Oil Division Expansion - Iberia Threading Acquired

Hunting PLC
21 January 2000


OIL DIVISION EXPANSION

Hunting PLC is pleased to announce the acquisition of Iberia Threading Inc
('Iberia') by its Oil Division subsidiary Hunting Oilfield Services
(International) Limited (HOSINT) for US $37m (£22.6m) cash consideration.

Iberia, which is based in Louisiana, USA, is both a premium threader of Oil
Country Tubular Goods (OCTG) and more significantly, is a major supplier of
drill pipe, connections and accessories to the horizontal directional drilling
market - trenchless drilling - used by telecommunications and other utilities.
This activity uses identical machines and technology to HOSINT's existing
international OCTG business and is a market which is expanding rapidly.

The net assets of Iberia after adjustment for cash retained by the vendors are
warranted at US $6.1m (£3.7m).  The unaudited turnover and operating profits
for the year ended 31st December 1999, were US $34m (£21m) and US $9.6m
(£5.9m) respectively.  For the year ended 31st December 1998 the turnover and
operating profits were US $28m (£17.1m) and US $6.9m (£4.2m) respectively.

Commenting on the acquisition, Ken Miller, Chief Executive of Hunting PLC
said: 'The acquisition of Iberia is an excellent opportunity to expand
HOSINT's range of products and services into a market which has excellent
growth prospects, and which can be serviced from our international facilities.
It is an exciting development for Hunting's Oil Division.'

Questions to:

Ken Miller          Hunting PLC - Chief Executive      0171 321 0123
Dennis Clark        Hunting PLC - Finance Director     0171 321 0123
Richard Bassett     Brunswick Public Relations         0171 404 5959