Tomkins Sells Four Flour Mills.

LONDON--(BUSINESS WIRE)--March 31, 1999--Tomkins PLC (NYSE: TKS), the international manufacturing company, is pleased to announce that agreement has been reached for the Archer-Daniels-Midland Company of Decatur, Illinois ("ADM") to acquire four of the six flour mills, together with the related head office and technical facilities, which Tomkins purchased in March 1998.

The consideration is not being disclosed at this time, at the request of ADM. The net asset value of the business being sold was (pound)33 million at October 31, 1998. On January 11, 1999, in line with the requirements of FRS 12, Tomkins advised that it was taking a provision of (pound)40 million against the estimated loss on disposal of these operations (including the write-off of goodwill on acquisition). That level of provision will prove to be sufficient.

This sale of the mills, at Avonmouth, Liverpool, Newcastle and Tilbury, follows the decision of the Secretary of State for Trade and Industry on September 24, 1998 to uphold the recommendation of the Monopolies and Mergers Commission that these four of the original six mills purchased should be sold.

Completion is scheduled for April 30, 1999.

The Director General of the Office of Fair Trading has approved the purchaser and confirmed that the acquisition by ADM will not give rise to a merger qualifying for consideration under the Fair Trading Act.

Tomkins comprises a broad range of low-risk technology manufacturing companies. Tomkins' US interests include The Gates Rubber Company, Denver, CO, the world's leading manufacturer of power transmission belts and a major producer of hose and connector products. Other interests include, Murray, Inc., Brentwood, TN, one of the leading US producers of power lawnmowers, snow blowers and bicycles; Red Wing Corporation, Fredonia, NY, the largest US manufacturer of private label grocery products; Smith & Wesson Corporation, Springfield, MA, manufacturer of handguns, handcuffs and the Identi-Kit system; and Tomkins Industries, Dayton, OH, a leading manufacturer of components for residential, commercial, and industrial buildings, materials handling and the transportation industry.

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.