Changes in non-executive directors at IMI - 23 October 2003

IMI plc, the major international engineering solutions business, today announces the following Board changes with effect from 1 November 2003:

• Sir Chips Keswick, who has been a non-executive director since 1994, will retire as a director and the senior independent non-executive.
• Terry Gateley, aged 49, will be appointed to the Board as an independent non-executive director. He qualified as a chartered accountant in 1976 and worked with KPMG until 1999, where he was senior partner with responsibility for the firm's 27 UK offices outside London. Since then he has been involved in the management of, and as an investor in, a number of businesses. He is a member of the Industrial Advisory Board of Alchemy and his current directorships include Open and Direct Limited (chairman) and Jennings Holdings Limited. His recent past directorships include two listed companies, Pressac plc and United Assurance plc.
• The Audit Committee will be chaired by Terry Gateley and comprises IMI's three independent non-executive directors (Terry Gateley, James Leng and Brian Staples).
• The Remuneration Committee will be chaired by James Leng and comprises IMI's three independent non-executive directors.
• The Nominations Committee will be chaired by the Chairman, Gary Allen, and, in addition, comprises IMI's three independent non-executive directors and the Chief Executive, Martin Lamb.
• Brian Staples, who joined the Board in 2000 and is the next longest serving non-executive after Sir Chips, will become the senior independent non-executive director.

Gary Allen, Chairman, said,

“I wish to thank Sir Chips for the very valuable contribution he has made to the Board and its committees over the last nine years. At the same time, I would like to welcome Terry Gateley to IMI. His appointment ensures that we maintain a well balanced Board with a strong, independent non-executive presence”.

- End -

For further information contact:

IMI plc
Graham Truscott, Communications Director
Tel: 0121 717 3712

Weber Shandwick Square Mile
Peter Corbin
Tel: 020 7067 0700

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