Morgan Advanced Materials Regulatory News (MGAM)

The Morgan Crucible Company plc

PDMR Transactions relating to The Morgan Crucible Bonus Deferral Share Matching Plan (the 'Plan')

18th March 2010

1. Grant of Deferred Bonus and Matching Awards

The Morgan Crucible Company plc (the 'Company') announces that on 18th March 2010 the following awards over ordinary 25p shares in the Company ('Shares') were granted to an Executive Director and other persons discharging managerial responsibility ('PDMRs') under the Plan.

There are two linked awards:

Deferred Awards granted following the Executive Director's and other PDMRs' election to convert part of their bonus for the financial year 2009 into a deferred entitlement to Shares. The award relates to post-tax bonus. The Company's mid-market closing Share price on the date of grant was 188.7p; and

Matching Awards, the vesting of which is linked to continued service and an Earnings per Share-based measure of growth over a three year period. At the top end of the performance scale, the Matching Award would vest at three times the number of Shares which could be acquired with the pre-tax amount of the bonus which the participant had elected to invest in Shares under the Deferred Award.

2. Deferred Awards granted under the Plan in March and April 2008

The Company also announces that on 18th March 2010, the PDMRs and Executive Directors, listed below, waived certain Deferred Awards that were granted to them on 11th March 2008 and 18th April 2008 respectively. On the same date these persons were granted awards over an equivalent number of restricted Shares, which will attract matching Shares if retained until the original vesting date of the Deferred Awards.

The number of restricted Shares was increased to reflect the notional re-investment of dividends on the waived Deferred Awards.

Each participant has sold a portion of their restricted Shares to satisfy the income tax and employee national insurance due under the arrangements.

The number of matching Shares, linked to the Deferred Awards, remains unchanged.

(1) The sale of Shares (to satisfy the tax and employee national insurance contributions falling due and to cover the incidental costs of disposal) took place on the London Stock Exchange on 18th March 2010, at a price of 188p per Share.

3. Shareholdings following the above transactions

As a result of the transactions referred to in (1) and (2) above, the total shareholdings and total percentage holdings of the executives listed above are as follows:

This notification relates to transactions notified in accordance with DR 3.1.4R (1) (a).

Enquiries: Tracey Bigmore, The Morgan Crucible Company plc

Tel: 01753 837000

Date of notification: 18th March 2010