Acquisition

Oxford Instruments PLC
13 September 2004




13 September 2004
                             Oxford Instruments plc
                                        
                                        
                    Acquisition of Metorex International OY
                                        

Oxford Instruments plc ("Oxford Instruments", the "Company"), the advanced
instrumentation company, announces today that it has agreed to acquire Metorex
International OY ("Metorex").

Oxford Instruments will pay an initial cash consideration of Euro 4.9m, plus a
deferred cash consideration of up to a maximum of Euro 6.1m, payable against
significant growth in sales over the next 18 months. The Company will acquire
substantially all of the share capital on completion and, following this, any
outstanding shares will be compulsorily acquired under Finnish law.

The annual accounts of Metorex for the year to 31 December 2003 reported sales
of Euro 9.8m and an operating loss of Euro 1.9m. The acquisition is expected to
be earnings neutral to the Company in 2004/05, excluding restructuring costs,
and earnings enhancing in 2005/06. The fair value of the net assets acquired at
completion is estimated to be Euro 0.6m.

Metorex is based near Helsinki, Finland, and has subsidiaries in the USA and
Germany. It is a leading international supplier of advanced instrumentation
solutions and key components for chemical analysis and rapid elemental
identification, primarily using X-ray technology. The company has built a strong
market position in a number of market segments, including the sorting of alloys
and the growth markets for recycling which are being driven by new environmental
legislation.

The acquisition will complement Oxford Instruments' existing business in these
important segments, further enhancing the scale and market share of the Company.
Furthermore, Metorex's proprietary detector technology, developed over many
years in partnership with the European Space Agency, will add significant
competitive advantage to Oxford Instruments' existing range of products. Metorex
will become part of Oxford Instruments' Analytical business.

Andrew Mackintosh, Chief Executive of Oxford Instruments, said: "Following the
successful acquisition of CMI International in October 2001, the integration of
Metorex into our Analytical business is another important step in our strategy
to strengthen our position in the market for chemical analysis using compact
X-ray based instrumentation. Our combined distribution and customer support
strengths across the world will enhance further our service to customers, while
Metorex's strong development capability will allow us to accelerate the
introduction of innovative products into the new markets being created by
environmental legislation."

Enquiries:

Oxford Instruments plc                                   01865 884667
Andrew Mackintosh, Chief Executive
Martin Lamaison, Finance Director


Hogarth Partnership Limited                              020 7357 9477
Andrew Jaques
Edward Westropp


Notes to editors

Oxford Instruments plc

Oxford Instruments is a global leader in advanced instrumentation. It is a
recognised world leader in several technologies, including the application of
superconductivity, the creation of low temperatures, the production and
detection of X-rays and in neurological measurements. The Company's products are
used around the world in scientific research, industrial chemical analysis and
quality control, healthcare and semiconductor processing. Its customers include
most of the world's major international companies, as well as the leading
hospitals and research institutes.

Born out of Oxford University, with over 40 years of continuous product
development, Oxford Instruments today comprises three businesses: Analytical,
Medical and Superconductivity.






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