Teledyne to Provide Autonomous Underwater Vehicles

Teledyne to Acquire Webb Research Corp.
THOUSAND OAKS, Calif.--(Business Wire)--
Teledyne Technologies Incorporated (NYSE:TDY) announced today that
its subsidiary, Teledyne Instruments, Inc., has entered into an
agreement to acquire assets of Webb Research Corp. Webb Research,
located in E. Falmouth, Mass., is the world's leading manufacturer of
autonomous underwater gliding vehicles, as well as autonomous
profiling drifters and floats. Terms of the transaction were not
disclosed. The closing of the transaction, which is subject to various
conditions, is anticipated to occur on or about July 7, 2008.

"Under the Teledyne Marine umbrella, Teledyne currently provides a
number of market leading marine electronic subsystems, including
acoustic modems, acoustic and inertial navigation systems, acoustic
Doppler current profilers and subsea electrical and optical
interconnect solutions," said Robert Mehrabian, chairman, president
and chief executive officer. "The acquisition of Webb Research will
immediately add autonomous underwater vehicle systems to Teledyne
Marine's existing capabilities. Furthermore, proprietary glider
systems offer a platform for Teledyne Marine to provide future sensor
payloads, for Teledyne Scientific to develop autonomous systems
software, and for Teledyne Brown Engineering to provide customers with
fully integrated autonomous glider system solutions."

Webb Research's gliders are autonomous underwater vehicles (AUVs)
that use changes in buoyancy in conjunction with wings and tail
steering to convert vertical motion to horizontal, and thereby propel
the system on a programmed route with very low power consumption.
Applications of gliders range from oceanographic research programs to
military persistent surveillance systems and mobile nodes for subsea
communication networks. Gliders were first conceived by Douglas Webb,
the founder of Webb Research and a former researcher at the Woods Hole
Oceanographic Institution (WHOI). Following the acquisition, Douglas
Webb will remain with the business and become Senior Director,
Technology for Teledyne Webb Research. Webb Research currently
manufactures the 'Slocum' and 'Slocum Thermal' glider systems.

The Slocum glider, which provides a single solution for both
shallow and deep water applications, can descend to 1,000 meters and
monitor a number of physical and chemical properties for months. A
modular payload bay permits customers to easily reconfigure sensor
payloads between missions. Data collected during missions are
periodically transmitted to the host marine research institution or
military user via satellite links, which are also used to update route
instructions. The unique Slocum Thermal glider uses patented Webb
Research thermal engine technology to extend mission life, potentially
to several years.

In addition to gliders, Webb Research has manufactured over 5,000
autonomous ocean profiling drifters and floats, the majority of which
were funded under the Argo program, an international collaboration of
23 countries to monitor the changing state of the upper ocean and
patterns of ocean climate variability over months to decades. Webb
Research had sales of $12.2 million for its fiscal year ended December
31, 2007. After the closing, the acquired business will remain at its
current location in E. Falmouth, Mass., and will operate under the
name Teledyne Webb Research.

Teledyne Technologies is a leading provider of sophisticated
electronic components, instruments and communication 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, Mexico and Canada. 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
potential acquisition. Actual results could differ materially from
these forward-looking statements. Many factors, including the
Company's ability to integrate the acquired product lines, retain
customers and achieve anticipated synergies, could change anticipated
results.

Teledyne Technologies Incorporated
Investor Contact:
Jason VanWees, 805-373-4542
or
Press Contact:
Robyn McGowan, 805-373-4540

Copyright Business Wire 2008