Trustee's report
To the holders of the 1984 5V4% bonds maturing 1990/1994, issued for the account of Ahold International
(Nederlandse Antillen) nv, having its registered office in Curasao (Netherlands Antilles), of
Dfl 100,000,000 par value, unconditionally guaranteed by Koninklijke Ahold nv, Zaandam.
In conformity with the provisions laid down in the relevant trust deed, the undersigned herewith reports
its activities for the fiscal year ended on December 31, 1989.
Interest payments on the loan were made on time by the borrower.
Given the structural adaptation of Ahold carried through as of fiscal 1987 - in which Ahold International
(Nederlandse Antillen) nv transferred its holdings to Koninklijke Ahold nv -, the latter has confirmed
that the capital of Ahold International (Nederlandse Antillen) nv will remain sufficient to meet the
commitments arising from the capital bonds loan.
As early repayment of the loan is not allowed and the official repayment is not due before January 1,
1990, the amount of the outstanding loan at balance sheet date has remained unaltered at
Dfl 100,000,000.
The repayment due under the terms of the loan on January 1, 1990, has been made.
Nederlandsche Trust-Maatschappij B.V
G. Hooijschuur B. Schut-De Knegt
Amsterdam, January 30, 1990
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