Akzo Nobel agrees to divest Australian solar salt activities

Arnhem, the Netherlands, June 2, 2006 — Akzo Nobel has agreed to sell its 94.2% stake in Salt Asia Holdings Pty Ltd. to Japan-based Mitsui & Co. Ltd. for around AUD 130 million (EUR 80 million), a deal which includes the transfer of Onslow Salt Pty Ltd, the company’s solar salt business in Australia. The divestment of Akzo Nobel’s share in the holding company—which is the majority owner of the Australian solar salt activities—means that Mitsui will become the majority shareholder in Onslow Salt, which has a production facility in Onslow (WA) and a small office in Perth. “This agreement brings us one step closer to completing the series of divestments resulting from last year’s strategic realignment of our Chemicals portfolio,” said Leif Darner, member of Akzo Nobel’s Board of Management responsible for Chemicals. “Mitsui is a global company active in more than 70 countries and is well positioned to take the business forward into the future.” Onslow Salt’s gross 2005 turnover totaled around AUD 70 million, with the Onslow site itself—which has 70 employees—capable of producing 2.25 million tons of salt each year at its state-of-the-art facilities. Closure of the deal, which is subject to the required regulatory approvals and the terms of the shareholders’ agreement, is expected during the third quarter of 2006. The Mitsui deal is the fifth Chemicals divestment announced by Akzo Nobel in 2006, with the remaining transactions expected to be finalized during the course of the year. --- Not for publication – for more information Akzo Nobel nv Corporate Media Relations, tel. +31 26 366 43 43 Contact: Heleen van de Lustgraaf Note for the editor Akzo Nobel is a Global Fortune 500 company and is listed on both the Euronext Amsterdam and NASDAQ stock exchanges. It is also included on the Dow Jones Sustainability Indexes and FTSE4Good Index. Based in the Netherlands, we are a multicultural organization serving customers throughout the world with human and animal healthcare products, coatings, and chemicals. We employ around 61,500 people and conduct our activities in four segments − human and animal health, coatings and chemicals − subdivided into 13 business units, with operating subsidiaries in more than 80 countries. Consolidated revenues for 2005 totaled EUR 13.0 billion. The financial results for the second quarter will be published on July 20, 2006. Internet: www.akzonobel.com Safe Harbor Statement* This press release may contain statements which address such key issues as Akzo Nobel’s growth strategy, future financial results, market positions, product development, pharmaceutical 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, progress of drug development, clinical testing and regulatory approval, 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 Annual Report on Form 20-F filed with the United States Securities and Exchange Commission, a copy of which can be found on the company’s corporate website www.akzonobel.com. The 2005 Annual Report on Form 20-F will be available at the end of the second quarter of 2006. * Pursuant to the U.S. Private Securities Litigation Reform Act 1995.