Acquisition & Trading Update

Victrex PLC
01 April 2005



For Stock Exchange release at 7.00a.m. Friday 1 April 2005

                                  Victrex plc

              Acquisition of Raw Material Manufacturing Operations
                                  from Degussa

                             Interim Trading Update

Victrex plc today announces the purchase of the operations owned by a subsidiary
of Degussa AG relating to the manufacture of BDF (the key raw material from
which Victrex(R) PEEK polymer is produced) for cash consideration of £16.3
million. The transaction further consolidates Victrex's control of the BDF
supply chain following the acquisition of the primary manufacturing stage of BDF
in 1999.

The operations acquired today principally comprise an oxidation plant which
undertakes the secondary manufacturing stage of BDF. As a result of the
purchase, the joint arrangement with Degussa (under which they are entitled to
50% of the profits arising from BDF manufacture) is terminated with immediate
effect.

Details of the acquisition

Under the terms of the agreement, Victrex has purchased the oxidation plant
which forms part of a larger Degussa site at Seal Sands in the north east of
England.

In addition Victrex has also purchased the remainder of the assets adjacent to
its existing site at Rotherham where the primary manufacturing stage of BDF is
conducted. These newly acquired assets principally comprise a plant that
manufactures fluoroboric acid (a key raw material for the primary manufacturing
stage) which is currently supplied to Victrex under an existing agreement with
Degussa.

In total, Victrex has purchased tangible fixed assets for £12.9 million and
goodwill for £2.5 million. Victrex has also purchased raw materials,
work-in-progress and stock relating to the acquired operations at cost estimated
at £0.9 million.

Profit before tax attributable to these assets for the year ended 31 December
2004 amounted to £4.9m.

The consideration will be funded from existing cash resources and borrowing
facilities.
                                                                       
Financial effects

Victrex expects this transaction to have a neutral effect on earnings per share
in the current financial year and to be significantly earnings enhancing in the
year to 30 September 2006.

The assets acquired, including goodwill, will be consolidated on Victrex's
balance sheet with effect from today.

David Hummel, Chief Executive of Victrex plc, commented:

'The transaction completes another step for Victrex in consolidating our supply
chain for the key raw material for Victrex PEEK. Self-sufficiency in oxidation
will give us even greater control of quality, costs and capacity.'

Interim Trading Update

Continued strong demand has resulted in first half sales volume of approximately
985 tonnes, some 6% ahead of the second half of last year (933 tonnes) and 13%
up on the previous first half of 869 tonnes.

   •Asia-Pacific sales continued to grow strongly with a record volume of 210
    tonnes, up 43 % on last year's second half (147 tonnes) largely due to the
    continued penetration of new applications as a result of our ongoing
    commercial investment programme in this region.


   •European sales volume at 495 tonnes was 4% up on the previous second half
    (478 tonnes).


   •United States volume of 280 tonnes was 9% down on last year's second half
    (308 tonnes) primarily due to softening demand in the semiconductor sector,
    combined with some shifting of sales to Asia as end users move to local
    sourcing.


   •Invibio, the medical implant materials business, continued to show strong
    revenue growth in the first half.

The announcement of the Company's results for the six months ended 31 March 2005
will be made on Tuesday, 7 June 2005.

                                     -Ends-
                                                                       
For further information please contact:

Victrex plc                                 0207 357 9477 (1 April 2005)
David Hummel, Chief Executive               01253 897700 (thereafter)
Michael Peacock, Finance Director


Hogarth Partnership Limited                 0207 357 9477
Nick Denton / Barnaby Fry

Notes to Editors

Victrex plc is an innovative, world leader in high performance materials through
the manufacture of Victrex(R) PEEK polymer.

It has manufacturing plants and research facilities in the UK and a global
network of sales and distribution centres serving customers based in over 30
countries.

Victrex PEEK is a high performance, easy to process, thermoplastic with a unique
combination of properties including exceptional chemical, wear, electrical and
temperature resistance combined with dimensional stability.

These properties enable engineers to deliver cost effective and improved
components across a broad range of markets in every day life applications such
as heating and cooling systems, coffee machines, cars, microchip manufacture,
aeroplanes, mobile phones and surgical instruments.



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