SAR - Time Products PLC

Guinness Peat Group PLC 26 April 2001 LETTER TO: COMPANY ANNOUNCEMENTS OFFICE TIME PRODUCTS PLC DISCLOSURE UNDER RULE 3 OF THE SUBSTANTIAL ACQUISITIONS RULES Guinness Peat Group plc and its subsidiary companies ('GPG') announces that it made the following purchases of ordinary 10p shares ('Shares') in Time Products plc: Date Number Price Interest Percentage of Issued Shares 25.04.01 50,000 1.67 8,062,559 19.22 25.04.01 2,225,000 1.75 10,287,559 24.52 Under the strictures of the City Code on Takeovers and Mergers, GPG also announces that it is now deemed to be a Category (1) and a Category (6) Associate of Time Products in accordance with the Definitions of that Code So far as the Group is aware, no person interested in the Shares is party to any agreement or arrangement relating to the exercise of any rights conferred by holding the shares subject to this notification. LETTER FROM: GUINNESS PEAT GROUP PLC


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