Dudley Eustace completes his work at Ahold

12/19/2003, 8:33 AM (Source: GlobeNewswire)

Zaandam, The Netherlands, December 19, 2003 - Ahold today announced
that Dudley Eustace, the man brought in as interim CFO in March, has
completed his term as a member of the Corporate Executive Board at
Ahold. His primary responsibilities had been to stabilize the
financial fundamentals of the company and recruit a permanent Chief
Financial Officer.

"There is no doubt that Ahold is now in better shape than when Dudley
came on board," said Ahold President & CEO Anders Moberg, commenting
on Eustace's achievement. "He has made an enormous contribution to
improving the liquidity position of the company. It is largely thanks
to Dudley's stewardship of the financial restructuring process in the
months following the announcement of February 24 that we were able to
draw a line under the past and move forward to where we are today.
Together with Hannu Ryöppönen, whose appointment as CFO was confirmed
in September, he spent countless hours with our financial advisors
and guided the preparation of our numbers for full-year 2002 and the
first three quarters of 2003. He also laid the groundwork for the new
credit facility and the recent rights offering, which was
successfully placed. We are grateful to Dudley for what he has done
for our company and wish him well for the future."

Eustace, 67, will now be able to devote more time to his family and
to his position as non-executive chairman of Smith & Nephew plc, a
London-based global leader in advanced medical devices. Eustace was
appointed Chairman in 2000 following a year as Deputy Chairman. Prior
to that, the British national was also based in The Netherlands as
Deputy Chairman and Director of Finance at Royal Philips Electronics
N.V. from 1992 through 1999. Eustace remains a member of the
Supervisory Boards of KLM Royal Dutch Airlines N.V., Royal KPN N.V.,
Hagemeyer N.V. and Aegon N.V.

"When I came on board, I said that I was delighted to be able to
assist Ahold," Eustace said on his final day at the company. "It has
been an intensive 10 months but the teamwork between key players
throughout the company has been outstanding and the confidence of the
financial community in our ability to deliver is gradually being
restored. I wish Anders, my colleagues on the Corporate Executive
Board and indeed all Ahold associates the very best of luck in
rebuilding the reputation of this fine company going forward."
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