RB 32/2006 Ukraine business development delay

Management Board of AmRest Holdings N.V. would like to inform of the decision to delay the business development in the Ukrainian market. Over the past year AmRest has reviewed the market and determined that now is not the right time to enter. We believe that within a few years the real estate and general business environment will be more favorable for AmRest to enter. Having recently acquired operations in Hungary and launched proprietary brands in Poland the opportunities for growth in existing markets allow AmRest to achieve its growth targets.  We believe Ukraine does offer a significant opportunity for restaurant development but supply of appropriate real estate locations and additional market reforms need to be put in place first.

Expenses associated with the Ukrainian market development are estimated at PLN 1.5 m. AmRest plans to maintain its Ukrainian subsidiary (AmRest Ukraine t.o.w.).

Legal act:

Ustawa o ofercie z dnia 29 lipca 2005 art. 56. ust. 1 punkt 1.