India Tea Gardens to be Acquired

Unilever PLC
Unilever NV
23 December 1999


                                
              UNILEVER TO ACQUIRE INDIA TEA GARDENS
                                                                
Unilever has agreed to acquired a majority share of 65 percent in
the Indian tea business Rossell Industries Limited and will,
together with its Indian subsidiary Hindustan Lever Limited, make
a public offer in India for the remaining outstanding shares. The
total consideration of the deal will be some £25 million.

The 65 percent of shares were purchased from Jokai Tea Holdings
Limited, UK, and private shareholders in India for a price of Rs
173 per share.  Unilever is applying to the Foreign Investment
Promotion Board to acquire up to 74 per cent of Rossell equity.
The other shareholders will be offered the same price and any
shares tendered in excess of the 74 per cent will be acquired by
Hindustan Lever, subject to regulatory approval.

Rossell has seven tea gardens in Assam with planted area of 3171
hectares and its output in 1998 totalled 7062 tonnes of tea.
About 20 per cent of the tea output is currently exported. Both
Unilever and HLL have substantial interests in the tea business,
including tea plantations. This acquisition will help secure
supplies for tea blending for primarily the Indian market.

The transaction is subject to approval by the relevant
authorities.