FOR IMMEDIATE RELEASE
September 10, 2007

ITT Corporation completes acquisition of International Motion Control

White Plains, N.Y. - September 10, 2007 - ITT Corporation (NYSE:ITT) today announced it has completed the acquisition of International Motion Control (IMC). Buffalo, N.Y.-based IMC is a global developer of motion control products with 2006 revenues of approximately $200 million. The acquisition agreement was announced on June 26 this year.

"We're pleased to report the transaction closed smoothly and ahead of schedule, allowing us to begin the integration process immediately," said Nick Hill, president of ITT's motion and flow control business. "We remain very excited about the future prospects of our combined organization and look forward to a smooth integration."