Las Vegas, Nevada, January 19, 2004 - This Old House Ventures, Inc., which offers 52 million homeowners trusted information and expert advice through award-winning television programming, a highly regarded magazine, and an information-driven Web site, has chosen ICI Paints, a worldwide leader in marketing and manufacturing respected paint and coating brands, to produce a new line of paints under the This Old House name.

"We are delighted to be partnering with ICI Paints, a leader in paints," said Eric Thorkilsen, President, This Old House Ventures, Inc. "Paint is the first category we are announcing as part of This Old House's licensing program that will bring the brand to life through a line of high quality products reflecting the expertise and experience of America's foremost craftsmen."

Financial terms were not disclosed. Distribution and availability of this new paint line have not yet been finalized, but announcements are expected in the near future.

"This Old House is the premier home-improvement brand, consistently representing quality craftsmanship and giving consumers the confidence to create homes that are reflections of themselves," said Cathy Fischer, Chief Marketing Officer for ICI Paints. "It is a natural fit for ICI Paints to produce a completely new paint line under the This Old House brand name because ICI Paints has a reputation for producing high-quality and long-lasting performance paints. We are very excited to be working with such a strong brand name."

Brandgenuity is the licensing agency of record for This Old House Ventures, Inc. and is working closely with Time Inc. Brand Licensing to extend the brand into other categories, including tools, lawn and garden and building materials.

ICI Paints is part of the ICI Group (NYSE: ICI), one of the world's largest producers of specialty products and paints. ICI Paints worldwide has 49 manufacturing sites in 25 countries and more than 15,000 employees. Headquartered in Strongsville, Ohio, ICI Paints' North American operations produce decorative coatings brands such as Glidden, Dulux, Ralph Lauren, Devoe, Fuller-O'Brien, Sinclair, C-I-L paint, Color Your World and Liquid Nails caulks and adhesives. Products are sold through company stores, national/retail outlets and independent dealers in the United States, Canada and Puerto Rico. For more information, visit www.icipaints.com/NA

This Old House Ventures, Inc. is an affiliate of Time4® Media and a subsidiary of Time Inc., which is a wholly-owned subsidiary of Time Warner Inc. (NYSE: TWX)

Media contacts:

Matt Barkett
Communications Director, ICI Paints
440/297-8368 (office)
216/780-7800 (cellular)

Frederika Brookfield
Communications Director, This Old House
212/522-5809 (office)
917/209-4415 (cellular)