings and revenue as well as providing its 2010 financial
      outlook.&#160;&#160;The press release is attached and incorporated by reference
      herein as Exhibit 99.1.</font>
    </p>
    <p>
      <br>

    </p>
    <div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 9.01.</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 90%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Financial Statements and Exhibits</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">(d) Exhibits</font>
    </p>
    <p style="white-space: nowrap">
      <font style="font-size: 10pt; font-family: Times New Roman">&#160;99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
      release dated December 18, 2009</font>
    </p>
    <p style="white-space: nowrap">

    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-size: 10pt; font-family: Times New Roman; text-align: center">
          2
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURE</b></font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          ITT CORPORATION
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 6%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 44%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 6%; text-align: left" valign="top">
          By:
        </td>
        <td style="border-bottom: solid black 1.0pt; padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Kathleen S. Stolar
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Kathleen S. Stolar
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; width: 6%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Its:
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Vice President, Secretary
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            and Associate General Counsel
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="padding-left: 0.0px; width: 38%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 6%">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 6%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 44%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            December 18, 2009
          </p>
        </td>
        <td style="width: 6%">

        </td>
        <td style="width: 38%">

        </td>
        <td style="width: 6%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">3</font>
    </p>
  </body>
</html>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6123929_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2009 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>ITT
      Provides 2010 Outlook; Raises Low End of 2009 Full-Year Adjusted EPS
      Guidance Range</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Projects
        2010 EPS growth of three to nine percent compared with midpoint of
        2009 adjusted EPS range</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Forecasts
        2010 revenue growth of two to four percent</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Anticipates
        free cash flow conversion at 100 percent of net income in 2010</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Provides
        tightened 2009 adjusted EPS guidance range of $3.72 to $3.74</b></font>
      </li>
    </ul>
    <p>
      WHITE PLAINS, N.Y.--(BUSINESS WIRE)--December 18, 2009--ITT Corporation
      (NYSE: ITT) today announced its full-year 2010 earnings forecast in the
      range of $3.85 to $4.05 per share. The company expects 2010 total
      revenue growth will be in the range of two to four percent compared with
      2009 total revenue. Excluding the impacts of acquisitions, divestitures
      and foreign exchange, the company expects 2010 organic revenue growth of
      two to three percent.
    </p>
    <p>
      The company also today tightened its previously announced 2009 guidance
      range for earnings from continuing operations, excluding special items.
      This includes raising the low end of the prior adjusted earnings
      forecast ($3.70 to $3.74 per share) to a range of $3.72 to $3.74 per
      share. Full-year 2009 revenue is expected to be approximately $10.9
      billion.
    </p>
    <p>
      &#8220;Amid the headwinds of a challenging economic environment in 2009, we
      took important steps to position ITT for a return to growth in 2010. In
      2009, we maintained our enduring focus on the needs of our customers
      while implementing productivity, restructuring and realignment measures
      that improved our long-term cost structure, generated strong free cash
      flow and strengthened our balance sheet. At the same time we continued
      to invest for growth in core categories where we are already very
      strong,&#8221; said Steve Loranger, chairman, president and chief executive
      officer, ITT. &#8220;As we look to next year, we believe we are uniquely
      positioned to deliver top-line growth at or above the markets we serve.
      We continue to build the company for the long term, by investing in
      high-growth opportunities in emerging markets and categories that are
      adjacent to our core businesses to drive growth from our diversified
      customer base.&#8221;
    </p>
    <div style="margin-left: 0pt; margin-right: 0pt; width: 100%; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      In 2010, ITT expects its Defense Electronics and Services segment to
      grow organic revenue approximately three to four percent. The segment
      expects growth in international and non-armed services categories and
      its core defense products to more than offset some declines in Middle
      East services and lower volumes from U.S. SINCGARS tactical radios.
      Organic revenue in the Motion and Flow Control segment is expected to be
      flat, as growth in the auto/transportation businesses and in emerging
      markets is expected to offset declines in aerospace. The company expects
      2010 organic revenue growth of approximately one percent in the Fluid
      Technology segment, driven largely by strength in the municipal business
      and emerging markets.
    </p>
    <p>
      <b>Investor Call Today</b>
    </p>
    <p>
      ITT's senior management will host a conference call for investors today
      at 9:00 a.m. Eastern Standard Time (EST) to review the outlook and
      answer questions. The briefing can be monitored live via the company&#8217;s
      web site: <u>www.itt.com/investors</u>.
    </p>
    <p>
      A replay of the briefing will be available on the web site until
      December 25, 2009 at 6:00 p.m. EST.
    </p>
    <p>
      <b>About ITT Corporation</b>
    </p>
    <p>
      ITT Corporation is a high-technology engineering and manufacturing
      company operating on all seven continents in three vital markets: water
      and fluids management, global defense and security, and motion and flow
      control. With a heritage of innovation, ITT partners with its customers
      to deliver extraordinary solutions that create more livable
      environments, provide protection and safety and connect our world.
      Headquartered in White Plains, N.Y., the company generated 2008 sales of
      $11.7 billion. <u>www.itt.com</u>
    </p>
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    <p>
      <b>Safe Harbor Statement</b>
    </p>
    <p>
      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 (&quot;the Act&quot;). 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 &quot;anticipate,&quot; &quot;estimate,&quot; &quot;expect,&quot;
      &quot;project,&quot; &quot;intend,&quot; &quot;plan,&quot; &quot;believe,&quot; &quot;target&quot; 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 include: Economic, political and
      social conditions in the countries in which we conduct our businesses;
      Changes in government defense budgets; Decline in consumer spending;
      Sales and revenues mix and pricing levels; Availability of adequate
      labor, commodities, supplies and raw materials; Interest and foreign
      currency exchange rate fluctuations; Competition and industry capacity
      and production rates; Ability of third parties, including our commercial
      partners, counterparties, financial institutions and insurers, to comply
      with their commitments to us; Our ability to borrow or refinance our
      existing indebtedness and availability of liquidity sufficient to meet
      our needs; Acquisitions or divestitures; Personal injury claims;
      Uncertainties with respect to our estimation of asbestos liability
      exposure and related insurance recoveries; Our ability to effect
      restructuring and cost reduction programs and realize savings from such
      actions; Government regulations and compliance therewith; Changes in
      technology; Intellectual property matters; Governmental investigations;
      Potential future employee benefit plan contributions and other
      employment and pension matters; Contingencies related to actual or
      alleged environmental contamination, claims and concerns; Changes in
      generally accepted accounting principles; Other factors set forth in our
      Annual Report on Form 10-K for the fiscal year ended December 31, 2008
      and our other filings with the Securities and Exchange Commission.
    </p>
    <p>
      The Company undertakes no obligation to update any forward-looking
      statements, whether as a result of new information, future events or
      otherwise.
    </p>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br><b>ITT Corporation</b><br><u><i><b>Investors:</b></i></u><br>Thomas
      Scalera, +1 914-641-2030<br><u>thomas.scalera@itt.com</u><br>or<br><u><i><b>Media:</b></i></u><br>Jenny
      Schiavone, +1 914-641-2160<br><u>jennifer.schiavone@itt.com</u>
    </p>
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