FUNDING

Smiths Group PLC
11 July 2005



               SMITHS SUCCESSFULLY SECURES FUNDING OF £730MILLION


Smiths Group today announced that it had successfully raised £660million under a
multi-currency revolving credit facility for five years with the possible
extension for a further two years at the option of the banks.  The transaction
was originally launched for £600million, but when oversubscribed, was increased
to £660million.  The facility was raised for general corporate purposes and will
be partly drawn initially, replacing other short-term bank funding.



In addition, Smiths Group has secured funding of £70million from the European
Investment Bank to underpin the group's research and development activities
within Europe over a five year period.



'These facilities provide Smiths with a solid medium term flexible finance
package that underpins our business, and in particular, our commitment to
research and development,' said Alan Thomson, Financial Director. 'In addition,
our financing obligations are now well spread over the next ten years through a
variety of public market and bank debt,' commented Peter Mason, Director,
Corporate Finance.



The revolving credit facility was raised equally from eleven financial
institutions each mandated as joint lead arrangers.  The facility was led by
Smiths Group Treasury, with coordination from Barclays Capital and BNP Paribas.
Legal Advisers were Allen & Overy and Barclays Capital act as Facility Agents.



Smiths' €300million Eurobonds mature on 18 July 2005 and will be repaid out of
the group's general finance facilities.



About Smiths Group

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



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Contact:



Media
Chris Fox
Tel: [phone]



Investor Relations
Russell Plumley
Tel: [phone]



Corporate Finance
Peter Mason
Tel: [phone]




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