Tomkins Reaches Agreement With Former Chief Executive

    LONDON--Dec. 21, 2001--Tomkins PLC announces that it has reached an out of court settlement with its former Chief Executive Greg Hutchings, who resigned from the Company on October 11, 2000. The terms of the full and final settlement provide for:

--	The release to Mr. Hutchings of his 2.9 million Tomkins shares held in two company share incentive schemes. The majority of these shares were bought by Mr. Hutchings out of his own funds and placed in the schemes, under the terms of which he would have become entitled to the balance of the shares in certain circumstances.
--	A supplementary payment of (pound)500,000 by way of augmentation of his pension.
--	A contribution to his legal fees.
--	The withdrawal by the Company of all its actual and potential claims against Mr. Hutchings including any claim relating to or connected with the matters which were within the ambit of the Investigation carried out on behalf of the Company following his resignation.
--	The waiver of all his actual and potential claims against the Company and its directors, including any claims for wrongful dismissal and any claim for additional pension entitlement, which together are estimated to amount to over (pound)8 million.

    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.