Results of Tender Offer

Guinness Peat Group PLC
6 April 2001


                   GUINNESS PEAT GROUP plc
                              
        TENDER OFFER FOR SHARES IN TIME PRODUCTS PLC


Guinness Peat Group plc ('GPG') announced on 28 March 2001 a
Tender Offer to purchase up to 4,950,000 ordinary shares  of
10  pence  each  ('Shares')  in  Time  Products  plc  ('Time
Products') ('the Tender Offer').

Following  the  close  of the Tender Offer  at  3.00  pm  on
Friday, 6 April 2001, tenders totaling less than 1%  of  the
voting   rights   of  Time  Products  had   been   received.
Consequently the Tender Offer is void.

Forms  of  tender, which cease to have any effect,  together
with  certificates  and other documents  of  title  will  be
returned  by  post by Friday, 20 April 2001 or,  where  Time
Products  ordinary  shares are held in uncertificated  form,
Computershare  Services PLC will give  TFE  instructions  to
CRESTCo  to transfer all Time Products ordinary shares  held
in  escrow balance to the original available balances of the
Time  Products  shareholder concerned by  Friday,  13  April
2001.