AGM Statement - 'New Record of Performance'

Smiths Industries PLC
16 November 1999


SMITHS INDUSTRIES ANNUAL GENERAL MEETING,
CHAIRMAN'S STATEMENT

Speaking at the AGM held at 12:00 noon today at the company's HQ, Keith
Orrell-Jones, Chairman of Smiths Industries said:


'I am pleased to report that the company has again produced results which set
a new record of performance. Pre-tax profits increased by 10%, and the Board
proposes that the dividend should be increased by 10% - the 29th consecutive
year in which we shall have increased the pay-out to our shareholders. I was
particularly pleased to see a mixture of organic sales growth, acquisitive
growth and the continuing drive for productivity.


'As I said in the Annual Report, I can confirm that the company continues to
perform very smoothly. Our balance sheet is strong and allows us to maintain
our successful acquisition strategy. The management is properly focused on
driving the existing business forward in a way that will deliver excellent
returns for shareholders, and it is this performance which I believe will
continue to make Smiths Industries an attractive investment. With the first
quarter of the year behind us, the company is on course to achieve another
year of good progress for shareholders, with increased profits and earnings
per share.


'I would like to take this opportunity to welcome Peter Hollins, who joined
the Board as a non-executive in February this year, to his first AGM. Peter is
Chief Executive of British Energy, and his experience is already proving to be
valuable at our meetings.'


Issued by: Russell Plumley
Tel: [phone]