Akzo Nobel N.V. — M&A Activity 2008

Aug 20, 2008

Akzo Nobel N.V. Corporate Communications Strawinskylaan 2555 P.O. Box 75730 1070 AS Amsterdam T +31 (0)20 502 7833 F +31 (0)20 502 7604 www.akzonobel.com

Press release

August 19, 2008

AkzoNobel reaches final agreements for Decorative Paints divestments in connection with ICI acquisition

AkzoNobel has agreed to sell its Crown Paints decorative paints business in the United Kingdom and Ireland to Endless LLP, an independent private equity house. AkzoNobel has also agreed a deal to sell two Belgian brands to Rieu Investissements S.A., a French producer of coatings. These divestments are a consequence of the commitment package which was agreed with the European Commission in connection with AkzoNobel's acquisition of Imperial Chemical Industries plc (ICI) in January 2008.

In the United Kingdom and Ireland, the transaction includes the manufacturing and warehouse sites in Darwen, Hull, Warrington, Dublin and Belfast, as well as the Crown Decorator Centre network and a brand portfolio encompassing brands such as Crown®, Crown Trade®, Berger®, MacPherson®, Permoglaze® and Sandtex®. It also includes the company's export activities (including export to Cyprus) related to these brands and a license for the use of its Sadolin® brand in the UK and Ireland. Subject to the approval by the European Commission, the deal is expected to be completed in the third quarter of 2008. No financial details were disclosed.

Endless LLP is an independent private equity house specializing in the provision of equity funding to support re-financing, buy-out, turnaround and property transactions for the corporate mid market. The company is based in the United Kingdom with offices in Leeds, Manchester, Birmingham, London and Northern Ireland. The company was established in December 2005 and to date has invested in more than 20 acquisitions across the United Kingdom.

With respect to the Belgian market, AkzoNobel has agreed to sell the DeKeyn® and Linitop® brands to Rieu Investissements S.A. The transaction also includes a license for the use of its Sadolin® brand in Belgium for a period of five years. As part of this transaction, AkzoNobel has also agreed to sell its stake in Owatrol International S.L. and related intellectual property to Rieu. Subject to the approval by the European Commission, the deal is expected to be completed in the third quarter of 2008. No financial details were disclosed.

Rieu Investissements S.A. is a family-owned firm founded in 1923. The company, based in Bondoufle, near Paris, manufactures and sells various types of coatings for industrial and consumer applications.

In June, AkzoNobel already reported the divestment of two Canadian brands, as required by the Canadian Competition Bureau. Subject to approval by the European Commission the sales announced today conclude the divestments agreed with regulatory authorities in connection with the ICI acquisition.

Note to editors – not for publication

AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals – pro forma 2007 revenue totaled €14.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees – who are based in more than 80 countries – are committed to excellence and delivering Tomorrow's Answers Today™.

Not for publication – for more information

Akzo Nobel nv Contact: Holger Ebbighausen Contact: Dick Luijckx

Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7856

Safe Harbor Statement

This press release contains statements which address such key issues as AkzoNobel's growth strategy, future financial results, market positions, product development, 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, changes in the final purchase price allocation for ICI, 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 comprehensive discussion of the risk factors affecting our business please see our latest Annual Report, a copy of which can be found on the company's corporate website www.akzonobel.com.