Investor News
ITT Awarded DoD Spectrum Engineering Contract Valued at Up to $545 Million
White Plains, New York - November 1, 2006 - ITT Corporation (NYSE:ITT) today announced it will provide comprehensive spectrum engineering support to the Defense Information Systems Agency (DISA), Joint Spectrum Center (JSC) on the Electromagnetic Spectrum Engineering Services Contract. Under the contract, ITT will provide engineering systems support, technical analysis, test support, and long-term strategic planning as JSC meets national security and military objectives related to the use of electromagnetic spectrum. The contract has a three-year base value of $147 million and if all options on the contract are exercised, a potential total value of $545 million.
"ITT is very pleased to be selected for this important program. We are ready to apply our broad range of engineering and management experience to provide DISA with comprehensive support to assist JSC in the transformation of spectrum management for the DoD," said Ralph Meoni, president of ITT Advanced Engineering & Sciences. "JSC is the DoD center of excellence for electromagnetic spectrum matters, and we are proud to be part of their team in ensuring that the effective and efficient use of that critical resource is sustained now and in the future."
ITT will work closely with DISA and other government agencies on frequency selection, management and analysis. ITT will perform analyses on radio frequency interference, frequency sharing, power spectral densities, and geographical distribution of interference. ITT will also provide feedback on technology risk assessment, visibility, and network coverage.
The ITT team on the Joint Spectrum Center contract includes: IBM; EG&G Technical Services, a Division of URS; Comsearch, an Andrew Corporation company; and Microsoft Corp., together with small businesses ANDRO Computational Solutions; Digital Management, Inc; Freedom Technologies, Inc. and MicroLink, LLC, a partner of Microsoft Corp.
ITT, a leader in homeland defense, information technology and telecommunication solutions, provides leading-edge technology services and products to government, industrial, and commercial customers. For more than 25 years, ITT has provided a full range of RF-communications support to federal government agencies, including requirements assessment, architectural studies, technology studies, conceptual designs, specification development and procurement support.
About ITT Corporation
ITT Corporation (www.itt.com) supplies advanced technology products and services in several growth markets. ITT is a global leader in the transport, treatment and control of water, wastewater and other fluids. The company plays a vital role in international security through its defense communications and electronics products; space surveillance and intelligence systems; and advanced engineering and related services. It also serves the growing leisure marine and electronic components markets with a wide range of products. Headquartered in White Plains, NY, the company generated $7.0 billion in 2005 sales. In addition to the New York Stock Exchange, ITT Corporation stock is traded on the NYSE Arca, Paris, London and Frankfurt exchanges.
For free B-roll/video content and logo about ITT Corporation, please log onto www.thenewsmarket.com/itt to preview and request video. You can receive broadcast-standard video quality digitally or by tape from this site. Registration and video are free to the media.
Contact:
Peter Milligantel +1 914 641 2030
