media release

Akzo Nobel Completes ICI Acquisition

PRESS RELEASE: The boards of Akzo Nobel N.V. and Imperial Chemical Industries PLC are pleased to announce that the Scheme of Arrangement has now become effective in accordance with its terms.

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, the Netherlands, January 2, 2008 — The boards of Akzo Nobel N.V. (“Akzo Nobel”) and Imperial Chemical Industries PLC (“ICI”) are pleased to announce that the Scheme of Arrangement has now become effective in accordance with its terms.

It is intended that the listing of ICI Shares on the Official List will be cancelled and that ICI Shares will cease to be admitted to trading on the London Stock Exchange from 8:00 a.m. (London time) on 3 January 2008. ICI Shares were suspended from listing and dealings on the London Stock Exchange at 5:00 p.m. (London time) on 19 December 2007.

the terms of the Scheme, ICI shareholders are entitled to receive 670 pence for each ICI Share held at the Scheme Record Time (6:00 p.m. (London time) on 19 December 2007) and, to the extent that they are entitled to receive Loan Notes under the Loan Note Alternative, £1.00 of Loan Notes for each £1.00 of cash consideration to which they would otherwise be entitled under the Scheme. Holders of ICI Shares will also receive a second ordinary interim dividend of 5 pence per ICI Share held at the Scheme Record Time, in relation to the period from 1 July 2007 to 31 December 2007.

of the cash consideration in respect of ICI Shares and the issue of certificates in respect of the Loan Notes under the Loan Note Alternative will be effected within 14 days of today in accordance with the terms of the Scheme.

terms used but not defined in this announcement have the same meanings as set out in the Scheme Document dated 1 October 2007.

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