Mary T. Finnegan, Treasurer / Investor Relations
Phone: ++1 614 438 4748
Fax: ++1 614 438 4646

GREIFENSEE, Switzerland and COLUMBUS, Ohio, USA - July 24, 2003 - Mettler-Toledo International Inc. (NYSE: MTD) today announced net earnings of $25.8 million, or $0.57 per share on a diluted basis, for the quarter ended June 30, 2003. Net earnings per share increased 6% over the second quarter 2002 net earnings per share of $0.54, which excludes a restructuring charge and a one-time tax gain. In the second quarter 2002, reported net earnings per share were $0.61.

For the six-month periods ending June 30, net earnings per share were $0.94 in 2003 and $0.95 in 2002, which excludes restructuring charges in both periods and the one-time tax gain in 2002. On a reported basis, net earnings per share in 2003 were $0.85, versus $1.02 in 2002.

Sales for the quarter were $321.4 million, which represents an 8% benefit from currency and flat local currency sales compared with the second quarter of 2002. Adjusted operating income amounted to $43.1 million, or 13.4% of sales, a 5% increase over the prior year amount of $41.0 million, or 13.8% of sales. Adjusted operating income after the restructuring charge in the second quarter of 2002 was $12.4 million.

For the six months ended June 30, 2003, the Company reported sales of $613.2 million, compared with $569.4 million for 2002. This represents an 8% increase in reported sales, consisting of a 9% benefit from currency and a 1% decline in local currency sales. Adjusted operating income in 2003 amounted to $73.4 million, or 12.0% of sales, compared with $73.6 million, or 12.9% of sales, in the same period of 2002. Adjusted operating income after restructuring charges was $68.0 million in 2003 and $44.9 million in 2002.

Robert F. Spoerry, Chairman, President and Chief Executive Officer, stated, "We are pleased with our performance in the quarter given the challenging global economic environment. Local currency sales growth was flat, but higher gross margins and the benefit from cost-saving initiatives put into place over the last 12 months drove growth in adjusted operating income. The weak dollar had a positive impact on our sales but, because our global operations create a natural hedge from a foreign currency standpoint, it had little impact on adjusted operating income. On a constant currency basis, operating margins in the quarter were quite strong at a 14.4% level, compared with 13.8% last year. Finally, cash flow generation was again very solid, with a 22% increase in the quarter over the prior year amount."

Spoerry continued, "In general, activities in our principal end markets are in line with our expectations, with the exception of BioPharma where we have seen reduced spending levels. Based on our most current market assessment, we expect that local currency sales in 2003 will be relatively constant with the prior year. We are rigorously containing costs, including ensuring our cost-saving initiatives stay on track. Given these factors, we currently believe that EPS for the full year will be in the range of $2.15 to $2.20 per share, compared to $2.15 in 2002."

Spoerry concluded, "With the strategic initiatives we have in place, we believe we are solidly positioned for growth once market conditions improve. Although there has been some pullback in our end markets, the long-term fundamentals of our markets remain solid. Furthermore, our solutions comprised of instruments, software and services provide tangible paybacks to customers through improved productivity, enhanced product quality, faster time-to-market and adherence to regulatory compliance. In recent years, we have accelerated the pace of our R&D investment and, consequently, have a record number of new products coming to market in the upcoming quarters. We are also introducing new service offerings to address the heightened needs of our customers for regulatory compliance. Our Asian business continues to gain in importance as it offers great market potential and provides low-cost manufacturing. In addition, toward the end of the year, we will have completed our cost-restructuring program."

For the six months ended June 30, 2003, the Company reported local currency sales growth of 12% in Asia and the Rest of World and a sales decline of 3% in the Americas and Europe.

The Company has reconciled its diluted earnings per share before restructuring charge to its diluted earnings per share to be reported in the Company's Form 10-Q for the quarter and six months ended June 30, 2003 on the comparative financial information schedules attached to this press release. Additional operational data has also been reconciled to the most comparable U.S. GAAP measure in the schedules attached to this press release.

The Company will host a conference call to discuss its second quarter results today (Thursday, July 24) at 5:00 p.m. Eastern Time. To hear a live webcast or replay of the call, visit the investor relations page on the Company's website at www.mt.com.

METTLER TOLEDO is a leading global manufacturer of precision instruments. The Company is the world's largest manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications. The Company also holds top-three market positions in several related analytical instruments and is a leading provider of automated chemistry systems used in drug and chemical compound discovery and development. In addition, the Company is the world's largest manufacturer and marketer of metal detection systems used in production and packaging. Additional information about METTLER TOLEDO can be found on the World Wide Web at "www.mt.com."

Statements in this discussion which are not historical facts, which includes the Company's estimated range of full year EPS, may be considered "forward-looking statements" that involve risks and uncertainties. For a discussion of these risks and uncertainties, which could cause actual events or results to differ from those contained in the forward-looking statements, see Exhibit 99.1 to the Company's Annual Report on Form 10-K for the most recently ended fiscal year.