WHITE PLAINS, N.Y., October 31, 2011 – Xylem Inc. (NYSE: XYL) today announced that it has completed its spinoff from ITT Corporation, and has begun operations as a $3.2 billion standalone global water technology company. Xylem’s market-leading product brands, applications expertise and technological strength enable the transport, treatment, testing and efficient use of water in public utility, residential and commercial building services, industrial and agricultural settings. The company serves customers in more than 150 countries to address critical water issues such as growing water scarcity, aging infrastructure and more stringent environmental regulations. On November 1, 2011, Xylem will begin regular trading on the New York Stock Exchange under the ticker symbol XYL, and will be listed on the Standard & Poor’s 500 Index.