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News

Teledyne Enters Agreement to Acquire Leeman Labs

LOS ANGELES - February 5, 2004 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that Teledyne Tekmar Company has entered into an agreement to acquire assets of Leeman Labs, Inc., for $8 million. The transaction is expected to close on or about February 27, 2004. The transaction is subject to customary closing conditions. Leeman Labs' product lines would augment Teledyne's existing laboratory and continuous monitoring instruments used in environmental applications. Leeman Lab's inductively coupled plasma laboratory spectrometers are used by environmental and quality control laboratories to detect low levels of inorganic contaminants in water and other environmental samples, and complement Teledyne Tekmar's organic analysis instrumentation.

Leeman Labs, located in Hudson, New Hampshire, had sales of approximately $8.6 million for its fiscal year ended September 30, 2003. If completed, the acquired business would be operated as Teledyne Leeman Labs.

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, Mexico and Canada. For more information, visit Teledyne Technologies' website at www.teledyne.com.

Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a potential acquisition. Actual results could differ materially from these forward-looking statements. Many factors, including the Company's ability to integrate the acquired product lines and achieve anticipated synergies, could change anticipated results.

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640




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