SAR - Time Products PLC

Guinness Peat Group PLC
1 March 2001


            Disclosure of Interest in Shares Pursuant to Rule 3 of
            The Rules Governing Substantial Acquisitions of Shares

Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify
Time Products plc ('Time') that following the purchase on market of 2,000,000
ordinary 25p shares in Time ('Shares') on 28 February 2001 the Group's interest
in the Shares now amounts to 7,493,559 Shares representing 17.86% of the issued
share capital.

So far as the Group is aware, no person interested in the Shares is party to any
agreement or arrangement relating to the exercise of any rights conferred by
holding the Shares subject to this notification.