Acquisition

Smiths Group PLC
2 December 2001


Smiths acquires US specialist in communications test equipment

Smiths Group has acquired Summitek Instruments Inc. a leading U.S. supplier of
interference test equipment used by the wireless telecoms industry. Smiths has
paid $10 million in cash for the privately owned business, and has agreed
performance related incentives linked to profit targets in each of the next
three years. In the year to 30 June 2001, Summitek had sales of $8.2 million
with over 50 per cent generated outside the USA.

The acquisition of Summitek expands the activities of Smiths Industrial in
specialised products for electronic and microwave applications in the
aerospace, space, defence and communications sectors.

Summitek has developed a technology that tests for interference caused by
passive intermodulation, in components such as cables, connectors and filters
within radio transceivers. Summitek currently offers the only commercially
available analyser of its type for this purpose, supplied to wireless
component and equipment manufacturers for use during their production process.

The company has recently launched a second product line, a portable analyser
for cellular communications service providers and tower operators, enabling
them to identify sources of interference in and around base stations.  The
device can also be used to aid site planning and selection. Interference is a
problem that is escalating as a consequence of the growth of digital cellular
networks and the trend to co-location of different operators' equipment on
existing masts.  Interference impacts the quality of service for users and
decreases the number of revenue-earning calls that can be carried at each base
station.


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