Teledyne Becomes New Standard Data Acquisition Supplier For All Single-Aisle Airbus Aircraft Delivered to ILFC

LOS ANGELES - June 5, 2003 - Teledyne Technologies Incorporated (NYSE: TDY) announced that its Teledyne Controls business unit has signed an agreement with International Lease Finance Corporation (ILFC), a wholly-owned subsidiary of American International Group, Inc. (NYSE: AIG), to become the supplier of Flight Data Interface Management Units (FDIMUs) for all single-aisle Airbus aircraft manufactured and delivered to the international aircraft leasing giant. With this agreement, Teledyne's fully integrated, three-function data acquisition and recording system will be a part of ILFC's baseline aircraft configuration for its forward-fit fleet of A318-319-320-321 Airbus aircraft, beginning in 2004.

Under a preexisting Teledyne/Airbus standardization agreement, Teledyne already supplies its Flight Data Interface Unit (FDIU) on all A330/A340 aircraft manufactured by Airbus. Under the same agreement, Teledyne will begin supplying its FDIMU on all A340-500/600 aircraft manufactured by Airbus upon completion of Airbus certification at the end of this year. The FDIMU is the central data acquisition and recording unit on Airbus aircraft. This unit provides the essential acquired, recorded and formatted Aircraft Condition Monitoring System (ACMS) data utilized by the Flight Operations Quality Assurance (FOQA) and Maintenance Operations Quality Assurance (MOQA) departments to closely monitor aircraft health and flight operations.

"This is a strategic win for us," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies Incorporated. "Teledyne's FDIMU is a new system architecture of data acquisition and recording that combines a number of traditionally separate functions into one system, providing Airbus aircraft operators with a standard software and programming platform across both the single-aisle and long range aircraft."

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 and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com.