ROCHESTER , N.Y., March 1, 2011 – ITT Corporation (NYSE: ITT) announced that it has satisfied a key milestone with the successful completion of the Critical Design Review (CDR) for the imaging system for GeoEye-2—GeoEye’s next-generation commercial remote sensing satellite.

“ITT’s imaging system for GeoEye-2 benefits from our more than 50 years of experience delivering the industry’s most sophisticated, dependable, innovative and affordable remote sensing payloads,” said Rob Mitrevski, vice president and general manager of ITT’s Intelligence, Surveillance and Reconnaissance business area. “This important CDR validates ITT’s approach for the final GeoEye-2 imaging system design. ITT now looks forward to moving into the next phase of integration and testing activities for the GeoEye-2 payload.”

Recently conducted at ITT’s facilities in Rochester, N.Y., the CDR represents a key accomplishment for ITT; its customer, Lockheed Martin Space Systems; and GeoEye, as the GeoEye-2 program progresses. GeoEye-2 will be launched aboard an Atlas V rocket provided by Lockheed Martin Commercial Launch Services and will be ready for launch in early 2013.  

Bill Schuster, GeoEye’s chief operating officer said, “This is another important milestone for our GeoEye-2 satellite program, and we remain ahead of schedule for our next phase of integration and testing. The sensor is one of the most important components of GeoEye-2. Once operational, the satellite will deliver the highest resolution and most accurate color imagery to our government and commercial customers.”

ITT has long and productive relationships with both Lockheed Martin and GeoEye. The company built the imaging systems for both the IKONOS and GeoEye-1 commercial imaging satellites. The GeoEye-2 satellite will provide its customers unprecedented detail and geospatial accuracy, further expanding the applications for satellite imagery in both commercial and government markets.  

About ITT Geospatial Systems

ITT Geospatial Systems, headquartered in Rochester, N.Y., is a global supplier of innovative night vision, remote sensing and navigation solutions that provide sight and situational awareness at the space, airborne, ground and soldier levels. ITT Geospatial Systems solutions range from image and data capture to processing and dissemination. Key applications include image intensification and thermal imaging; advanced power supplies; multi-spectral image systems; weather and climate monitoring; space science; intelligence, surveillance and reconnaissance; GPS-based positioning, navigation and timing systems; and image exploitation software. Using our technologies, customers can move beyond mere image acquisition to image interchange and true knowledge sharing. www.geospatial.itt.com 

About ITT Corporation

ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company reported 2010 revenue of $11 billion. www.itt.com  

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