Trading Statement

Smiths Group PLC
08 August 2007

                     Smiths Group: Year-end trading update

Smiths, the global technology company, will report its preliminary results for
the year ended 31 July on Wednesday, 26 September.  Ahead of that announcement,
the company is providing the following update on trading in financial 2007.

Headline profit before tax for the continuing activities is expected to be some
7% ahead of the prior year level of £316m, benefiting from lower interest
expense and improved pensions financing.  Year-end net debt is expected to be
below £600m.

With more than half of Smiths continuing activities based in North America, the
decline in the average dollar/sterling exchange rate by 16 cents between 2006
and 2007 will impact reported sales and headline operating profit by some 6%.
As a result, headline operating profit is expected to be at around the same
level as the prior year's £345m.

On an underlying basis, Detection and Specialty Engineering have generated good
sales and profit growth, in line with management expectations.  Sales in Medical
have been held back by the operational factors disclosed at the interim stage,
although margins have improved.  With relocation to lower cost manufacturing
centres now on plan and capacity constraints resolved, Medical's output rates
were closer to normal levels by the year-end.

The EGM seeking shareholder approval for the formation of Smiths GE Detection is
likely to be held in the fourth quarter of calendar 2007.

Smiths expects to achieve underlying growth from all of its divisions in the new
financial year, although reported growth will be held back by the recent further
weakness of the US dollar.

The company will hold a conference call for analysts and investors at 10.00am
this morning.  The dial-in number is [phone], and the access code is
Smiths.  From 12.30pm, a recording of the call can be heard on [phone]
8402, and the access code is 2060.  Extracts of the 2006 income statement for
the continuing activities, which were published in the interim accounts, can be
seen at http://www.smiths.com/ir.htm.

Smiths is a global technology company, listed on the London Stock Exchange.
Smiths Group is a world leader in the practical application of advanced
technologies.  Its products and services make the world safer, healthier and
more productive.  Smiths Group has three divisions focused on the high growth
detection, medical devices, energy and communications markets.  It employs more
than 20,000 people in over 50 countries.  For more information visit
www.smiths.com.


                                      -o-

Investor Relations                                  Media
Russell Plumley                                     Chris Fox
[phone]                                 [phone]
[e-mail]                          [e-mail]




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