Update on Supercon Division

Oxford Instruments PLC
8 January 2002


8 January 2002


Oxford Instruments develops the world's largest high-performance commercial
magnet for drug discovery applications


Oxford Instruments announced today that it has successfully completed the
production and testing in the UK of the world's largest high-performance
magnet used for nuclear magnetic resonance (NMR) applications.


This technique, similar to that used in bodyscanners to image the human body,
allows researchers to map the structure of the large biological molecules
involved in disease development and the creation of new drugs.


The magnet builds on the leading-edge technology employed in the successful
'Discovery' high field magnet launched last year for the same application.
This success reinforces the position of Oxford Instruments as the technical
leader today in the supply of magnets into these growing markets and also
forms the basis for a future generation of products.


This $7 million magnet was ordered by the U.S. Department of Energy's Pacific
Northwest National Laboratory in 1993. As previously reported the company has
in recent years made substantial provisions to cover the costs of successful
completion. While the magnet has now met specification in factory tests, there
remains a significant amount of work to complete the installation of the
magnet at the customer's site in the USA over the next few months. It is not
anticipated that there will be a material release of provisions following
successful installation. A substantial proportion of the magnet price has
already been received as a customer prepayment.



Andrew Mackintosh, Chief Executive, said:

' Today's announcement represents a major step in reducing the ongoing
technical risk in our Superconductivity business. This is a further
demonstration of how the major reorganisation of our businesses over the past
two years is now yielding material progress.'



Enquiries:

Oxford Instruments     - 01865 881437

Andrew Mackintosh

Martin Lamaison



Citigate Dewe Rogerson - 020 7638 9571

Chris Barrie



Notes to editors


Oxford Instruments is a global leader in advanced instrumentation. It is
recognised as a world leader in several technologies, including the
application of superconductivity, the creation of low temperatures, the
production and detection of X-rays and in neurological measurements. The
Company's products are used around the world in healthcare, semiconductor
processing, scientific research, industrial chemical analysis and quality
control. Its customers include the world's major international companies as
well as the leading research institutes and hospitals.