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ITT ANTI-LOCK BRAKE SYSTEM SALES TOP $1 BILLION MARK; FIRST COMPANY IN THE INDUSTRY TO REACH $1 BILLION LEVEL

 NEW YORK, Jan. 5 /PRNewswire/ -- ITT Corporation (NYSE: ITT) announced today that sales for ITT Automotive's four-wheel anti-lock brake and traction control systems exceeded $1 billion for the first time in 1993, making it the first automotive parts supplier in the world to reach that level.
 "In addition to being the largest, non-captive supplier of these systems in the United States, ITT Automotive has now become the leading supplier for these systems in the world," Rand V. Araskog, ITT's chairman, president and chief executive said. "Based on this outstanding performance, we have reached a record order book for ITT Automotive anti-lock brake and traction control systems of $7.5 billion through 1998," Mr. Araskog said.
 In 1993, ITT Automotive shipped 2.9 million four-wheel anti-lock brake and traction control systems with sales of $1.1 billion. To date, ITT Automotive has sold approximately $4.3 billion worth of ABS.
 The ITT Automotive Teves MK20, based on the company's MKIV-Gi ABS technology, is one of the lightest, most compact and cost-effective ABS units in the industry, featuring a modular concept for the highest level of component standardization. Its efficient "World ABS" design enables ITT Automotive to meet market requirements throughout the world, including North and South America, Europe and the Pacific Rim.
 ITT Automotive has formal contracts and/or letters of commitment from BMW, Chrysler, Ferrari, Ford North America and Europe, General Motors North America and Europe, Honda, Jaguar, KIA, Mercedes-Benz, Mitsubishi, Peugot, Renault, SAAB, Volkswagen and Volvo for ITT Automotive Teves ABS and traction-control systems.
 ITT Automotive, headquartered in Auburn Hills, Mich., is a $3.5 billion global supplier to the automotive industry that comprises eight product groups. They are Brake Systems, including ITT Automotive Teves anti-lock brakes, traction-control and total brake systems; Wiper Systems, including ITT Automotive SWF wipers, arms, blades and total wiper systems; Fluid Handling Systems; Precision Die Castings; Structural Components; Switches and Lamps; Electronic Motors; and Aftermarket Products, including Koni shock absorbers and Aimco brake components.
 ITT Automotive is in final negotiations to conclude the previously announced acquisition of 80 percent of the Motors and Actuators business of the Delco Chassis Division of General Motors for $400 million. ITT expects to close the transaction in the first quarter.
 ITT Corporation is a diversified, global enterprise made up of four major business groups: ITT Business and Financial Services, ITT Manufacturing, ITT Rayonier and ITT Sheraton. The company had 1992 sales of $21.7 billion and employs some 106,000 in 63 countries around the world.
 -0- 1/5/94
 /CONTACT: Jim Gallagher of ITT Corporation, 212-258-1261/
 (ITT)


CO: ITT Corporation; ITT Automotive ST: New York, Michigan IN: AUT SU:

JG -- NY036 -- 9319 01/05/94 11:49 EST
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Publication:PR Newswire
Date:Jan 5, 1994
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