Director Shareholding

IMI PLC
16 September 2004

16 September 2004


The Secretary
Company Announcements Office
UK Listing Authority
The Stock Exchange

Dear Sir

In accordance with Section 329 of the Companies Act 1985, I hereby notify you
that on 16th September 2004, Mr T J Slack, a director of this Company, exercised
an option over 2498 shares at an option price of 254p per share which had been
granted to him on 6th April 1999 under the IMI SAYE Share Option (1994) Scheme.

Yours faithfully


J C Bower
Corporate Counsel/Deputy Company Secretary




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