ITT Exelis (XLS) Completes Spin-Off from ITT Corp. (ITT); Will Trade Independently

ITT Exelis (NYSE: XLS)(NYSE: ITT) announced the completion of its spin-off from ITT Corporation and initiated operations as an independent, top-tier global aerospace, defense and information solutions leader with attractive positions in enduring markets. The $5.9 billion, 21,000-person company aims to augment a 50-year legacy of providing a diverse range of critical systems, components and services that help military, government and commercial customers around the world manage global threats, conflicts and complexities. Open trading of Exelis shares on the New York Stock Exchange will commence Nov. 1, 2011 under the ticker symbol XLS.

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