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ITT Industries' Sales of Auto Body Systems Unit and Magnet Plant Complete

8 January 1998

ITT Industries' Sales of Auto Body Systems Unit and Magnet Plant Complete

           -- Transactions another step in portfolio refinement --

    WHITE PLAINS, N.Y., Jan. 8 -- ITT Industries, Inc.
has completed the sales of its auto body systems unit in
Bergneustadt, Germany, and its magnet production plant in Nuevo Laredo,
Mexico.  The terms of the sales were not disclosed.
    The Bergneustadt unit was sold through a management buy-out;
the unit manufactures auto body systems, employs approximately 1400 people and
had estimated 1997 sales of $225 million.   The Nuevo Laredo facility, which
supplies magnets for small electric motors, employs approximately 900
people, and had estimated 1997 sales (primarily internal) of $43 million, was
sold to the Carbone Lorraine Group of Paris, France.
  "These sales reflect ITT Industries' continuing process of refining our
portfolio of businesses, focusing on areas that create the most value for our
shareholders," said Travis Engen, chairman, president and chief executive of
ITT Industries.
    ITT Industries, Inc. (http://www.ittind.com) is a leading global
diversified manufacturing company with 1996 sales of $8.4 billion from its
three primary business segments: Automotive, Defense  & Electronics, and Fluid
Technology.  ITT Industries' automotive business is one of the world's
largest independent suppliers of systems and components to automotive
manufacturers.  In the defense and electronics area, ITT Industries is a
leader in the design, manufacture and support of high technology electronic
systems and components for defense and commercial markets.  ITT Industries'
fluid technology business is the world's largest pump manufacturer, and a
leading manufacturer of valves and other products, systems and services for
the movement and control of fluids.
    In addition to the New York Stock Exchange, ITT Industries' stock is
traded under the symbol (IIN) on the Midwest, Pacific, London, Frankfurt and
Paris exchanges.

SOURCE  ITT Industries, Inc.