Report of the Executive Board Regional Review continued USA Consolidated beer volume' 7.5 million hectolitres Market share* 19 per cent Market position' 1 Imported beer segment. The beer market in the USA was slightly up and the segments of imported premium beer and speciality beer continued their robust growth rate, reflecting the increasing consumer demand for sophisticated and exciting beers. Revenues of Heineken USA grew 15 per cent driven by substantially higher volumes and higher realised prices. Total volumes of Heineken USA were up 15 per cent to 7.5 million hectolitres whilst depletions, the sales by the distributors to retailers, rose by 14 per cent. Market share increased. In the second year of the exclusive distribution deal with FEMSA, the portfolio of Mexican beers of FEMSA continued to grow. The volume grew by 14 per cent to 2.5 million hectolitres. In particular the Dos Equis® and Tecate® brands performed strongly, strengthening our position in the import segment, which is dominated by Mexican and Dutch beer. Amstel Light reported lower volumes. The brand's consumer base is increasingly switching to wine and premium spirits. Programmes are developed to reposition and strengthen Amstel Light. EBIT, despite the additional investments in Heineken Premium Light, was broadly unchanged. The impact of the exchange rate of the dollar was positive at EBIT level. In the last quarter of 2006 Heineken USA increased net prices by 2.5 per cent for all brands in the states of Texas, Florida and Hawaii, which represent 20 per cent of its volume. In the first quarter of 2007, prices of the remaining 80 per cent of the volume were increased by an average 2.5 per cent. Heineken beer recorded an increase in volume in all four regions of the country, growing by 19 per cent to 6.5 million hectolitres. This performance is due to new marketing programmes, better sales execution, the upgraded packaging and the halo effect of the launch of Heineken Premium Light. The DraughtKeg was introduced and demand exceeded supply. Q/T Heineken N.V. OOAnnual Report 2006

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