Disposal

Hunting PLC
12 May 2004



12 May 2004

                            Hunting PLC ('Hunting')
 
                   Disposal of tubular assets in the US


The Board of Hunting announces that it has agreed to dispose of certain tubular
assets of its Hunting Energy Services division to Sooner Pipe Inc., a subsidiary
of Oil States International, Inc., for a cash consideration of approximately
US$45 million (£25 million).

Hunting is disposing of its oil country tubulars in diameters of 5 inches and
above but will continue, in the US, to supply oil country tubulars in diameters
below 5 inches for premium tubing in oil and gas wells. This agreement applies
only to distribution in the US as Hunting will continue its profitable tubular
activities in Canada, Europe, China and South East Asia.

The value of the assets being divested is approximately US$45 million (£25
million). In the year ended 31 December 2003, the assets generated a loss of
US$1.3m (£0.8 million).

Dennis Proctor, Chief Executive of Hunting, commented: 'The casing tubulars of
which we are divesting are used primarily in deep water, Gulf of Mexico
completions and this market has been depressed for the last two years. In our
annual report, we set out our strategy to allocate resources towards activities
providing better returns and reducing debt. The transaction will enable us to
reduce debt whilst retaining the higher returns generated by our premium tubing
assets.'

Enquiries:

Hunting PLC
Dennis Proctor                           001 281 442 7382 (Houston)
Chief Executive
Dennis Clark                             020 7321 0123
Finance Director

Hogarth Partnership Limited
Andrew Jaques                            020 7357 9477
Edward Westropp


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