AkzoNobel has today confirmed that a fine of up to €40.6 million has been imposed by the European Commission following an investigation into price-fixing involving the company's former Tin Stabilizers (1987-2000) and Esbo/Esters (1991-2000) businesses. These businesses were divested in 2007.

The company has cooperated fully with the European Commission throughout the investigation and will now analyze the merits of the decision. The statutory period within which an appeal before the Court of First Instance can be lodged is two months.

Given the company's pending review of the decision, AkzoNobel is currently unable to provide any certainty or guidance relating to the timing of ultimate payment and the final amount.

The company stresses that it has a strict zero tolerance policy throughout AkzoNobel for any anti-competitive behavior. Its compliance program is constantly updated to minimize the risks of non-compliance with our high ethical standards.

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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 - 2008 revenue totaled €15.4 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 58,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).