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ICI TO SEPARATE BIOSCIENCE ORGANIZATION FROM JAN. 1, 1993; ZENECA -- A NEW NAME FOR ICI BIOSCIENCE

 LONDON, Nov. 18 ~PRNewswire~ -- The following was issued from L ondon this morning.
 In North America, including the United States, Canada and Mexico, ICI Associated Companies employ about 26,000 people and have annual sales of more than $6 billion.
 ICI TO SEPARATE BIOSCIENCE ORGANIZATION FROM JAN. 1, 1993
 The chairman of ICI, Sir Denys Henderson, announced today that the company would be divided into two separate operating units, each with its own executive and management teams from Jan. 1, 1993. The division reflects the hiving off of the company's bioscience interests into a new wholly owned subsidiary which will be called ZENECA Ltd.
 This follows the announcement by the ICI Board last July that it was considering proposals for demerging its bioscience businesses. The action taken will put the board into a position to make a decision on the demerger proposals after publication of the ICI Annual Results in February 1993.
 Since July, teams of experts have been working with managers in the company to separate companies within the group and to put in place new structures in most of the 140 territories in which the company operates.
 Announcing the moves, Denys said that it had become clear that for practical and legal reasons some of the bioscience businesses would have to trade under a different name from Jan. 1, 1993. It had been decided to choose a new name without delay to avoid the cost of having to make two changes as it would not have been possible to continue indefinitely with the name "ICI Bioscience."
 Denys said that significant business responsibilities would be delegated to a new ICI Executive and the board of ZENECA Ltd. However, both would answer to the ICI Executive Committee and the board of ICI would retain its ultimate responsibility for all the group's activities.
 The new ICI Executive will be led by Ronnie Hampel, as chief executive officer. It will comprise Colin Short, ICI finance director, together with two other directors, Chris Hampson and Rob Margetts. Victor White will continue as the group solicitor and secretary; Alan Spall as general manger of Finance; and Trevor Harrison as general manager, Planning.
 The ZENECA board headed by David Barnes will comprise Peter Doyle and Tony Rodgers, both of whom are executive directors of ICI, together with John Mayo, whose appointment as finance director of ZENECA has already been announced. Graeme Musker will be the secretary and solicitor; Norman Lyle, general manager of Finance; and Hugh Donaldson, general manager of Corporate Resources.
 Should it be decided to go ahead with demerger, ZENECA would become a public company. A further announcement would then be made at that time about the appointment of the members of the ZENECA Board, including non-executive directors.
 Denys said, "Today's announcements are the result of a huge amount of complex and difficult work by our expert staff. It demonstrates our determination to run our operations even more effectively and makes it possible for us to take a realistic decision about demerger in due course."
 ZENECA -- A NEW NAME FOR ICI BIOSCIENCE
 ICI announced today that its bioscience interests will trade under a new name -- ZENECA Ltd. -- from Jan. 1, 1993. This follows the announcement last July that ICI was considering proposals for demerging its bioscience interests. Announcing the decision today, David Barnes, who will become chief executive of ZENECA from Jan. 1, said, "This is a signal of our intent to create a separate entity with its own focus and competing on its own merits. For our customers it will be an umbrella for the products and brands and it will mark our determination to develop our own cultural values and reputation."
 He said the new name was developed from the word "zenith." It reflected the company's intentions to feature amongst the front rank of science-based companies in its chosen business sectors. The styling of the capital Z is derived from the ancient notational device employed by alchemists which means "to solve." This reflects the new company's basic activity of finding solutions to problems. The new name will be printed in the color Pantone 315, which is itself derived from work carried out by ICI's Dyestuffs Division in the 1920s and 30s. This is now part of the Specialties business which will be transferred to ZENECA.
 Barnes explained that some of the bioscience companies would have been compelled, for commercial and legal reasons, to have changed their name in any case from Jan. 1, 1993.
 "We have until now called the new company ICI Bioscience. That was for the very practical reason that we needed to have a name at the time of the July announcement that we were studying the possibility of a demerger. Following any demerger, it would not have been practicable for two companies to trade under the name ICI in the long term and the name Bioscience alone could not have been registered for legal and trademark reasons.
 "Therefore, instead of switching to a name which we knew would have to be changed, we decided to move now. If we were going to have to move away from ICI Bioscience, the sooner we started to engender goodwill in the new name the better."
 Setting out his vision for the new company Barnes said it would have sales of approximately 4 billion pounds sterling a year. It would be a major force in the bioscience industry.
 "The company's aim will be global market leadership positions in its chosen business sectors. Its activities will be based on the innovative and responsible use of organic chemistry and biological sciences. The technology base will be shared across these business sectors. The company will be both R&D intensive and marketing intensive. It will aim to provide quality products and service which meet customer needs. Its products will touch many aspects of people's individual lifestyles, from medicines through to the use of dyes and colors in clothing and home furnishings. It will contribute to the provision of high quality foodstuffs through assistance to the agricultural community. It will be our aim to be bold and innovative in our actions and we shall promote and seek to practice high standards of ethics. We will operate safely and in harmony with the environment and thereby earn the respect of the communities in which we operate.
 "We shall seek to build on the very best of the ICI heritage whilst simultaneously developing a clear, strong and discrete global identity. As we succeed in fulfilling these ambitions, then we will deliver a performance which will be attractive to shareholders."
 The new company will comprise ICI's existing pharmaceuticals, agrochemicals, seeds and specialties businesses.
 ~delval~
 -0- 11~18~92
 ~CONTACT: Pat Preston of ICI Americas Inc., 302-886-8601~
 (ICI)


CO: ICI Associated Companies; ZENECA Ltd. ST: IN: CHM SU:

CC -- PH002 -- 2173 11~18~92 08:35 EST
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