AGM Statement

Morgan Crucible Co PLC
20 April 2007


CHAIRMAN'S AGM STATEMENT

Your Company delivered another year of improved financial performance in 2006
with a further increase in top line  growth and continued profit margin
enhancement. In addition we announced the achievement of our target of double-
digit  margins at the half year results, nearly a year ahead of schedule.

We continue to challenge ourselves with our new goal of targeting mid-teen
operating profit margins in favourable  economic climates and double digit in
bad times. To this end, we continue to improve the earnings quality of the Group
by positioning ourselves in less commoditised markets with a greater focus on
differentiated, value-added products.  This shift in our product mix, combined
with an ongoing focus on cost management and operational efficiencies, puts 
your Company in a good position to improve further.

Morgan Crucible has minimal net debt and substantially reduced its Group pension
deficits in 2006. Its robust balance  sheet positions the Group well to pursue
acquisition targets that support and accelerate progress with our strategic 
priorities.

Trading in the first quarter of 2007 has been good and the order books in our
businesses have continued to be solid.  As a result, the Board remains confident
about Morgan's prospects over the coming months. However, the continuing
strength of sterling against the US dollar and other currencies, if sustained,
will negatively impact our results.

Morgan Crucible delivered a strong set of results in 2006. Our strategy going
forward is to continue to focus on higher  growth, higher margin end markets
whilst reducing the Group exposure to slower growing more commoditised markets. 
I am  pleased to report that Morgan Crucible is in robust financial health and,
as such, the Board is able to recommend  payment of an increased dividend.

None of the impressive achievements would be possible without the commitment of
our 9,300 employees around the world.  On your behalf I would like to thank all
of them for their hard work and achievements in 2006, and our investors for 
their continued support.


Enquiries:

Victoria Gould         The Morgan Crucible Company plc     01753 837306
Robin Walker           Finsbury                            020 7251 3801






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