Disposal

Smiths Group PLC
13 November 2001



Smiths Group discussing sale of the
John Crane-Lips marine business to Wartsila

Smiths Group and Wartsila Corporation announce that they are in exclusive
discussions regarding a possible sale by Smiths Group of the John Crane-Lips
marine business, to Wartsila.

Wartsila and John Crane-Lips entered into a strategic alliance in October 2000
to provide total marine propulsion power systems through the Wartsila network.
The acquisition of John Crane Lips would enhance Wartsila's position as the
leading global ship power supplier. The acquisition would generate additional
sales of more than EUR 200 million for the Marine & Licensing division of
Wartsila.

A definitive sale agreement would be subject to the approval of relevant
authorities. Further announcements will be made as and when appropriate.

John Crane-Lips is a supplier of integrated marine propulsion systems and
marine seals and bearings. It employs 1,300 people in Holland, the UK, Norway,
Japan and the USA. The company is profitable.

Wartsila is the leading global ship power supplier and a major provider of
decentralised power generation systems and of supporting services.

Smiths Group is a global business with market leading positions in aerospace
systems, sealing solutions, medical devices and interconnect products. Further
information is available on its website: www.smiths-group.com.

-ends-

Press enquiries to:
Mikael Makinen
Group Vice President, Marine Division
Wartsila Corporation
Tel: [phone]

Richard Bayliss
Public Relations Executive
Smiths Group
Tel: [phone]