Agreement to be Acquired by AVIC International Transaction...TCM CONFIDENTIAL AND PROPRIETARY TCM Historical Milestones 1950s: A-65 developed into the 100-hp C-200, which powered the

TCM CONFIDENTIAL AND PROPRIETARY

Agreement to be Acquired by

AVIC International

December 14, 2010


Transaction Highlights

Teledyne Technologies Incorporated and AVIC International Holding Corporation announced an agreement for Technify Motor (USA) LTD., a subsidiary of AVIC International, to purchase Teledyne Continental Motors, Inc. (“TCM”) and Teledyne Mattituck Services, Inc.

All cash purchase price of US$ 186 million; mutual 338(h)(10) election

Retention of Continental Motors’ employees; continued investment by AVIC International in Mobile, Ala.

Closing subject to customary conditions and regulatory approvals(a)

(a) Customary closing conditions include clearance under the Hart-Scott-Rodino Antitrust Improvements Act and by the U.S. Government’s Committee on Foreign Investment in the United States (CFIUS), as well as obtaining all relevant Chinese Government Approvals

2


Complementary Capabilities

A leading supplier of general aviation piston aircraft engines

Turn-key capabilities

Approximately 275,000 engines produced

168 global trademarks

1,548 PMAs

Presence in Mobile, Ala. Aerospace Park

Global aerospace supplier to commercial aviation

Extensive international experience, market access and distribution

30 years of aerospace manufacturing

60 international offices

Sales of US$ 6 billion in in 2009

3


The Opportunity

“China supplanted the U.S. as the world’s largest auto market after its 2009 vehicle sales jumped 46 percent” Source: Bloomberg, January 2010

“There are more than 320,000 general aviation aircraft globally, and the US accounts for 75 percent of that amount, compared with 900 registered general aviation aircraft in China” Source: Civil Aviation Administration of China Source, November 2010

“With its eye on economic development, the Chinese government is looking to open new airspace, new airports, and new training facilities to general aviation” Source: US AOPA, October 2010

4


About Continental Motors

5

Manufacturer of commercial piston engines and spare parts for general aviation aircraft

417 employees

104 year history and brand

FAA certified manufacturer

AS9100 certified company

Headquartered in Mobile, Ala.

Factory service centers in Fairhope, Ala., and Mattituck, N.Y.

Annual Sales of approximately US$ 137M

(9 Mo. 2010 Annualized)

OEM

Aftermarket

(a) Represents new engines for new aircraft

(b) Represents new and rebuilt engines, as well as spare parts and overhaul services, for existing aircraft

(a)

(b)


TCM Historical Milestones

1950s:

A-65 developed into the 100-hp C-200,

which powered the Cessna 150

M

1911 –

1920

1921-

1930

1931-

1940

1941-

1950

1951-

1960

1961-

1970

1971-

1980 1981 –

1990

1991 –

2000

2001-

2007

1900-

1910

1929:

A-70 radial, seven-cylinder engine

is introduced

1906:

Type “O” 45-hp engine is developed

1911-

1920

1981-

1990

1991-

2000

2008 –

2009

2010

1905:

Creation of original

Continental Motors

1938:

A-50 is added to the lineup to power

the Piper Club and Taylorcraft

1945:

Six-cylinder E-185 developed

for Beechcraft Bonanza

1930:

Four-cylinder engine

is introduced to aircraft

1984:

TCM produces TSIO-520-BE for Piper Malibu.

It sets new efficiency targets for piston engines

1986:

Powered by a TCM engine,

the Rutan Voyager is the

first piston-powered

aircraft to circumnavigate

the world without refueling

1960s:

Turbocharging and fuel-injection are

brought to general aviation by TCM

1997:

NASA selects

Continental to

develop and

produce GAP,

a new 200-hp

engine that

operates

on Jet-A fuel

2000s:

TCM OEM market share nearly triples on

strength of exclusive installations in premium

composite aircraft

2008:

Global recession impacts sales,

particularly engines to OEMs

2010:

TCM launches TD-300 Jet-A

engine and unleaded gasoline

development

2005:

First certified FADEC engines

6


Selected TCM Current OEM Installations

Cirrus SR20

Cirrus SR22

Diamond DA20

Mooney Ovation

Mooney Acclaim

Beechcraft Bonanza Beechcraft Baron

Piper Seneca V

Cessna Corvallis 350

Cessna Corvallis 400

Liberty XL2

Cessna LSA

7


TCM Aftermarket Parts and Services

8


Recent International Expansion

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

2004 2005 2006 2007 2008 2009

U.S. Manufactured Piston Aircraft Export Sales as a % of Total Production

9

Source: General Aviation Manufacturers Association


Piston Aircraft Compared to Population

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

USA Canada Australia Brazil

Population: 307M 33M 21M 192M

Pop / Aircraft ~1,900 ~1,700 ~2,400 ~20,000

Active Piston Aircraft

10 Source: General Aviation Manufacturers Association, World Bank


Potential Piston Aircraft Demand

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

USA Canada Australia Brazil China(based on

Brazil)

China(based onUS, CA,

AUS)

Active Piston Aircraft

11 Source: General Aviation Manufacturers Association, World Bank

TCM CONFIDENTIAL AND PROPRIETARY 地址:北京市朝阳区东三环南路2号电话:010-65665922 010-65665923

AVIC International Aviation Customers

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AVIC International Selected Aviation Products

Content on Airbus A320, as well as Boeing 737, 747 and 787

Boeing 737 assemblies

Vertical fin

Horizontal stabilizer

Fuselage section 48

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This is a brief overview of AVIC International’s proposed acquisition of Teledyne Continental Motors, Inc. Viewers are urged to read Teledyne Technologies periodic reports filed with the Securities and Exchange Commission (“SEC”) for a more complete description of Teledyne, Teledyne Continental Motors, their businesses, strategies and the various risks that the companies face. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, relating to earnings, growth opportunities and strategic plans. All statements made in this presentation that are not historical in nature should be considered forward-looking. Actual results could differ materially from these forward-looking statements. Many factors, including changes in demand for products sold to the commercial aviation markets, continued liquidity of the company’s customers and economic conditions, could change the anticipated results. Global responses to terrorism and other perceived threats increase uncertainties associated with forward-looking statements about the company’s businesses. Flight restrictions would negatively impact the market for general aviation aircraft piston engines and components. The pending divestiture of Teledyne Continental Motors involves various inherent risks, including those associated with securing customary government approvals. Various risks are identified in Teledyne’s 2009 Annual Report on Form 10-K and its Forms 10-Q. Viewers, particularly those interested in investing in Teledyne Technologies, should read these risk factors. Forward-looking statements are generally accompanied by words such as “estimate”, “project”, “predict”, “believes” or “expect”, that convey the uncertainty of future events or outcomes. Teledyne Technologies assumes no duty to publicly update or revise any forward-looking statements, whether as a result of new information or otherwise.

Disclaimer

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Documents

Agreement to be Acquired by AVIC International Transaction...TCM CONFIDENTIAL AND PROPRIETARY TCM Historical Milestones 1950s: A-65 developed into the 100-hp C-200, which powered the