SUMMARY DIRECTORS' EMOLUMENTS AND SHARE OPTIONS

Report on directors' remuneration
The Nominations & Remuneration Committee of the Board determines the remuneration of executive directors including their annual bonus targets and grants of share options. Its constitution and practice accord with the relevant provisions of the Combined Code, as defined in the Listing Rules of the UK Listing Authority. The full report of the Committee is contained in the full Annual Report and Accounts 2002. This extract provides information on the directors' emoluments, pensions and share options.

Directors' emoluments

  Fees/salary Bonus Benefits Deferred
share
scheme
contributions		 Money
purchase
pension
contributions		 Total
  2002
£000		 2001
£000 		2002
£000		 2002
£000		 2002
£000		 2002
£000		   2002
£000		 2001
£000

CHAIRMAN

                 
K Orrell-Jones 180 172   19       199 193
                   
CHIEF EXECUTIVE                  
K O Butler-Wheelhouse 700 505 357 37 263 350   1,707 1,385
                   
EXECUTIVE DIRECTORS                  
J Ferrie 320 265 127 67 152 128   794 681
L H N Kinet 310 280 52 144 78   584 641
J Langston (appointed 4.12.00) 310 198 111 26   447 571
D P Lillycrop (appointed 4.12.00) 300 198 107 46 141   594 582
E Lindh 300 285 60 32 79   471 531
A M Thomson 360 275 129 24 113   626 567
           
NON-EXECUTIVE DIRECTORS          
Sir Nigel Broomfield (appointed 4.12.00) 30 20   30 20
Sir Colin Chandler (appointed 4.12.00) 65 43   65 43
J M Hignett (appointed 4.12.00) 30 19   30 19
J M Horn-Smith 30 30   30 30
R W O'Leary 30 30   30 30
2,965 2,320 943 395 748 556   5,607 5,293
1 The deferred share scheme amounts represent shares to which certain directors may become entitled and relate to the previous year's bonus.

2 Benefits for Dr Ferrie and Mr Kinet include payments related to their relocation to the UK from the US.

Pensions        
Age at
31 July 2002		 Directors'
contributions
during the year
£000		 Additional pension
earned during the
year (excluding any
increase for inflation)
£000		 Accrued entitlement
at 31 July 2002
£000
J Langston 52 5 17 108
D P Lillycrop 46 5 13 95
E Lindh 57 15 26 201
A M Thomson 55 14 53 118
The pension details above relate to executive directors in respect of whom no money purchase pension contributions are paid.

Directors' share options
The table shows the directors' share options outstanding at 31 July 2002. The aggregate gain made by the directors on the exercise of share options during the year ended 31 July 2002 was £74,000 (2001 £32,000). The aggregate incremental loss from deferred share scheme exercises was £40,000 (2001 a gain of £12,000).

    Options
held on
31 July
2002 		Options
held on
31 July
2001 		Weighted
average		 Options exercised 2001-2002 Options granted 2001-2002
Director Scheme Number Number exercise
price		 Date
exercised		 Number Exercise
price		 Market
price*		 Date of
grant		 Number Exercise
price		 Expiry
date
K O Butler-Wheelhouse 95ESOS 565,834 392,137 818.35p 9/4/02 173,697 806.00p 9/4/12
SAYE 2,578 2,578 669.00p                
DSS 68,563 53,248 0.10p 22/11/01 23,443 0.10p 670.00p 22/11/01 38,758 0.10p 22/10/08
J Ferrie 95ESOS 209,423 130,019 792.04p 9/4/02 79,404 806.00p 9/4/12
SAYE 2,775 2,775 608.00p        
DSS 22,438 0 0.10p 22/11/01 22,438 0.10p 22/10/08
L H N Kinet 95ESOS 212,664 135,741 787.21p 9/4/02 76,923 806.00p 9/4/12
SAYE 1,593 1,593 608.00p        
J Langston 95ESOS 119,623 42,700 800.29p 9/4/02 76,923 806.00p 9/4/12
  SAYE 1,593 1,593 608.00p                
  TI (1990) ESOS 104,030 160,104 1,021.58p 17/5/02 32,956 759.33p 860.00p        
  &17/5/02 23,118 765.42p 860.00p        
  TI 1999 ESOS 258,237 258,237 706.44p        
D P Lillycrop 95ESOS 117,141 42,700 800.17p 9/4/02 74,441 806.00p 9/4/12
SAYE 1,539 0 645.00p 9/5/02 1,539 645.00p 31/1/08
DSS 20,697 0 0.10p 22/11/01 20,697 0.10p 22/10/08
TI (1990) ESOS 128,378 138,215 1,021.81p 8/4/02 9,837 612.95p 806.00p        
TI 1999 ESOS 274,223 274,223 703.02p        
TI SAYE 778 1,990 886.39p        
E Lindh 84ESOS 8,851 8,851 451.00p        
95ESOS 291,421 216,980 804.98p 9/4/02 74,441 806.00p 9/4/12
SAYE 5,002 5,002 583.47p                
DSS 44,107 35,602 0.10p 10/7/02 3,105 0.10p 813.50p 22/11/01 11,610 0.10p 22/10/08
A M Thomson 84ESOS 62,500 62,500 480.00p        
95ESOS 269,098 179,768 802.94p 9/4/02 89,330 806.00p 9/4/12
SAYE 2,775 2,775 608.00p                
DSS 44,450 33,326 0.10p 22/11/01 5,460 0.10p 670.00p 22/11/01 16,584 0.10p 22/10/08
Key      
84ESOS The Smiths Industries (1984) Executive Share Option Scheme TI (1990) ESOS The TI Group (1990) Executive Share Option Scheme
95ESOS The Smiths Industries 1995 Executive Share Option Scheme TI 1999 ESOS The TI Group 1999 Executive Share Option Scheme
SAYE The Smiths Industries 1982 SAYE Share Option Scheme TI SAYE The TI Group 1994 Savings-Related Share Option Scheme
DSS The Smiths Industries Senior Executive Deferred Share Scheme *mid-market closing quotation from the London Stock Exchange Daily Official List