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23 August 1999

Settlement of Commercial Dispute with General Motors Corporation

General Motors Corporation, Johnson Matthey PLC and Johnson Matthey Inc. have agreed to settle a long-standing commercial dispute.

General Motors and Johnson Matthey asserted claims against each other six years ago in a lawsuit pending in the U.S. District Court in Milwaukee, Wisconsin. The dispute involved a disagreement over the purchase and supply of automotive catalysts under a supply agreement between the parties that expired in 1994.

As part of the settlement agreement reached in August 1999, General Motors and Johnson Matthey have agreed to collaborate in a significant research and development project in the field of fuel cells for transportation applications. Further, General Motors and Johnson Matthey have established a framework for commercial relations in other areas, including automotive catalysts.

Both parties have applied to the Federal Court in Milwaukee to have their respective claims dismissed.

Enquiries:
John Sheldrick, Group Finance Director
tel: +44 20 7269 8438

Howard Lee, Gavin Anderson & Co
tel: +44 20 7457 2345