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Pratt & Whitney, Teledyne Technologies Announce MOA

West Palm Beach, Fla. (May 9, 2000) -- Pratt & Whitney Small Military Engines (SME) and Teledyne Continental Motors (TCM) have signed a Memorandum of Agreement to pursue teaming in areas of development, manufacturing, and technical and product support of small military engines products and services. This product line would include Uninhabited Air Vehicle (UAV) engines up to 16,000 pounds of thrust for U.S. Government customers.

"We are confident that SME and TCM have complementary technologies, methodologies and capabilities necessary to meet the low-cost, high performance propulsion objectives of emerging UAV requirements," said Steve Finger, president of Pratt & Whitney Military Engines.

Robert Mehrabian, president and chief executive officer of Teledyne Technologies added: "Together we will explore potential offerings to the UAV customer across a full range of thrust capability covering demo requirements through operational system needs."

Pratt & Whitney formed SME in November 1999. SME combines small engine design tools and lean development capabilities of Pratt & Whitney Canada (P&WC) with the advanced technology and government business expertise of Pratt & Whitney Military Engines (ME) to deliver affordable performance for small military engine customers in the U.S.

TCM has long been a significant supplier of small turbine engines to the military, having produced turbine engines for the U. S. Navy Harpoon and Stand-off Launch Attack Missile (SLAM). TCM is currently producing the engine for the Improved Tactical Air Launched Decoy (ITALD) and for foreign customers of the Harpoon as well as the engine for the USAF Joint Air-to-Surface Standoff Missile (JASSM).

Pratt & Whitney's Military Engines unit designs, develops, tests and supports military jet engines. Pratt & Whitney is part of United Technologies Corporation of Hartford, Conn., USA.

Teledyne Continental Motors is a leading supplier of power plants for manned and unmanned aircraft, including piston engines and parts for general aviation aircraft. Teledyne Continental Motors is part of Teledyne Technologies Incorporated of Los Angeles, California

This Memorandum of Agreement is entered into by United Technologies Corporation (NYSE: UTX) and Teledyne Technologies Incorporated (NYSE: TDY). UTC is acting through Pratt & Whitney's Small Military Engines division, headquarters in West Palm Beach, Florida. TDY is acting through its Teledyne Continental Motors division, in Toledo, Ohio.

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640

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