15 April 2002

Smiths Group completes sale of marine seals business

Smiths Group has completed the sale of its marine seals business (formerly John Crane-Lips) to Wartsila Corporation of Finland, for 215 million. The terms of the deal are as announced on 30 January. The consideration has been received and this has reduced the company's current level of borrowings to approx. 900m.

ENDS