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Schiffrin & Barroway, LLP

Shareholder class action filed against koninklijke (translated as "Royal") ahold n.v. by the law firm of Schiffrin & Barroway, LLP

Bala Cynwyd, PA (ots)

The following statement was issued today
by the law firm of Schiffrin & Barroway, LLP:
Notice is hereby given that a class action lawsuit was filed in
the United States District Court for the Southern District of New
York on behalf of all purchasers of the common stock of Koninklijke
(translated as "Royal") Ahold, N.V. ("Ahold" or the "Company") (NYSE:
AHO) between March 6, 2001 and February 21, 2003, inclusive (the
"Class Period").
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests with respect  to
these matters, please contact Schiffrin & Barroway, LLP (Marc A.
Topaz, Esq. or Stuart L. Berman, Esq.) toll free at 1-888-299-7706 or
1-610-667-7706, or via e-mail at  info@sbclasslaw.com.
The complaint charges Koninklijke Ahold, N.V. and certain of its
officers and directors with issuing false and misleading statements
concerning its business and financial condition.  Specifically, the
complaint alleges that defendants issued numerous statements and
filed annual reports with the SEC which described the Company's
increasing income and financial performance. As alleged in the
complaint, these statements were materially false and misleading
because they failed to disclose and/or misrepresented the following
adverse facts, among others: (i) that the Company had materially
overstated its income by improperly including far higher promotional
allowances -- provided by suppliers to promote their products -- than
the company actually received in payment; (ii) that the Company's
Disco unit had engaged in certain transactions which were possibly
illegal and were improperly accounted for; (iii) that the Company was
experiencing a slowdown in consumer demand and that, contrary to
defendants' representations, the Company's financial performance was
not "very solid" and its fundamental business was not really "quite
robust"; (iv) that, contrary to defendants' representations, the
Company was having difficulty integrating its numerous acquisitions;
(v) that the Company lacked adequate internal controls and was
therefore unable to ascertain the true financial condition of the
Company; and (vi) as a result of the foregoing, the Company's
financial statements issued during the Class Period were materially
false and misleading.
The Class Period ends on Friday, February 21, 2003. On Monday
morning, February 24, 2003, before the opening of regular trading,
Ahold shocked the market by announcing that it: (i) would be reducing
its earnings expectations for 2002; (ii) would be restating its
financial results for 2000, 2001 and its interim results for 2002,
primarily due to overstatements of income, which may exceed $500
million, related to promotional allowance programs at U.S.
Foodservice in the past two years; (iii) will deconsolidate its
interests in three subsidiaries -- ICA Ahold, Jeronimo Martins Retail
and Disco Ahold International Holdings; and (iv) has been
investigating the legality of certain transactions and their
accounting treatment at the Company's Argentine subsidiary Disco; and
(v) as a result of all of this, the Company's CEO and CFO, defendants
van der Hoeven and Meurs would be resigning.
Later in the day, when the market opened for trading, shares of
Ahold's American Depositary Receipts fell $6.53 per share, or more
than 61%, to close at approximately $4.16 per share, a far cry below
their Class Period high of $32.65 per share, on extremely heavy
trading volume of more than 16.2 million shares traded.
Plaintiff seeks to recover damages on behalf of class members and
is represented by the law firm of Schiffrin & Barroway, LLP, which
prosecutes class actions on behalf of investors and shareholders. 
For more information on Schiffrin & Barroway, or to sign-up to
participate in this action online, please visit
http://www.sbclasslaw.com/cgi/signup.cgi.
If you are a member of the class described above, you may, not
later than April 28, 2003,  move the Court to serve as lead plaintiff
of the class, if you so choose.  In order to serve as lead plaintiff,
however, you must meet certain legal requirements.
More information on this and other class actions can be found on
the Class Action Newsline at www.primezone.com/ca.
ots Original Text Service: Schiffrin & Barroway, LLP
Internet: http://www.presseportal.de
CONTACT:
Schiffrin & Barroway, LLP
Darren J. Check, Esq.
Three Bala Plaza East
Suite 400
Bala Cynwyd
PA  19004
Phone:  +1/888/299'7706 (toll free) or
Phone:  +1/610/667'7706
E-Mail:  info@sbclasslaw.com