ITT Awarded 100 Percent of U.S. Army's Order for Night Vision Image Tubes

WHITE PLAINS, N.Y., Sept. 14 /PRNewswire-FirstCall/ -- ITT Corporation (NYSE: ITT) today announced that its night vision division has received 100 percent of an Omnibus VII night vision order from the U.S. Army Research, Development & Engineering Command (RDECOM) Acquisition Center in Aberdeen Proving Ground, Md. The $63 million order includes image intensifier tubes for both the AN/PVS-7 night vision goggle and the AN/PVS-14 monocular night vision device. Deliveries of the image tubes are expected to take place in 2008 and 2009.

"Today's warfighters are engaging in combat around the clock, and many critical missions depend on the nighttime advantage," said Mike Hayman , president and general manager of ITT Night Vision. "We are committed to supplying our soldiers with the life-saving night vision technology they need to execute these missions safely."

ITT was one of two contractors awarded the initial Omnibus VII indefinite delivery indefinite quantity (IDIQ) contract in 2005. To date, on the contract, ITT has received many options, but this is the first 100 percent Omnibus VII order award for either contractor. Unlike firm-fixed price contracts, this IDIQ contract is structured so that the Army grants awards to contractors based largely on the best-value offering of lowest price, expedited delivery and demonstrated past performance.

As part of their goal to reset warfighters' equipment, the Army Logistics & Readiness Center will use the new order of image intensifier tubes to refurbish battle-worn AN/PVS-7 and AN/PVS-14 goggles.

ITT Night Vision, based in Roanoke, Va., is the world's leading developer, producer and supplier of Generation 3 image intensifier technology for U.S. and allied military forces, as well as the homeland security market.

About ITT Corporation

ITT Corporation ( ) 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 electrical connectors markets with a wide range of products. Headquartered in White Plains, N.Y., the company generated $7.8 billion in 2006 sales. In addition to the New York Stock Exchange, ITT Corporation stock is traded on the Euronext and Frankfurt exchanges.

SOURCE ITT Corporation