MINNEAPOLIS, May 10, 2004 - ICI Paints, an international leader in the manufacture, distribution and marketing of world-class paint brands, has chosen Martin|Williams Advertising for its forthcoming line of This Old House paints.

The assignment includes creative, media and public relations. Budgets were not disclosed.

"ICI Paints is a worldwide leader and the launch of the This Old House line of paints is an exciting opportunity to leverage a powerful, existing brand in a new category," said Steve Collins, president and CEO, Martin|Williams, Inc.

"The Martin|Williams integrated work showed a real understanding of the power of the This Old House brand and the possibilities it offers ICI Paints in both the residential and commercial painting sectors," said Cathy Fischer, Chief Marketing Officer for ICI Paints. "In addition, the agency's outstanding work with other leading retailers gives us the confidence to place branding activities for this important new paint line in their hands."

This Old House Ventures, Inc chose ICI Paints to produce a new line of paints under the This Old House name in January 2004.

Karwoski & Courage Public Relations, a business unit of Martin|Williams Inc., will be responsible for the public relations efforts supporting the introduction of this new paint line.

About Martin|Williams
Martin|Williams Advertising is part of Martin|Williams, Inc., a Minneapolis-based full-service communications agency that is part of Omnicom Group Inc.. Operating units of Martin|Williams, Inc. include Martin|Williams Advertising; Creo International (international and cross-cultural communications); Karwoski & Courage Public Relations; and TEQUILA\ Minneapolis (direct, interactive, promotion and design).

About ICI Paints
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 Cleveland, 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 and exported internationally. For more information, visit www.icipaints.com/NA.

About This Old House Ventures

Celebrating quality craftsmanship with homeowners and craftsmen of all skill levels, This Old House Ventures, Inc. is marking the 25th anniversary of television's first and foremost trusted home improvement brand with a year-long multi-media program integrating award-winning television, publishing, Internet, and special events spanning 2004 and early 2005.

The 25^th anniversary is centered around three major events: The "Meet This Old House Tour," which will bring the This Old House brand to cities across America; the This Old House Carlisle project, a restoration and renovation marrying the latest in home technology with old-world craftsmanship; and the creation of a first-ever national scholarship fund to encourage young people to enter the building-arts trades.

This Old House is a multi-media lifestyle brand that inspires and informs 52 million adults every month about home improvement and renovation. It is the No. 1 media home enthusiast brand, offering homeowners trusted information and expert advice.

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).

Contacts:

Steve Rudolph
Karwoski & Courage
612.342.4321
s.rudolph@creativepr.com

Glenn Karwoski
Karwoski & Courage
612.342.9649
g.karwoski@creativepr.com