Re Joint Venture

Unilever PLC
18 February 2003

                     UNILEVER TO ACQUIRE OUTSTANDING SHARES

                          IN ASIAN FOODS JOINT VENTURE

Unilever is further strengthening its foods operations across the fast growing
Asia market with an agreement to acquire the outstanding shares in CPC/Aji Asia,
a 50-50 joint venture with activities in six countries, from Ajinomoto Co. Inc.,
Japan.

The acquisition will be in two parts with approximately one half of Ajinomoto's
holding being transferred on March 25 2003 and the balance scheduled for
transfer in March next year. Unilever will pay US$381 million for Ajinomoto's
equity holding, valuing the total equity at US$762 million (US$795 mln
ungeared).

Unilever will have full management control of the entire business from March 25
2003 and 100% of the sales and operating profit will be consolidated from that
time. The deal is subject to approval by regulatory authorities.

CPC/Aji began as a joint venture between Bestfoods and Ajinomoto in 1987, with
Bestfoods' share transferring to Unilever on its acquisition of Bestfoods in
2000. It has six factories in five countries - Hong Kong, Thailand, Malaysia,
Philippines (2) and Taiwan, as well as a sales/marketing office in Singapore. It
employs almost 1900 people.

CPC/Aji's leading brands, which accounted for more than 80 per cent of its total
2002 sales of some US$330 million, include the internationally known Hellmann's
mayonnaise, Knorr soups and bouillon, and Skippy peanut butter. Local brands
include Lady's Choice dressings, and Royal pasta.

Unilever Foods director Patrick Cescau, said: 'This is a strategically important
acquisition for Unilever as it further strengthens the presence of our leading
brands in a high growth regional market of more than 190 million consumers.

'The full integration of the acquired business into our Unilever Bestfoods Asia
operations will give it total access to our innovation capabilities and
distribution network strength, and will provide the fuel for higher investment
behind our brands.'

                                     ooooo

Additional Financial Information on CPC/Ajinomoto

Average underlying sales growth of 7.5% per annum over the past four years.

Operating margin beia sustained well above the Unilever average over the past
four years.

Transaction multiples based on 2002 actuals:

                      Sales:                2.4 times

                      EBIT:                 11.4 times

                      EBITDA:               10.8 times

The deal is accretive to Unilever net profit beia in the first year.

Around 70% of sales are in Savoury and Dressings, with the balance in Spreads
and Cooking products.

                                     -o0o-

February 18, 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange