SAR - Time Products PLC

Guinness Peat Group PLC
17 May 2001


TIME PRODUCTS PLC
DISCLOSURE UNDER RULE 3 OF THE SUBSTANTIAL ACQUISITIONS 
RULES OF THE CITY CODE ON TAKEOVERS & MERGERS


Guinness Peat Group plc and its subsidiary companies ('GPG') announces that it
has made the following purchases of ordinary 10p shares ('Shares') in Time
Products plc:

Date          Number          Price          Interest         Percentage of
                                                              Issued Shares

16.05.01      200,000         £1.87          11,012,559            26.25
16.05.01       30,000         £1.87          11,042,559            26.32
16.05.01      200,000         £1.87          11,242,559            26.80
16.05.01       50,000         £1.87          11,292,559            26.92

So far as the Group is aware, no person interested in the Shares is party to any
agreement or arrangement relating to the exercise of any rights conferred by
holding the shares subject to this notification.