Allegheny Teledyne Announces General Counsel for New Aerospace and Electronics Spin-Off Company.

PITTSBURGH--(BUSINESS WIRE)--Sept. 27, 1999--

Allegheny Teledyne Incorporated (NYSE:ALT) announced today that John T. Kuelbs, 57, a former Raytheon Company executive, has been named senior vice president and general counsel for the new company to be formed in the planned spin-off of Allegheny Teledyne's Aerospace and Electronics segment.

"John brings a tremendous amount of legal and senior management expertise to our new company," said Robert Mehrabian, president and chief executive officer of the new company which will be known as Teledyne Technologies Incorporated. "I am pleased that such an outstanding and highly respected individual is joining the Teledyne Technologies team. John has worked with aerospace and communications industry leaders such as Raytheon and Hughes and knows both the commercial and defense sides of the business. He has also led the legal review of several major business combinations on behalf of Hughes Aircraft Company."

Most recently Mr. Kuelbs was senior vice president-acquisition policy for Raytheon Systems Company, having previously served as its senior vice president-legal. Prior to Raytheon's acquisition of the aerospace and defense operation of Hughes Aircraft, Kuelbs served as senior vice president, general counsel and secretary of the then $7 billion Hughes Aircraft Company, and was a member of the Policy Board of the parent company Hughes Electronics.

John Kuelbs holds a BS degree from St. Johns University, Collegeville, MN and earned his law degree from Creighton University, Omaha, NE. Kuelbs was a highly decorated infantry officer as a member of the U.S. Army Special Forces in Southeast Asia. He was awarded a Silver Star, four Bronze Stars, the Legion of Merit, two Purple Hearts, and the Vietnamese Cross of Gallantry.

On September 14, 1999, Allegheny Teledyne announced that its board of directors had approved the distribution ratios for the spin-offs of the company's Aerospace and Electronics segment and Consumer segment to Allegheny Teledyne's stockholders and that Registration Statements on Form 10 were filed with the Securities and Exchange Commission relating to the spin-offs of the new companies' shares.

Allegheny Teledyne's Aerospace and Electronics segment, which will comprise Teledyne Technologies after the planned spin-off, is a leading provider of sophisticated electronic and communications products, systems engineering solutions and information technology services, and aerospace engines and components. Customers include aerospace prime contractors, general aviation companies, government agencies and major communications and other commercial companies. The company serves high-value niche market segments where performance, precision and reliability are critical.

Allegheny Teledyne Incorporated is a diversified manufacturing company serving global markets with specialty metals, aerospace, electronic, industrial, and consumer products. The company is one of the largest and most diversified specialty metals producers in the world. With talented people using innovative technologies and systems, Allegheny Teledyne's goal is to be the low cost, high quality supplier to global markets. Allegheny Teledyne's website can be found at http://www.alleghenyteledyne.com.