Trading Statement

Johnson,Matthey PLC
25 March 2004



                                 For Release at 7.00 am Thursday 25th March 2004


                   Johnson Matthey Pre Close Trading Update -
                       Trading in line with Expectations


Johnson Matthey's financial year ends on 31st March 2004 and its preliminary
announcement of the full year results will be released on 3rd June 2004.  Prior
to entering its closed period the company is today issuing the following update
on current trading:


'Trading in the second half of Johnson Matthey's financial year has been in line
with expectations.  For the year as a whole Catalysts and Pharmaceutical
Materials divisions have achieved good growth in operating profit while Precious
Metals division has been impacted by subdued trading conditions and the revised
terms of the renewed contracts with Anglo Platinum.


The exchange rate for the US dollar has averaged 1.77/£ so far for the second
half of the financial year compared with 1.62/£ for the first half.  Dollar
weakness will have an adverse effect on the group's reported results but
earnings per share (before exceptional items and goodwill amortisation) are
still expected to be ahead of last year and in line with market expectations.'



Enquiries:

Ian Godwin                     Group Corporate Communications Manager    020 7269 8410

John Sheldrick                 Group Finance Director                    020 7269 8438

Howard Lee/ Laura Hickman      Gavin Anderson & Co                       020 7554 1400




                      This information is provided by RNS
            The company news service from the London Stock Exchange