Chairman's Statement

Johnson,Matthey PLC
19 July 2000


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 current year has started very well with all three of our divisions
strongly ahead compared with the first quarter of last year.

Catalysts and Chemicals Division continues to deliver very good growth with
strong sales of  autocatalysts both in North America and in Europe and
increased demand for platinum group metal refining.

Good sales of both platinum and palladium and rising prices have contributed
to a very successful first quarter for our Precious Metals Division.

Colours and Coatings Division has achieved good sales growth particularly in
the Tile and Glass sectors.  Margins have also improved as the benefits of the
restructuring programme for Tableware have come through.

The group is increasing its investment in fuel cells research and development
and we have today announced a collaboration agreement with TXU Europe and
Energy Partners to construct and evaluate a combined heat and power fuel cell
system for the residential market.

The outlook for the year for all our businesses continues to be very
encouraging and we anticipate good growth for the group.'

Enquiries:
Chris Clark,           Chief Executive                  020 7269 8435
John Sheldrick,        Group Finance Director           020 7269 8438
Howard Lee,            Gavin Anderson & Co              020 7496 1401