Acquisition

Johnson Matthey PLC
01 February 2006





                              For release at 7.00 am Wednesday 1st February 2006



                  Johnson Matthey Buys Davy Process Technology



Johnson Matthey Plc ("Johnson Matthey") announced today that it has purchased
Davy Process Technology Limited ("DPT") for £40 million in cash.



DPT develops chemical process technologies and licenses them to customers in the
oil, gas, petrochemical, polymer and pharmaceutical industries.  Revenue is
generated through the licensing of its proprietary technologies and from the
sale of associated basic engineering packages, catalysts, specialist equipment
and other services.



Johnson Matthey and DPT have a long history of technical collaboration and,
together with Aker Kvaerner, form the One Synergy alliance which provides
turnkey solutions for methanol production and other syngas based processes
including the emerging gas to liquids (GTL) market.  The combination of Johnson
Matthey's process catalyst businesses with DPT will present new opportunities to
exploit the research capabilities of both organisations.  Johnson Matthey's
catalyst expertise will enhance DPT's ability to develop advanced catalyst based
processes for a number of key growth markets and the acquisition will give
Johnson Matthey new opportunities to grow its sales of catalysts into both
existing and new emerging markets.



DPT employs around 175 people and is headquartered in London. It has a
purpose-built R&D centre in Stockton-on-Tees. The company has a long history,
having been established in the 1830s as a mechanical engineering business and
was part of Trafalgar House before being purchased by Kvaerner in 1996. More
recently, the business changed hands in 2001 when Yukos bought DPT from Aker
Kvaerner.  Johnson Matthey has acquired DPT from Yukos International UK BV.



In the year to 31st December 2005 DPT achieved sales of £33.2 million, EBIT
(earnings before interest and taxes) of £5.1 million and EBITDA (earnings before
interest, taxes, depreciation and amortisation) of £6.3 million.



Johnson Matthey will finance this acquisition out of existing borrowing
facilities.



Commenting on the transaction Neil Carson, Chief Executive of Johnson Matthey,
said:



"The acquisition of Davy Process Technology is a further significant step in
growing our Process Catalyst and Technologies business. The combination of DPT's
process technology and engineering design capabilities with our expertise in
catalysis will substantially strengthen our leading position as a catalyst and
technology supplier to the world's chemical and energy industries."





Enquiries:

Ian Godwin        Director, IR and Corporate Communications       020 7269 8410
John Sheldrick    Group Finance Director, Johnson Matthey         020 7269 8438
Howard Lee        The HeadLand Consultancy                        020 7367 5225










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