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News

Teledyne Awarded $20.4 Million U.S. Army Environmental Contract

LOS ANGELES - June 25, 2003 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that Teledyne Brown Engineering, Inc., has been awarded a contract to support the U.S. Army with the destruction of binary chemical warfare materiel in storage at Pine Bluff Arsenal, Arkansas. This contract will take advantage of Teledyne Brown Engineering's experience in the design, construction, installation and operation of systems to safely treat and dispose of chemical warfare materiel. This contract, awarded to Teledyne Brown Engineering, Inc. as prime contractor, is valued at $20.4 million, if fully funded over the contract life.

"Teledyne has supported the Army's Non-Stockpile Chemical Materiel Program since 1996," said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies. "We are extremely proud of the continued confidence shown in Teledyne Brown Engineering by the U.S. Army's Non-Stockpile Program team."

Under this contract, Teledyne will complete the design of a chemical neutralization system, construct the Pine Bluff Binary Destruction Facility in an existing structure on Pine Bluff Arsenal, install and test the system, operate the facility to dispose of the 'binary precursor' chemicals, and close the facility. The selected destruction process called water hydrolysis will use warm water to neutralize the precursor chemicals. The resulting byproduct will be disposed of at an approved commercial disposal facility. While not chemical agent themselves, binary precursor chemicals would form chemical agents when combined with other constituents in a munition while in flight to a target.

The Pine Bluff Binary Destruction Facility will execute part of the U.S. Army's ongoing effort to safely eliminate the nation's remaining chemical warfare materiel as mandated by the Chemical Weapons Convention. Under terms of this international treaty, the United States must eliminate its remaining chemical materiel and former production facilities by April 2007.

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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