media release

Akzo Nobel shareholders approve dividend

Press Release - Shareholders of Akzo Nobel, the international pharmaceuticals, coatings and chemicals company, have approved the 2004 annual accounts and set the dividend for the 2004 financial year at EUR 1.20 (2003: EUR 1.20) per common share.

An interim dividend of EUR 0.30 was paid in November 2004. The final dividend will thus be EUR 0.90 per share. This results in a dividend payment of EUR 343 million, a payout ratio of 45% (2003: 42%) relative to net income excluding nonrecurring items. This final dividend will be made payable from May 2, 2005. The Akzo Nobel shares will be traded ex-final dividend on Euronext Amsterdam on April 25, 2005.

Changes in the Supervisory Board
At today’s meeting, shareholders approved the proposal to appoint Maarten van den Bergh (63) to the Supervisory Board for a four-year term, effective May 1, 2005. Mr. Van den Bergh is non-executive Chairman of the Board of Lloyds TSB Group and former President of Royal Dutch Petroleum Company and Vice-Chairman of the Committee of Managing Directors of the Royal Dutch/Shell Group.

Abraham Cohen (68) was reappointed to serve on the Supervisory Board for a further four-year term.

Maarten van Veen (70), who has served on the Supervisory Board since 1997, resigned having reached the statutory age limit. During the meeting, the Chairman of the Supervisory Board, Aarnout Loudon, expressed the Company’s deep appreciation to Mr. Van Veen for his outstanding services to Akzo Nobel.

Changes in the Board of Management
May 1, 2005, Rudy van der Meer will retire as Member of the Board of Management. Hans Wijers will take over responsibility for Akzo Nobel’s Coatings businesses, in addition to his function as Chief Executive Officer.

During the meeting, Mr. Loudon expressed the Company’s great indebtedness to Mr. Van der Meer for his excellent services to Akzo Nobel during an outstanding career spanning 32 years.

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