SCHEDULE 14A INFORMATION
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ITT CORPORATION
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Its Time For ITT Bidders To:
"SHOW US THE MONEY"
Fellow ITT Stockholders:
The Board of Directors of ITT is absolutely committed to selling ITT for
the highest price. However, we do not believe--and we do not think ITT
stockholders believe--that either Hilton or Starwood has yet made their
highest bid.
Your Board is running a bidding process that has already created $3.5
billion in additional value for ITT stockholders. If reelected on November
12, we will continue to seek maximum value for you. We will treat all
bidders fairly and consider only economics as we weigh competing bids for
your company.
We don't see how your interests are served by having the Hilton slate cut
off the auction. We respectfully request your support on November 12 so we
can get you the highest price for your shares as soon as possible.
The Directors of ITT Corporation
Bette B. Anderson Rand V. Araskog Nolan D. Archibald
Robert A. Bowman Robert A. Burnett Paul J. Kirk, Jr.
Edward C. Meyer Benjamin F. Payton Vin Weber
Margita E. White Kendrick R. Wilson III
It is too late to mail your proxy card. To vote for the ITT Directors, call
GEORGESON & COMPANY INC., toll free at (800) 223-2064 for last-minute
voting instructions.
ITT
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[ITT Letterhead]
DATE: November 7, 1997
CONTACTS: Jim Gallagher George Sard/David Reno
TELEPHONE: 212-258-1261 Sard Verbinnen & Co.
212-687-8080
FOR IMMEDIATE RELEASE
ITT RESPONDS TO STARWOOD LODGING'S INCREASED OFFER
NEW YORK, November 7, 1997 -- ITT Corporation (NYSE:ITT) today said
Starwood Lodging's increased offer confirms its belief that stockholders
will receive the highest value by continuing the competitive auction for
ITT. ITT continues to believe that Hilton will now also increase its offer.
The Board of ITT is absolutely committed to selling ITT in a fair
auction in which the bidder who is willing to pay the highest price will
win.
- ITT -
