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Teledyne Wins Microgravity Contract From NASA

LOS ANGELES - June 17, 2002 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., has been awarded a contract from NASA's Marshall Space Flight Center (MSFC). The contract has a base performance period of five years, with an option for an additional five years. The expected minimum contract value for the first five-years is $15 million. The maximum contract value could be up to $568 million over the full ten-year period, assuming appropriate levels of funding and contract task orders.

Teledyne's team based in Huntsville, Ala. will lead a team of experienced contractors on work that will include microgravity science, hardware and software development, integration, operation and maintenance of science facilities and payloads on the International Space Station. Teledyne will provide technical and engineering support to microgravity science investigators, and will provide management and administrative support to the Material Science and Applications Department of the Marshall Center's Science Directorate.

For over 40 years, Teledyne Brown Engineering has supported every major NASA aerospace initiative, from the Apollo moon exploration, through Space Shuttle scientific payloads, to the International Space Station. Teledyne Technologies chairman, president, and chief executive officer, Robert Mehrabian said, "We're extremely proud of the continued confidence shown in Teledyne by NASA. This award continues our tradition of excellence in manned space flight systems development and operations that has existed since the beginning of our nation's space exploration program. This program enables the continued use of the engineering talents we have developed over the years to support NASA in shaping the future of microgravity science."

One of MSFC's primary missions is to support NASA's Human Exploration and Development of Space, and the Office of Biological and Physical Research enterprises, which work together to facilitate long-term space exploration and experimentation. MSFC serves as NASA's lead center for the Materials Science and Biotechnology disciplines and serves other customers and sponsors within the Agency.

Teledyne Brown Engineering will be supported on this key NASA program by the following three Huntsville-based small business partners: bd Systems, Madison Research Corporation, and Tec-Masters, Inc.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially as they depend on many factors, including continuation of funding of a governmental program.

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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