RB 48/2008 Concise evaluation of standing of the Company

In accordance with the Rule III.1 of the Code of Best Practice for WSE Listed Companies and RB 8/2008 dated 25 January 2008, the Supervisory Board of AmRest Holdings N.V. presents a concise evaluation of the standing of the Company.

The Supervisory Board reviewed the Company accounts, the report of the Management Board and the Auditor’s Report for year 2007. The Board concluded that financial and operating performance of the Company was strong. Such a strong performance is evidenced, among other factors, by rapid sales growth, maintained profitability focus and significant cash generation.

The Company has a healthy balance sheet, which provides financial flexibility and the ability to pursue future growth opportunities. In the opinion of the Supervisory Board, given its current operational and financial condition, AmRest can continue to execute its growth strategy. The Supervisory Board has positively evaluated the 2007 annual report of the Company and recommends its approval by the Annual General Meeting.