Akzo Nobel NV (AMS:AKZA) AkzoNobel Acquires Majority Ownership Of Japanese Joint Venture

Akzo Nobel NV (AMS:AKZA) AkzoNobel has agreed to acquire a 75/25 majority interest in its Kayaku Akzo Co. Ltd (KAC) joint venture with Nippon Kayaku.

KAC has been a 50/50 joint venture between the two companies for nearly 40 years. A leading supplier of organic peroxides to Japan, the business has sales offices in Tokyo and Osaka, Japan, as well as a manufacturing and research and development facility in Asa.

"This opportunity allows AkzoNobel to gain access to the Japanese market and take on the leadership in the longstanding cooperation," said Rob Frohn, Board member responsible for AkzoNobel Specialty Chemicals.

Added AkzoNobel Polymer Chemicals General Manager Alan Kwek: "We respect the success KAC and its employees have had to date and we look forward to our continued partnership with Nippon Kayaku."

The general management of the new organization will effectively remain unchanged and will be governed by an oversight committee of a Board of Directors representing both AkzoNobel and Nippon Kayaku, who will retain a minority ownership interest.

- - -

Note to editors 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(TM).

Not for publication - for more information Akzo Nobel nv Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7856 Contact: Oskar Bosson Contact: Huib Wurfbain, Ivar Smits

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/130660/R/1277921/284974.pdf

Akzo Nobel NV

http://www.akzonobel.com

ISIN: NL0000009132

Stock Identifier: AEX.AKZA

US: NASDAQ:AKZOY