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easyJet Selects Teledyne as Sole-Source Supplier of Avionics Hardware and Software

LOS ANGELES, CA - July 7, 2003 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that easyJet plc, one of Europe's leading airlines, has selected Teledyne as its sole-source supplier of the FDIMU (Flight Data Interface Management Unit), Wireless GroundLink® (WQAR), and AirFASE (Aircraft Flight Analysis & Safety Explorer) for their newly procured Airbus A319 aircraft.

Under the agreement, Teledyne Controls, a business unit of Teledyne Technologies, will supply this hardware and software to support easyJet's firm order for 120 Airbus A319 aircraft. The contract between easyJet and Airbus calls for the delivery of aircraft to begin in September 2003 and extend for five years, with an option for a further 120 Airbus A319 aircraft until 2012.

"We are pleased to be working with one of Europe's fastest growing airlines to enhance their existing flight safety program," said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies. "AirFASE is a powerful flight data measurement, analysis and reporting software tool. AirFASE software, using the data acquired by our FDIMU and transmitted by our WQAR, is the premier solution for flight data analysis for Airbus aircraft."

Jointly developed by Airbus and Teledyne, AirFASE is designed for early identification of risk precursors in flight operations by the continuous monitoring of deviations from normal operations. Teledyne's FDIMU is a new system architecture of data acquisition and recording that combines a number of traditionally separate functions into one system, providing Airbus aircraft operators with a standard software and programming platform across both the single-aisle and long range aircraft. The Teledyne Controls Wireless GroundLink is a fully automated end-to-end system over which operators can send flight data for near real-time analysis of air vehicle and flight crew performance.

Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, 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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