NEW YORK, June 15 /PRNewswire/ -- Ralph Lauren Home, a division of Polo Ralph Lauren (NYSE: RL) announced today that it has signed an exclusive license agreement with ICI Paints' (NYSE: ICI) Glidden Company. This agreement becomes effective January 1, 2001. Sherwin Williams will continue to distribute Ralph Lauren Paint until that time.

Under the new agreement, Glidden will be responsible for the sales, distribution and manufacturing of Ralph Lauren Paint while Ralph Lauren Home will be responsible for the design and marketing.

Ken Rood, President of Ralph Lauren Home, said ``The success of Ralph Lauren Paint has been driven by a unique and revolutionary approach to product innovation, color and lifestyle marketing. Ralph Lauren is excited to find a partner that shares this same vision in order to achieve global growth in both the consumer and professional markets.''

Denis Wright, ICI Paints Executive Chairman, Decorative Paints, Americas said, ``We are pleased Ralph Lauren selected us to supply their innovative paint based on our high quality track record and excellent industry reputation. We are the only truly global decorative paints manufacturer and are a leading player in both the consumer and professional paint markets.''

Ralph Lauren Paint, introduced in 1996, offers fine interior latex paint presented in coordinated lifestyle groups and exciting textural applications. Ralph Lauren Paint is available at The Home Depot and select independent paint stores in the United States and Canada.

Since its inception in 1983, Ralph Lauren Home has revolutionized the home furnishings industry with the introduction of lifestyle concepts for the home. The collection includes fashion bedding product, fashion bath product, furniture, fabrics and wall coverings, tabletop, lighting, decorative accessories, decorative hardware, paint, and broadloom and area rugs all possessing the distinct style and quality which Ralph Lauren has come to represent.

Polo Ralph Lauren Corporation is a leader in the design, marketing and distribution of premium lifestyle products in four categories: Apparel, Home, Accessories and Fragrances. For more than 30 years, Polo's reputation and distinctive image have been consistently developed across an expanding number of products, brands and international markets. The Company's brand names, which include, ``Polo by Ralph Lauren'', ``Polo Sport by Ralph Lauren'', ``Ralph Lauren Collection'', ``Ralph Lauren Purple Label'', ``RALPH by Ralph Lauren'', ``Lauren by Ralph Lauren'', ``Polo Jeans Co. Ralph Lauren'', and ``Chaps Ralph Lauren'', among others, constitute one of the world's most widely recognized families of consumer brands.

Part of The ICI Group, ICI Paints is one of the world's leading coatings manufacturers with 60 manufacturing sites in 25 countries and more than 19,000 employees worldwide. In 1999, ICI Paints worldwide sales were approximately $3.5 billion, and paint sales exceeded one quarter of a billion gallons. In North America, ICI Paints produces decorative coatings such as Glidden, ICI Dulux, Devoe, Fuller-O'Brien, Sinclair, C-I-L and Liquid Nails caulks and adhesives. Products are sold through more than 700 Company stores, national/retail outlets and independent dealers in the United States, Canada and Puerto Rico. For more information, visit http://www.icipaints.com .

SOURCE: ICI Paints