[February 22, 2012]

Exelis board approves $0.1033 per share dividend; sets date for annual meeting

The Board of Directors for ITT (News - Alert) Exelis (NYSE: XLS) today declared a cash dividend of $0.1033 per share for the first quarter of 2012. The dividend will be payable on April 1, 2012 to shareholders of record on March 16, 2012.

The Exelis Board of Directors also set the date for the company's 2012 annual shareholders' meeting, which will take place at 10:30 a.m. EDT on Wednesday, May 9, 2012. All shareholders of record as of March 16, 2012 are invited to attend. Details of the annual meeting will be included in the proxy statement, which will be available to hareholders in late March.

About ITT Exelis

ITT Exelis is a diversified, top-tier global aerospace, defense and information solutions company with strong positions in enduring and emerging global markets. Exelis is a leader in networked communications, sensing and surveillance, electronic warfare, navigation, air traffic solutions and information systems with growing positions in cyber security, composite aerostructures, logistics and technical services. The Company has a 50-year legacy of innovation and technology expertise, partnering with customers worldwide to deliver affordable, mission-critical products and services for managing global threats, conflicts and complexities. Headquartered in McLean, VA, the Company employs about 20,500 people and generated 2010 sales of $5.9 billion. www.exelisinc.com

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