22 July 2002

$1 billion opportunity for Smiths Aerospace:

Boeing 767 Tanker Transport refuelling enters full-scale development

Farnborough - 22 July 2002 - Smiths Aerospace enters full-scale development for the integrated aerial refuelling and mission control system for the Boeing 767 Tanker Transport.The selection of Smiths demonstrates the company's capabilities to integrate complex systems in an open system operating environment.

Group Managing Director for Smiths Aerospace, Dr. John Ferrie notes, "We are delighted that Boeing selected us to provide this complete system.The air-to-air refuelling market has substantial growth potential and we will be a major player."

Smiths Aerospace was selected by The Boeing Company in March 2002 to supply the hose and drogue refuelling system for the Boeing 767. The selection provides Smiths Aerospace with the opportunity for generating more than

$1 billion in sales of refuelling hardware and associated in-service support.

The refuelling system programme combines a number of Smiths' key capabilities including: