AGM Statement

Johnson,Matthey PLC
16 July 2002

                                For release at 12 noon on Tuesday 16th July 2002

                          Chairman's Statement
                        At Johnson Matthey's AGM

Commenting on current trading at today's Annual General Meeting, Michael Miles,
Chairman of Johnson Matthey, said:

'Johnson Matthey has made a good start to the new financial year with profit
before tax, exceptional items and goodwill amortisation for the first quarter
ahead of last year.

Catalysts & Chemicals Division continues to deliver good growth with our
autocatalyst business benefiting from the worldwide introduction of the group's
precision coating technology.  Our commitment to R&D has ensured a stream of
new products which enable Johnson Matthey to offer customers the most cost
efficient emission controls systems in the industry.

Precious Metals Division's profits were below last year reflecting lower average
prices for Platinum and Palladium compared with the high levels seen in the
first quarter of 2001/02.

Colours & Coatings Division's profitability has improved since the latter half
of 2001/02 as the benefits of the rationalisation programme announced in January
have started to come through.

Pharmaceutical Materials Division achieved strong growth benefiting from good
sales of the new products launched at the end of last year and good
contributions from Macfarlan Smith and Pharm-Eco which were acquired in the
first half of 2001/02.

Both Catalysts & Chemicals and Pharmaceutical Materials are well placed to
deliver further growth this year.'


Enquiries:


Chris Clark               Chief Executive                020 7269 8435

John Sheldrick            Group Finance Director         020 7269 8421

Howard Lee                Gavin Anderson & Co            020 7554 1400



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