ADDING and REPLACING Teledyne Wins DARPA Systems Program to Develop Innovative Guided Ordnance Technology

Add after last graph of release: Approved for Public Release, Distribution Unlimited

The corrected release reads:

TELEDYNE WINS DARPA SYSTEMS PROGRAM TO DEVELOP INNOVATIVE GUIDED ORDNANCE TECHNOLOGY

Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Scientific & Imaging, LLC (“TS&I”), was awarded a $25.45 million contract from the Defense Advanced Research Projects Agency (DARPA) for Phase II of the EXtreme ACcuracy Tasked Ordnance (EXACTO) program to develop and demonstrate a highly accurate small caliber weapon system capable of addressing moving targets at extreme ranges and in high winds.

“This exciting system demonstration program is a key element of Teledyne’s strategy to support future armed service objectives for ultra-high precision and affordable guided weapons for the warfighter,” said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies.

Teledyne has assembled a world-class team including Alliant Techsystems, Cubic Defense Applications, Charles Stark Draper Laboratory, Elbit Systems of America, and Teledyne Brown Engineering for Phase II. The Teledyne-led team will design and field test an actively guided, maneuverable .50 caliber bullet, fire control system, and ancillary subsystems.

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, the United Kingdom and Mexico. 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 contract award. Actual results could differ materially from these forward-looking statements. Many factors, including funding, continuation and award of government programs could change the anticipated results.

Approved for Public Release, Distribution Unlimited