Unilever PLC — Annual Report 2003

Jun 30, 2003

11-K 1 w88052fe11vk.htm FORM 11-K UNILEVER - LIPTON SAVINGS PLANN e11vk PAGEBREAK

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 11-K

[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the period from January 1, 2002 to December 31, 2002

OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-4547 (Unilever N.V.)

A. Full title of the plan and the address of the plan, if different from that of issuer named below:

LIPTON SAVINGS PLAN FOR HOURLY EMPLOYEES OF THE INDEPENDENCE PLANT

UNILEVER UNITED STATES, INC.

390 PARK AVENUE NEW YORK, NEW YORK 10022

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

UNILEVER N.V. WEENA 455 3013 AL, ROTTERDAM THE NETHERLANDS

UNILEVER PLC UNILEVER HOUSE BLACK FRIARS LONDON EC4 PBQ ENGLAND

PAGEBREAK

LIPTON SAVINGS PLAN FOR HOURLY EMPLOYEES OF THE INDEPENDENCE PLANT

FINANCIAL STATEMENTS

AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2002 AND 2001

AND

INDEPENDENT AUDITORS’ REPORT

PAGEBREAK

LIPTON SAVINGS PLAN FOR HOURLY EMPLOYEES OF THE INDEPENDENCE PLANT

Financial Statements

Table of Contents

	Page
Independent Auditors’ Report	1
Financial Statements:
Statements
of Net Assets Available for Benefits as of December 31, 2002 and
2001	2
Statements
of Changes in Net Assets Available for Benefits for the years ended December 31,
2002 and 2001	3
Notes to Financial Statements	4-12
Certification of Administrative Committee

PAGEBREAK

Lipton Savings Plan for Hourly Employees of the Independence Plant Financial Statements As of and for the years ended December 31, 2002 and 2001

PAGEBREAK

Lipton Savings Plan for Hourly Employees of the Independence Plant Index

Report of Independent Auditors	1
Financial Statements:
Statements of Net Assets Available for Plan Benefits
as of December 31, 2002 and 2001	2
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2002 and 2001	3
Notes to financial statements	4-12
Supplemental Schedules (*)

(*) Supplemental schedules required by 29CFR2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have not been included as they are not required since these schedules are prepared for the Unilever United States, Inc. Master Savings Trust as a whole, of which this Plan is a component.

PAGEBREAK

link1 "Report of Independent Auditors"

Report of Independent Auditors

To the Participants and Administrator of the Lipton Savings Plan for Hourly Employees of the Independence Plant:

In our opinion, the accompanying statements of net assets available for plan benefits and the related statements of changes in net assets available for plan benefits present fairly, in all material respects, the net assets available for plan benefits of the Lipton Savings Plan for Hourly Employees of the Independence Plant (the “Plan”) at December 31, 2002 and 2001, and the changes in net asset available for plan benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan’s management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimate made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP

New York, New York June 24, 2003

PAGEBREAK

Lipton Savings Plan for Hourly 2

Employees of the Independence Plant Statements of Net Assets Available for Plan Benefits As of December 31, 2002 and 2001

	2002	2001
Assets
Investment in the Unilever United States, Inc. Master
Savings Trust, at fair value	$ 5,652,587	$ 6,129,248
Receivables:
Participant contributions	—	8,620
Company contributions	—	3,205
Total assets	5,652,587	6,141,073
Liabilities
Administrative expenses payable	277	490
Total liabilities	277	490
Net assets available for plan benefits	$ 5,652,310	$ 6,140,583

The accompanying notes are an integral part of these financial statements. PAGEBREAK

Lipton Savings Plan for Hourly 3

Employees of the Independence Plant Statements of Changes in Net Assets Available for Plan Benefits For the Years Ended December 31, 2002 and 2001

	2002		2001
Additions:
Additions to net assets attributed to:
Investment income:
Net depreciation in fair value of investments	$ (711,854	)	$ (546,769	)
Interest	174,057		166,032
Dividend income	18,915		27,058
Contributions:
Participant contributions	561,214		490,594
Company contributions	201,455		183,374
Total additions	243,787		320,289
Deductions:
Deductions from net assets attributed to:
Benefits paid to participants	730,646		808,649
Administrative expenses	1,414		1,995
Total deductions	732,060		810,644
Net deductions	(488,273	)	(490,355	)
Net assets available for plan benefits
Beginning of year	6,140,583		6,630,938
End of year	$ 5,652,310		$ 6,140,583

The accompanying notes are an integral part of these financial statements. PAGEBREAK

link1 "Notes to Financial Statements"

Lipton Savings Plan for Hourly 4

Employees of the Independence Plant Notes to Financial Statements

| 1. |
| --- |
| The Lipton Savings Plan for Hourly Employees of the Independence Plant (the
“Plan”) is a defined contribution plan and is subject to the provisions of
the Employee Retirement Income Security Act of 1974 (“ERISA”). Assets of
the Plan along with other assets from defined contribution plans sponsored
by Unilever United States, Inc. (the “Company” or “UNUS”) are maintained in
the Unilever United States, Inc. Master Savings Trust (the “Trust”). The
following brief description of the Plan is provided for general information
purposes only. Reference should be made to the Plan document for a
complete description of the Plan. |
| Eligibility |
| All hourly union employees at the Independence, Missouri facility of Lipton
(which is an operating division of UNUS) represented by the International
Brotherhood of Teamsters Local 83 following the completion of one year of
service are eligible to participate in the Plan. Leased employees are not
eligible to participate in the Plan. |
| Contributions |
| Participants’ contributions are made solely by individual election on a
before- and after-tax basis in amounts not to exceed 15% of the
participant’s compensation. The Company contributes 50% of the
participant’s contribution, up to a maximum of 8% of the employee’s
compensation. Before tax contributions are limited to $11,000 and $10,500
for the 2002 and 2001 plan years respectively. |
| All contributions are deposited in the Unilever United States, Inc. Master
Savings Trust (the “Trust”). |
| Vesting |
| Participant’s are fully vested in their contributions to their before-tax
and after-tax accounts as well as the earnings thereon. All Company
contributions are 100% vested, therefore there are no forfeitures in the
Plan. |
| Participant Accounts |
| Each participant’s account is credited with the participant’s contribution
and (a) the Company’s contribution, (b) an allocation of Plan earnings, and
(c) an allocation of forfeitures of terminated participant’s nonvested
accounts. Allocations are based on participant earnings or account
balances, as defined. The benefit to which a participant is entitled is
the benefit that can be provided from the participant’s vested account. |
| Withdrawals and Distributions |
| During employment, participants may withdraw all or part of their after-tax
account and earnings thereon. In addition, upon termination of employment,
participants are entitled to all of their after-tax account, their
before-tax savings account and their vested company matching account and
earnings thereon. |
| Participants may apply to the Benefits Administration Committee for a
financial hardship withdrawal of up to 100% of the amount of their vested
after-tax and before-tax accounts,
prior to attaining age 59-1/2, provided the withdrawal does not exceed the
amount of the hardship. |

PAGEBREAK

Lipton Savings Plan for Hourly 5

Employees of the Independence Plant Notes to Financial Statements

Investments
Participants have the option to invest in, and direct the Company matching
contributions towards any of the following funds:

| • | The PRIMCO Interest Income Fund is primarily invested in guaranteed
investment contracts issued by certain insurance companies and synthetic
guaranteed investment contracts wrapped by certain banks and insurance
companies. The investment contracts are fully benefit responsive investment
contracts which provide for a certain return for a specified period of time.
The crediting interest rates at December 31, 2002 and 2001 for the contracts
range from 1.35% to 7.70% and 4.19% to 8.18%, respectively. |
| --- | --- |
| • | The Fidelity Asset Manager Fund invests primarily in stocks, bonds, and
short-term cash instruments of both U.S. and foreign corporations and
governments. |
| • | The Pyramid Equity Index Fund invests primarily in stocks that comprise the
S&P 500 Index. |
| • | The Fidelity Magellan Fund invests in stocks and other securities (may
include up to 20% in bonds) of a variety of large, medium and small sized
companies in a variety of industries (both domestic and foreign). |
| • | The PIMCO Total Return Fund invests in government, corporate,
mortgage-backed, and foreign securities with an overall portfolio
duration averaging 3 to 6 years. |
| • | The Fidelity Equity Income Fund invests mainly in dividend-paying common and
preferred stocks, particularly of large, established companies with favorable
prospects for both increased dividends and capital growth. |
| • | The Harbor Capital Appreciation Fund invests mainly in common stocks of
domestic companies with market capitalizations of at least $1 billion,
which exhibit above-average earnings growth potential. |
| • | The Capital Guardian International Equity Fund invests primarily in
foreign stocks in developed markets and stocks of emerging markets. |
| • | The Unilever N.V. Stock Fund invests in shares of Unilever N.V. stock.
Unilever N.V. is the ultimate parent of Unilever United States. |
| • | The Fidelity Growth & Income Portfolio Fund seeks long-term capital
growth, current income, and growth of income by investing in equity
securities (including common and preferred stocks), convertible
securities, bonds, futures and options. |
| • | The Fidelity Contrafund seeks long-term capital appreciation by
investing primarily in common stock and securities convertible into
common stock. |
| • | The Capital Guardian Emerging Markets Fund invests principally in
developing country securities that are listed on a bona fide securities
exchange or are actively traded in an over-the-counter market. |
| • | The T. Rowe Price Small Cap Stock Fund invests at least 65% of its total
assets in stocks and equity-related securities of small companies. |

PAGEBREAK

Lipton Savings Plan for Hourly 6

Employees of the Independence Plant Notes to Financial Statements

| • | The JP Morgan Select Small Company Fund mainly invests in common stocks
of small companies with market capitalization of less than $1.2
billion. |
| --- | --- |
| • | The AF Washington Mutual Investors
Fund - Class A Fund invests primarily in
common stocks. The fund must be fully invested (95%) in the stocks of U.S.
companies that meet the fund’s “eligible list” criteria, which include
specific guidelines for return of capital, financial strength, and dividend
payment. |
| • | The Fidelity Select Healthcare Portfolio Fund normally invests at least 80%
of its assets in the common stocks of companies principally engaged in the
design, manufacture, or sale of products or services used for or in
connection with health care or medicine. The fund may invest in the
securities of domestic and foreign issuers. |
| • | The Fidelity Select Technology Portfolio Fund invests at least 80% of its
assets in the common stocks of companies principally engaged in offering,
using, or developing products, processes, or services that will provide or
will benefit significantly from technological advances and improvements.
The fund may invest in the securities of domestic and foreign issuers. |
| • | The Fidelity Select Financial Portfolio Fund invests at least 80% of its
assets in the common stocks of companies principally engaged in providing
financial services to consumers and the financial industry. The fund may
invest in the securities of domestic and foreign issuers. |
| • | The Fidelity Select Natural Resources Portfolio Fund invests primarily in
common stocks and in certain precious metals. The fund normally invests at
least 80% of its assets in the common stocks of companies principally engaged
in owning or developing natural resources, or supplying goods and services to
such companies, and in precious metals. The fund may invest in the
securities of domestic and foreign issuers. |
| • | The Fidelity Overseas Fund normally invests at least 65% of its total assets
in equity securities of companies from countries outside of North America. |

| Loans to Plan Participants |
| --- |
| Participants may borrow from their fund accounts a maximum of $50,000 reduced
by the highest outstanding balance of Plan loans during the one-year period
ending on the loan request date or the outstanding balance of prior Plan loans
as of the loan request date or up to 50% of their vested account balance. |
| Termination |
| Terminated participants may opt to leave their account balance invested in the
Plan until they attain age 70-1/2. Upon termination of service, that portion
of a participant’s company matching account which is not vested will be
forfeited. Forfeitures are used to reduce future Company matching
contributions. |
| While the Company has not expressed any intent to discontinue its
contributions or terminate the Plan, it is free to do so at any time. In the
event such discontinuance results in the termination of the Plan, the amount
in each member’s account becomes fully vested. |
| Administration |
| The Plan provides that the Benefits Administration Committee is
responsible for the general administration of the Plan. |

PAGEBREAK

Lipton Savings Plan for Hourly
Employees of the Independence Plant
Notes to Financial Statements

| Other |
| --- |
| At December 31, 2002 and 2001, there were 159 and 154 participants,
respectively, some of whom elected to invest in more than one fund. Set
forth below is the number of participants investing in each fund. |

2002	2001
PRIMCO Interest Income Fund	104	102
Fidelity Magellan Fund	55	63
Pyramid Equity Index Fund	73	83
Capital Guardian International Equity Fund	17	18
PIMCO Total Return Fund	5	—
Fidelity Equity Income Fund	1	—
Fidelity Contrafund	1	—
T. Rowe Price Small Cap Stock Fund	6	—
Fidelity Select Portfolio Financial Fund	2	—
Fidelity Select Portfolio Healthcare Fund	2	—
Fidelity Select Natural Resource Portfolio Fund	1	—
Fidelity Select Technology Portfolio Fund	5	—
Capital Guardian Emerging Markets Fund	2	—
Unilever N.V. Stock Fund	8	—
AF Washington Mutual Investors Fund	2	—
Fidelity Assets Manager Fund	23	—

| 2. |
| --- |
| Basis of Accounting |
| The Plan’s financial statements are prepared on the accrual basis of
accounting in conformity with generally accepted accounting principles. |
| Valuation of Trust Investments |
| Shares of participation in the various funds, other than the Interest
Income Fund and the Unilever N.V. Stock Fund, are valued based on quoted
market prices as of the last business day of the year. |
| The guaranteed investment contracts and the synthetic guaranteed investment
contracts in the Interest Income Fund are stated at contract value, which
approximates fair value. |
| Unilever N.V. stock in the Unilever N.V. stock fund is valued at market
value based on its quoted market price as of the last business day of the
year. |
| Investment Transactions and Investment Income of the Trust |
| Dividend income is recorded on the ex-dividend date. Income from other
investments is recorded as earned on an accrual basis. The average cost
basis is used in determining gain or loss on Trust investments sold. |
| Purchases and sales of securities are reflected as of the trade date. |

PAGEBREAK

Lipton Savings Plan for Hourly
Employees of the Independence Plant
Notes to Financial Statements

| | The Plan presents in the Statement of Changes in Net Assets Available for
Plan Benefits the net appreciation (depreciation) in the fair value of its
investments, which consists of the realized gains and losses and the
unrealized appreciation (depreciation) on those investments. |
| --- | --- |
| | Benefit Payments |
| | Benefit payments are recorded when paid. |
| | Administrative Expenses |
| | Investment management fees for all funds are paid by the Plan. All other
administrative expenses are paid by the Company. |
| | Use of Estimates |
| | The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
changes therein, and disclosure of contingent assets and liabilities at the
date of the financial statements. These significant estimates include fair
market values of investments. Actual results could differ from those
estimates. |
| | Risks and Uncertainties |
| | The Plan provides for various investment options in any combination of
stocks, bonds, fixed income securities, mutual funds, and other investment
securities. Investment securities are exposed to various risks, such as
interest rate, market and credit. Due to the level of risk associated with
certain investment securities and the level of uncertainty related to
changes in the value of investment securities, it is at least reasonably
possible that changes in risks in the near term would materially affect
participants’ account balances and the amounts reported in the statement of
net assets available for plan benefits and the statement of changes in net
assets available for plan benefits. |
| | The Trust is exposed to credit loss in the event of non-performance by the
companies with whom guaranteed investment contracts are placed. However,
the Plan administrator does not anticipate non-performance by these
companies. The Plan administrator believes that the risk to the Trust
portfolio from credit loss is not material due to the diversified nature of
assets held. |
| 3. | Tax Status of the Plan |
| | The Plan received a favorable tax determination letter, effective September
19, 2002, in which the Internal Revenue Service stated that the Plan, as
then designed, was in compliance with the applicable requirements of the
Internal Revenue Code. The Plan has been amended since receiving the
determination letter. However, the Plan administrator and the Plan’s tax
counsel believe that the Plan is currently designed and being operated in
compliance with the applicable requirements of the Internal Revenue Code.
Therefore, no provision for income taxes has been included in the Plan’s
financial statements. |
| 4. | Investments Held by the Trust |
| | The Trust primarily comprises the assets of the following plans: |

•	Unicare Savings Plan
•	Savings Plan for Lever Brothers Employees Represented by the ICWUC

PAGEBREAK

Lipton Savings Plan for Hourly
Employees of the Independence Plant
Notes to Financial Statements

• Thrift and Savings Plan for “Certain” Employees of Lever Brothers Company

| The plans listed above comprise approximately 99% of the investments held by
the Trust as of December 31, 2002 and 2001. The Trust also holds investments
for a number of other Plans sponsored by subsidiaries of Unilever United
States, Inc. The Plan has an undivided interest in certain assets of the Trust
and sole interests in other assets of the Trust. Certain investment assets of
the Trust and related earnings are allocated to the Plans participating in the
Trust based upon the total of each individual participant’s share of the Trust.
On an overall basis, the Plan has a 0.4% interest in the investments of the
Trust as of December 31, 2002 and 2001, respectively. |
| --- |
| The Plan’s approximate share of investments held by the Trust at December 31,
2002 and 2001 were as follows: |

Short-Term Investment Fund	0.4 %	0.6 %
Mutual Funds	0.3 %	0.4 %
Commingled Fund	0.4 %	0.0 %
Guaranteed Investment Contracts	0.4 %	0.6 %
Synthetic Guaranteed Investment Contracts	0.4 %	0.6 %
Unilever N.V. Stock Fund	0.0 %	0.0 %
Loan Fund	0.0 %	0.0 %

PAGEBREAK

Lipton Savings Plan for Hourly
Employees of the Independence Plant
Notes to Financial Statements

At December 31, 2002 and 2001, the financial position of the Trust was as follows:

	2002	2001
Investments at fair value:
Short-term investment fund (cost approximates
fair value)	$ 35,371,960	$ 23,726,778
Mutual funds (cost $905,724,446 and $769,102,302)	751,105,336	764,762,887
Commingled Funds (cost approximates contract value)	202,681,776
Guaranteed investment contracts
(cost approximates contract value)	40,741,306	60,459,687
Synthetic guaranteed investment contracts
(cost approximates contract value)	468,057,093	435,615,806
Unilever N.V. stock fund (cost $36,206,283
and $34,543,297)	47,993,726	45,426,090
Total investments	1,545,951,197	1,329,991,248
Loans to participants	35,844,164	28,703,574
Total Master Trust	$ 1,581,795,361	$ 1,358,694,822

The following presents investments that represent 5 percent or more of the Trust’s net assets for the years ended December 31, 2002 and 2001:

	2002	2001
Fidelity Magellan Fund, 2,077,095 and
1,778,893 shares, respectively	$ 164,007,433	$ 185,375,412
PRIMCO Interest Income Fund, 744,374,486 and
520,422,309 shares, respectively	744,374,486	520,422,309
PIMCO Total Return Institutional Fund, 10,937,373
and 9,260,476 shares, respectively	116,701,769	96,864,580
Pyramid Equity Index Fund, 19,863,159 and
21,034,689 shares, respectively	142,220,220	193,308,791
Harbor Capital Appreciation Fund,
4,676,266 shares	—	136,687,251

PAGEBREAK

Lipton Savings Plan for Hourly
Employees of the Independence Plant
Notes to Financial Statements

The changes in the Trust net assets for the years ended December 31, 2002 and 2001 were as follows:

	2002		2001
Additions:
Additions to net assets attributed to:
Investment income:
Net depreciation in fair value of investments	$ (187,682,832	)	$ (119,155,207	)
Interest	46,638,494		33,758,960
Dividends	14,005,847		13,679,947
	(127,038,491	)	(71,716,300	)
Contributions and other additions:
Contributions from participants	68,927,238		57,700,320
Contributions from employer	35,906,392		25,555,536
Rollover contributions	17,652,154		24,852,113
Transfer of plan assets in from affiliated plans	491,726,019		19,409
Total additions	487,173,312		36,411,078
Deductions:
Deductions from net assets attributed to:
Benefits paid to participants	238,685,493		154,352,282
Administrative expenses	497,686		674,439
Transfer of plan assets out to unaffiliated plans	24,889,594		33,367,220
Total deductions	264,072,773		188,393,941
Net additions/(deductions)	223,100,539		(151,982,863	)
Net assets available for benefits:
Beginning of year	1,358,694,822		1,510,677,685
End of year	$ 1,581,795,361		$ 1,358,694,822

PAGEBREAK

Lipton Savings Plan for Hourly
Employees of the Independence Plant
Notes to Financial Statements

The net appreciation (depreciation) of investments held in the Trust by fund, which consists of the realized gains (losses) and the unrealized appreciation (depreciation) on these investments for the years ended December 31, 2002 and 2001 was as follows:

	2002		2001
Net (depreciation) appreciation in fair value
of investments:
Mutual funds	$ (191,378,572	)	$ (114,735,571	)
Unilever N.V. stock	3,695,740		(4,419,636	)
Net depreciation	$ (187,682,832	)	$ (119,155,207	)

| 5. |
| --- |
| The Unilever N.V. Stock Fund invests in shares of Unilever N.V. Stock.
This fund is designed as a means for employees to participate in the
potential long-term growth of Unilever. |
| Certain Trust investments consist of units in investment funds managed by
Fidelity. Fidelity owns these investment funds, and is a party-in-interest
as defined by ERISA. In the opinion of the Plan administrator, fees paid
during the year for services rendered by parties-in-interest were based on
customary and reasonable rates for such services. |

PAGEBREAK

Consent of Independent Accountants

, 2003

We hereby consent to the incorporation by reference in that certain Registration Statement on Form S-8 of Unilever N.V., File Number 333-14244, of our report dated June 24, 2003, relating to the financial statements of the Lipton Savings Plan for Hourly Employees of the Independence Plant as of December 31, 2002 and 2001 and for the years then ended which appear in this Form 11-K.

/s/ PricewaterhouseCoopers LLP

New York, New York June 27, 2003

PAGEBREAK

link1 "SIGNATURE"

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

EMPLOYEES OF THE INDEPENDENCE PLANT
By:	/s/ Jacqueline Ross
	JACQUELINE ROSS
	SENIOR COUNSEL—
	EMPLOYEE BENEFITS

June 27, 2003

PAGEBREAK

link1 "CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADDED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002"

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADDED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of the Lipton Savings Plan for Hourly Employees of the Independence Plant (the “Plan”) on Form 11-K for the period ending December 31, 2002 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jacqueline Ross, Secretary – Unilever United States Benefits Administrative Committee, certify, pursuant to 18 U.S.C. §1350, as added by § 906 of the Sarbanes-Oxley Act of the 2002, that, based on my knowledge:

| (1) | The Report fully complies with the requirements of section 13(a) or 15(d)
of the Securities Exchange Act of 1934; and |
| --- | --- |
| (2) | The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Plan. |

	UNILEVER UNITED STATES BENEFITS
	ADMINISTRATIVE COMMITTEE
By:	/s/ Jacqueline Ross
	JACQUELINE ROSS
	SECRETARY

June 27, 2003

PAGEBREAK

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADDED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of the Lipton Savings Plan for Hourly Employees of the Independence Plant (the “Plan”) on Form 11-K for the period ending December 31, 2002 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Robert Rinaldi, Director, Benefits, Finance and Investments – Unilever United States, Inc., certify, pursuant to 18 U.S.C. §1350, as added by § 906 of the Sarbanes-Oxley Act of the 2002, that, based on my knowledge:

| (1) | The Report fully complies with the requirements of section 13(a) or 15(d)
of the Securities Exchange Act of 1934; and |
| --- | --- |
| (2) | The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Plan. |

	UNILEVER UNITED STATES BENEFITS ADMINISTRATIVE COMMITTEE
By:	/s/ Robert Rinaldi
	ROBERT RINALDI
	DIRECTOR, BENEFITS, FINANCE & INVESTMENTS
	– UNILEVER UNITED STATES, INC.

June 27, 2003