Wastewater Market, Water Quality Monitoring Products, Wastewater Systems

Teledyne Technologies mergers with ISCO a leading producer
of water quality monitoring products

LOS ANGELES, CA and LINCOLN, NE (USA) -- June 19, 2004 -- Teledyne Technologies Incorporated and Isco, Inc. jointly announced this week that at a special meeting of shareholders held earlier, shareholders of Isco, Inc. voted to approve the sale of Isco to Teledyne. Isco shareholders approved and adopted the Agreement and Plan of Merger (the "Merger Agreement"), dated April 7, 2004, by and among Isco, Teledyne and Meadow Merger Sub Inc. and the transactions contemplated by the Merger Agreement. The final vote tally, prepared by the independent inspector of election, showed that 82.5% of the outstanding shares of Isco common stock voted for the approval and adoption of the Merger Agreement. Teledyne and Isco anticipate that the merger will close and be effective at 5:00 p.m. CDT on June 18, 2004.

Isco shareholders will receive $16 in cash for each outstanding share of Isco stock. The acquisition has been approved by the boards of directors of both companies and cleared early the requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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

Isco is a leading producer of water quality monitoring products such as wastewater samplers and open channel flow meters. The company's liquid chromatography customers include pharmaceutical laboratories involved in drug discovery and development. Isco also manufactures chemical separation instruments for industrial and research use. On-line process control instruments for the wastewater market are produced by STIP-Isco for worldwide distribution. For more information, visit Isco's website at http://www.isco.com/

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wastewater market water quality monitoring products wastewater systems chemical separation instruments process control instruments wastewater samplers open channel flow meters electronic components water management systems water resources pharmaceutical laboratories