Disposal

Tate & Lyle PLC
6 November 2001

                Completion of Domino Sugar sale by Tate & Lyle                

Tate & Lyle PLC ('Tate & Lyle') announces completion of the sale of Tate &
Lyle North American Sugars Inc., trading as Domino Sugar ('Domino'), to an
investment group led by Alfonso and J. Pepe Fanjul on 5 November 2001. 

The maximum consideration will be US$185 million (£127 million) which includes
a conditional earnout of up to US$20 million (£14 million) payable over 4
years from date of signing. The consideration in respect of fixed assets is
unchanged from the announcement dated 26 July 2001(all variances relate to
levels of working capital) and no further write down is required. 

The sum of US$125 million (£86 million) has been received and is subject to an
upward adjustment for closing working capital balances.  The adjustment of
approximately $15million (£9million) will be payable to Tate & Lyle in three
instalments of $5million each in June 2002, June 2003 and December 2004.

The balance of US$25 million (£17 million) is funded by an interest bearing
subordinated 10 year loan note issued by the purchaser. Of this, US$13 million
(£9 million) will be redeemable in annual instalments commencing 42 months
from the completion date with the balance of US$12 million (£8 million)
redeemable 120 months from the completion date. 

The conditional earnout of US$ 20 million is calculated based on sugar and
energy prices (this amount has reduced from $25 million previously announced
due to changes in the expected closing working capital levels). 

As previously announced, included in the sale are Domino cane sugar refineries
at Baltimore, Arabi (Chalmette, Louisiana), and Brooklyn; and the Allen Sugar
Company, a distributor in Cleveland. The value at 31 March 2001 of Domino's
net assets adjusted to reflect the terms of the transaction, was US$180
million (£127 million). Losses before interest attributable to these net
assets in the 12 months to March 2001 amounted to US$25 million (£17 million).

Larry Pillard, Chief Executive, said: 'This disposal is an important milestone
for the Company, once more demonstrating our commitment to deliver our
strategy of only retaining those assets that we believe will produce
acceptable returns for our shareholders. 

Following this and other disposals, our work continues to integrate Amylum and
Staley and to transform Tate & Lyle into a global carbohydrate based
ingredients business.

I would like to thank all of our employees at Domino for their contribution to
the business, especially during the disposal process.'

Schroder Salomon Smith Barney, a member of Citigroup, advised Tate & Lyle on
this transaction.


Enquiries:        Mark Robinson        020 7626 6525
                  Chris Fox (Press)    020 7626 6525 (office)                 
                                       or 0780 1808 553 (mobile)