Industry Plays Key Role in Resolving World's Water Problems, ITT Industries CEO Says
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ITT Industries, Inc.

Sharing Best Practices, Using Small-Scale Solutions and Rewarding Innovation

Facing what many consider to be a looming water crisis, governments, consumers and industry leaders around the world must find ways to work together to ensure adequate fresh water supplies in the 21st century. Industry alone cannot solve all of the problems, but ITT Industries' chairman, president and chief executive officer Lou Giuliano said that it can play a key role in finding solutions. Giuliano's comments came during his address today at the 12th Annual Stockholm Water Symposium in Stockholm, Sweden.

"In many ways, the water issues we face constitute a classical management challenge," Giuliano said. "At the heart of the matter is the inconsistent ability to make clean water available to everyone who needs it while protecting the environment. I am convinced we can solve this management challenge. I believe that it is possible to achieve sustainable economic development while safeguarding our environment and protecting our water
resources. Everyone has a role to play in this challenge."

Giuliano outlined several factors he sees as critical to effective water stewardship, including clear and objective laws, the nurturing of innovative technologies, the use of small-scale water treatment solutions, and ultimately, the open sharing of best water practices between countries.

"Water has the potential for creating new, meaningful connections between nations and people," Giuliano said. "International events like the Stockholm Water Symposium are an indispensable forum for exchanging global best practices. As concerned members of the global community, one of our responsibilities is to share knowledge and solutions, so that others may learn from the successes."

ITT Industries has been an activate participant in the Stockholm Water Symposium for several years. The company's Swedish subsidiary, maker of Flygt pumps, was one of the founders of the symposium. This is the sixth year that ITT Industries has served as a sponsor for the international Stockholm Junior Water Prize, which was awarded earlier this week. ITT Industries and its subsidiaries also serve as sponsors or co-sponsors of the national competitions for the Stockholm Junior Water Prize in the United States, Sweden, and Mexico. In 2003, the company will be sponsoring China's entry into this event as well, in cooperation with China's State Environmental Protection Agency.

The text of Giuliano's address to the Stockholm Water Symposium is available in its entirety on the ITT Industries web site: http://www.itt.com.

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