Akzo Nobel completes two Chemicals divestments

Akzo Nobel completes two Chemicals divestments Arnhem, the Netherlands, August 2, 2004 - As expected Akzo Nobel has completed the sale of its Catalysts and Phosphorus Chemicals businesses for a total of some EUR 850 million, free of cash and debt and prior to final closing adjustments for working capital. Hans Wijers, Chairman of Akzo Nobel's Board of Management, said: "The Company's drive to create more financial room to maneuver is on track. The closing prices truly reflect the value of these businesses and we will use the proceeds to reduce net debt and to strategically upgrade our portfolio." Both deals involve all assets and all current employees of the businesses. The Catalysts divestment includes shares in joint venture companies. Unions and employee representative bodies, where applicable, have advised positively on the sales and all required regulatory approvals have been obtained. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2003 totaled EUR 13 billion. The Company currently employs almost 64,000 people in more than 80 countries. The financial results for the third quarter will be published on October 19, 2004. Internet: www.akzonobel.com Not for publication - for more information Akzo Nobel N.V. Corporate Media Relations, tel. +31 26 366 4343 Contact: John Jennings Safe Harbor Statement* This press release may contain statements which address such key issues as Akzo Nobel's growth strategy, future financial results, market positions, product development, pharmaceutical products in the pipeline, and product approvals. Such statements should be carefully considered and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more complete discussion of the risk factors affecting our business please refer to our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission. A copy of which can be found on the Company's website. * Pursuant to the U.S. Private Securities Litigation Reform Act 1995. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/02/20040802BIT20050/wkr0001.pdf pdf version av pressmeddelandet