Unilever sale of Frozen Food

Unilever PLC
28 August 2006

                   UNILEVER SIGNS AGREEMENT TO SELL EUROPEAN
                              FROZEN FOOD BUSINESS

Unilever today announced that it had reached an agreement to sell the majority
of its European Frozen Foods business to the Permira Funds for €1.725bn. The
deal, which is subject to regulatory approval and a consultative process with
the relevant employee works councils, is expected to be completed before the end
of the year.

The Unilever businesses being sold in this transaction include the Frozen Foods
operations in Austria, Belgium, France, Germany, Ireland, Netherlands, Portugal
and United Kingdom. The decision to sell the businesses followed a thorough
study into the strategic options for the future of the Frozen Foods business.

Patrick Cescau, Group Chief Executive, said: 'The Frozen Foods business has been
great for Unilever over many decades with tremendous products, iconic brands and
memorable advertising delivering value for our shareholders. Having taken the
decision to focus our portfolio on other priorities, I am confident that the
business will prosper under the dedicated and focused management that the
Permira Funds will bring.'

Cheryl Potter, Partner at Permira, commented, 'We are delighted the Permira
Funds are acquiring such iconic brands and look forward to supporting their
growth going forward. The market sees few food deals of this size and very
rarely involving brands of this stature. '



Further information:

  • Turnover in 2005 was €1,237m and EBITDA of €174m on an on-going,
    fully-allocated cost basis
  • The transaction represents multiples of 1.4 X annual sales and 9.9 X
    EBITDA
  • The sale is expected to result in a one-off profit, after tax, in excess
    of €1bn
  • As part of normal consultation processes there will be discussions with
    the relevant employee works councils and Trade Unions
  • Unilever remains firmly committed to sustainability programmes and
    activities in all areas of its business, and will work with the Permira
    Funds to transfer knowledge and best practice in this area.
  • The sale includes the total frozen food portfolio under the Iglo and
    Bird's Eye brands in the following countries: Austria, Belgium, France,
    Germany Greece, Ireland, Netherlands, Portugal and United Kingdom
  • Unilever will retain its Frozen Food business under the brand name Findus
    in Italy
  • The sale of our Portuguese business is subject to the agreement of the JV
    partner in Portugal
  • The Frozen Food business in Spain is not included in the sale having
    previously been sold to Bonduelle two months ago
  • Ice cream is not included in the sale
  • Bertolli/Knorr Frozen in North America is not included in the sale



Global

Tim Johns

Vice-President, Global Media Relations          [phone]

Europe

Tanno Massar

Director, European Media Relations          [phone]

UK

Helen Lo

Head of Communications               [phone]



August 28, 2006



About Unilever

Unilever's mission is to add vitality to life. We meet everyday needs for
nutrition, hygiene and personal care with brands that help people feel good,
look good and get more out of life.

Unilever is one of the world's leading suppliers of fast moving consumer goods
with strong local roots in more than 100 countries across the globe. Its
portfolio includes some of the world's best known and most loved brands
including twelve €1 billion brands and global leadership in many categories in
which the company operates. The portfolio features brand icons such as Knorr,
Hellmann's, Flora, Bertolli, Dove, Lux, Pond's, Lynx, Persil, Domestos, and
Marmite.

Unilever has around 206,000 employees in approaching 100 countries and generated
annual sales of €40 billion in 2005. For more information about Unilever and its
brands, please visit www.unilever.com.

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