Completion of Recent Acquisitions

Smiths Industries PLC
31 January 2000


Smiths Industries adds to its US Interconnect activities
and confirms completion of recent acquisitions

Smiths Industries has further expanded its interconnect activities, with its
third North American acquisition in this sector since November. For $11
million, payable in cash, the company is acquiring LEA International Inc, a
brand-leader in surge suppression devices which protect electronic equipment
from power surges, such as those caused by lightning strikes. 

This latest deal follows the recent announcements of agreements to acquire the
Interconnect businesses Sabritec and EMC Technology, plus the aerospace
division of Invensys plc. Acquisitions during the last two months represent a
£174m ($281m) investment by Smiths Industries.

Commenting on the company's acquisition programme, chief executive Keith
Butler-Wheelhouse said: 'In the three years I have been with Smiths
Industries, we have stepped up the rate of our expansion and invested £500
million on a series of complementary acquisitions. Together, these have
changed Smiths Industries' profile.  It is a strategy which has proved highly
successful and will continue.'

LEA International develops and manufactures transient voltage surge
suppression products for residential, commercial and industrial use. The rapid
growth of digital telecoms, Internet connections, and wireless systems in
these markets means that protection of the sensitive equipment is becoming
vital.  The resulting demand for advanced surge protection systems is now
enjoying double digit growth rates. 

Within Smiths Industries' growing Interconnect product area, LEA becomes the
latest addition to a cluster of businesses which focus on systems protection,
operating alongside Polyphaser, Transtector and EMC Technology,  all US-based
businesses which were acquired during the past three years.

Completion of the acquisition of LEA was simultaneous with the signing of the
acquisition agreement and Smiths Industries also confirms that the
acquisitions of Sabritec, and the aerospace division of Invensys plc,
announced in December, have been completed.  Completion of the acquisition of
EMC Technology, announced earlier this month, is expected during February.

Smiths Industries is a world leader in advanced electronic and electrical
systems for the aerospace industry; single-use devices and critical care
equipment for the healthcare sector; and specialist products for the
interconnect and air handling markets.