Tomkins Trading Update

    LONDON--Nov. 6, 2001--Tomkins PLC , the global engineering group, today issued the following update on trading for the six months ended October 31, 2001 ahead of the close period prior to the announcement of its interim results on January 15, 2002:
    "Since the comments on current trading given at the AGM on September 7, 2001 and the tragic events of September 11, the group has continued to trade in line with internal group budgets and market expectations.
    The resilience and diversification of our businesses, the beneficial effect of currency translation and the actions we have taken to reduce costs have mitigated the adverse effect on trading profit of the current trading conditions in most of our markets.
    In Industrial and Automotive, sales in the aftermarket, which represents around half of our US automotive business, have held up well. However, the production schedules of the major US automotive manufacturers continue to be volatile and the industrial original equipment markets remain weak.
    Air Systems Components has seen some weakness in the industrial and commercial construction markets largely compensated for by the sales into the residential market, which remained robust.
    In Engineered & Construction Products, good performances by the businesses selling into the stronger than expected housing market offset weaknesses in the materials handing sector where deferral of capital projects has reduced activity.
    The focus on cash generation in the group resulted in net cash of the order of (pound)35 million at October 31, 2001 after buying back 11.2 million shares at a cost of (pound)19 million and paying the final dividend of (pound)58m during the half year.
    Looking to the balance of the financial year, there remains no clear picture of the direction of our markets. However the strong market positions held by our businesses, tight management of costs and the financial strength of the group provide a solid base going forward."
    Tomkins is a global engineering group of businesses with market and technical leadership positions, manufacturing value added systems and components for the automotive, industrial and construction industries.
    Tomkins shares trade in the US in ADR form (each equal to four ordinary shares) on the New York Stock Exchange under the symbol TKS; its ordinary shares are listed on the London Stock Exchange.