Trading Statement

Johnson Matthey PLC
28 September 2005



                           For Release at 7.00 am Wednesday 28th September 2005



          Johnson Matthey Pre Close Trading Update for the Half Year -

                       Trading in line with Expectations



The first half of Johnson Matthey's current financial year ends on 30th
September 2005 and its interim results for the half year will be announced on
23rd November 2005.  Prior to entering its closed period the company is today
issuing the following update on current trading:



"Trading in the first half of Johnson Matthey's financial year has been in line
with expectations.  Conditions in the second quarter have been similar to the
first and divisional performance has continued the progress described in the AGM
statement made on 19th July.  Profit before tax and earnings per share are ahead
of last year (both before and after the one-off rationalisation costs included
in last year's results).



Catalysts Division's profits are ahead of last year with Environmental Catalysts
and Technologies benefiting from strong sales of catalysts for diesel cars in
Europe, although the North American market has remained weak.  Prospects for
sales of heavy duty diesel catalysts are encouraging with sales of products to
original equipment manufacturers in Europe starting to grow.  We have put in new
capacity to manufacture Catalysed Soot Filters (CSFs) which should add to growth
in the second half of the year.  Process Catalysts and Technologies has also had
an encouraging first half with strong sales of catalysts for methanol synthesis
and hydrogen purification.



Precious Metal Products Division is ahead of last year with good growth in
profits from manufacturing including Colour Technologies which was transferred
from Colours & Coatings Division on 1st April.  The division has also benefited
from favourable market conditions for platinum where the price has remained firm
with continuing good demand from the automotive sector.



As expected, profits of the Pharmaceutical Materials Division are lower than
last year reflecting the reduced contribution from carboplatin and weaker
revenues in contract research.  However, prospects for the new product launches
planned for 2006 remain very encouraging.



Ceramics Division, which will be shown in the interim results as a stand alone
business following the restructuring of the former Colours & Coatings Division,
has had a good first half with profits ahead of last year benefiting from
earlier restructuring and improved margins.



The exchange rate for the US dollar has averaged $1.82/£ compared with $1.81/£
for the first six months of last year.  Overall, exchange translation has not
had a major impact on the group's results compared with last year.



The outlook for the year as a whole remains very much the same as we set out in
our annual report.  Last year the group's profits were higher in the first half
of the year than the second half.  In the current financial year we expect this
trend to be reversed with most of the growth coming in the second half of the
year."





Enquiries:


Ian Godwin           Director, IR and Corporate Communications     020 7269 8410
John Sheldrick       Group Finance Director                        020 7269 8438
Howard Lee           The HeadLand Consultancy                      020 7036 0369




www.matthey.com




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