Director Shareholding

Smiths Group PLC
15 March 2001

15 March 2001

Schedule 11 - Notification of interests of Directors and Connected Persons

Name of company: Smiths Group plc

Release of options and grant of replacement options

Under the terms of the merger with TI Group plc, the Company has undertaken to
grant options over ordinary shares of 25p in Smiths Group plc ('Smiths
shares') to persons holding options over ordinary shares of 25p in TI Group
plc ('TI shares'), granted under the terms of the various TI Group plc share
option schemes, who apply to 'roll-over' such options into options over Smiths
shares. Any rolled-over option is subject to the rules of the TI Group option
scheme under which the option was originally granted on a basis of calculation
approved by the Inland Revenue.

Accordingly options were granted on 14 March 2001 to the directors listed in
the table below over the number of Smiths shares and at the option exercise
price and subject to the TI Group Option Scheme rules listed against their
names :

Name of     No. of Smiths Shares over      Option    TI        No. of TI Shares
Grantee     which rolled-over options    Exercise  Option    over which options
                              granted   Price (p)  Scheme              released

John                           32,956      759.33    A                   67,000
Langston
                               23,118      765.42    A                   47,000
                               14,264     1097.82    A                   29,000
                               18,691     1219.80    A                   38,000
                               14,756     1026.67    A                   30,000
                                4,918      849.79    A                   10,000
                               51,401      943.31    A                  104,500
                               61,485      907.23    B                  125,000
                               98,376      661.23    B                  200,000
                               98,376      626.16    B                  200,000

David                           9,837      612.95    A                   20,000
Peter
Lillycrop
                                2,459      846.74    A                    5,000
                                2,459     1058.18    A                    5,000
                               11,067     1121.20    A                   22,500
                               15,248     1097.82    A                   31,000
                               19,675     1219.80    A                   40,000
                               23,364     1026.67    A                   47,500
                               17,953      849.79    A                   36,500
                               36,153      943.31    A                   73,500
                               61,731      907.23    B                  125,500
                              106,246      661.23    B                  216,000
                              106,246      626.16    B                  216,000
                                1,212      853.86    C                    2,464
                                  778      886.39    C                    1,582


Key to TI Option Schemes:

A     =     The TI Group (1990) Executive Share Option Scheme

B     =     The TI Group 1999 Executive Share Option Scheme

C     =     The TI Group (1994) Savings Related Share Option Scheme