Disposal

Smiths Group PLC
30 January 2002


Smiths Group agrees £215 million sale of marine business

Smiths Group has signed a definitive agreement for the sale of its John
Crane-Lips marine business to Wartsila Corporation of Finland, for £215 million
(€350m)  in cash.



Keith Butler-Wheelhouse, chief executive of Smiths Group commented: 'This sale
is important to our Sealing Solutions division, now concentrating on its John
Crane and Polymer Seals businesses where we have world-leading market positions.
John Crane-Lips will realise its full potential alongside the complementary
marine activities of Wartsila.  The process of focusing the activities of Smiths
will continue.'



John Crane-Lips is a supplier of marine propulsion systems, seals and bearings,
with a strong aftermarket activity covering replacement seals, servicing and
repairs.  It had sales of £152m in the year to 31 July 2001, earning operating
profits of £18.7m. Net assets are £52m.  The business employs 1,200 people in
Holland, Japan, Norway, the UK and USA.



Completion of the sale is subject to regulatory approvals and the consideration
will reduce Smiths current level of borrowings, with the company continuing its
programme of acquisitions.  This transaction brings the proceeds of disposals by
Smiths since January 2001 to more than £280 million.



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.



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



Press enquiries to:
Russell Plumley or Richard Bayliss
Tel: [phone]





                      This information is provided by RNS
            The company news service from the London Stock Exchange

DISIIFFDLEIIVI