SECURITIES AND EXCHANGE COMMISSION Washington

	S & P 500 Index Fund: This fund is designed to match the risk and return of the Standard & Poor's 500 Index, a broadly based average of the U.S. equity market.
	Matrix Equity Fund: This fund is invested in a broad range of diversified common stocks.
	MTI Common Stock Fund: This fund invests in the Company's common stock. All Company matching contributions are invested in this fund and are non-participant-directed. Employee contributions are participant-directed.
	Pfizer Common Stock Fund: This fund invests in the common stock of Pfizer Inc. The fund holds contributions to the Pfizer Common Stock Fund, which were transferred from Pfizer Inc when the Plan was activated. No new contributions can be made to this fund.
	International Fund: This fund invests in a broad range of international stocks traded in public markets.
	Mutual Fund Window: This is a participant-directed brokerage account which invests primarily in a variety of publicly available mutual funds.
	The investments of the Plan are maintained in a trust (the Trust) held by State Street Bank and Trust Company. The Trust was established on December 30, 1992. The Trust agreement provides that any portion of any funds may, pending its permanent investment or distribution, be invested in short-term investments.
	Participant Loans
	Participants may borrow from their accounts an amount up to $50,000 or 50 percent of their account balance, whichever is less. The minimum amount a participant may borrow is $1,000. The loan repayments and interest earned are allocated to each eligible investment option based upon the participant's current contribution election percentages.
	The loans are secured by the balance in the participant's account and bear interest at rates that range from 5.00 percent to 10.50 percent, which are commensurate with prevailing rates as determined quarterly by the Plan administrator. At December 31, 2004, there were 397 individual loans outstanding, carrying an average interest rate of 6.10 percent, with maturities through the year 2019.
	Payment of Benefits
	On termination of service due to death, disability, retirement, or other reasons a participant would receive a lump-sum amount equal to the value of the participant's account. In-service withdrawals may also be made under certain circumstances.

(2)	Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying financial statements have been prepared on the accrual basis of accounting.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

MINERALS TECHNOLOGIES INC. SAVINGS AND INVESTMENT PLAN Statements of Net Assets Available for Benefits (in thousands)


				December 31,

					2004		2003

Investments (Note 3):
	In securities of participating employer			$	44,350	$	38,952
	In securities of unaffiliated issuers:
		Common stock			54,186		80,268
		Commingled funds			85,131		77,658
		Mutual funds			3,913		3,594
	Loans to participants				3,184		3,239


Total investments					190,764		203,711

Contributions receivable					--		355
Dividends and interest receivable					126		86
Due from broker for securities sold					--		161
Cash and cash equivalents					808		391


			Net assets available for benefits	$	191,698	$	204,704

MINERALS TECHNOLOGIES INC. SAVINGS AND INVESTMENT PLANT Statements of Changes in Net Assets Available for Benefits (in thousands)

								Year Ended December 31,

									2004			2003

Additions:
	Additions to net assets attributed to:
		Investment income (loss):
			Net appreciation (depreciation) in fair value of investments (Note 3)					$	( 7,011	)	$	33,287
			Dividends						2,020			1,546
			Interest						1,308			1,300


						Investment income (loss)			( 3,683	)		36,133


		Contributions:
				Participants					6,460			6,370
				Participants' rollovers					231			546
				Employer					3,030			2,973


					Total contributions				9,721			9,889


					Net additions				6,038			46,022


Deductions from net assets attributed to:
	Benefits paid to participants								19,019			11,385
	Administrative expenses (Note 7)								25			16


							Total deductions		19,044			11,401


							Net (decrease) increase		( 13,006	)		34,621

Net assets available for benefits:
				Beginning of year					204,704			170,083

				End of year				$	191,698		$	204,704

(1)	Description of Plan
	The following description of the Minerals Technologies Inc. Savings and Investment Plan (the Plan) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions.
	General
	The Plan is a defined contribution plan sponsored by Minerals Technologies Inc. (the Plan Sponsor or Company). Employees become eligible to participate in the Plan on the date of their employment.
	The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
	Contributions
	Each participant may elect to contribute between 2% and 15% of his or her eligible earnings. Contributions may be made on a before-tax basis, on an after-tax basis or on a combined basis. Employee contributions of up to 2% of compensation are matched 100% by the Company and the next 4% are matched 50% by the Company. Employee contributions in excess of 6% are not matched. The Company's matching contributions are invested solely in the Company's common stock. Contributions due from the Company amounted to $114,000 at December 31, 2003.
	Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. Participants direct the investment of their contributions into various investment options offered by the Plan. The maximum before-tax contribution was generally $13,000 and $12,000 for 2004 and 2003, respectively.
	However, a participant's contributions may be further limited as a result of the nondiscrimination test criteria as defined by the Internal Revenue Code (IRC).
	Participant Accounts
	Each participant's account is credited with the participant's contribution and allocations of (a) the Company's contribution and (b) Plan earnings, and charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account.
	Vesting
	Participants are fully vested in the entire value of their accounts at the time of contribution.
	Investment Options
	Each participant in the Plan elects to have contributions invested in any one or a combination of the following separate investment options:
	Fixed Income Fund: This fund is invests high-quality investment contracts issued by insurance companies, banks and other financial institutions, as well as short-term investment products. Investment contracts pay a fixed or variable interest rate over the life of the contract.
	Balanced Growth Fund: This fund is invested in stocks, bonds and cash equivalents. Approximately 50% of the fund is invested in common stocks of U.S. companies, 40% in fixed income securities, and 10% in international equities.

	Investment Valuation and Income Recognition
	Investments in the Principal Accumulation Return Fund are valued at cost plus reinvested interest, which approximates fair value. Short-term investments are recorded at cost, which approximates fair value. The MTI Common Stock Fund, Pfizer Common Stock Fund, and Mutual Fund Window are stated at quoted market price. The Balanced Growth Fund, S & P 500 Index Fund, Matrix Equity Fund and International Fund are stated at fair market value reported by the fund manager based on the underlying investment within each fund and are expressed in units representing the net asset value of the fund. The value of a unit will fluctuate in response to various factors including, but not limited to, the price of the underlying shares, dividends paid, earnings and losses, and the mix of assets in the respective fund. Loans receivable from participants are valued at cost, which approximates fair value.
	Purchases and sales of securities are recorded on a trade date basis. The net appreciation (depreciation) in fair value of investments consists of the net realized gains and losses from the sale of investments and the unrealized appreciation (depreciation) of the fair value for the investments remaining in the Plan.
	Dividend income is recorded on the ex-dividend date. Income from other investments is recorded on an accrual basis.
	Fair Value of Financial Instruments
	The carrying amounts of cash and cash equivalents, contributions receivable and dividends and interest receivable approximate fair value because of the short maturities of those instruments.
	Payment of Benefits
	Benefits are recorded when paid.

(3)	Investments
	The following presents investments that represent 5 percent or more of the Plan's net assets:

(in thousands)		December 31,

			2004		2003

MTI Common Stock Fund,**
	664 and 657 units, respectively	$	44,350	$	38,952

Pfizer Common Stock Fund,*
	2,015 and 2,272 units, respectively	$	54,186	$	80,268

Fixed Income Fund,
	25,789 and 25,981 units, respectively	$	25,789	$	25,981

Balanced Growth Fund
	489 and 420 units, respectively	$	11,490	$	9,258

S&P 500 Index Fund,
	120 and 122 units, respectively	$	26,443	$	24,270

Matrix Equity Fund,
	886 and 921 units, respectively	$	17,228	$	16,136

(5)	Plan Terminations

	Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan by action of the Company's Board of Directors, subject to the provisions of ERISA. Upon termination of the Plan, each participant thereby affected would receive the entire value of his or her account as though he or she had retired as of the date of such termination. No part of the assets in the investment funds established pursuant to the Plan would at any time revert to the Company.

(6)	Tax Status

	The Internal Revenue Service (IRS) determined and informed the Company by a letter dated October 22, 2002, that the Plan and related Trust established thereunder are properly designed and, thus, qualified and tax exempt, respectively, within the meaning of Sections 401(a) and 501(a) of the IRC. The Company believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC.

(7)	Administrative Costs

	The Company pays all costs of administering the Plan except for the fees of the investment advisor, if any, for each fund, which are charged to the respective funds. Fees paid by the Plan for loan origination and maintenance trustee expenses amounted to $25,000 and $16,000 for the years ended December 31, 2004 and 2003, respectively. However, participants are responsible for any origination and maintenance fees for each loan, and certain expenses for participating in the Mutual Fund Window.

(8)	Related-Party Transactions

	Certain Plan investments are shares of commingled funds managed by State Street Bank and Trust Company. State Street Bank and Trust Company is the Trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions.

	Certain Plan investments are shares of the Company's common stock, which qualify as party-in-interest transactions.

(9)	Concentration of Risks and Uncertainties

	The Plan's exposure to a concentration of credit risk is limited by the diversification of investments across several participant-directed fund elections. Additionally, the investments within each participant-directed fund election are further diversified into varied financial instruments, with the exception of the MTI and Pfizer common stock funds, which principally invest in security of a single issuer.

	The Plan offers a number of investment options including MTI and Pfizer common stock and a variety of investment funds, some of which are mutual funds. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risk. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statements of net assets for benefits and participant account balances.

Minerals Technologies Inc. Savings and Investment Plan




By:	/s/ John A. Sorel

	John A. Sorel Senior Vice President - Finance and Chief Financial Officer Member, Minerals Technologies Inc. Savings and Investment Plan Committee