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Tomkins PLC 03 July 2008

Company News Alert

Tomkins’ common stock price has declined significantly since our last update report

Common HOLD The Tomkins PLC (Tomkins) common stock price has declined significantly since our last update report
Directgeneral
reflecting access to thein full
weakness equityreport
markets free of charge
worldwide, at of significant weakness in the
and concerns
Stock construction and housing end-markets in the areas to which the company is most exposed. Although
Ticker: TOMK.L
http://www.iirgroup.com/researchoracle/viewreport/show/20182
the current price level no longer supports our HOLD rating, we do not anticipate a change in our rating,
primarily as a consequence of the company’s significant exposure to the US market.
Target price: GBp186.82
Current price: GBp132.50
Price change since (24.8%) We will reassess the common stock rating for Tomkins after the company announces its 1H 08 results
last report: on 31 July 2008

ADR BUY As we continue to anticipate a significant positive currency impact on the ADR over the long term, we
do not anticipate a change in our current ADR rating.

Ticker: TKS
Target price: US$16.66
Current price: US$10.54
Price change since (25.6%) We will reassess the ADR (1 ADR = 4 common shares) after the company announces its 1H 08 results
last report: on 31 July 2008

Supervisor: Nirav Shah

Analyst: Anuj Upadhyay
Editor: Heloise Capon
Global Research Director:
Satish Betadpur, CFA
Investment horizon - short term actionable trading strategies
This report addresses the needs of strategic investors with a long term investment horizon of 6-12 months. If this
report is provided to you by your broker under the Global Settlement, you may now also access (free of charge) the
short term trading outlook that we publish from time to time for this issuer, looking at the coming 5-30 days for
readers with a shorter trading horizon. These are available online only at www.researchoracle.com

Next news due:

1H 08 results, 31 July 2008
We downgraded the Tomkins common stock from a BUY to a HOLD rating in our previous update
report, dated 04 April 2008, with a target price of GBp186.82. The common stock price has since
declined by 24.8% to close at GBp132.50 on 02 July 2008, which we believe is largely due to
weakness experienced in global equity markets, and concerns of significant weakness in the
company’s construction and housing end-markets. The FTSE 250 index fell 14.9% over the same
period to close at 8,658.2 on 02 July 2008.
Although the common stock price has declined significantly since our last update report and suggests
a BUY rating from the current price level, we maintain a cautious outlook for the company as a result
of its high exposure to the declining US construction and automotive market. Thus we maintain our
current HOLD rating until we reassess the stock in our next update report.

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