JM Acquires AMC

Johnson,Matthey PLC
31 March 2004

                                 For immediate release Wednesday 31st March 2004

      Johnson Matthey Acquires Sponge NickelTM Catalyst Market Leader AMC

Johnson Matthey announces that it has acquired the AMC Group of companies ('AMC
'), the global market leader in Sponge NickelTM catalysts for $43 million.  AMC
is a privately owned company located in Tennessee, USA, which primarily serves
customers in the pharmaceutical and speciality chemicals industries.

These Nickel catalysts are extensively used in hydrogenation and reductive
alkylation reactions throughout the pharmaceutical industry as well as in a wide
range of other chemical processes. They are often the first catalyst to be
evaluated when designing a new process.  The acquisition of a market leading
position in Sponge NickelTM catalysis is an important strategic addition to
Johnson Matthey's Process Catalysts and Technologies business.

AMC had sales of $24 million in 2003 and employs 55 people at its facilities
near Knoxville, Tennessee.

Commenting on the acquisition Chris Clark, Chief Executive of Johnson Matthey
said:

'AMC, with its market-leading position in Sponge NickelTM catalysts, is an
excellent fit with our existing process catalyst businesses.  The acquisition
will bring important benefits for both Johnson Matthey's existing customers and
those of AMC, providing access to our extensive range of chemical process
catalysts and services.'


Enquiries:

Ian Godwin                         Group Corporate Communications Manager                    020 7269 8410
John Sheldrick                     Group Finance Director                                    020 7269 8438
Howard Lee/Laura Hickman           Gavin Anderson & Co                                       020 7554 1400




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