Exchange rates

The following table sets forth, for the years indicated, certain information concerning the exchange rate of the U.S. dollar relative to the euro, expressed in U.S. dollar per euro based on the rate in New York City for cable transfers in foreign currencies as certified for customs purposes by the Federal Reserve Bank of New York (the "noon buying rate"). The rates used in the preparation of Ahold's consolidated financial statements may vary in certain minor respects from the noon buying rate.

Year	Period end	Average	High	Low
2002	1.0438	0.9441	1.0438	0.8594
2003	1.2429	1.1299	1.2597	1.0361
2004	1.3538	1.2487	1.3625	1.1801
2005	1.1842	1.2449	1.3476	1.1667
2006	1.3197	1.2563	1.3327	1.1860

The following table sets forth the high and low noon buying rates of the U.S. dollar against the euro for each of the last six months. The noon buying rate of the U.S. dollar against the euro as of March 1, 2007 was USD 1.3173 = EUR 1.

	High	Low
September 2006	1.2833	1.2648
October 2006	1.2773	1.2502
November 2006	1.3261	1.2705
December 2006	1.3327	1.3073
January 2007	1.3286	1.2904
February 2007	1.3246	1.2933

Fluctuations in the exchange rates between the U.S. dollar and the euro have affected the U.S. dollar equivalent of the euro prices of Ahold's common shares on the Official Segment of Euronext Amsterdam N.V.'s stock market ("Euronext Amsterdam" or "Euronext") and, as a result, are likely to have affected the market price of the Company's American Depositary Shares ("ADSs"), evidenced by American Depositary Receipts ("ADRs"), listed on the New York Stock Exchange (the "NYSE"). Such fluctuations will also affect the U.S. dollar amounts received by holders of Ahold's ADSs on conversion by The Bank of New York, as depositary (the "Depositary"), of cash dividends, if any, paid in euros on the common shares represented by the ADSs.