Disposal

Smiths Industries PLC
31 October 2000


Smiths Industries sale of US business

Smiths Industries has agreed to sell Lambda Advanced Analog, Inc. to
International Rectifier Corporation for $17 million. The transaction is
expected to complete in about one month, and is subject to approval by the US
regulatory authorities. Smiths had acquired the business in January 2000, as
part of the Invensys Aerospace division. 

Chief executive of Smiths Industries, Keith Butler-Wheelhouse, said: 'We are
continually reassessing our portfolio of businesses, to focus on those that
match our product strategies and traditionally high targets for returns and
margins.  Lambda is an excellent company but it does not fit with our
Aerospace group strategy.  We believe it will realise its full potential under
the ownership of International Rectifier.'

With annual sales of $26 million, Lambda Advanced Analog is a leading supplier
of high power density voltage converters and electric power controls for the
space, aviation and defence industries. Located in Santa Clara, California, it
employs some 220 people.  Quarterdeck Investment Partners, Inc. acted as
financial advisors to Smiths Industries.

In addition to advanced aerospace systems and equipment, Smiths Industries is
a leading supplier of medical systems and specialised engineering products. 
The company has recently announced a merger with the TI Group, which will
create a new force in specialist engineering with sales of around $4.5 billion
(£3bn). Including TI Group's Dowty Aerospace, the new company's business in
the aerospace sector will be some $2 billion.  Further information about
Smiths Industries is available on the company's website:
www.smiths-industries.com.

Press enquiries to:
Russell Plumley or Richard Bayliss
Tel: [phone]