Note 38 38 LIST OF SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES Consolidated subsidiaries 2005. The Company does not believe that the adoption ot the guidance FSP SFAS 115-1 and SFAS 124-1 will have a significant effect on its future consolidated tinancial statements. The following are Ahold's significant subsidiaries, joint ventures and associates as of January 1, 2006. Unless otherwise indicated, these are wholly or virtually wholly owned subsidiaries. Subsidiaries not important to providing an insight into the Group as required under Dutch law are omitted from this list. With respect to the separate financial statements of the Dutch legal entities included in the consolidation, the Company availed itself of the exemption laid down in section 403, subsection 1 of Book 2 of the Netherlands Civil Code. Pursuant to said section 403, Ahold has issued declarations of assumption of liability for the Dutch subsidiaries forming part of the consolidation with the exception of Schuitema N.V. Retail trade U.S. The Stop Shop Supermarket Company LLC, Boston, Massachusetts Giant Food Stores, LLC, Carlisle, Pennsylvania Giant of Maryland LLC, Landover, Maryland Tops Markets, LLC, Buffalo, New York Peapod, LLC, Skokie, Illinois Retail trade Europe Albert Heijn B.V., Zaandam, the Netherlands Albert Heijn Franchising B.V., Zaandam, the Netherlands Gall Gall B.V., Hoofddorp, the Netherlands Etos B.V., Zaandam, the Netherlands Etos Pharma B.V., Zaandam, the Netherlands Schuitema N.V. (73.2%), Amersfoort, the Netherlands Eemburg C.V. (82%), Amersfoort, the Netherlands AHOLD Czech Republic, a.s., Brno, Czech Republic Ahold Retail Slovakia, k.s., Bratislava, Slovak Republic Ahold Slovakia, s.r.o., Bratislava, Slovak Republic Ahold Polska Sp. z o.o., Krakow, Poland Foodservice U.S. Foodservice, Columbia, Maryland, U.S. Real estate Ahold Lease U.S.A., Inc, Landover, Maryland, U.S. Ahold Real Estate Europe B.V., Zaandam, the Netherlands Ahold Vastgoed B.V., Zaandam, the Netherlands Ahold Real Estate Poland B.V., Zaandam, the Netherlands Ahold Real Estate Slovakia B.V., Zaandam, the Netherlands Ahold Real Estate Czech Republic B.V., Zaandam, the Netherlands ZIOS a.s. (98%), Brno, Czech Republic AHOLD ANNUAL REPORT 2005 209

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