Acquisition

Hunting PLC
24 July 2001


                               HUNTING PLC
                               ACQUISITION

Hunting PLC announces the acquisition of Performance Drilling Wyoming (PDW)
and Performance Boring Technologies, Inc. (PBT) for £2.7m (US $3.9m) The
combined turnover and operating profit for the year to 31 May 2001 was £1.7m
(US $2.4m) and £0.3m (US$0.5m) respectively.  The net assets acquired are
£1.0m (US $1.4m).

PDW and PBT, privately owned companies based in Casper, Wyoming, USA
manufacture and rent mud motor products used in the drilling of hard rock
formations using near-bit sensing technology.  This allows drilling
contractors to perform difficult rock boring using traditional dirt drilling
methods and techniques.

Dennis Proctor, Chief Executive of Hunting PLC, said:

'We are pleased to add to our growing line of products and services.  Hunting
has long been the leader in providing tubular goods to a variety of
industries, including oil and gas drilling, utilities and fibre-optic
communications.  With this acquisition, we can help our customers to meet
their drilling as well as their tubular needs.'


Enquiries:

Dennis Proctor, Chief Executive                001-281-442-7382
Dennis Clark, Finance Director                 020-7321-0123