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ICI BOARD TO RECOMMEND ZENECA DEMERGER TO BE READ WITH 1992 RESULTS RELEASE

 LONDON, Feb. 25 /PRNewswire/ -- The board of Imperial Chemical Industries PLC (NYSE: ICI) announced that it intends, in the absence of unforeseen circumstances, to recommend to shareholders the demerger of its bioscience businesses to create a new publicly listed company, ZENECA Group PLC (ZENECA) under proposals which would include a rights issue of approximately 1.3 billion pounds sterling by ZENECA.
 It is expected that the demerger proposals will be put to shareholders for the required approval at an extraordinary general meeting to be held in late May.
 Key features of the proposals are:
 -- Shareholders in ICI will receive one fully-paid ZENECA share
 for each ICI share held as at the date of the EGM.
 -- ZENECA will raise approximately 1.3 billion pounds by means of an
 underwritten rights issue, the net proceeds to be used by
 ZENECA to reduce its indebtedness to ICI.
 -- The demerger and the issue of ZENECA shares will occur in
 June.
 -- Sir Denys Henderson will be Chairman of both ICI and ZENECA.
 -- After demerger, Mr. Ronnie Hampel will be chief executive and
 deputy chairman of ICI. The other executive directors will
 be: Mr. Chris Hampson, Mr. Rob Margetts and Mr. Colin Short.
 The non-executive directors will be: Sir Antony Pilkington,
 Miss Ellen Schneider-Lenn and Mr. Paul Volcker.
 -- Mr. David Barnes will be chief executive of ZENECA. The other
 executive directors of ZENECA will be: Dr. Peter Doyle,
 Mr. John Mayo, Mr. Alan Pink and Mr. Tony Rodgers.
 The non-executive directors will be: Lord Chilver,
 Sir Richard Greenbury, Miss Gill Lewis, Sir Jeremy Morse and
 Mr. Tom Wyman.
 ZENECA Demerger and Rights Issue
 -0- 2/25/93
 /CONTACT: Pat Preston (media), 302-886-8601, or Edward C. Seage (investor relations), 212-644-9274, both for ICI/
 (ICI)


CO: Imperial Chemical Industries PLC ST: Delaware IN: CHM SU:

PS -- NY041 -- 0355 02/25/93 11:31 EST
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Date:Feb 25, 1993
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