Exhibit 99.1

Julie McDowell
Vice President, Corporate Communications
610-948-2836

FOR IMMEDIATE RELEASE October15, 2003

TELEFLEX REPORTS THIRD QUARTER 2003 RESULTS:
REVENUES INCREASED 8% IN THE QUARTER

Limerick, PA — Teleflex Incorporated (NYSE: TFX) today reported revenues in the third quarter ended September 28, 2003 increased 8 percent to $550.9 million compared to $508.2 million for the year-ago quarter. Net income in the quarter was $18.2 million, a 31 percent decline from $26.3 million in the prior year and diluted earnings per share were 45 cents compared to 66 cents in the prior year. In 2002, third quarter results included a benefit from income tax settlements which contributed $3.1 million to net income, or 8 cents per diluted share.

     Revenues in the first nine months of 2003 were $1.7 billion, a 7 percent increase compared to $1.6 billion last year. Net income in the first nine months was $79.3 million compared to $90.2 million for the same period in 2002. Diluted earnings per share were $1.99 compared to $2.27 per share for the same period a year ago.

     Commenting on results and the current outlook, Jeffrey P. Black, president and chief executive officer, said, “While results for the third quarter were disappointing, Teleflex maintains solid fundamentals – a strong balance sheet and good cash flow. Teleflex overall continued to grow revenues and our Medical Segment again delivered double-digit growth in sales and operating profit. Results were negatively impacted by weakness in some of our end markets and the performance of our Aerospace Segment.”

     “During the remainder of the year we will continue to focus on improving operational efficiency, capitalizing on new products and acquisitions, and positioning our businesses for future growth. At this time, we expect the fourth quarter to improve from an operating profit standpoint when compared with the fourth quarter a year ago. However, we expect fourth quarter earnings per share to be lower than the prior year. In 2002, fourth quarter earnings per share included non-operating gains of $10 million, or 16 cents per share after tax. We now anticipate earnings for the full year 2003 to be at the lower end of our previously announced range of $2.75 to $2.90.”

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     The Commercial Segment reported sales of $279.2 million in the quarter, a 7 percent increase with gains in both the Automotive and Industrial product lines. Automotive sales increased as a result of core growth from new products and programs in Europe and Asia and favorable currency rates. Industrial sales increased largely as a result of acquisitions. Marine product line sales fell slightly as a result of weaker demand in the marine aftermarket. Operating profit for the segment declined 16 percent due to expenses related to the curtailment of manufacturing at an automotive site in North America, a decline of higher-margin sales in the marine product lines, and a decline in the demand for alternative fuel vehicles in North America.

     Medical Segment sales were $139.6 million in the third quarter, a 24 percent increase over the prior year. Both product lines, Health Care Supply and Surgical Devices, reported double-digit gains in revenue and operating profit. Health Care Supply sales and operating profit improved due to positive currency effects and new product sales. Surgical Devices sales and operating profit increased due to acquisitions. Operating profit for the segment improved 19 percent as a result of acquisitions, core growth, and currency, although acquisitions served to lower margins for this segment overall.

     Aerospace Segment sales declined 1 percent in the quarter to $132.0 million. Declines in sales for the Industrial Gas Turbine Services, Cargo Systems and Manufactured Components product lines were partially offset by an increase in Repair Services. The increase in Repair Services can be attributed to additional sales of lower margin service offerings. Operating profit declined over 90 percent due largely to losses in the Industrial Gas Turbine Services product line. Weaker demand and pricing constraints in the aerospace and power generation markets continued to impact this segment.

     As previously announced, Teleflex will comment on third quarter 2003 results on a conference call to be held Thursday, October 16th, at 11:00 a.m. (EDT). The call will be archived and available on the company’s website at www.teleflex.com.

The figures are as follows:

COMPARATIVE SUMMARY OF REVENUES AND EARNINGS
(Unaudited)

							Percent
Three Months Ended			September 28, 2003		September 29, 2002		Change
Sales
	Commercial Products		$	279,241,000	$	262,116,000		7	%
	Medical Products			139,644,000		112,223,000		24	%
	Aerospace Products			131,965,000		133,899,000		(1	%)
		Total	$	550,850,000	$	508,238,000		8	%
Operating Profit
	Commercial Products		$	15,815,000	$	18,742,000		(16	%)
	Medical Products			20,992,000		17,617,000		19	%
	Aerospace Products			469,000		7,954,000		(94	%)
		Total	$	37,276,000	$	44,313,000		(16	%)

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COMPARATIVE SUMMARY OF REVENUES AND EARNINGS (continued)
(Unaudited)

						Percent
Three Months Ended		September 28, 2003		September 29, 2002		Change
Less:
	Interest expense		6,580,000		6,280,000		5	%
	Corporate expenses		5,387,000		4,893,000		10	%
Income before taxes			25,309,000		33,140,000		(24	%)
Taxes on income			7,087,000		6,860,000		3	%
Net income		$	18,222,000	$	26,280,000		(31	%)
Earnings per share
	Basic	$	.46	$	.67		(31	%)
	Diluted	$	.45	$	.66		(32	%)
Average shares outstanding
	Basic		39,655,000		39,341,000
	Diluted		40,072,000		39,820,000

										Percent
Nine Months Ended					September 28, 2003			September 29, 2002		Change
Sales
	Commercial Products				$	897,257,000		$	819,516,000		9	%
	Medical Products					387,468,000			332,999,000		16	%
	Aerospace Products					390,291,000			410,425,000		(5	%)
			Total		$	1,675,016,000		$	1,562,940,000		7	%
Operating Profit
	Commercial Products				$	77,847,000		$	74,130,000		5	%
	Medical Products					61,615,000			53,378,000		15	%
	Aerospace Products					4,322,000			30,271,000		(86	%)
				Total	$	143,784,000		$	157,779,000		(9	%)
Less:
	Interest expense					19,755,000			18,555,000		6	%
	Corporate expenses					15,423,000			14,076,000		10	%
	Non-operating gain					(3,068,000	)		—		—
Income before taxes						111,674,000			125,148,000		(11	%)
Taxes on income						32,376,000			34,914,000		(7	%)
Net income					$	79,298,000		$	90,234,000		(12	%)
Earnings per share
		Basic			$	2.01		$	2.30		(13	%)
		Diluted			$	1.99		$	2.27		(12	%)
Average shares outstanding
		Basic				39,547,000			39,207,000
		Diluted				39,870,000			39,809,000

CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited)

		September 28, 2003		December 29, 2002
Assets
Current assets
	Cash and cash equivalents	$	46,553,000	$	44,494,000

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CONDENSED CONSOLIDATED BALANCE SHEET (continued)
(Unaudited)

			September 28, 2003		December 29, 2002
		Accounts receivable, net		452,336,000		401,888,000
		Inventories		430,355,000		365,535,000
		Prepaid expenses		23,462,000		25,978,000
				952,706,000		837,895,000
Property, plant and equipment, net				635,700,000		604,241,000
Goodwill				278,275,000		257,999,000
Intangibles and other assets				105,242,000		68,810,000
Investments in affiliates				35,962,000		44,439,000
			$	2,007,885,000	$	1,813,384,000
Liabilities and shareholders’ equity
Current liabilities
	Current borrowings		$	234,952,000	$	182,776,000
	Accounts payable and accrued expenses			317,599,000		276,938,000
	Income taxes payable			48,780,000		38,769,000
				601,331,000		498,483,000
Long-term borrowings				216,990,000		240,123,000
Deferred income taxes and other				178,644,000		162,497,000
				996,965,000		901,103,000
Shareholders’ equity				1,010,920,000		912,281,000
			$	2,007,885,000	$	1,813,384,000

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)

Nine Months Ended			September 28, 2003			September 29, 2002
Cash flows from operating activities			$	155,365,000		$	150,588,000
Cash flows from financing activities:
		Proceeds from new borrowings		—			1,457,000
		Reduction in long-term borrowings		(21,109,000	)		(23,796,000	)
		Increase in current borrowings and demand loans		28,288,000			4,857,000
		Stock compensation plans		3,786,000			9,696,000
		Dividends		(22,937,000	)		(20,771,000	)
				(11,972,000	)		(28,557,000	)
Cash flows from investing activities:
	Expenditures for plant assets			(67,476,000	)		(66,563,000	)
	Payments for businesses acquired			(74,436,000	)		(49,863,000	)
	Proceeds from the sale of businesses and other			578,000			1,924,000
				(141,334,000	)		(114,502,000	)

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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (continued)
(Unaudited)

Nine Months Ended	September 28, 2003		September 29, 2002
Net increase in cash and cash equivalents		2,059,000		7,529,000
Cash and cash equivalents at the beginning of the period		44,494,000		46,900,000
Cash and cash equivalents at the end of the period	$	46,553,000	$	54,429,000

Teleflex At A Glance:

Teleflex is a diversified industrial company with annual revenues of more than $2 billion. The company designs, manufactures and distributes quality engineered products and services for the aerospace, medical, automotive, marine and industrial markets worldwide. Teleflex employs more than 18,000 people worldwide who focus on providing innovative solutions for customers. Additional information about Teleflex, including a recent archived conference call with analysts and investors, can be obtained from the company’s website on the Internet at www.teleflex.com.

Forward-looking information:
Statements in this news release, other than historical data, are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties that may cause actual results to differ from those contemplated in the statements. These factors are discussed in the company’s Securities and Exchange Commission filings.

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