Holding in Company

Spirax-Sarco Engineering PLC
14 May 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

SPIRAX-SARCO ENGINEERING PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

BRITANNIC ASSET MANAGEMENT

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

IN RESPECT OF CLIENTS WHOSE PORTFOLIOS ARE MANAGED BY THE SHAREHOLDERS NAMED IN
BOX 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

CHASE NOMINEES LTD

5)   Number of shares/amount of stock acquired.

NOT STATED

6)   ( NOT STATED %) of issued Class

7)   Number of shares/amount of stock disposed

1,040,000

8)   ( 1.4088% ) of issued Class

9)   Class of security

ORDINARY

10)  Date of transaction

NOT KNOWN

11)  Date company informed

10.5.01

12)  Total holding following this notification

2,461,477
               
              
13)  Total percentage holding of issued class following this notification

3.3344%

14)  Any additional information


15)  Name of contact and telephone number for queries

GUY STAINER
020 7772 2242

16)  Name and signature of authorised company official responsible for 
     making this notification

M F RICKETTS (MRS)

     Date of Notification        14TH MAY 2001