Amsterdam, the Netherlands, March 17, 2008
At the current share price, this first tranche represents approximately 7.5 percent of the common shares outstanding. Subject to shareholder approval, Akzo Nobel intends to cancel the repurchased shares.
The repurchase price will be based on the daily VWAP (Volume Weighted Average Price) and the program will fully comply with the Safe Harbor trading and volume restrictions of the Market Abuse Directive. Akzo Nobel will provide weekly progress updates to the market.
ING Wholesale Banking will carry out this €1 billion open market repurchase program.