Akzo Nobel Sells U.S. Injection Moulding Plastic Packaging Business

Akzo Nobel Sells U.S. Injection Moulding Plastic Packaging Business Arnhem, the Netherlands, October 19, 1998. - Akzo Nobel N.V. announced today that its wholly owned subsidiary Akzo Nobel UK plc (formerly Courtaulds plc) had agreed to sell its US-based injection moulding plastic packaging business, Knight Engineering & Plastics, part of the Polymer Products division, to Berry Plastics Corporation. The consideration is less than one per cent of Akzo Nobel's net assets. The sale is free of debt. Knight Engineering & Plastics is a leading manufacturer in the U.S. of aerosol overcaps, dispensing closures and non-dispensing screw top closures for the personal, health and dental care markets. The business has manufacturing facilities at Arlington Heights and Woodstock, Ilinois, U.S. In the year ended March 31, 1998, it had sales of USD 23.8 million. 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 are continuing with this process, of which this sale is a part. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals, and fibers. The company currently employs some 88.000 people in more than 60 countries. Consolidated sales for 1997 totaled NLG 24.1 billion (USD 12 billion / GBP 7.5 billion). For more information please contact: Akzo Nobel N.V. John Jennings, tel. +31 26 366 4343 Akzo Nobel UK plc lan Harrison, tel. +44 171 612 1157