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Teledyne Technologies Wins $22 Million Contract from Space and Missile Defense Command

LOS ANGELES - July 25, 2002 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that Teledyne Brown Engineering, Inc. has received a five-year, $22 million contract from the U.S. Army's Space and Missile Defense Command to continue the development of Teledyne's Missile Defense Systems Exerciser (MDSE).

The contract contains provisions for five one-year award-term options, which, if exercised, would increase the contract value to $46 million and extend the performance period to 10 years.

The Missile Defense Agency (MDA) uses MDSE to test tactical hardware and software of a variety of missile defense systems in different locations under realistic battlefield scenarios. For example, controllers in Huntsville, Ala. can link MDSE with Patriot and Aegis systems in other locations and then exercise the various software systems. MDSE is the MDA's only accredited tool for assessment of interoperability among its theater missile defense components.

"Through our long standing experience in the industry, we've helped create the interoperability that enables these different systems to work effectively with each other," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "Interoperability is critical to the success of these high-technology systems."

Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communications products, systems engineering solutions, and aerospace products and components, with operations in the United States, the United Kingdom and Mexico. More information about Teledyne Technologies can be found on the Company's website at www.teledyne.com.

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640

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