Acquisition

Hunting PLC
20 March 2001

Hunting PLC
Acquisition of Vinson

Hunting  announces that it has acquired substantially all  the
operating  assets  of Vinson Supply Company, Composite  Thread
Protectors,  Inc. and Vinson Supply (UK) Limited (collectively
'Vinson')  for US $38 million (approximately £27  million)  in
cash,  which  is subject to an adjustment to be made  for  the
level  of  net assets at completion. It is estimated that  the
net  assets of Vinson at completion will be approximately  $47
million (approximately £33 million), which would result  in  a
further    cash   payment   of   approximately   $12   million
(approximately £8 million) being payable on agreement  of  the
completion  accounts. The increase in net  assets  is  due  to
Vinson  building up inventory to meet identified increases  in
customer activity.

Vinson  is  one  of the largest distributors  of  oil  country
tubular  goods  to the oil and gas exploration  industry.  Oil
country  tubular goods are steel pipes in 1' to 24'  diameters
and  lengths  of 30 to 40 feet used in oil and gas exploration
to  convey  oil  and gas from the producing reservoir  to  the
wellhead  surface. Vinson has a number of key  customers,  the
largest  being  Chevron  that  has  had  a  global  purchasing
contract  with  Vinson since 1992. Hunting  Oilfield  Services
(International) Limited ('HOSINT') and Vinson  currently  work
together  in  various  customer alliances  and  with  Vinson's
relationship with a number of US steel mills, Hunting believes
the  combined operation will become one of the world's largest
suppliers  of  oil country tubular goods to the  oil  and  gas
industry.

In  the  year ended 31 December 1999, Vinson achieved turnover
of   US  $135  million  (approximately  £94  million)  and  an
operating loss of US $5.6 million (approximately £3.9 million)
from net assets of US $23 million (approximately £16 million).
Following  an  improvement  in  the  level  of  oil  and   gas
exploration  activity, there was a substantial improvement  in
Vinson's performance in 2000.   Vinson is expected to generate
a  level of profitability which will underpin the level of the
consideration and the acquisition is expected to  be  earnings
enhancing in the current year.

Dennis Proctor, Chief Executive of Hunting, said:

'Vinson  is  an  excellent business which fits well  with  our
existing oil services businesses. I am delighted that we  have
now   completed  this  acquisition  which  I  believe   is   a
significant step in the development of Hunting as  a  focused
major oil and gas services group.'

Enquiries:                      
                                
Hunting PLC                     
Dennis Proctor, Chief           020 7321 0123
Executive
Dennis Clark, Finance Director  
                                
Close Brothers Corporate        
Finance Limited
Andrew Cunningham               020 7655 3100
                                
Brunswick Public Relations      
Derek Bainbridge                020 7404 5959