Oxford Instruments - Trading Update

RNS No 4019c
OXFORD INSTRUMENTS PLC
9 April 1999

Oxford Instruments plc : Trading Update - Year to 31 March 1999

Oxford Instruments plc, the advanced instrumentation company,
issues the following trading update indicating preliminary
unaudited orders and turnover figures for the year ended 31 March
1999.  This statement is to facilitate improved communications
with investors.  The company intends to issue such an update
annually in future, immediately prior to entering the close period
ahead of its full year results announcement each June.

Preliminary estimates of orders and shipments for the year to 31
March 1999, excluding Oxford Instruments' share of the OMT joint
venture, are #174 million (1998 - #163 million) and #167 million
(1998 - #172 million) respectively.  After adjusting for the
effects on the prior year figures of the sale of the Helios II
synchrotron and the acquisition of the neurology business in
December 1997, orders were up 2% and turnover was down 7% on last
year.  Estimates for the joint venture's orders and turnover are
#107 million (1998 - #91 million) and #121 million (1998 - #76
million) respectively.  Joint venture turnover benefited from the
backlog carry over from the previous year.

The company commented further on the performance of its four
business groups as follows:

* Instrumentation :
Conditions in our major markets have affected shipment volumes in
the second half with both recovery in Asia and growth in Europe
being slower than expected.  However the semiconductor market
world-wide is showing early signs of recovery, although it is too
soon to say when this will translate into new opportunities for
our Microanalysis business.  The sale of our Nuclear Measurements
business was successfully completed on 1 April 1999 and will allow
more effective deployment of shareholders' funds in our other
activities.

* Superconductivity :
While demand for our products has remained firm, shipments have
yet to recover from the operational difficulties reported at the
half year and as a result there has been a material effect on
margins in the second half of the year.  However, new management
has made good progress in addressing these issues and we have
confidence in the approach we are taking to improve quality and
restore margins.

* Medical Systems :
The market for our medical products continues to be very
competitive, with consequent pressure on margins.  Satisfactory
progress continued with the integration of our acquired neurology
business, although this has been offset by static conditions for
our obstetrics products and difficult trading in the cardiology
sector.

* Oxford Magnet Technology joint venture (49% interest):
OMT remains the global market leader in the supply of magnets for
MRI Body Scanners (Magnetic Resonance Imaging).  This success has
been built on the innovative generation of new products released
during the previous financial year coupled with a renewed emphasis
on manufacturing efficiencies in the current year.  Overall demand
for MRI systems remains firm, but price pressures in the market
continue.

The company will be announcing its preliminary results on 10 June
1999.

Enquiries:
Oxford Instruments plc  Tel:01865 881437 Fax:01865 881944
Peter Williams, Chairman
Andrew Mackintosh, Chief Executive
Martin Lamaison, Financial Director

Citigate Dewe Rogerson  Tel: 0171 638 9571 Fax:0171 282 8190
John Rudofsky

END

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