Teledyne Acquires RD Instruments, Inc.

Los Angeles, CA- Teledyne Technologies Incorporated announced that its subsidiary, Teledyne Investment, Inc., has completed the acquisition of RD Instruments, Inc., for approximately $37.0 million. RD Instruments (RDI) designs and manufactures acoustic Doppler instrumentation. Located in San Diego, Calif., the business will operate as Teledyne RD Instruments, Inc.

Teledyne funded the acquisition primarily from borrowings under its $280 million credit facility arranged with a syndicate of banks. RD Instruments had sales of approximately $29.0 million for its fiscal year ended December 31, 2004.

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