LOS ANGELES - May 14, 2003 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that Teledyne Energy Systems, Inc. received an award for two contracts under NASA's Radioisotope Power Conversion Technology Program. The awards, collectively valued at $10 million, if funded fully over the three year multi-phase effort, will focus on the development and demonstration of advanced thermoelectric power generators that will deliver higher efficiency and greater reliability for use in the exploration of the solar system and its planets. First year funding, beginning in July 2003, is approximately $2.5 million.

Teledyne Energy Systems' two awards will pursue different paths to achieve the same goal - a doubling of conventional thermoelectric power generator efficiency. The first project will focus on segmenting different thermoelectric materials and unique heat management techniques to optimize the power generated from a given heat source. The second project will focus on processing and material options to produce a super-latticed thermoelectric material structure that will take better advantage of the heat energy provided by the fuel.

"Teledyne has been at the forefront of thermoelectric materials and power generator systems for more than 50 years, including providing power for deep-space missions such as the Viking Mars Landers and Pioneer missions to Jupiter and Mars," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "We are pleased to collaborate again with NASA under these contracts to transition our advanced concepts from the laboratory to practical use in future space missions."

Thermoelectrics provide thermal energy to electric power conversion in a solid-state process based on the interaction of dissimilar metals in the presence of a thermal gradient. Since thermoelectric generators typically have no moving parts, they exhibit very high reliability and ruggedness. Teledyne Energy Systems' most well known generators powered the Pioneer deep space probes with an operating history of more than 31 years and 7.6 billion miles.

Teledyne Energy Systems, Inc. (TESI) is a leading global provider of on-site gas and power generation systems based on proprietary fuel cell, electrolysis and thermoelectric technologies. In addition, TESI provides products that support these technologies including fuel cell testing, vehicle refueling systems and PEM fuel cell components. TESI is recognized for product lines that are reliable, simple to install and easy to use. More information about Teledyne Energy Systems may be found at www.teledynees.com.

Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communication products, systems engineering solutions and aerospace engines and components. Teledyne Technologies has operations in the United States, the United Kingdom and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com.

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