Disposal

Unilever PLC 17 August 2001 Release: Immediate UNILEVER SELLS NORTH AMERICAN SEAFOOD BUSINESS TO NIPPON SUISAN (USA), INC FOR US$175 MILLION Unilever today announced it has signed a definitive agreement to sell its North American seafood businesses to Nippon Suisan (USA), Inc, a subsidiary of Nippon Suisan Kaisha Limited for US$175 million in cash. The deal comprises the Gorton's business in the United States and the BlueWater Seafoods business in Canada. The transaction, subject to customary conditions including regulatory approvals, is anticipated to be completed in the second half 2001. Gorton's is the leading retail frozen seafood brand in the U.S., while BlueWater Seafoods is the second largest brand in Canada. In addition, Gorton's supplies frozen seafood to the foodservice industry in the U.S. Together the businesses had 2000 net sales of US$250 million and EBITDA of US$20 million. The decision to sell Gorton's and BlueWater is part of Unilever's Path to Growth strategy that focuses on a number of leading brands in defined core categories of Foods and Home and Personal Care. Patrick Cescau, Unilever's Foods Director said: 'The sale of Gorton's and BlueWater is consistent with our focus on brands that are core to Unilever such as Knorr, Lipton and Dove. Although both businesses are robust we feel there is little scope for Unilever to grow the brands outside of North America where we already have well-established brands in this category.' Included in the sale is Gorton's head office in Gloucester, Massachusetts and three production sites in Gloucester MA, Cleveland OH and Montreal, Canada. The businesses currently employ about 750 people. -o0o- August 17 2001

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Unilever (ULVR)
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