Chairman's Statement

Morgan Crucible Co PLC
25 May 2001


CHAIRMAN'S AGM STATEMENT


The  Morgan  Crucible  Company  plc (Morgan),  one  of  the  world's  leading
specialist engineering companies, today held its Annual General Meeting.

Commenting on current trading the Chairman, Dr Bruce Farmer, said:

'We are now seeing encouraging indications of customer restocking in a number
of key businesses.  This follows US led customer de-stocking, particularly in
the automotive and information technology sectors.  Assuming the continuation
of  these  positive  trends, we believe that Morgan will demonstrate  further
progress in the year as a whole.'



Enquiries:

Ian Norris/David Davies
Morgan
Tel: [phone]
or (pm on 25/5/01 only): 0777 62 00987)

Harry Chatali/Locksley Ryan
Brunswick
Tel: [phone]