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3 March 1999

Johnson Matthey Announces New Collaboration Agreement with dbb Fuel Cell Engines

Johnson Matthey is pleased to announce that it has signed a letter of intent with Daimler Benz-Ballard Fuel Cell Engines GmbH ("dbb") to develop and supply catalysts and catalysed components for fuel cell engines. Under this agreement Johnson Matthey will be dbb's exclusive development partner for catalysts which purify the hydrogen gas used by fuel cell engines to generate electric power and for several other catalytic components in dbb's groundbreaking engine system. dbb is a joint venture between Daimler Chrysler, Ford and Ballard Power Systems of Canada to develop and manufacture fuel cell engines for vehicles. Industry analysts anticipate that dbb will be the first to market with a fuel cell engine in 2004. dbb will supply engines to Daimler Chrysler and Ford, who together account for a considerable proportion of the world automobile market. It is expected that the company will also be a major supplier to other leading car companies around the world.

Johnson Matthey is the world's leading supplier of the platinum catalysts and catalysed electrodes at the heart of the fuel cell. It also has a number of proprietary technologies for processing fuels to generate the hydrogen required by the fuel cell and for purifying the resulting gas stream. On 27th October last year, the company announced a long-term agreement with Ballard Power Systems for the joint development and supply of catalysts and catalyst containing products for Ballard's fuel cells. As a result of this agreement with Ballard, Johnson Matthey will be the major supplier of fuel cell catalysts to both Ballard and dbb.

dbb's methanol fuel cell engine is expected to be first to market and Johnson Matthey is focussing its efforts in the mobile area to support dbb's programme.

Commenting on the agreement with dbb, Neil Carson, Division Director, said: "This important agreement with Daimler Benz-Ballard reinforces Johnson Matthey's leading position as a supplier of catalysts, catalysed electrodes and fuel processing technologies to the fuel cell industry. This is a rapidly developing new market which will provide Johnson Matthey with major business opportunities in the coming years."

Dr Ferdinand Panik, President and Chief Executive Officer of dbb Fuel Cell Engines commented, "dbb are determined to be first to market with fuel cell cars. This new relationship with Johnson Matthey will be pivotal to our success."

Enquiries:
Johnson Matthey
Neil Carson, Division Director, tel: 01763 253052

Ian Godwin, Group Public Relations Manager, tel: 0171 269 8410

dbb Fuel Cell Engines
Dr Ferdinand Panik, President and CEO, tel: +49 7021 89 3530