Teledyne Awarded $79.6 Million Missile Defense Contract

Teledyne Technologies Incorporated (NYSE:TDY) announced today that its
subsidiary, Teledyne Brown Engineering, Inc., has been awarded a $79.6
million Task Order by the U.S. Army Space and Missile Defense Command /
U.S. Army Forces Strategic Command to design and build affordable,
flexible target missiles used for test and evaluation. The Tactical
Range Air Defense Missile (TACRAM) effort is planned to begin
immediately and could extend through April 2025.

Under this contract, Teledyne Brown Engineering will develop
realistic-threat ballistic target missiles, known as “Zombie” targets,
for use in testing advance missile defense systems.

“A great deal of our company’s legacy is built upon leading and
supporting missile defense programs, including target and
countermeasures development, and the test and evaluation of complex
systems,” said Jan Hess, President of Teledyne Brown Engineering. “Given
current and emerging threats to global security, we are proud to provide
these systems that will help support the defense of our nation and our
allies.”

Army and Missile Defense programs have an increased interest in reducing
the cost of test and evaluation requirements. Zombie targets are
manufactured or reborn in part from components that have reached the end
of their useful life or may be subject to demilitarization. The Zombie
targets, therefore, provide a low-cost solution with
threat-representative capabilities necessary to test the effectiveness
of missile defense assets.

The Task Order was awarded under United States Army Space and Missile
Defense Command’s Design, Development, Demonstration and Integration
(D3I) Domain 1 contract.

About Teledyne Brown Engineering

Teledyne Brown Engineering is an industry leader in full-spectrum
engineering and advanced manufacturing solutions for harsh environments
in space, defense, energy, and marine industries. For over six decades,
the company has successfully delivered innovative systems, integration,
operations and technology development worldwide. For more information,
visit Teledyne Brown Engineering’s website at www.tbe.com.

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, the United
Kingdom, Canada, and Western and Northern Europe. For more information,
visit Teledyne Technologies’ website at www.teledyne.com.

Forward-Looking Information 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 could change anticipated
results, including funding, continuation and award of government
programs, as well as risks associated with government contracts, are
identified in Teledyne’s 2017 Annual Report on Form 10-K.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180618005258/en/