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Teledyne Technologies Wins Data Communications Contract From Smiths Aerospace

LOS ANGELES – February 24, 2003 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that it has been selected by Smiths Aerospace to supply advanced Communications Management Unit (CMU) software for the U.S. Air Force’s C-130 Avionics Modernization Program (AMP) and the new Boeing 767 Tanker Transport aircraft.

Teledyne’s CMU software application will be embedded in Smiths’ Mission Control System (MCS), which will be used on board the C-130 AMP and the Boeing 767 Tanker Transport aircrafts. To meet redundancy requirements, two systems will be installed on each aircraft. Smiths Aerospace is a division of Smiths Group (LSE:SMIN.) and a key supplier to The Boeing Company for critical systems on the C-130 fleet upgrade to meet the latest standards for performance, safety and communications.

“Given the more than 500 C-130 aircraft currently in operation and the new Boeing 767 Tanker Transports, this is a significant contract with excellent potential value,” said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies Incorporated. “We anticipate the market for Teledyne’s CMU software application to grow substantially as tankers are ordered, and as Smiths’ MCS is selected for other aircraft types.”

“Smiths Aerospace is pleased with the collaboration on this program, and we look forward to additional areas where we can leverage the capabilities of Teledyne Technologies in the military market,” said John Armendarez, director, Military Programs - Military Air Transport at Smiths Aerospace.

Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communication products, systems engineering solutions, and aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom and Mexico. For more information, visit Teledyne Technologies’ website at www.teledyne.com

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640

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