Louis Giuliano, Former Chairman, President and CEO of ITT Industries, to Join The Carlyle Group as Senior Advisor

Washington, DC - Global private equity firm The Carlyle Group today named Louis J. Giuliano, former Chairman, President and Chief Executive Officer of ITT Industries, a Senior Advisor. In this capacity, he will advise Carlyle on investments in the aerospace & defense, industrial and auto sectors, help improve portfolio company operations and mentor portfolio company officials. He will begin his duties immediately.

Allan M. Holt, Managing Director and Co-head of the U.S. buyout group, said, "Lou brings unparalleled knowledge to Carlyle across a broad range of defense electronics, industrial products and technical services. His insights and wisdom will enable us to expand our investments in these areas while our portfolio companies will benefit considerably from his years of management experience. We are pleased that Lou has joined the Carlyle team.

Mr. Giuliano said, "I am excited about the opportunity to work with a very talented management team in a first-class, entrepreneurial environment. Carlyle is a leader among investment firms in the aerospace & defense, industrial and auto sectors. This is an opportune time to be making investments and building long-term value in our companies.

Mr. Giuliano led ITT Industries from 2001 through June 2004 and remained as Chairman until December 2004. Prior to serving as President and CEO, Mr. Giuliano was President and Chief Operating Officer from 1998 through 2000. Mr. Giuliano played a key role in growing the company’s revenues and performance, leading to significantly stronger margins and higher cash flow. He led the company’s Value Based Six Sigma efforts, a strategy designed to streamline processes and increase competitiveness throughout the company.

Prior to becoming President and Chief Operating Officer in 1998, Mr. Giuliano was President and Chief Executive Officer of ITT Industries’ Defense and Electronics businesses and Senior Vice President of ITT Industries for eight years. During that time, the businesses entered new, rapidly growing markets and achieved consistent sales and income growth, despite dramatic reductions in the defense budget.

Mr. Giuliano joined ITT in July 1988 as Vice President of ITT Corporation and Vice President - Defense Operations at ITT Defense after a 19-year career at Allied-Signal, where he served in a number of roles, including his ultimate position as President of the Avionics Systems Group.

Mr. Giuliano earned his B.A. in chemistry and his M.B.A. from Syracuse University. He serves as Honorary Chairman of the Westchester County Red Cross Armed Forces Emergency Services. He is a member of the Board of Directors of ServiceMaster Corporation and a member of the Board of Governors of the United States Postal Service. He also serves on several non-profit boards.

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