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News

BAE Systems and Teledyne Solutions, Inc. Form Joint Venture for Space and Missile Defense Command (SMDC) Services Contract

HUNTSVILLE, Ala. - December 8, 2006 - BAE Systems and Teledyne Solutions, Inc. (TSI), an indirect subsidiary of Teledyne Technologies Incorporated (NYSE: TDY), today announced that they have formed a joint venture to pursue the U.S. Army Space and Missile Defense Command's Systems Engineering and Technical Assistance Contract (SETAC) 2007.

The joint venture, Teledyne & BAE Systems JV LLC, "brings together two highly regarded existing SETAC contractors for the Space and Missile Defense Command (SMDC) that have a reputation for outstanding service to government," said Doug Belair, president of BAE Systems Technology Solutions and Services. The venture is designed to provide an integrated approach to the program management and system engineering services to support SMDC's mission requirements.

"The partnership of Teledyne and BAE Systems creates a strong and experienced team to better serve the government," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies Incorporated. "We intend that this partnership provides the government with the highest value by combining the best practices of these two firms and more than 50 years of collective experience in supporting the air and missile defense community."

"Forming this joint venture demonstrates our commitment and shared vision to providing the SMDC as well as other Huntsville customers the best possible services," added Belair. "We will provide exceptional performance and generate value by combining our talent, resources, and expertise to improve service, quality and operational effectiveness for our SETAC customers."

The SETAC program is designed to provide the U.S. Army Space and Missile Defense Command/U.S. Army Forces Strategic Command with the most advanced and cost effective technology solutions to support air, space, and missile defense.

About BAE Systems:
BAE Systems is the premier trans-Atlantic defense and aerospace company, delivering a full range of products and services for air, land, and naval forces, as well as advanced electronics, information technology solutions, and customer support services. BAE Systems, with 88,000 employees worldwide, had 2005 sales that exceeded $22 billion, excluding the group's former interest in Airbus.

For further information contact:
Paula Sandin
BAE Systems
Tel: 703-907-8281 Cell: 301-233-1808
paula.sandin@baesystems.com
www.na.baesystems.com

About Teledyne Solutions, Inc.
Teledyne Solutions, Inc., located in Huntsville, Ala., is an indirect subsidiary of Teledyne Technologies Incorporated (NYSE: TDY), headquartered in Los Angeles, Calif. Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communications 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, Mexico and Canada. For more information, visit Teledyne website at www.teledyne.com.

About Teledyne Technologies Incorporated
Teledyne Brown Engineering is a wholly owned subsidiary of Teledyne Technologies Incorporated (NYSE: TDY), headquartered in Los Angeles, Calif. Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communications 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, Mexico and Canada. For more information, visit Teledyne Technologies' website at www.teledyne.com.

Teledyne Technologies Investor Contact:
Jason VanWees
(805) 373-4542

Press Contact:
Robyn McGowan
(805) 373-4540




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