RB 53/2007 Joint Venture Agreement with ProFood Invest GmbH

The Management Board of AmRest Holdings N.V. (“AmRest”) informs about signing, on the 10 of September 2007, the Joint Venture Agreement (“JV Agreement”) between AMERICAN RESTAURANTS SP. Z O.O (“AmRest Poland”) and ProFood Invest GmbH (“ProFood”) with regards to form a jointly-owned company (“JVC”) which business shall be the development and operation of branded quick service and casual dining restaurants in Serbia. The JVC shall open first KFC restaurant in Belgrade still in 2007.

The JVC shall have an initial capital of EUR 1,500,000. AmRest Poland shall contribute sixty percent (60%) and ProFood forty percent (40%) of the initial capital to the JVC. The Board of Directors of JVC will consist of one AmRest and one ProFood representative.

The JV Agreement foresees that the Annual Operating Plan and Business Plan will be approved annually by General Meeting. After 5th year following the JV Agreement date AmRest Poland has a right and option to buy ProFood’s stake in JVC.

The JV Agreement shall continue in full force and effect for so long as AmRest or ProFood hold stakes in the JVC. The JV Agreement is conditional upon receiving approval of Franchisor (Yum!) for chicken suppliers for KFC restaurants intended to develop by JVC. The approval needs to be obtained until October 31, 2007 at the latest. Otherwise AmRest Poland shall have the right to terminate JV Agreement with immediate effect.

Legal Act:

§ 5.1.3 of Regulation of the Minister of Finance on current and periodic information to be published by issuers of securities, dated October 19th 2005