Teledyne and Honeywell Enter Patent Settlement and Cross-License Agreement

THOUSAND OAKS, Calif. – April 24, 2008 – Teledyne Technologies Incorporated (NYSE: TDY) announced today that it has entered into a patent cross-license and settlement arrangement with Honeywell International, Inc., settling respective patent litigation relating to aircraft data communication systems. The agreement provides financial terms and other consideration for licenses to each party’s patents that were the subject of the litigation. The case was dismissed on April 22, 2008. Other terms of the settlement were not disclosed.

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.

Investor Contact: Jason VanWees (805) 373-4542

Press Contact: Robyn McGowan (805) 373-4540