Teledyne Technologies Wins $2.4 Million Air Force Contract

LOS ANGELES - June 6, 2003 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that Teledyne Electronic Safety Products has been awarded a $2.4 million contract by the Naval Inventory Control Point (NAVICP) in Mechanicsburg, Pa. The contract is to supply 517 ACES II Recovery Sequencers in support of U.S. Air Force F-22, F-15, F-16, and B1-B aircraft. The contract is for 12 months.

The ACES II (Advanced Concept Ejection Seat) Recovery Sequencer is an electronic device that remains dormant until initiated by the aircrew member in case of an in-flight emergency. Upon initiation the sequencer controls the timing of ejection events, such as drogue chute and parachute deployment to assure the crewmember the fastest and safest recovery possible.

"Over the last 17 years, Teledyne has produced over 7,000 ejection seat sequencers for the U.S. Air Force and the North Atlantic Treaty Organization (NATO)," said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies. "We are extremely proud of our unblemished safety record and 100% on-time delivery for this important product."

Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communications products, systems engineering solutions, aerospace products and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom and Mexico.

Investor Contact: Jason VanWees (310) 893-1642

Media Contact: Robyn Choi (310) 893-1640