Teledyne Awarded $595 Million Missile Defense Agency Objective Simulation Framework Contract


THOUSAND OAKS, Calif. - August 31, 2011 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., in Huntsville, Ala., was awarded by the Missile Defense Agency (MDA) its Objective Simulation Framework (OSF), an IDIQ contract with a potential value of $595 million over five years beginning September 1, 2011.

Under the contract, Teledyne will design, develop, test, implement and maintain the OSF. It will be the centerpiece test and simulation framework for all elements of the missile defense system. The OSF will be capable of supporting full scale simulations, ground tests and live fire events. For the first time, it will tie together the Digital Simulation Architecture with the Single Stimulation Framework.

"Winning this significant contract reflects well on our capabilities for designing and developing test systems for complex applications such as missile defense," said Robert Mehrabian, Chairman, President, and Chief Executive Officer of Teledyne Technologies. "We expect similar test technologies will have use in other markets we serve including energy, marine, aviation, space and environmental applications."

Teledyne Brown developed the first digital and Hardware-in-the-Loop (HWIL) test and assessment capabilities for missile defense. Through the years, Teledyne Brown developed and supported advancements in test frameworks that established ground test standards for missile defense systems. The company also developed an OSF prototype that incorporates legacy digital and HWIL capabilities to support Ballistic Missile Defense System (BMDS) test and assessment activities. Teledyne Brown has executed BMDS tests and assessments at its headquarters in Huntsville, Ala. and at other locations.

About Teledyne Technologies Incorporated
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered 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‚Äč

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, and cuts to defense spending resulting from future deficit reduction measures, including potential automatic cuts to defense spending that may be triggered by the Budget Control Act of 2011, could change the anticipated results. Various risks, including risks associated with government contracts, are identified in Teledyne's 2010 Annual Report on Form 10-K.