AGM Statement

Johnson Matthey PLC
19 July 2005







                                For release at 12 noon on Tuesday 19th July 2005

                               Chairman's Statement

                            At Johnson Matthey's AGM



Commenting on current trading at today's Annual General Meeting, Michael Miles,
Chairman of Johnson Matthey, said:



"Johnson Matthey has made a good start to the new financial year with results in
line with the outlook statement included in our preliminary announcement
released on 2nd June and in our annual report.  Earnings per share for the first
quarter were slightly ahead of last year, despite adverse exchange translation.



Catalysts Division's profits were ahead of last year with Environmental
Catalysts and Technologies benefiting from increased sales of catalysts for
diesel cars in Europe, although demand for autocatalysts in North America was
down.  Prospects for sales of heavy duty diesel catalysts to original equipment
manufacturers remain encouraging with increasing sales of pre-production
products in Europe.  Process Catalysts and Technologies also had an encouraging
first quarter with strong sales of catalysts for methanol synthesis and hydrogen
purification.



Precious Metal Products Division was 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 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 in our Pharmaceutical Materials Division were 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 our half year results as a stand alone
business following the restructuring of Colours & Coatings Division, had a good
first quarter with profits ahead of last year benefiting from earlier
restructuring and improved margins.



The average exchange rate for the US dollar used to translate our first quarter
results was $1.86/£ compared with $1.81/£ for the first quarter of last year.
The average rate for the US dollar for the second quarter of last year was also
$1.81/£.  The recent strength of the dollar will benefit our second quarter if
it remains at current levels.



The outlook for the rest of the year 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           Group Corporate Communications Manager        020 7269 8410
John Sheldrick       Group Finance Director                        020 7269 8438
Howard Lee           The HeadLand Consultancy                      020 7036 0369
Laura Hickman        Gavin Anderson & Co                           020 7554 1400




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