Chairman's AGM Statement

JOHNSON MATTHEY PLC
21 July 1999
                                                                 

                       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:

'The proposed sale of Electronic Materials Division for US$655 million
completes the first stage of our strategy announced last November to refocus
the group on its core activities where we have genuine leadership and strong
market positions.  A circular will be sent out to shareholders this week
containing further details together with a notice convening an extraordinary
general meeting on 9th August.

I am pleased to report that each of our three core divisions has made a good
start to the year with  profits for the continuing businesses comfortably
ahead of the first quarter of last year. 

There has been continued strong demand for autocatalysts in the first quarter
and good growth in chemicals.  Pharmaceuticals were also ahead in the quarter
despite some price erosion on methylphenidate which was more than offset by
good sales of other products.

Precious Metals enjoyed a good first quarter despite mixed market conditions. 
Demand for platinum group metals continues to be strong.  Colours and
Coatings' profits were up with strong demand for glass and tile products which
more than offset the continued weakness in the UK tableware market.  

The outlook for the year for all the group's continuing businesses remains
encouraging.'

Michael Miles OBE 
Chairman


Enquiries:
Chris Clark, Chief Executive              020 7269 8435
John Sheldrick, Group Finance Director    020 7269 8438
Howard Lee, Gavin Anderson & Co           020 7457 2345