TI Automotive Names Management Team Following Recent Spin-Off

    WARREN, Mich., July 19 TI Automotive, a $2.4-billion
supplier of fluid-handling systems to the auto industry, has named its senior
management team following a successful spin-off from Smiths Group plc earlier
this month.
    According to Bill Laule, the company's recently appointed CEO, the new
management group will include four regional presidents:  Jim Davis, North
America; Howard Duxbury, Europe; Walter Serer, Latin America, and Tony Martin,
Asia Pacific.
    Currently ranked among the world's top 50 largest auto suppliers, TI
Automotive is the industry's leading provider of fluid transfer, storage and
delivery systems with a global market share of 20 percent.
    TI Automotive had been part of TI Group, a UK-based conglomerate acquired
by Smiths last year.  The new company includes well-known automotive supplier
businesses such as Walbro, Bundy and Vari-Form and has 150 facilities in 29
countries around the world.
    Laule added that the company plans to establish its global headquarters in
the Detroit area later this year.  "Detroit is the home for many of our OEM
and Tier One automotive customers," Laule said.  "It continues to be the focal
point for our global product- and business-development initiatives."
    Laule was named CEO of TI Automotive following the company's spin-off from
Smiths in early July.  Well-known within the industry, Laule had been CEO of
TI Group and has held senior positions in Detroit with Rockwell International
and Bundy.
    "Our senior management team has more than 200 years of combined automotive
experience," Laule said.  "We have a clear business focus, a firm commitment
to customer service and quality, and aggressive plans to strengthen our
market-leading position in value-added fuel, brake and air-conditioning
systems."
    Laule announced the following senior management appointments:
    *  Jim Davis - President, North American Operations.  Davis joined the TI
Group in 1997.  He previously had served as president of Glacier-Vandervell, a
division of T&N plc, and also has held senior management positions with
Federal-Mogul.
    *  Walter Serer - President, Latin American Operations.  Serer joined
Bundy in 1993 as vice president of finance - Bundy Latin America, and became
president of Bundy Latin America - Automotive in 1998.  He also has held
senior financial positions with General Electric, CibiZ Brazil and Coldex
Frigor.
    *  Tony Martin - President, Asia Pacific Operations.  Martin had been with
the TI Group since 1984, where he held several senior financial and
international operations positions, including president of Bundy Asia Pacific.
    *  Howard Duxbury - Managing Director of European Operations.  Prior to
joining the TI Group Automotive Systems in 1999, Duxbury was president of
European Operations for Siebe Automotive.  He also held senior management
positions with Rockwell International and Echlin Automotive.
    *  Andrew Masterman - President, Walbro Engine Management.  He joined TI
Group in 1999 and has held positions of increasing responsibility with TI's
Walbro business, including president of Walbro Asia Pacific.
    *  Chris Kinsella - Finance Director.  Kinsella joined Bundy in 1997 as
finance director.  He has extensive finance experience in the automotive,
aerospace, process control and electronics industries with companies such as
General Electric, Meggitt plc and Siebe plc.
    *  Dan Cook - Business Development Director.  A TI executive since 1987,
he has held a variety of senior automotive positions including director of
planning, director of Bundy's Ford business unit, vice president of Business
Units - Bundy Automotive, USA and, most recently, commercial director.
    *  Tim Guerriero - Vice President, Legal Affairs.  Guerriero came to TI
Group in 1999 from Dana Corporation where he served as Legal Counsel.  He also
held senior legal positions with Glacier-Vandervell and T&N Inc.
    *  Jim Newell - Human Resources and Communications Director.  An engineer
by profession, Newell has held human resources positions with Land Rover in
North America, Rover Group and British Aerospace before joining TI Group
Automotive Systems in 2000.

    A publicly held company incorporated in the UK, TI Automotive Limited is
owned by the Smiths Group (19.9 percent), former TI Group shareholders (55.1
percent) and TI Automotive management (25 percent).
    Currently headquartered in the UK, TI Automotive is the world leader in
fluid carrying systems to the automotive and refrigeration industries.  The
company employs more than 20,000 people, including more than 800 in the
Detroit area.  It provides fuel systems, brake and fuel bundles, and
powertrain and air conditioning systems to the world's leading vehicle
manufacturers.  In addition, TI Automotive also provides complete fluid
carrying systems capability for the worldwide refrigeration industry (Bundy
Refrigeration) and engine management systems to the small engine market
(Walbro Engine Management).
    Further information on the company, its products and services is available
on the Internet at http://www.tiautomotive.com .