ITT Partnership Awarded IDIQ Contract for Spaceport Launch Services

(Colorado Springs, Colo., February 10, 2010) -- Spaceport Systems International (SSI), a limited partnership between ITT Corporation (NYSE: ITT) and California Commercial Spaceport, Inc. has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract to provide spaceport launch services for the U.S. Air Force Space and Missile Systems Center Launch Test Squadron. The maximum potential value of the five-year contract is $48 million and actual revenue from the contract will be dependent upon the services specifically requested by the customer.

The SSI spaceport facility is located in the southern corner of Vandenberg Air Force Base in California and is ideally situated to support west coast polar launches of the Minotaur family of space boosters. It is also one of four launch facilities designated as qualified launch sites for the converted Minuteman II launch vehicle.

In 1994, ITT and the California Commercial Spaceport, Inc. announced the limited partnership that resulted in the formation of Spaceport Systems International L.P. Since that time, the company has focused its efforts to bring commercial space services to the central coast of California.

Source : ITT Corporation (NYSE: ITT) - click here for more information