Pension Fund

Unilever PLC
Unilver NV
26 May 2000

 
UNILEVER'S NETHERLANDS PENSION FUND 
 
Rotterdam, 26 May.- Progress, the Unilever pension fund in the Netherlands,
announced today that it will be paying back an annual amount of euro 442
million (Fl. 975 million) to Unilever Nederland in both 2000 and 2001. This
follows the regular review process of the pension fund, which showed that the
cash repayments made in 1998 and 1999 (annual amounts of euro 159 million, Fl
350 million) did not lead to the sought-after reduction in the surplus value
of the fund.
 
Since completion of the 1999 review the relevant parties have been consulted
and have agreed to the repayments for 2000 and 2001.
 
This transaction represents the further return of cash and has no material
impact on the profit and loss account, where under the relevant accounting
standards pension surpluses are amortised over a period of 10 years.