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Pagano Named Finance Vice President and Controller at ITT Industries' Fluid Technology Business

21 September 1998

Pagano Named Finance Vice President and Controller at ITT Industries' Fluid Technology Business

    UPPER SADDLE RIVER, N.J., Sept. 21 -- ITT Industries has
named Robert J. Pagano Jr. as Vice President of Finance, and Controller of its
Fluid Technology business.
    Mr. Pagano was previously Vice President, Finance, and Group Controller
for the ITT business's Industrial Pump Group.  Prior to that he held a number
of successively higher level positions at Goulds Pumps, which was acquired by
ITT Industries in 1998. Before joining Goulds, Mr. Pagano spent approximately
five years at KPMG Peat Marwick.
    Mr. Pagano is a Certified Public Accountant and a Certified Management
Account.  He is active in a number of professional associations, including the
Syracuse Institute of Management Accountants, where he is Vice President of
Education & Professional Development.  He is also a member of the American
Institute of Certified Public Accountants, the National Society of Tax
Professionals, and the New York State Society of Certified Public Accountants.
    He succeeds Kjell Engstrom, who moves on to the position of Senior Vice
President and Director, Business and Market Development, at ITT Industries'
Flygt operation in Sweden.
    Mr. Pagano will be based at ITT Industries' Fluid Technology headquarters
in Upper Saddle River, New Jersey.
    ITT Industries' Fluid Technology business is the world's leading provider
of pumps, systems and services to move, measure, and control liquids.  The
company provides a variety of sophisticated pumps, valves and systems used
worldwide in residential, agricultural, commercial, municipal, and industrial
and process applications.  Included are large pumps that control urban storm
water drainage, and submersible pumps that are used in water and wastewater
treatment plants and drain construction sites, tunnels and mines.  Other
products and systems include valves for the aerospace, chemical and energy
markets, and pumps for the leisure marine, hydrotherapy, pharmaceutical and
biotechnology sectors.
    Following the 1998 integration of Goulds Pumps, the business is now
generating significant synergy orders, has total annualized sales of
$2.1 billion and is represented in over 135 countries.  Its world-leading
brands are: A-C Pump, Bell & Gossett, Flygt, Goulds Pumps, Jabsco, Lowara,
McDonnell & Miller, Marlow, Neo-Dyn, Richter, Rule, Sherotec and Vogel.