Teledyne and Honda to Study Business Opportunities for Next Generation Aircraft Piston Engines

Business Wire, March 3, 2003

Business Editors

LOS ANGELES--(BUSINESS WIRE)--March 3, 2003

Teledyne Technologies Incorporated (NYSE:TDY) announced today that Teledyne Continental Motors, Inc., and Honda Motor Co., Ltd. (NYSE:HMC) will begin a joint feasibility study for a next-generation piston aviation engine currently in development by Honda. Over the next several months, the joint study will evaluate potential business opportunities for both parties to work together toward marketing, servicing, manufacturing and identifying potential product launch customers for these engines for the general aviation market.

The announcement follows approximately two years of cooperation between the two companies on the testing of a prototype Honda-designed aviation piston engine at the Mobile, Alabama facility of Teledyne Continental Motors (TCM). Honda's piston aviation engine technologies derive from its research and development of motorcycles and automobiles. With support in the development process based on TCM's aviation expertise and know-how, Honda has developed a prototype piston aviation engine that has achieved the technical potential for being significantly advanced over currently available engines in terms of weight, fuel efficiency, power output and emissions. Honda, TCM and Teledyne have agreed to conduct a joint feasibility study as the next step in their relationship.

General aviation powerplants include piston, turboprop, and turbofan engines. In addition to previously announced research on turbofan engines, Honda has also been researching and developing more cost-effective aircraft piston engines since 2000.

About Honda Motor Co., Ltd.

Honda is one of the world's leading producers of mobility products including automobiles, motorcycles and power products. This diverse product line-up has made Honda the world's preeminent engine-maker, with production of more than 15 million engines globally in 2002. For more information, visit Honda Motor Co., Ltd at world.honda.com.

About Teledyne Technologies Incorporated

Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communication products, systems engineering solutions, aerospace engines and components, as well as on- site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com.

About Teledyne Continental Motors, Inc.

Teledyne Continental Motors, Inc., is a leading provider of new, re-manufactured, and overhauled piston aircraft engines, ignition systems, spare parts and aviation batteries for the General Aviation industry. With industry leading innovations, the Continental name has powered many of the industry's benchmark aircraft for almost 70 years. Continental Motor's innovations have included opposed aircraft engines, turbo-charging, mechanical and electronic fuel injection. The company has also gained recognition for its lean synchronous manufacturing and internet-based TCMLink(R) service support system initiatives. For more information, visit Teledyne Continental Motors website at www.tcmlink.com.

SOURCE: Teledyne Technologies Incorporated