Teledyne Technologies Receives New Order for Fiber Optic Products

LOS ANGELES - February 23, 2001 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its Teledyne OptoElectronics unit has received a $3.6 million order from a major fiber optic components original equipment manufacturer for the contract manufacture and test of optical receiver products.

Teledyne OptoElectronics will establish production lines for these products at its Los Angeles optoelectronics manufacturing facility. This order is for prototypes and initial production quantities of OC-192 optical receivers.

"Our automated assembly and test experience in optoelectronics allows us to rapidly ramp up production to meet our customers' requirements," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "This new order supports our strategy of providing engineering and manufacturing services to fiber optic components OEMs."

Teledyne Technologies is a leading provider of sophisticated electronics and communications products, systems engineering solutions, and aerospace products and components, with operations in the United States, the United Kingdom and Mexico. Teledyne OptoElectronics provides high volume leading edge optoelectronic packaging solutions for high data rate, broadband communication applications.

This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from these forward-looking statements. Many factors, including the extent and timing of acceptance of fiber optic products by customers (including service providers), continued outsourced manufacturing of optoelectronic products, funding and continuation of government programs and economic and political conditions, as well as the outcome of the crankshaft investigation, could change the 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 1999 Annual Report on Form 10-K, Form 10-Q for the quarter ended October 1, 2000, as well as the definitive prospectus dated August 16, 2000, related to the company's underwritten public offering.

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