Disposal

Hunting PLC
12 July 2001


                             Hunting PLC
           Disposal of Hunting Engineering Limited('HEL')

Hunting PLC ('Hunting') announces the proposed disposal of HEL to INSYS Group
Limited ('INSYS'), a newly formed private company owned by ABN Amro Capital
and certain of the directors of HEL.

HEL is a defence contractor, specialising in the design and development of
weapon systems, integration and installation of military communication systems
and provision of battlefield infrastructure.

The consideration payable by INSYS for HEL is £42.3 million in cash, subject
to an adjustment for the level of net assets at completion.  Net assets at
completion are expected to be in the region of £36.8 million, including cash
of approximately £8.9 million. In the year ended 31 December 2000, the profits
generated by the assets being disposed of were £3.0 million on sales of £176.5
million. After costs, provisions and goodwill, Hunting expects to
make a small exceptional loss on the disposal.

Completion of the disposal is conditional on obtaining clearances from the
European Commission and other regulatory authorities and the formal completion
of funding arrangements that are already in place.

The sale of HEL will successfully conclude the disposal of Hunting's Defence
Division and the transformation of Hunting into a focused oil services group.
The aggregate proceeds from the disposal of the component parts of the Defence
Division will be in excess of £100 million following completion of the sale of
HEL. The proceeds will be used to enable Hunting to take advantage of the
opportunities for its oil services businesses.

Richard Hunting, Chairman of Hunting PLC, said:

'I am pleased to announce agreement on the sale of Hunting Engineering
Limited, completion of which will mark the successful conclusion of our exit
from the defence sector. The disposal of the defence division has generated
significant proceeds for Hunting and we can now concentrate all our attention
on the opportunities which we see in oil services.'

Enquiries:                                                    
                                                              
Ken Miller, Deputy Chairman      Hunting PLC                  020 7321 0123
Dennis Clark, Finance Director                                
                                                              
Andrew Cunningham                Close Brothers Corporate     020 7655 3100
                                 Finance Limited
                                                              
For Hunting PLC:                                              
Derek Bainbridge                 Brunswick Group Limited      020 7404 5959
                                                              
For INSYS/ ABN Amro Capital:                                  
Fergus Wheeler                   Financial Dynamics           020 7269 7259


Notes to Editors:

Founded in 1874, Hunting PLC is an international oil services company
providing support solutions to the world's largest oil and gas companies.
Hunting was previously comprised of two operating divisions: Defence and Oil. 
In the year ended 31 December 2000, the company had turnover of £1.2 billion
and profit before tax of £33.4 million (1999: £30.1 million).



Close Brothers Corporate Finance Limited, which is regulated by The Securities
and Futures Authority Limited, is acting for Hunting and no-one else in
connection with the matters referred to in this announcement and will not
be responsible to anyone other than Hunting for providing the protections
afforded to customers of Close Brothers Corporate Finance Limited or for
providing advice in relation to the matters referred to in this announcement
or any transactions referred to herein.