EXHIBIT 99.1

TERADYNE ANNOUNCES COMPLETION OF $400 MILLION CONVERTIBLE SENIOR NOTES OFFERING

BOSTON, MA --- OCTOBER 24, 2001 - Teradyne, Inc. (NYSE: TER) announced today
that it completed its offering of $400 million of 3.75% Convertible Senior Notes
due 2006. This amount reflects the exercise of a $50 million over allotment
option by the initial purchasers of the Notes. These Notes shall be convertible
into Teradyne, Inc. common stock at a conversion price equal to $26.00 per
share. The Notes are redeemable by Teradyne at any time after October 18, 2004
at specified prices. Teradyne has agreed to file a registration statement for
the resale of the Notes and the shares of common stock issuable upon conversion
of the Notes within 90 days after closing of the offering.

The Notes and the common stock issuable upon conversion of the Notes have not
been registered under the Securities Act of 1933, as amended, or applicable
state securities laws, and may not be offered or sold in the United States,
absent registration or an applicable exemption from the registration
requirements of the Securities Act of 1933, as amended, and applicable state
securities laws.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities. This press release is being issued pursuant to and
in accordance with Rule 135c under the Securities Act of 1933, amended.

SAFE HARBOR STATEMENT

Statements in this release, other than historical performance, include
forward-looking statements relating to future financial performance made under
the Safe Harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that all forward-looking statements involve risks
and uncertainties that may cause actual results to differ materially from
expectations. In particular, our business is dependent on the current and
anticipated market demand for electronics, which has been impacted by the
economic slowdown that began in the latter portions of 2000 and by the terrorist
attacks of September 11, 2001. While in the past our diverse businesses have
allowed us to perform better than some companies in periods of economic decline,
there is no guarantee that this will be the case currently. In addition, the
markets that Teradyne serves have historically been quite cyclical, and they are
currently in a period of oversupply. Further, our backlog has and may continue
to be affected as customers continue to defer or cancel orders, which previously
had been accepted. Both of these factors could result in further decreased
revenues. Our business is also affected by our ability to develop and ship new
and sometimes more complex products to address changing customer needs, by new
offerings by competitors and by intense competition throughout the world in each
of our operating segments from competitors having substantial resources
available for the engineering, manufacturing, marketing and distribution of
their products. The economic decline and the resulting oversupply could increase
the possibility of intensified price competition in certain markets and result
in the need to lower our prices, which could result in decreased revenues. In
addition, our






pending acquisition of GenRad, Inc. could affect our ability to
manage and maintain our business. Finally, our ongoing and recently announced
expense control measures may not have the intended effect on our future
financial results. These measures could have long-term effects on our business
by reducing our pool of technical talent, decreasing improvements in our
products and making it more difficult for us to respond to large customer orders
if the economy does not recover. Teradyne undertakes no obligation to update the
information contained in this release. For further information regarding risks
and uncertainties associated with Teradyne's business, please refer to
Teradyne's filings with the Securities and Exchange Commission, including, but
not limited to, Teradyne's annual report on Form 10-K and quarterly reports on
Form 10-Q. Any forward-looking statements should be considered in light of all
these factors.