Settlement

Morgan Crucible Co PLC
08 February 2005


8th February 2005

The Morgan Crucible Company plc is pleased to announce it has settled on an
amicable basis the federal civil antitrust cases in the US brought by direct
purchasers of carbon products in the 1990s. Morgan will pay $15 million over
time, without interest, in three equal instalments. Morgan continued to deny any
wrongdoing or liability, but settled in order to avoid the expense, distraction
and uncertainty involved in US litigation. The cases had been consolidated as a
class action in federal court in Camden, New Jersey. The settlement is subject
to court approval.

Settlement discussions are underway in two remaining cases, namely a class
action in Toronto, Canada, and State class actions in California.  Any likely
settlement has been provided for in the 2004 accounts.


For further information please contact:

The Morgan Crucible Company plc
Victoria Gould, Director of Group Communications                  01753 837 000

Finsbury Group
Charlotte Hepburne-Scott / Robin Walker                           020 7251 3801


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