SAR - Time Products PLC

Guinness Peat Group PLC
18 May 2001


TIME PRODUCTS PLC
DISCLOSURE UNDER RULE 3 OF THE SUBSTANTIAL ACQUISITIONS
RULES OF THE CITY CODE ON TAKEOVERS & MERGERS

Guinness Peat Group Plc and its subsidiary companies ('GPG') announces that it
has made the following purchases of ordinary 10p shares ('Shares') in Time
Products Plc:

  Date           Number        Price          Interest        Percentage of
                                                              Issued Shares

17.05.01        100,000        £1.86        11,392,559             27.16
17.05.01         75,000        £1.855       11,467,559             27.33

So far as the Group is aware, no person interested in the Shares is party to any
agreement or arrangement relating to the exercise of any rights conferred by
holding the shares subject to this notification.