Akzo Nobel Implements Name Change for Courtaulds

Akzo Nobel Implements Name Change for Courtaulds. Arnhem, the Netherlands, September 10, 1998. - Akzo Nobel NV announces that it will shortly change the name of Courtaulds plc, which it acquired in July, to Akzo Nobel UK plc. The units and subsidiaries of Courtaulds plc whose names include the word "Courtaulds" will phase out their use of that name over the next few months and will, where applicable, adopt the Akzo Nobel name. An announcement about the new name for the combined Fibers businesses of Courtaulds and Akzo Nobel will be made in the near future. Akzo Nobel has stated its intention to spin off the combined fibers business in 1999. Akzo Nobel expects the procedure for compulsory acquisition of the outstanding ordinary shares of Courtaulds to be completed on September 17, 1998, and will apply to the London Stock Exchange for the Courtaulds ordinary shares to be delisted as at that date. The Annual General Meeting of Courtaulds plc, which was provisionally scheduled for September 23, 1998, will be deferred to a later date. Akzo Nobel, headquartered in the Netherlands, is a market-driven and technology-based company, serving customers throughout the world with healthcare products, coatings, chemicals, and fibers. The company employs 70,000 people and has activities in more than 60 countries. In 1997, consolidated sales aggregated NLG 24.1 billion (USD 12 billion / GBP 7.5 billion). In July of this year, Akzo Nobel acquired control of Courtaulds through a recommended cash offer. - - - Note for the editor / not for publication: For more information please contact: Akzo Nobel NV John Jennings, Tel. +31 26 3664343 Courtaulds plc Ian Harrison, Tel. +44 171 6121157