ITT Awarded Foreign Military Sales Contract Valued at $490 M

(Fort Wayne, Ind., August 13, 2008) -- ITT Corporation (NYSE: ITT) today announced that its Communications Systems business has been awarded a five-year Foreign Military Sales (FMS) contract by the U.S. Army Communications Electronics Command (CECOM). This Indefinite Delivery/Indefinite Quantity (IDIQ) contract was awarded through the Security Assistance Management Directorate (SAMD), Ft. Monmouth, N.J., for the manufacture and delivery of communications and electronics equipment and services required by international customers through the Foreign Military Sales program.

The FMS program is the government-to-government method for selling U.S. defense equipment, services, and training to allied nations. The five-year FMS contract contains an option for a sixth year and has a potential value of $490 million over the life of the contract.

"We are very pleased to be able to support both the U.S. Army CECOM and our nation's allies through this FMS contract," said Ken Peterman, president of ITT Communications Systems. "It allows us the flexibility to meet the varied needs of our important international customers with an array of ITT products and services. We look forward to doing our part in helping provide U.S. allies with the communications necessary for a strong defense."

Source : ITT Corporation

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