Teledyne Technologies Wins Contract From Smiths Aerospace

LOS ANGELES - May 23, 2003 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that it has received an $800,000 contract from UK-based aerospace company Smiths Aerospace for multichip power modules to be used in the battery charger control unit of the Joint Strike Fighter aircraft.

These multichip modules, modified from designs that were developed and produced for the F-22 Raptor program, provide programmable voltage/current outputs to charge the battery. The modules implement a smart charging algorithm which monitors the battery and selects a charging current and terminal voltage to extend the life of the battery.

"Over the last several months, Teledyne has been awarded multiple contracts from a number of suppliers for critical components for the Joint Strike Fighter," said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies Incorporated. "Teledyne Technologies is proud to be involved in the development of this pioneering program."

Teledyne Technologies Incorporated (www.teledyne.com) is a leading provider of sophisticated electronics and communication products, systems engineering solutions and aerospace engines and components. Teledyne Technologies has operations in the United States, the United Kingdom, and Mexico.

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