106 FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED HEINEKEN N.V. ANNUAL REPORT 20i 8 16. Investments in associates and joint ventures Shareholdings India In March 2008, the joint venture partners of Heineken in United Breweries Limited (UBL) filed legal proceedings in India against various Scottish Newcastle, Heineken and Carlsberg entities claiming that the rights enjoyed by Scottish Newcastle India Private Limited (the entity through which Heineken holds its investment in UBL) in a shareholders' agreement relating to UBL and the Articles of Association of UBL are personal to S&N and do not survive the takeover of S&N by Sunrise Acquisitions Limited in April 2008. Since this date, the joint venture partners and UBL itself have effectively excluded Heineken from the management of UBL and restricted the scope of the financial information previously available to Scottish Newcastle. The latter is also applicable to our 50% share in Millenium Alcobev Private Limited (MAPL) in which UBL also has a 50% share. As Heineken only has public Indian GAAP information available, Heineken does not have sufficient information to apply equity accounting for its investments in UBL and MAPL and has used the share price of UBL as at 31 December 2008 for the purposes of impairment testing. Share of profit of associates and joint ventures and impairments thereof In millions of EUR 2008 2007 Income associates 18 16 Income joint ventures 94 78 Impairments (214) (40) (102) 54 In 2008 the impairments relate to our Indian investments in UBL and MAPL of €200 million and impairments taken by Asia Pacific Breweries of €14 million (Heineken's share) (2007: €40 million related to Brau Holding International). Summary financial information for equity-accounted joint ventures Joint ventures* Joint ventures In millions of EUR 2008 2007 Non-current assets 1,071 892 Current assets 552 550 Non-current liabilities (280) (365) Current liabilities (626) (474) 717 603 Revenue 1,564 1,393 Expenses (1,388) (1,256) 176 137 Due to lack of information with respect to the S&N shareholdings in India, these joint ventures are not included in the provided figures. 17. Other investments In millions of EUR 2008 2007 Non-current other investments Loans 310 161 Held-to-maturity investments 10 3 Available-for-sale investments 221 233 Non-current derivatives used for hedging* 100 641 397 Current other investments Investments held for trading 14 14 14 14 €89 million in 2008 relates to Heineken N.V.

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