Disposal

Hill & Smith Hldgs PLC
26 February 2003



                   Hill & Smith Holdings PLC ('Hill & Smith')

   Announces Disposal of its Pressure Measurement and Calibration Activities



Further to its announcement of 13 February 2003, the Board of Hill & Smith today
announces the sale of the business and certain assets and liabilities of the
pressure measurement and calibration activities of its subsidiary, SI Pressure
Instruments Limited ('SI'), to GE Druck Holdings Limited, a subsidiary of GE
Industrial Systems Inc.


The consideration receivable by Hill & Smith will be £3.0m, which will be paid
in cash, £1.5m on exchange and a further £1.5m on 9 May 2003. A further
balancing payment may be made subject to the completion accounts which will be
finalised as soon as is practically possible following completion, which is
expected to be no later than 30 June 2003.


In the year ended 31 December 2001, SI reported a loss before tax of £0.02m. As
at 30 June 2002 the net assets disposed of amounted to £1.1m.


The sale of SI by Hill & Smith is in line with its strategy of divesting from
non-core businesses. The net disposal proceeds will be used to reduce Group
borrowings and to fund expansion opportunities in its core infrastructure
businesses supplying the building and construction sector.





Enquiries

Hill & Smith Holdings PLC:

David Grove Chief Executive: 0121 704 7430 / 07973 325 667


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