Teaneck, NJ, January 25, 2013 - Nippon Paint Co., Ltd. (NPC), parent company of Nippon Paint (USA) Inc. (NP-USA), reported on Monday that it had received a tender offer from Wulthelam Holdings Pte.Ltd. of Singapore to boost its stake in NPC from approximately 14.5% to 45%. Wulthelam is currently NPC’s top shareholder.

NPC has stated that it will deliberate on the matter and make a final decision after further discussion by its board. Additional information will be provided to its shareholders, employees and customers as it develops.

Hidefumi Morita, President of NP-USA and CEO of U.S. subsidiaries NB Coatings, Inc. and NPA Coatings Inc. said, “We want to assure our employees and our valued customers and suppliers that we expect to continue business as usual without any adverse impact to our North America operations. Wuthelam has been a trusted partner of Nippon Paint for over 50 years working together with tremendous success throughout the Asian market. The recent action taken by Wuthelam will be viewed as a very positive development for many in the Nippon Paint family. The companies established by NPC and Wuthelam under their joint venture Nipsea Management Company (NMC) spread across 12 countries and employ 15,000 employees. As NPC reviews Wuthelam’s offer and new information comes to light, we will provide additional updates as relevant to our North American operations.”

About NP-USA:

Nippon Paint (USA) Inc. (NP-USA™) was established in 1990 as a wholly owned subsidiary of Nippon Paint Co., Ltd. of Osaka, Japan to function as both a holding company for U.S. operations and a distributor for its affiliates. NP-USA’s mission is to enhance Nippon Paint’s position in the U.S. market by facilitating the successful achievement of the goals of the NP-USA Group.

About Nippon Paint Co., Ltd.

Nippon Paint Co., Ltd., headquartered in Osaka, Japan was established in 1881 and today is a leader in the global paint and coatings industry. Its managing principle is to contribute to the welfare of society as a whole through its business activities, working together for the mutual harmony and benefit of everyone.

It is Nippon Paint's vision to expand globally as a specialty chemical company, offering high value-added coatings. Additionally, it is their fundamental commitment to become a trusted, eco-friendly company that helps protect the environment.

About Wuthelam Holdings Pte. Ltd.

Headquartered in Singapore, Wuthelam Holdings Pte Ltd is a corporate group whose main business is to manufacture and sell paints and coatings. Since the 1960s, Wuthelam Holdings Pte Ltd has been a joint venture partner with Nippon Paint for coatings business in Asian countries.

About Nipsea Management Company

Nippon Paint South East Asia (NIPSEA) Management Company was formed in 1962 in Singapore as a joint venture between Nippon Paint Co., Ltd. and Wuthelam Holdings Pte Ltd. Since then, it has grown into a major Asian player with over 15,000 employees and 30 manufacturing facilities in 12 countries. The company produces close to 1 billion litres of paints and coatings annually.