Meggitt Concludes $600m Debt Private Placement

For immediate release 16 June 2010

Meggitt PLC

("Meggitt" or "the Group")

Meggitt concludes $600m debt private placement

Meggitt, the international aerospace group, is pleased to announce the completion of a private placement of US$600 million in senior notes with leading international institutional investors. The notes are in four series with maturities of seven, ten and twelve years and coupons of between 4.62% and 5.17%. US$250 million has been drawn down in June 2010 with the balance of US$350 million to be drawn in October, coinciding with the maturity of some existing fixed rate swaps.

Meggitt generates a substantial portion of group income in the US and has a policy of matching assets in the countries where it operates with borrowings in local currencies. Covenant conditions are similar to those on our existing debt.

The funds raised will replace some of Meggitt's existing bank facilities which were due to expire between 2012 and 2013, thereby significantly lengthening the debt maturity profile of the Group. In line with company policy, Meggitt will continue to maintain an appropriate balance between fixed and variable rate debt, with part of the new placement being swapped into floating rate debt taking advantage of current low interest rates.

The initial offering of US$200 million was more than five times oversubscribed, allowing the Company to increase its issue to US$600 million whilst retaining an attractive coupon.

Stephen Young, Group Finance Director, commented:

"We are particularly pleased to have secured long term non‑bank financing for our business on attractive terms despite the difficult conditions in financial markets over the last two years. The very strong demand for our private placement clearly demonstrates the market's confidence in Meggitt's proven track record of investing in markets with significant intellectual property and strong aftermarket demand, providing sustainable future cash flows."

ENDS

For further information contact:

Terry Twigger, Chief Executive

Stephen Young, Group Finance Director

Charles Andrews, Group Head of Financial Planning & Analysis

Meggitt PLC

Tel: +44 1202 597597

Charles Ryland or Jeremy Garcia

Buchanan Communications

Tel: +44 20 7466 5000

www.meggitt.com