Recommended Cash Offer for Imperial Chemical Industries plc by Akzo Nobel NV

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The board of Imperial Chemical Industries PLC (“ICI”) announces that on 20 December 2007, the Court confirmed the Reduction of Capital required to effect the recommended acquisition of ICI by Akzo Nobel N.V (“Akzo Nobel”).

It is expected that the Scheme will become effective on 2 January 2008 and that ICI Shares will cease to be listed on the Official List and their admission to trading on the London Stock Exchange will be cancelled at 8:00 a.m. (London time) on 3 January 2008.

Upon completion of the acquisition, holders of ICI Shares will be entitled to receive 670 pence for each ICI Share held at the Scheme Record Time (6:00 p.m. 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 for each ICI Share held at the Scheme Record Time, in relation to the period from 1 July 2007 to 31 December 2007, provided that, if the Effective Date falls prior to 31 December 2007, such dividend will be paid pro rata by reference to where the Effective Date falls between 1 July 2007 and 31 December 2007. The Effective Date is expected to be 2 January 2008.

Settlement of the cash consideration and the issue of certificates in respect of the Loan Notes under the Loan Note Alternative are expected to be effected within 14 days of the Effective Date Capitalised terms used but not defined in this announcement have the same meanings as set out in the Scheme Document dated 1 October 2007.