Offer Update

Johnson,Matthey PLC
26 June 2001

                                                                             
Not  for release, distribution or publication in whole or in part in or  into
the USA, Canada, Australia or Japan
                                                                             
                                                                 
                   Johnson Matthey plc ('Johnson Matthey')
             Recommended cash offer for Meconic plc ('Meconic')
                                      
                          Further market purchases
                                      
Further  to the announcements of the recommended cash offer for Meconic  (the
'Offer') and the levels of market purchases, Johnson Matthey has now acquired
in  aggregate  16,746,561  Meconic ordinary  shares,  representing  46.1%  of
Meconic's current issued share capital, at 405 pence per share in the market.

Enquiries

Johnson Matthey plc
John Sheldrick                                            020 7269 8403
David Morgan                                              020 7269 8454


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

Credit Suisse First Boston de Zoete & Bevan Limited       020 7888 8888
(brokers to Johnson Matthey)
Chris Chambers
Chris Sim

Gavin Anderson & Company                                  020 7457 2345
(PR Advisers)
Howard Lee
Laura Hickman

Salomon  Brothers International Limited (trading as 'Schroder  Salomon  Smith
Barney')  and  Credit Suisse First Boston de Zoete & Bevan Limited  ('CSFB'),
which  are  regulated  in  the United Kingdom by The Securities  and  Futures
Authority Limited, are 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 protections 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
International Limited.

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.