Offer Document Posted

Johnson,Matthey PLC
3 July 2001


                                      
 Not for release, distribution or publication in whole or in part in or into
          the United States of America, Canada, Australia or Japan
                                      
                                      
Recommended Cash Offer by Schroder Salomon Smith Barney on behalf of Johnson
         Matthey plc ('Johnson Matthey') for Meconic plc ('Meconic')

Johnson  Matthey  announces  that  the Offer  Document  in  relation  to  the
recommended  Offer  by  Schroder Salomon Smith Barney on  behalf  of  Johnson
Matthey  for Meconic, announced on 21 June 2001, is being posted  to  Meconic
Shareholders today.  The Board of Meconic has unanimously recommended Meconic
Shareholders  to accept the Offer.  Forms of Acceptance should  be  completed
and returned as soon as possible, but in any event so to arrive no later than
3.00 p.m. on 24 July 2001.

Enquiries:

Johnson Matthey
John Sheldrick                                   020 7269 8438
David Morgan                                     020 7269 8454
Ian Godwin                                       020 7269 8410


Schroder Salomon Smith Barney                    020 7986 4000
(financial adviser to Johnson Matthey)
James Steel
Jan Skarbek

Salomon  Brothers International Limited (trading as 'Schroder  Salomon  Smith
Barney'),  which  is  regulated in the United Kingdom by The  Securities  and
Futures Authority Limited, is acting exclusively for Johnson Matthey and  no-
one  else in connection with the Offer and will not be responsible to  anyone
other  than  Johnson  Matthey for providing the protection  afforded  to  its
customers  nor for providing advice in relation to the Offer.  Salomon  Smith
Barney  is  a  service  mark  of Salomon Smith Barney  Inc.   Schroder  is  a
trademark of Schroders Holdings plc and is used under licence by  Salomon
Brothers Intentional Limited.

This  announcement does not constitute an offer or an invitation to  purchase
any securities.

The  Offer is not being made, directly or indirectly, in or into, or  by  the
use  of  the mails of, or by any means or instrumentality (including, without
limitation,  telephonically  or  electronically)  of  interstate  or  foreign
commerce  of,  or  any facilities of a national securities exchange  of,  the
United  States, or in or into Canada, Australia or Japan and the Offer should
not  be accepted by any such use, means, instrumentality or facility or  from
within the United States, Canada, Australia or Japan.

The  Loan  Notes to be issued pursuant to the Loan Note Alternative have  not
been,  and will not be, registered under the United States Securities Act  of
1933 (as amended) or under any relevant securities laws of any state or other
jurisdiction  of the United States, nor have clearances been, nor  will  they
be,  obtained  from  the securities commission or similar  authority  of  any
province  or territory of Canada and nor has a prospectus been,  or  will  be
filed,  or  registration made, under any securities law of  any  province  or
territory of Canada, nor has a prospectus in relation to the Loan Notes been,
nor  will one be, lodged with or registered by the Australian Securities  and
Investments Commission nor have any steps been taken, nor will any  steps  be
taken,  to  enable the Loan Notes to be offered in compliance with applicable
securities laws of Japan.  Accordingly, unless an exemption under such Act or
securities laws is available, Loan Notes may not be offered, sold, re-sold or
delivered,  directly  or  indirectly, in, into or  from  the  United  States,
Canada,  Australia or Japan or any other jurisdiction in which  an  offer  of
Loan  Notes  would  constitute  a  violation  of  relevant  laws  or  require
registration thereof, or to or for the account or benefit of any US person or
resident of Canada, Australia or Japan or any other such jurisdiction.


Salomon  Brothers  International Limited (trading as Schroder  Salomon  Smith
Barney)  is  regulated  in the United Kingdom by the Securities  and  Futures
Authority  Limited.  Salomon Smith Barney is a service mark of Salomon  Smith
Barney  Inc.  Schroders is a trademark of Schroders Holdings PLC and is  used
under licence.