Imperial Chemical Industries (ICI)

This report is the Annual Report and Accounts of the Company for the year ended 31 December 2004. It comprises the Annual Report and Accounts of the Company in accordance with United Kingdom requirements, certain portions of which will be included in the Annual Report on Form 20-F that will be filed with the United States Securities and Exchange Commission. Unless specifically otherwise indicated, this report has been prepared as at 17 February 2004, the date on which the Directors presented their Annual Report and Accounts and on which the independent auditors issued their opinion in compliance with UK requirements.

When the Annual Report on Form 20-F for the year ended 31 December 2004 is filed with the SEC, certain information contained in this report may be updated or supplemented.

A summary report for the year, the Annual Review 2004, is produced as a separate document and is issued to shareholders unless they have elected to receive the full Annual Report and Accounts. The Annual Review includes a statement from the Chairman and Chief Executive, a summary review of activities, Summary Remuneration Report and Summary Financial Statement.

Words within single quotation marks, the letters ICI, the Roundel Device, The Vital Ingredient, Dulux, Cuprinol, Glidden, Hammerite, National Starch, Quest, Uniqema, Alco, Ablestik, Acheson, Emerson & Cuming, Purbond, Tra-con, Elotex, Vinamul, Polycell, Polyfilla, Devoe, Valentine, Coral, Alba, Xyladecor, Alabastine and Cuprinol Rollable are all trademarks of the ICI Group of companies.

Beyond Paradise Men, Truestar, Curious, Echo Women are non-ICI trademarks.