Final Results - Amendment

Hunting PLC
22 March 2001


The issuer has made the following amendment to the Final Results
announcement released 22nd March 2001 at 07:00am under RNS No 8829A.

The record date for the dividend (30th March 2001) was omitted from original
announcement.

All other details remain unchanged.

The full corrected version is shown below.
-------------------------------------------------------------------

Preliminary Results


Hunting PLC today announces preliminary results for the year ended 31
December 2000.  During the financial year it announced its decision to focus
the future development of the Group on its oil services businesses and to
sell the Defence Division.   The divestment of HTS and HCS was completed in
March 2001 and the remaining two sales are under negotiation.  The purchase
of Vinson, a US tubular distributor, was announced on 19 March 2001.

Highlights of the year include:

*   Profit before tax up 11% to £33.4 million (1999: £30.1 million)
    
*   Turnover up 16% to £1.22 billion (1999: £1.05 billion)
    
*   Basic earnings per share up 15% to 11.5p (1999: 10.0p)
    
*   Strong performance driven by the excellent results from oil services:

    -   Divisional Operating Profit up 268% to £35 million (1999: £9.5
        million)
    -   Divisional Turnover up 72% to £879 million (1999: £512 million)
    -   Positive outlook for oil services
        
Commenting on the results Dennis Proctor, who was appointed Chief Executive
on 1 January 2001, said:

'2000 was a significant year for Hunting PLC.  The decision to concentrate
the future on oil services coupled with my appointment signifies our
commitment to grow rapidly in this market sector.  The surge last year in
oil and gas exploration looks to increase even more in 2001.  I am confident
that our businesses are capable of generating good growth in 2001 and
subsequent years.'

Enquiries to:-

Hunting PLC                                     020 7321 0123
Dennis Proctor, Chief Executive                 
Ken Miller, Deputy Chairman                     
Dennis Clark, Finance Director                  
                                                
Brunswick Group Limited                         020 7404 5959
Sara Musgrave                                   

OVERVIEW

Profit before taxation for the year to 31 December 2000 was £33.4 million,
an 11% increase on 1999. This follows a strong recovery in the oil and gas
markets in which we operate.

We announced at the AGM in April 2000 that we planned to concentrate the
future of the company on oil services and that we would be reviewing options
for the Defence Division.  After a comprehensive review of the alternatives,
we decided to divest the Division in its component parts and we concluded
the first sale in early March 2001 of Hunting Contract Services and Hunting
Technical Support which were sold to Babcock International Group PLC for
£60.9 million. The other sales under negotiation are the Irvin businesses in
the UK, US and Canada and Hunting Engineering. We will be retaining Irvin
Italy which has a different product range and market to the rest of the
Irvin group, until new management changes have been fully implemented. We
will make further announcements when these sales have been concluded.

Your Board recommends a final dividend of 6.25p per share, giving a total
for the year of 9.25p, the same as that paid in respect of 1999.

RESULTS

Sales in 2000 increased to £1,216 million from £1,052 million in 1999.
Excluding the AWE contract which ceased on 31 March 2000, sales increased by
55% over 1999.

Operating profit increased 17.4% to £41.9 million from £35.7 million with a
significantly improved contribution from the Oil Division of £35.0 million
compared with £9.5 million in 1999.

OIL DIVISION

Turnover in the Oil Division of £879 million was 72% up due to the improved
conditions and higher oil and gas prices. Operating profit at £35.0 million
was 268% ahead of 1999's level.

Stronger prices pertained throughout the year for both crude oil and natural
gas. This helped to improveed activity levels in most parts of the world,
although the North Sea did not experience an upturn until well into the
second half of the year.

Increased activity following the return of confidence brought by improved
oil prices gave rise to a substantial improvement in HOSINT and continued
growth in Gibson Petroleum. The acquisition of Iberia Threading Inc. for
£23.1 million in January 2000 made an excellent contribution to this
improved result.

DEFENCE DIVISION

Sales reduced to £337 million from £540 million. Excluding the AWE contract,
there was an increase to £265 million from £226 million as a result of the
completion of the construction phase of the TFA contract in Kosovo.

Operating profits reduced to £6.9 million from £24.4 million.  Excluding the
AWE contract, operating profits fell to £4.6 million from £7.9 million.
Further provision for the TFA contract and reorganisation and restructuring
costs in Irvin Italy masked an otherwise satisfactory result from the
Division.

FINANCIAL

Operating cash flow improved to £60.2 million in 2000 from £16.9 million in
1999, reflecting  the operating profit earned in the year as adjusted for
depreciation and goodwill amortisation and a limited movement in working
capital.  Capital spend on tangible fixed assets was £21.7 million (1999 -
£14.9 million), of which £19.8 million was in the Oil Division.
Acquisitions accounted for £28.9 million (1999 - £13.0 million), which
included £23.1 million on Hunting Iberia Inc.

At 31 December 2000, gearing, based on net borrowings as a percentage of
shareholders funds and minority interests, was 55% (1999 - 42%).  The
gearing as of this date after adjusting for the subsequent sales of HCS and
HTS and the acquisition of Vinson, announced on 20 March 2001, would have
been 35%.

Shareholders' funds, including minority interests, increased to £182.8
million from £176.8 million. A revaluation of Group properties at 31
December 2000 contributed to this increase with a £3.9 million surplus.

On 30 June 2000 the 6% Cumulative Preference Shares of £1 each were
cancelled and repaid reducing the Company's issued share capital by £0.7
million.

The interest charge for the year of £8.5 million (1999 - £5.6 million) was
4.9 times covered.

The tax charge for the year of £12.8 million represents an effective rate of
38.5%. Strong results in Canada and the US where there are higher tax rates
than in the UK and lower profits in the UK contributed to the increase from
the rate of 29% in the previous year.

Basic earnings per share were 11.5p (1999 - 10.0p) on an average of 100.2
million shares outstanding during the year. The proposed final dividend of
6.25p per share, payable on 3 July 2001 together with the interim dividend
of 3.0p which was paid on 3 January 2001, gives a maintained dividend of
9.25p per ordinary share which is 1.2 times covered.  This dividend is payable
to shareholders on the register at 30 March 2001.

BOARD

Dennis Proctor was appointed as Chief Executive on 1 January 2001. Dennis,
aged 48 is a US citizen and has extensive experience in the oil services
industry, the area in which we are now concentrating. He joined the Group in
1993 and was appointed a Director in July 2000.

Ken Miller has taken the position of Deputy Chairman with particular
responsibility for disposing of our Defence businesses.  Ken plans to retire
later in 2001, having reached his retirement date. The Board would like to
thank him for his contribution and vision as Chief Executive of the Company
since its formation in 1989 and throughout the time since he joined the
Hunting organisation in 1961.

Roger Whysall, chief executive of the Defence Division since 1998, will,
following the restructuring, be leaving to pursue other opportunities at the
end of April 2001. Roger has been with us since 1977 and I want to thank him
for his work in both managerial and strategic terms in that time.

Terry Gomke, who since 1995 has been the chief executive of Gibson
Petroleum, our Canadian oil services subsidiary, joined the board during the
year as did Iain Paterson who was appointed a non-executive Director. Iain
has considerable experience in the energy industry with BP and subsequently
on the Board of Enterprise Oil.

STRATEGY AND PROSPECTS

The cash generated from the sale of the Defence activities will be used to
pursue an active growth strategy for our oil services businesses. The
acquisition of Vinson, a US tubular distributor, was completed on 19 March
2001 for an estimated consideration of US $50 million (approximately £35
million).  This will complement and significantly augment Hunting Oilfield
Services' (HOSINT) operations.  Other acquisition targets for both HOSINT
and Gibson Petroleum have been identified.

Although the price of crude oil reduced in December 2000 and into 2001, its
current and forecast level should over the next few years support a high
level of activity on a global basis.  The price of natural gas remains at a
very high level and much of the drilling emphasis of our customers is
slanted towards gas.

With the expansion opportunities available to Hunting, the Board is
confident of generating good growth in 2001 and subsequent years.


Consolidated Profit and Loss Account
For the Year ended 31 December 2000

                                      Note          2000           1999
                                                      £m             £m
Turnover                                                               
Continuing operations, including                                       
share of joint venture                           1,192.5        1,053.7
Less: share of joint venture                       (2.5)          (2.1)
                                               _________      _________
                                                 1,190.0        1,051.6
Acquisitions                                        25.9              -
                                               _________      _________
Group turnover                        1          1,215.9        1,051.6
Cost of sales                                  (1,090.1)        (907.7)
                                               _________      _________
Gross profit                                       125.8          143.9
Net operating expenses                            (86.0)        (110.2)
                                               _________      _________
Continuing operations                               33.9           31.9
Acquisitions                                         5.9              -
                                               _________      _________
                                                    39.8           31.9
Discontinued operations                                -            1.8
                                               _________      _________
Group operating profit                              39.8           33.7
Share of operating profit in joint                                     
venture and associated undertakings                  2.1            2.0
                                               _________      _________
Total operating profit                1             41.9           35.7
Interest receivable and similar                                     2.0
income                                               3.6
Interest payable and similar charges                                   
                                                  (12.1)          (7.6)
                                               _________      _________
Profit on ordinary activities before                                   
taxation                                            33.4           30.1
Taxation on profit on ordinary                                         
activities                                        (12.8)          (8.7)
                                               _________      _________
Profit on ordinary activities after                                    
taxation                                            20.6           21.4
Equity minority interests                          (5.2)          (7.5)
                                               _________      _________
Profit for the financial year                       15.4           13.9
Dividends                                         (13.2)         (13.2)
                                               _________      _________
Retained profit for the year                         2.2            0.7
                                               _________      _________
Basic earnings per 25p ordinary share                                  
                                                   11.5p          10.0p
                                               _________      _________
Diluted earnings per 25p ordinary                                      
share                                              11.4p          10.0p
                                               _________      _________
                                                                       

Consolidated Statement of
Total Recognised Gains and Losses
For the Year ended 31 December 2000

                                                    2000           1999
                                                      £m             £m
Profit for the financial year                       15.4           13.9
Revaluation of fixed assets                          3.9              _
Currency translation differences on foreign                            
currency net investments                             2.8            1.8
                                               _________      _________
Total recognised gains and losses for the                              
year                                                22.1           15.7
                                               _________      _________
                                                                       

Consolidated Balance Sheet
At 31 December 2000

                                                 2000             1999
                                                   £m               £m
Fixed assets                                                          
Intangible assets                                28.9              6.2
Tangible assets                                 144.2            124.1
Investment in joint venture:                                          
                                          ___________     ____________
     Share of gross assets                        7.9              7.6
     Share of gross liabilities                 (6.0)            (6.3)
                                          ___________     ____________
                                                  1.9              1.3
Investments in associates                         3.6              2.8
Other investments                                15.0             18.6
                                          ___________     ____________
                                                193.6            153.0
                                          ___________     ____________
Current assets                                                        
Stocks                                          107.9            108.2
Debtors                                         178.1            206.2
Investments                                      11.8             10.1
Cash at bank and in hand                         14.7             28.3
                                          ___________     ____________
                                                312.5            352.8
Creditors: amounts falling due within                                 
one year                                      (196.0)          (235.3)
                                          ___________     ____________
Net current assets                              116.5            117.5
                                          ___________     ____________
                                                    _
Total assets less current liabilities           310.1            270.5
Creditors: amounts falling due after                                  
more than one year                            (123.0)           (87.8)
Provisions for liabilities and charges          (4.3)            (5.9)
                                          ___________     ____________
                                                182.8            176.8
                                          ___________     ____________
Capital and reserves                                                  
Called up share capital                          73.1             73.8
Share premium                                    41.0             41.0
Revaluation reserve                              24.3             20.2
Profit and loss account                           0.5            (4.6)
Shareholders' funds                                                   
                                          ___________     ____________
Equity interests                                 91.0             81.8
Non-equity interests                             47.9             48.6
                                          ___________     ____________
                                                138.9            130.4
Equity minority interests                        43.9             46.4
                                          ___________     ____________
                                                182.8            176.8
                                          ___________     ____________
                                                                      

Reconciliation of Movements
In Consolidated Shareholders' Funds
For the Year ended 31 December 2000

                                                 2000             1999
                                                   £m               £m
Profit for the financial year                    15.4             13.9
Dividends                                      (13.2)           (13.2)
                                          ___________     ____________
Retained profit for the year                      2.2              0.7
Currency translation differences on                                   
foreign currency net investments                  2.8              1.8
Revaluation of fixed assets                       3.9                -
Share capital repaid                            (0.7)                -
Goodwill written back on disposals                0.3              0.1
                                          ___________     ____________
Net addition to shareholders' funds               8.5              2.6
Opening shareholders' funds                     130.4            127.8
                                          ___________     ____________
Closing shareholders' funds                     138.9            130.4
                                          ___________     ____________
                                                                      

Consolidated Cash Flow Statement
For the Year ended 31 December 2000

                                                 2000             1999
                                                   £m               £m
                                                                      
Net cash inflow from operating                                        
activities                                       60.2             16.9
                                          ___________      ___________
                                                                      
Returns on investments and servicing of                               
finance
Interest received                                 3.1              2.1
Interest paid                                  (11.9)            (7.1)
Preference dividends paid                       (3.9)            (4.0)
Dividends paid to minorities                    (6.9)            (1.0)
                                          ___________     ____________
Net cash (outflow) from returns on                                    
investments
and servicing of finance                       (19.6)           (10.0)
                                          ___________     ____________
Taxation paid                                   (6.1)            (6.7)
                                          ___________     ____________
Capital expenditure and financial                                     
investment
Purchase of tangible fixed assets              (21.7)           (14.9)
Sale of tangible fixed assets                     1.6              5.8
Purchase of trade investments                   (0.2)            (0.4)
                                          ___________     ____________
Net cash (outflow) from capital                                       
expenditure
and financial investment                       (20.3)            (9.5)
                                          ___________     ____________
Acquisitions and disposals                                            
Purchase of subsidiary undertakings            (28.9)           (13.0)
Net cash acquired with                                                
subsidiary undertakings                           1.4              1.3
Purchase of associated undertakings             (0.7)                -
Purchase of minority interests in                                     
subsidiaries                                    (1.4)                -
Net proceeds from disposal of operations                              
                                                    -              1.5
Net proceeds from disposal of                                         
associated undertaking                            1.6                -
Proceeds from disposal of other                                       
investments                                       0.8                -
Loans repaid by associated undertakings             -              0.2 
                                          ___________     ____________
Net cash (outflow) from acquisitions                                  
and disposals                                  (27.2)           (10.0)
                                          ___________     ____________
Equity dividends paid                           (9.2)            (6.3)
                                          ___________     ____________
Net cash (outflow) before use of liquid                               
resources and financing                        (22.2)           (25.6)
                                          ___________     ____________
Management of liquid resources                                        
Net movement in short term money market                               
deposits                                        (1.0)            (8.7)
                                          ___________     ____________
Financing                                                             
Preference share capital repaid                 (0.7)                -
(Decrease) increase in borrowings due                                 
within one year                                (20.8)              9.8
Increase in borrowings due beyond one                                 
year                                             28.8             10.2
Capital element of finance leases               (0.2)            (0.3)
                                          ___________     ____________
Net cash inflow from financing                    7.1             19.7
                                          ___________     ____________
                                                                      
(Decrease) in cash                             (16.1)           (14.6)
                                          ___________     ____________
                                                                      

1 SEGMENTAL ANALYSIS
. 
  Turnover represents the total amount receivable in the ordinary
  course of business for services provided and for goods sold,
  after eliminating sales within the Group.  Turnover and
  operating profit, including associated and joint venture
  undertakings but before net interest costs, exceptional items
  and taxation, are shown below.

                 2000        2000       2000      1999      1999      1999
                Turn-    Operat-        Net   Turn-over    Opera-      Net
                 over       ing      assets                 ting    assets
                           Profit    (liabi-              Profit   (liabi-
                           (Loss)    lities)              (Loss)   lities)
ACTIVITY           £m          £m         £m        £m        £m        £m
Continuing                                                                
operations
Oil             881.4        32.9      226.9     514.0       7.5     178.5
Less share of                                                             
joint venture                                                             
undertaking     (2.5)           -          -     (2.1)         -         -
Share of                                                                  
joint venture                                                             
undertaking         -         1.4        1.9         -       1.2       1.3
Share of                                                                  
associate                                                                 
undertakings       -         0.7        3.6         -       0.8       2.8
               ______      ______    _______     _____    ______   _______
                878.9        35.0      232.4     511.9       9.5     182.6
Defence         337.0         6.9       62.1     539.7      24.4      71.3
               ______      ______    _______     _____    ______   _______
              1,215.9        41.9      294.5   1,051.6      33.9     253.9
Discontinued                                                             
operations
Aviation            -           -          -         -       1.8         -
              _______      ______    _______   _______    ______   _______
Net funding         -           -    (100.8)         -         -    (73.8)
Central                                                                   
(liabili-                                                                 
ties)               -           -     (10.9)         -         -     (3.3)
              _______      ______    _______   _______    ______    ______
              1,215.9        41.9      182.8   1,051.6      35.7     176.8
              _______      ______    _______   _______    ______   _______
AREA OF                                                                   
OPERATION
Continuing                                                                
operations
Europe  - UK    344.0         7.8       64.2     530.8      21.0      76.8
- Continent      20.1       (3.6)       15.2      32.6     (1.7)      16.5
North America                                                             
- Canada        687.2        22.5      120.8     437.4      11.4     105.6
Share of                                                                  
joint venture                                                             
- Canada            -         1.4        1.9         -       1.2       1.3
Less share of                                                             
joint venture                                                             
- Canada        (2.5)           -          -     (2.1)         -         -
North America                                                             
- US            156.0        12.6       83.1      42.2     (0.4)      46.1
Share of                                                                  
associates -                                                              
Continent           -           -          -         -         -       0.3
- UK                -         0.5        2.5         -       0.6       2.2
- Other             -         0.2        1.1         -       0.2       0.3
Other            11.1         0.5        5.7      10.7       1.6       4.8
              _______      ______    _______   _______    ______   _______
              1,215.9        41.9      294.5   1,051.6      33.9     253.9
Discontinued                                                             
operations
Europe - UK         -           -          -         -       1.8         -
              _______      ______    _______   _______    ______   _______
                    -           -          -         -       1.8         -
Net funding         -           -    (100.8)         -         -    (73.8)
Central                                                                   
(liabili-                                                                 
ties)               -           -     (10.9)         -         -     (3.3)
              _______      ______    _______   _______    ______   _______
              1,215.9        41.9      182.8   1,051.6      35.7     176.8
              _______      ______    _______   _______    ______   _______
                                                                          

     Inter-divisional turnover is not material and turnover by
     destination is not materially different to the area of operation.
     Most of the Group's financing is arranged centrally and is not
     specifically attributable to individual activities or geographic
     areas.
     
2.   The summary of the results for the year ended 31 December 2000 does
     not constitute full financial statements within the meaning of
     Section 254 of the Companies Act 1995.  Full consolidated accounts
     for Hunting PLC for the year ended 31 December 2000 will be
     delivered to the Registrar of Companies and an unqualified
     auditors' report has been given on these accounts.