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News

Teledyne Joined By Lockheed Martin and Raytheon on Missile Defense Bid

THOUSAND OAKS, Calif. - Feb. 24, 2011 - Teledyne Technologies Incorporated (NYSE: TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc. (TBE), in Huntsville, Ala., has teamed with Lockheed Martin Corporation (NYSE: LMT) and Raytheon Company to pursue the Missile Defense Agency's (MDAs) Objective Simulation Framework (OSF) contract. OSF will provide a modular, reconfigurable system that joins digital and hardware in the loop representations to evaluate fielded and conceptual Ballistic Missile Defense System (BMDS) architectures against potential threats in realistic environments. The OSF contract provides a highly flexible mechanism to modernize, deploy and sustain MDA's Modeling and Simulation.

"We are pleased to strengthen our team with the addition of Lockheed Martin and Raytheon," said Rex Geveden, president, Teledyne Brown Engineering. "OSF is a top priority for Teledyne, and we intend to offer MDA a best value solution, building on 25 years of experience in test framework development and missile system engineering."

As the lead contractor, Teledyne Brown brings a rich legacy of test framework design, development and operation plus a long history in development and application of the full suite of digital simulations, from physics based engineering tools to end to end evaluation capability for complex air and missile defense system of systems. TBE has established and retained a lead role in BMDS test and assessment by conducting BMDS-level modeling and simulation, ground and flight tests, wargames, exercises, analysis and operational training in Colorado Springs, Co., Huntsville, Ala., and other locations worldwide.

Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. It also has considerable experience in missile design and production, infrared seekers, command and control/battle management, and communications, precision pointing and tracking optics, as well as radar and signal processing. The company makes significant contributions to most major U.S. missile defense systems, and participates in several global missile defense partnerships. Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 132,000 people worldwide.

Raytheon Company is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world.

The contract is expected to be awarded in July 2011.

Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies' operations are primarily located in the United States, Canada, the United Kingdom and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com.

Investor Contact: Jason VanWees (805) 373-4542

Media Contact: Robyn E. McGowan (805) 373-4540




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