media release 070730 PR Further Proposal from Akzo Nobel Rejected by ICI July 30, 2007 PRESS RELEASE: Akzo Nobel announces that it has made a further approach to the board of ICI with an increased offer proposal of 650p per share in cash. However, the proposal has been rejected on the grounds that it did not reflect the full value of ICI. Not for release, publication or distribution in, into or from Australia, Canada or Japan. Arnhem, the Netherlands, July 30, 2007 - Akzo Nobel NV (“Akzo Nobel”) announces that it has made a further approach to the board of Imperial Chemical Industries PLC (“ICI”) with an increased offer proposal of 650p per share in cash. However, the proposal has been rejected on the grounds that it did not reflect the full value of ICI. Akzo Nobel was able to make an increased offer proposal after it had entered into an exclusive arrangement with Henkel KGaA (“Henkel”) for the sale, following completion of its proposed offer, of ICI’s Adhesives and Electronic Materials businesses. Nobel and Henkel have negotiated a back to back agreement relating to this proposed sale which, subject to the approval of Henkel’s Shareholders’ Committee, they would intend to execute immediately prior to the formal announcement of an offer by Akzo Nobel. The exclusivity agreement with Henkel enables both Akzo Nobel and Henkel to each focus on the businesses that offer them most synergies thereby meeting their respective stated strategic and financial objectives. It would also allow Akzo Nobel to return further cash to its shareholders. Nobel continues to believe that ICI would represent a highly attractive addition to its coatings business. Akzo Nobel’s increased proposal would provide ICI shareholders with a 40% premium to ICI’s share price of 464.25 pence on March 9th, 2007, the last business day prior to Akzo Nobel’s announcement in relation to the disposal of Organon BioSciences. Nobel is evaluating its options. Whilst discussions continue, Akzo Nobel will remain financially disciplined. can be no certainty that any further proposal will be made to the board of ICI or that any offer or transaction will result. A further announcement will be made if appropriate.