Teledyne Announces Stock Repurchase Program

LOS ANGELES - March 17, 2003 - Teledyne Technologies Incorporated (NYSE:TDY - News) today announced that its Board of Directors authorized the Company to purchase from time to time up to one million shares of its Common Stock in open market or privately negotiated transactions through March 31, 2004.

There were 32,172,634 shares of Common Stock outstanding at March 10, 2003.

Teledyne Technologies is a leading provider of sophisticated electronic 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 and Mexico. Teledyne Controls is a leading manufacturer of a wide range of air transport, business and commuter aircraft, helicopter, and airport systems.

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640