Trading Update

Johnson Matthey PLC
26 January 2006


                            For Release at 9.15 am on Thursday 26th January 2006

                         Johnson Matthey Trading Update


Johnson Matthey is hosting an analysts' visit today at its Pharmaceutical
Materials business in Edinburgh.  At the meeting Neil Carson, Chief Executive of
Johnson Matthey, gave the following update on current trading:


"Trading in the second half of Johnson Matthey's financial year is progressing
in line with expectations.  Catalysts Division continues to perform well with
Environmental Catalysts and Technologies (ECT) benefiting from growth in diesel
emission control products in Europe.  Demand for autocatalysts in the USA
remains weak but sales in China and Japan are well up on last year.  Overall ECT
is on track to achieve 10% growth in profits in the second half. Process
Catalysts and Technologies (PCT) is also expected to achieve good growth for the
year led by the Ammonia, Methanol, Oil and Gas (AMOG) catalyst business.  Sales
of catalysts for hydrogen generation and gas purification have been particularly
strong.


Precious Metal Products Division has had a good third quarter and should benefit
from the strong platinum price which rose above $1,000/oz earlier this month.
Pharmaceutical Materials Division's sales were up in the third quarter and
profits in the second half should be ahead of the first.  Ceramics Division has
maintained the improvement achieved in the first half and should deliver good
profit growth for the year.


Overall, the outlook for the full year remains very much the same as we set out
in our interim statement.  Following an encouraging first half we are expecting
to achieve good growth in earnings for the year."


Enquiries:

Ian Godwin         Director, IR and Corporate Communications       020 7269 8410

John Sheldrick     Group Finance Director                          020 7269 8438

Howard Lee         The HeadLand Consultancy                        020 7367 5225


www.matthey.com




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