The first half of Johnson Matthey's current financial year ends on 30th September 2004 and its interim results for the half year will be announced on 25th November 2004. Prior to entering its close period the company is today issuing the following update on current trading:

"Trading in the first half of Johnson Matthey's financial year has been in line with expectations.  Conditions in the second quarter have been similar to the first and divisional performance has continued the progress described in the AGM statement made on 20^th July.  At constant exchange rates all four divisions are ahead of last year and the improvement in trading conditions in the platinum group metal markets has continued. 

The exchange rate for the US dollar has averaged $1.82/£ so far for the first half of the current financial year compared with $1.62/£ for the same period last year.  Dollar weakness will have an adverse effect on the group's reported results but earnings per share (before exceptional items and goodwill amortisation) are still expected to be ahead of last year and in line with market expectations."

Enquiries:

Johnson Matthey

John Sheldrick
Group Finance Director
020 7269 8438

Ian Godwin
Group Corporate Communications Manager
020 7269 8410

The HeadLand Consultancy

Howard Lee
020 7036 0369

Gavin Anderson & Co