Sale of Copper Fittings business completed - 2 September 2002

IMI plc, the major international engineering solutions group, today announces the completion of the sale of Copper Fittings to Aalberts Industries NV in accordance with the terms of agreement announced on 22nd July 2002. A cash consideration of £60m was received and a further £5m will be paid twelve months from completion.

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For further information contact:

Graham Truscott
Communications Director
IMI plc
Tel: 0121 332 2330

Ben Padovan / Peter Corbin
Weber Shandwick Square Mile
Tel: 020 7950 2800

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