Imperial Chemical Industries PLC

As Agent Bank, please be advised of the following rate determined on: 28-Jan-2004

Issue               : Imperial Chemical Industries plc - Series 46
                      US$ 30,000,000 (MTN) FRN due 31 Oct 2010
ISIN Number         : XS0119611423
Issue Nomin     USD : 30,000,000.00
Period              : 30-Jan-2004 to 30-Apr-2004          Payment Date 30-Apr-2004 
Number of Days      : 90
Rate                : 2.02
Denomination    US  : 10,000.00     

Amount Payable 
per Denomination    : 50.50        

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438