SAR - Time Products PLC

Guinness Peat Group PLC
16 May 2001

TIME PRODUCTS PLC
DISCLOSURE UNDER RULE 3 OF THE SUBSTANTIAL ACQUISITIONS 
RULES OF THE CITY CODE ON TAKEOVERS & MERGERS

Guinness Peat Group plc and its subsidiary companies ('GPG') announces that it
has made the following purchase of ordinary 10p shares ('Shares') in Time
Products plc:

Date         Number        Price        Interest       Percentage of
                                                       Issued Shares
15.05.01     425,000       £1.87        10,812,559         25.77

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.