Disposal

Smiths Group PLC
04 December 2002


Smiths sells Air Movement and Cable businesses for £125 million

Smiths Group has today sold its Air Movement and Cable Management businesses,
part of the Industrial division, for £125 million in cash.  The buyer is HSBC
Private Equity.

Commenting on the disposal, Keith Butler-Wheelhouse, chief executive of Smiths,
said:  'This sale,  which includes some businesses with a long association with
Smiths, is a further step in the strategic re-focusing of Smiths Group. We have
concluded the deal at the same time as completion of the Heimann Systems
acquisition, further demonstrating our drive to match buys and sells where
possible.'

The Air Movement and Cable businesses have combined sales of £105 million and
their principal operations are in the UK, employing some 970 people.

The Air Movement businesses supply high quality ventilation equipment for
commercial, domestic and industrial applications. The trading names include
Vent-Axia, Torin and Sifan Systems. The Cable Management businesses supply
conduit systems, cable glands and other electrical control accessories, under
the trading names Adaptaflex, Elkay and Kopex.

Smiths Group was advised by KPMG Corporate Finance and Allen & Overy.

Smiths Group has market leading positions in aerospace systems, medical devices,
mechanical and polymer seals, and interconnect products. For further
information, visit www.smiths-group.com

NOTE The acquisition of the X-ray detection business Heimann Sysytems was
announced Mon 02 Dec; visit web site above for details .

Enquiries :

Media: Bernard Carey 020 8457 8403.      Investors: Russell Plumley 020 457 8203

(Jason Gatenby HSBC)



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