Multi-million Dollar Contract is Largest Foreign Space Win 

Rochester, N.Y., November 2, 2009 - ITT (NYSE:ITT) announced today that Mitsubishi Electric Corporation, Japan's largest satellite manufacturer, has selected ITT Space Systems to build the imaging systems for two geostationary satellites being built for the Japan Meteorological Agency (JMA). The two geostationary satellites, named Himawari-8 and Himawari-9, will provide round-the-clock weather forecasts and severe weather alerts for the eastern Asia and Oceania.
 
The Himawari payloads will be based on the Advanced Baseline Imager (ABI) that ITT is currently building for the Geostationary Operational Environmental Satellite-R-series, or GOES-R, for NOAA's next-generation geostationary constellation. This improved imager has the capability to monitor three times the amount of atmospheric conditions than current generation payloads, creating superior imagery data for severe weather analysis and forecast every 30 seconds.
 
"This is a key win for ITT Space Systems Division. It's our largest international contract to date; and when combined with the Advanced Baseline Imager work we're doing for NASA, firmly establishes ITT as the worldwide leader for design and development of this class of meteorological instrument," said Rob Mitrevski, vice president for Commercial and Space Science. "We're very proud of the fact that ITT meteorological payloads will help save lives and protect property around the world for many years to come."
 
The Himawari (Japanese for "sunflower") satellites, formally known as the Japanese Geostationary Meteorological Satellite series, are part of the World Weather Watch project within the World Meteorological Organization. Himawari-8 is expected to launch in 2014, followed by Himawari-9 in 2016.
 
About ITT Space Systems
ITT's Space Systems Division (www.ssd.itt.com  ) headquartered in Rochester, N.Y., provides innovative remote sensing and navigation solutions to customers in the Department of Defense, intelligence, space science and commercial aerospace to help them visualize and understand critical events happening on Earth, in the air, or in space in time to take effective action. Leveraging comprehensive capabilities, ITT's solutions span from image and data collection through processing and dissemination. Key applications include high-resolution commercial imaging; space science; climate and environmental monitoring; intelligence, surveillance and reconnaissance; GPS navigation; image and data processing and dissemination; and space control and missile defense.

About ITT Corporation
ITT Corporation (www.itt.com ) 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.

About Mitsubishi Electric
With over 85 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3,665.1 billion yen (US$ 37.4 billion*) in the fiscal year ended March 31, 2009. For more information visit http://global.mitsubishielectric.com *At an exchange rate of 98 yen to the U.S. dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2009.