Circular re. Rights Issue

Morgan Crucible Co PLC
19 February 2004

19 February 2004

The Morgan Crucible Company plc

Circular to Shareholders re Rights Issue

A copy of the above document has been submitted to the UK Listing Authority and
will shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility which is situated at: Financial Services Authority, 25 The
North Colonnade, Canary Wharf, London E14 5HS, telephone [phone].


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