White Plains, NY – ITT Industries, Inc. announced today that Matthew Kubasik, a senior at Mynderse Academy in Seneca Falls, New York has been awarded an ITT Industries scholarship to study at Monroe Community College.

Mr. Kubasik is one of 18 sons and daughters of ITT Industries employees selected to receive the company scholarship this year. Matthew is the son of Cheryl Kubasik, an employee of ITT Industries’ Goulds Pumps in Seneca Falls, New York. Winners, selected on the basis of outstanding academic achievement and personal accomplishments, were chosen from a group of applicants from the families of approximately 17,500 U.S.–based ITT Industries employees.

“We are proud to recognize these outstanding students, and to assist them in pursuing a higher education,” said Lou Giuliano, Chairman, President and Chief Executive Officer of ITT Industries. “We take a special interest in these children of our employees, and expect they will follow in the footsteps of many other ITT scholarship winners who have gone on to promising careers in many fields.”

Under the program, the amount of each scholarship is based on the financial needs of the student recipient in attending the college of his or her choice.

In the 23 years since this program was formed, 1,412 scholarships have been awarded. The program is administered by an independent organization called Scholarship and Recognition Programs, a division of the Educational Testing Service in Princeton, NJ. Winners were selected on their demonstrated academic achievement and promise, community service and leadership. Children of ITT Industries’ Board of Directors and senior officers are not eligible for scholarships offered under this program.

About ITT Industries ITT Industries, Inc. (www.itt.com) 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, Paris and Frankfurt exchanges.