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Unilever N.V. Agrees Terms With Aegon For The Re-Purchase of Preference Shares

Rotterdam - Unilever today announced that it has agreed terms with AEGON for the re-purchase of all their 6% and 7% cumulative preference shares in Unilever N.V. in a transaction valued at €28.5m. This follows the cancellation of the 4% cumulative preference shares in 2010.

This agreement promotes good corporate governance by strengthening the link between economic interest and voting rights for Unilever N.V. shareholders and by moving Unilever N.V. closer to the principle of one share, one vote. 

It is now Unilever’s intention, subject to the approval of Unilever N.V. shareholders, to launch a public offer to allow all holders of the cumulative 6% and 7% preference shares to access the same terms as have been agreed with AEGON.

The offer will be to repurchase the 6% cumulative preference shares at a price of €806 per share, and the 7% cumulative preference shares at a price of €940 per share. If all the cumulative preference shares outstanding were to be tendered the maximum cash outlay would be €157m. Unilever N.V. will also pay the accrued dividend.

These proposals do not relate to Unilever PLC, and remain subject to approval by Unilever N.V. shareholders at an extraordinary general meeting. The date, venue and agenda for this meeting will be announced in due course.

Unilever NV

Weena 455
3013AL Rotterdam

www.unilever.nl

+31 (0) 10 217 4000
mediarelations.rotterdam@Unilever.com

Safe harbour statement

This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘expects’, ‘anticipates’, ‘intends’, ‘believes’ or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, economic slowdown, industry consolidation, access to credit markets, recruitment levels, reputational risks, commodity prices, continued availability of raw materials, prioritisation of projects, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, consumer demands, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, the ability to complete planned restructuring activities, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the Group’s Annual Report on Form 20-F for the year ended 31 December 2010. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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