Disposal

Unilever PLC 7 May 2002 Release: Immediate UNILEVER COMPLETES SALE OF DIVERSEYLEVER BUSINESS TO JOHNSON WAX PROFESSIONAL Unilever today announced the completion of the sale of its DiverseyLever institutional and industrial cleaning business to Johnson Wax Professional. The transaction is valued at €1,725 million. Unilever has received €1,128 million in cash. The balance is made up of a loan note and a one-third equity stake in the combined business, in line with the terms of the Agreement announced on November 20 2001. The transaction value represents a multiple of 1.1 times 2001 sales and a multiple of 8.4 times 2001 EBITDA. Under the terms of the Agreement, Johnson Wax Professional has management control of the combined business which will be called JohnsonDiversey. The Agreement provides for Unilever's exit from the combined business after five years. The sale of DiverseyLever is fully in line with Unilever's Path to Growth strategy which targets sustained sales growth of 5-6% per annum and an improvement in operating margin beia to over 16% by 2004. A cornerstone of this strategy is a greater focus of resource on leading brands. -o0o- May 6 2002 This information is provided by RNS The company news service from the London Stock Exchange

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Unilever (ULVR)
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