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Teledyne Technologies To Hold Investor Meetings

LOS ANGELES - May 17, 2004 - Teledyne Technologies Incorporated (NYSE:TDY) announced that Robert Mehrabian, chairman, president and chief executive officer, and Jason VanWees, director of corporate development and investor relations, will be holding investor meetings on May 19 in New York and on May 20 in Boston.

Copies of Teledyne Technologies' latest investor presentation will be publicly available on the company's website prior to the scheduled meetings.

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, Mexico and Canada. For more information, visit Teledyne Technologies' website at www.teledyne.com.

Teledyne's investor relations presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to earnings, growth opportunities, capital expenditures, pension matters and strategic plans. Actual results could differ materially from these forward-looking statements. Many factors, including changes in demand for products sold to the semiconductor, communications and commercial aviation markets, timely development of acceptable and competitive fuel cell products and systems, funding, continuation and award of government programs, changes in insurance costs, customers' acceptance of piston engine insurance-related price increases, continued liquidity of the company's customers (including commercial airline customers) and economic and political conditions, could change the anticipated results. In addition, stock market fluctuations affect the value of the company's pension assets.

Global responses to terrorism and other perceived threats increase uncertainties associated with forward-looking statements about the company's businesses. Various responses could realign government programs, and affect the composition, funding or timing of the company's programs. Reinstatement of flight restrictions would negatively impact the market for general aviation aircraft piston engines and components.

The company continues to take action to assure compliance with the internal controls, disclosure controls and other requirements of the Sarbanes-Oxley Act of 2002. While the company believes its control systems are effective, there are inherent limitations in all control systems, and misstatements due to error or fraud may occur and not be detected.

While Teledyne Technologies' growth strategy includes possible acquisitions, the company cannot provide any assurance as to when, if or on what terms any acquisitions will be made. Acquisitions, including the potential acquisition of Isco, Inc. and the recent acquisitions of the assets of the Filtronic Solid State business and Leeman Labs, Inc., involve various inherent risks, such as, among others, the company's ability to integrate acquired businesses and to achieve identified financial and operating synergies.

On April 8, 2004, Teledyne announced that it entered into an agreement to acquire Isco, Inc., which is subject to closing conditions (including approval of Isco's shareholders at a special meeting). This press release and the investor presentation are for informational purposes only. They do not constitute offers to purchase shares of Isco, Inc. or solicitation or recommendation statements under the rules and regulations of the Securities and Exchange Commission ("SEC"). Isco and Teledyne each publicly filed a Form 8-K with the SEC containing the terms of the definitive merger agreement and the stockholders agreement. Isco also filed a proxy statement in connection with the proposed transaction. Investors and security holders of Isco are urged to read the proxy statement and other relevant materials because they contain important information about Teledyne, Isco and the proposed transaction. As to forward-looking statements regarding Isco, Inc., these statements involve risks and uncertainties. Actual results could differ materially from these forward-looking statements. Many factors, including Teledyne's ability to integrate the acquisition and achieve anticipated synergies, the ability of Isco's management to develop and commercialize its existing and contemplated products in its instruments, process monitoring, and SWIFT chromatography product groups, failure of the requisite number of Isco's shareholders to approve the merger, and unexpected merger-related costs and expenses, could change anticipated results.

Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Teledyne Technologies' periodic filings with the Securities and Exchange Commission, including its 2003 Annual Report on Form 10-K and its Form 10-Q, as well as its press releases. Forward-looking statements are generally accompanied by words such as "estimate", "project", "predict", "believes" or "expect", that convey the uncertainty of future events or outcomes. The company assumes no duty to publicly update or revise any forward-looking statements, whether as a result of new information or otherwise.

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640

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