Ahold 1998 Net Earnings Surge 29% to NLG 1.2 Billion.

ZAANDAM, The Netherlands--(BUSINESS WIRE)--March 9, 1999--

Highlights

-- Net earnings rise strongly by 29% to NLG 1.2 billion

-- Earnings per common share increase 19% to NLG 2.06

-- Operating results rise 22% to NLG 2.2 billion

-- 1998 dividend proposal: NLG 0.86 (1997: NLG 0.72) per common

share

-- 1999 outlook: 15-20% higher earnings per share

1998 Results

Royal Ahold (NYSE: AHO), the international food retailer, achieved net earnings in 1998 (53 weeks) of NLG 1206 million (1997: NLG 934 million), an increase of 29%. After deduction of the preferred dividend, net earnings totaled NLG 1184 million (1997: NLG 915 million). Earnings per common share rose 19% to NLG 2.06 (1997: NLG 1.74).

The average number of common shares outstanding increased by 9% to 575.7 million, largely reflecting the global offerings of new equity to finance acquisitions in Latin America and the United States, and the placement of shares by issuing optional stock dividends.

The significant increase in net earnings was mainly attributable to further growth in the United States. The acquisition of US supermarket company Giant Food Inc. (`Giant-Landover') on October 28, 1998, contr...

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