ITT Industries and EDA Announce New Electronics Joint Venture

23 October 1998
ITT Industries and EDA Announce New Electronics Joint Venture in China
    WHITE PLAINS, N.Y., Oct. 22 -- ITT Industries, Inc., through
its Cannon division and EDA, Inc., Taiwan, today announced the formation of
CableCom International, a joint venture based in Hong Kong, with production
facilities in Shenzhen, China, producing connector cable assemblies.
    "CableCom's mission is to provide computer and mobile communications
manufacturers with value-added cable assembly solutions from the most
cost-effective basis possible," the companies said.  "ITT Industries brings
over 80 years experience in connector manufacturing and design, and EDA brings
knowledge of low-cost supply channels and expertise in operating a business in
China."
    CableCom's production facilities are located in Guangdong province in
Southern China, just across the border from Hong Kong.  The company currently
has more than 300 employees working in engineering, production, quality
control, and other operational functions.
    "CableCom represents continued expansion by ITT Industries into China as
we recognize the importance of servicing our valued international customers
wherever they may have manufacturing operations throughout the world," said
Gerry Gendron, President, ITT Industries' Cannon division.
    Mark Steele, General Manager of Cannon Hong Kong, will serve as President
of CableCom, International.
    "CableCom has already won contracts to provide cable assembly products to
major international corporations in the computer and networking equipment
industries," Steele said.  "These customers recognize the value of one-stop
shopping where both their connector and cable assembly needs can be produced
and backed-up by a single, reliable source."
    CableCom represents another example of ITT Industries' increasing activity
in China.  The company is also a 90 percent owner of Cannon (Zhenjiang)
Electronics Co., Ltd., a joint venture company with Zhenjiang Connector &
Switch Factory (ZCF).  The company also manufactures its Flygt pumps, used in
mining, manufacturing and wastewater treatment, in Zhenjiang, and its Goulds
pumps, supplying submersible pumps, turbines, castings and motors for water
management and industrial uses in a facility near Nanjing.
    ITT Industries, Inc., (http://www.ittind.com) is a global industrial
manufacturing company with leading positions in the markets it serves.  Based
in White Plains, NY, ITT Industries employs approximately 34,000 people around
the world.
    ITT Industries is the world's largest producer of pumps, systems and
services to move, measure and control water and other fluids.  The company is
also a leading supplier of sophisticated military defense systems, including
night vision devices, secure communication systems and avionics, and provides
advanced technical and operational services to a broad range of government
agencies.  ITT Industries is a leading provider of electrical interconnects
for cellular telephones, aerospace, network communications, "smart cards" for
personal data storage, and PC cards for laptop computers.  Further, ITT
Industries provides products for highly-focused industrial markets.
    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.
    NOTE TO EDITORS:  ITT Industries and its subsidiaries' press releases are
available at no charge via fax and the Internet.  To receive releases by fax,
call 800-758-5804, extension 110006.  For ITT Industries' news on the
Internet, visit http://www.ittind.com or http://www.prnewswire.com.