Akzo Nobel Sells European Plastic Tubes Business

Akzo Nobel Sells European Plastic Tubes Business Arnhem, the Netherlands, January 14, 1999. - Akzo Nobel N.V. has sold its U.K. based Plastic Tubes business to the existing senior management team of the business. Plastic Tubes is a leading manufacturer in the U.K. of extruded plastic tubes primarily for the toiletries and cosmetics markets. The acquisition of Courtaulds by Akzo Nobel became unconditional on July 7, 1998. Courtaulds had previously announced that it intended to sell its Polymer Products group of businesses, comprising Packaging and Performance Films. Akzo Nobel is continuing with this process, of which this sale is part. The sale of its Plastics Packaging, Laminate and Aluminium Tube businesses, was announced on November 27, 1998. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals and fibers. The fibers businesses, now known as Acordis, will be demerged in the course of the second half of 1999. The company currently employs some 87,500 people in more than 60 countries. Consolidated sales for 1997 totaled NLG 24.1 billion (USD 12 billion / GBP 7.5 billion / EUR 10.8 billion). Financial results for 1998 will be announced February 22, 1999. - - - Internet: http://www.akzonobel.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/01/15/19990115BIT00060/bit0001.doc http://www.bit.se/bitonline/1999/01/15/19990115BIT00060/bit0002.pdf