ITT Industries Acquires Allen Osborne Associates

GPS Capability Will Extend from Space to Ground Systems

(Ft. Wayne, IN) – August 30, 2004 – ITT Industries has acquired Allen Osborne Associates (AOA) the makers of high performance Global Positioning System (GPS) products for precise time and frequency transfer, surveying, ionsopheric calibration, and military receivers. ITT Industries has a long history supporting GPS as a provider of payload systems for every GPS satellite ever launched. This acquisition means that ITT will be able to leverage complementary technology between its space-based capabilities and ground systems for GPS.

The former AOA will retain facilities located in Westlake Village, California and report to ITT’s Aerospace/Communications Division (A/CD) with headquarters in Ft. Wayne, Indiana. The Westlake Village facility will maintain its focus on creating high performance GPS products including its Selective Anti-spoofing Module (SAASM), BenchMark® and Rascal® receivers as well as, time transfer and monitor station receivers, TurboSurvey® software and antennas.

ITT Industries A/CD expects the acquisition of AOA will help it offer expanded services to its military customers through integration of the SAASM module into its tactical radios. SAASM helps to defeat enemy jamming of critical navigation information to American and allied forces. A/CD is a world leader in the development of tactical network systems that distribute positioning information worldwide. A/CD also expects to expand product offerings based on its extensive experience with the Global Positioning System.

ITT Industries, Inc. ( supplies advanced technology products and services in key markets including: fluid and water management including water treatment; defense communication, opto-electronics, information technology and services; electronic interconnects and switches; and other specialty products. Headquartered in White Plains, NY, the company generated $5.63 billion in 2003 sales.
In addition to the New York Stock Exchange, ITT Industries stock is traded on the Midwest, Pacific, London, Paris and Frankfurt exchanges.

Aerospace/Communications Contacts:
John Kirkwood

Tom Mayhew
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