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ITT ELECTS ANN REESE SVP AND TREASURER

 ITT ELECTS ANN REESE SVP AND TREASURER
 NEW YORK, Sept. 1 /PRNewswire/ -- The board of directors of


ITT Corporation (NYSE: ITT) has elected Ann N. Reese senior vice president and treasurer, it was announced today by Rand V. Araskog, chairman, president and chief executive.
 Ms. Reese, 39, is the highest ranking woman executive in ITT. She will report to M. Cabell Woodward, vice chairman and chief financial officer. Ms. Reese joined ITT in 1987 as an assistant treasurer and was elected an ITT vice president in 1989.
 "In a relatively brief period of time, Ann has done an outstanding job for ITT. Her success in managing a corporate debt portfolio in excess of $2 billion and her implementation of our multibillion-dollar stock repurchase program and of the ITT $700 million ESOP are demonstrative of her capabilities," Araskog said.
 "Ann has also spearheaded our corporate drive for economic value, assessment and improvement, in conjunction with our Alcar consultants. She has won the confidence of our bankers and is most deserving of this promotion," Woodward said.
 Before joining ITT, Ms. Reese spent eight years at Mobil Oil where her last position was the treasurer, Mobil Europe. Previously, Ms. Reese spent three years in various international treasury functions at Union Carbide Corporation, following two years at Bankers Trust.
 Ms. Reese earned a master of business administration from New York University Graduate School of Business in 1982. She graduated from the University of Pennsylvania in 1974 with a bachelor of arts and economics major.
 Ms. Reese resides in Rye, N.Y., and has three sons.
 -0- 9/1/92
 /CONTACT: Jim Gallagher of ITT, 212-258-1261/
 (ITT) CO: ITT Corporation ST: New York IN: SU: PER


GK -- NY056 -- 5463 09/01/92 13:08 EDT
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Date:Sep 1, 1992
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