Tomkins Sells UK Consumer and Industrial Division for -pound-24 million

    LONDON--May 16, 2002--Tomkins PLC announces that it has sold its UK-based Gates Consumer and Industrial ("GCI") division to the Rutland Fund for a cash consideration of (pound)24 million.
    GCI manufactures a range of rubber-based and other products including Tredaire carpet underlay, Gripperrod carpet accessories, Hunter wellingtons, diving suits and commercial rubber compounds.
    During the year ended April 30, 2002, GCI had sales of around (pound)64 million and made operating profits of approximately (pound)2.7 million. After writing off reinstated goodwill, this disposal will give rise to a small loss that will be provided for in the results for the year ended April 30, 2002. The proceeds will be added to general corporate funds.
    Tomkins is a UK-based world class global engineering and manufacturing group with market and technical leadership across three businesses: Air Systems Components, Engineered & Construction Products and Industrial & Automotive.
    Tomkins ordinary shares are listed on the London Stock Exchange under the symbol TOMK and also trade in ADR form (each equal to four ordinary shares) on the New York Stock Exchange under the symbol TKS.