Payment dividend

In accordance with the resolutions carried at the General Shareholders' Meeting of 21/09/2005 a dividend will be paid for the amount of:

- for the ordinary shares:
Gross 2.44 EUR
Nett 1.83 EUR per share

- for the VVPR shares:
Gross 2.44 EUR
Nett 2.074 EUR per share

The dividend will be payable as of 04/10/2005 on presentation of coupon no. 7 at the counters of the following financial institutions:
Fortis Bank
ING
KBC Bank
Dexia Bank
Bank Degroof

The "Chairman’s Address for the General Meeting of Shareholders of Etn. Fr. Colruyt N.V. of 21 september 2005" will be published on our website on 21/9/2005 18 h.

Address of the Chairman to the General Meeting of Shareholders of Etn. Fr. Colruyt of 21 September 2005

In financial year 2004/2005 the turnover of the Colruyt Group rose by 15.12% to EUR 4.44 billion. Excluding Spar and Dolmen, the comparable turnover increase was 12.37%. In financial year 2004/2005, 15 months of the Spar Group operations were on our accounts compared to 8 months in the previous year, and the Dolmen Group only counted for 6 months, being taken out of the consolidation in the second half year.

The comparable consolidated profit after tax (group share) was EUR 219.52 million. This is an increase of 17.74%. Including the extraordinary gain on Dolmen shares distributed as a dividend, the consolidated profit after tax was EUR 239.75 million.
These good results were fully in line with our expectations.

The proposed gross dividend of EUR 2.44 per share means an increase of 22%.

All components of the Colruyt Group again made a positive contribution to the consolidated profit last year. The Colruyt shops and the DreamLand shops continued to grow strongly, and the most recent activities of the Group such as the Okay shops and the French operations substantially increased their contribution to the consolidated profit.

The Colruyt shops in Belgium, including the Comarché/Comarkt shops to be converted, had a turnover increase of 11.63%. Their contribution to the consolidated profit (group share) rose by 18.3% to EUR 197.57 million. In financial year 2004/2005, 12 new Colruyt shops were opened: 3 newly constructed shops, 8 Comarché/Comarkt shops and 1 acquired supermarket were converted into Colruyt shops. One existing shop was also relocated and 7 shops were renovated and enlarged.
The total sales area of the Colruyt shops thereby increased by 7.43% or 17,028 m² .

There are still 8 Comarché/Comarkt shops (ex Central Cash and Battard shops) and 2 acquired shops to be converted into Colruyt shops. This will be done in 2005/06.

OKay, our discount corner shops in Belgium, was also expanded last financial year to 28 shops and achieved a turnover of EUR 91.98 million. The turnover and profit progression of Okay confirms its commercial potential on the Belgian market.

In 2004, DreamLand realised a turnover increase of 14.56% to EUR 126.02 million, mainly thanks to continual adjustments to the range based on the constantly changing trends on the market. The contribution to the consolidated profit was EUR 6.33 million. At the end of financial year 2004, DreamLand was operating 22 shops.

The Pro à Pro Distribution Group, who consolidates the French operations, realised a turnover of EUR 367.85 million. Their contribution to the consolidated profit of the Colruyt Group was EUR 2.90 million.

The French GMS operations (Grandes et Moyennes Surfaces - supermarkets) comprise both integrated shops and affiliated shops and achieved a turnover increase of 31.62%. This was mainly due to the acquisition of the Mallet Group on 1 July 2004, whereby the number of independent shops supplied increased substantially. Alongside the 44 branches of our own, we now supply 758 independent shops, including 15 Coccinelle branches, 51 CocciMarket branches and 70 Panier Sympa branches.

The French foodservice operations achieved a turnover increase of 8.5%, although if we disregard the new acquisition of S.A.S. Galland in the Hautes Alpes, and Proman in Alsace, the increase was 6.1%.
Last financial year the Druco Group contributed nicely to the consolidated profit, making EUR 2.91 million against EUR 1.74 million the year before.

Spar Retail made a contribution to the consolidated profit of EUR 3.78 million. It should be noted that the Spar Group counted for 15 months in the consolidated accounts, against 8 months in the previous financial year. The focus was on renovating shops, strengthening the marketing activities, and price positioning.

Our partnership with the independent shops of the Alvo Group was further developed and refined last financial year, and has further growth potential.

At the end of financial year 2004/2005, the Colruyt Group, without the 851 Dolmen employees, had 16,157 employees. This is 972 employees more than at the end of the previous financial year.

Outlook

In the first 5 months of the current financial year 2005/2006 (from April to August 2005 inclusive) the turnover in our core business, Colruyt distribution together with our Okay corner shops, rose by 10.3%. The turnover in our Spar operations rose by 1.2% in the same period.

The DreamLand shops had a turnover increase of 13.23% from January to June 2005.
The GMS and foodservice operations in France also had turnover increases in the same period of 54.1% and 18.9% respectively.

Largely because of rising oil prices, consumers are tending to keep tight control of the purse strings. The “price” component is thus playing a greater role. We also note that there is some price nervousness on the distribution market. Nevertheless, the gross margins of the various activities are in line with our expectations. True to our tradition, we are continuing to pay attention to improving our operating costs.

For example, at Spar, alongside continuing the ambitious shop renovation plan, we are working hard to improve operational efficiency. The price reductions applied are now having their full impact and to some extent are showing through in the results. These structural investments in Spar will bear fruit in time.

For financial year 2005/2006, we anticipate a consolidated profit (under IAS/IFRS), group share, of at least EUR 225 million, compared to EUR 210.86 million (*) last financial year.

We also anticipate EUR 228 million of investment for this financial year – excluding any acquisitions. Alongside the usual investments in our shops, this year we are making additional investments in our depots, our meat processing unit (Vlevico), and a new wine bottling plant and coffee roasting plant in Ghislenghien.
Although certainly under consideration, we do not currently anticipate any substantial investments to start up any operations in the Netherlands. The only thing we are doing is a study to get to know the Dutch market better.

A word of thanks

A special word of thanks to René De Wit, who today, after 30 years, is leaving the Colruyt Group to explore new study horizons. René is a reliable man, without frills, but efficient and enthusiastic. As managing director he has looked after the good of "the company" for 18 years like no other. His skills and his track record are an example to us all. On behalf of myself, the entire Board of Directors, all employees of the Group, and all shareholders: hats off and thank you.

I would also like to heartily congratulate and thank all employees of the Colruyt Group for the results achieved. It was again a very demanding year with regard to the competitive environment, and also in view of the number of new shops that we opened last year. Thanks to the daily efficient dedication of everybody in the service of our customers, we were able to deliver a quality that they appreciate. The skills of every one of us means that I have every confidence in the future of our Group.

Jef Colruyt

(*) Consolidated profit financial year 04/05, group share under IAS/IFRS excluding the one-off gain of EUR 18.4 million on Dolmen Computer Applications shares distributed as a dividend.

Proposal to appoint an independent director

At the general meeting of 21 September 2005, Jef Colruyt, Chairman of the Board of Directors, announced that the Board of Directors will propose the appointment of the B.V.B.A. Delvaux Transfer, with Mr Willy Delvaux acting as its permanent representative, as an independent director. The Board of Directors will submit this proposal to the extraordinary general meeting to be held on 18 October 2005.

Mr Willy Delvaux, 53 years of age, has a long-standing working experience within the Procter & Gamble Group. Up to last year he was the general manager at Procter & Gamble Belgium-Netherlands and he is currently holding worldwide responsibility for the transition of the acquired company Wella, within Procter & Gamble.

The Board of Directors proposes to appoint the B.V.B.A. Delvaux Transfer, with Mr. Willy Delvaux acting as its permanent representative, as a director for a term commencing on 1 March 2006 and ending at the general meeting of 2007.

On 1 March 2006, Mr Delvaux will have resigned from all his functions at Procter & Gamble and the Board of Directors will be expanded by someone who has acquired extensive experience at the international level.

We consider the appointment of this independent director with his wide international experience an enrichment for the Board of Directors of the Colruyt Group.

A brief curriculum vitae of Mr. Willy Delvaux is given below.

Age: 53 years. Married, 3 children.
Nationality: Belgian
Education: Civil Engineer in Mechanics - Electro technology
Post-university degree in Business Management (Vlerick)
Professional experience : Procter & Gamble (P&G)
1977- 1990: Growing marketing responsibilities at Procter & Gamble in various countries (Belgium, the Netherlands, Germany, United States)
1990-1993: General Manager, Procter & Gamble Poland
1993-1996: General Manager, Procter & Gamble Egypt
1996-2004: General Manager, Procter & Gamble Belgium - Netherlands
2004- Beginning of 2006: Global Wella Transition within Procter & Gamble

Poirette press release

The group PRO A PRO DISTRIBUTION has signed an agreement for the takeover of 100 % of the shares of S.A. Ets POIRETTE with registered office in VENDEGIES-SUR-ECAILLON, and the takeover of 100 % of the shares of S.A. EUROCASH POIRETTE, a 100 % subsidiary of S.A. Ets POIRETTE with head office in VALENCIENNES.

The acquisition will take place on the 29th of April 2005.

The main activity of S.A. Ets POIRETTE consists in the wholesale of fresh products, and through the agency of its subsidiary, the wholesale of dry products. It is active in the sector of food service as well as in the sector of food retail. In the fiscal year 2004 S.A. Ets POIRETTE has realised a 7 million euro turnover. The company employs 35 persons.

THE S.A. Ets POIRETTE develops its activities mainly in the departments PAS-DE-CALAIS (62), NORD (59) and part of the AISNE (02).

The acquisition of S.A. Ets POIRETTE forms the onset for the future development of the activities of PRO A PRO DISTRIBUTION in the northern departments of France, in the field of both dry food and fresh products Thus PRO A PRO will be able to accelerate the accomplishment of its strategy to become a NATIONAL partner for social and commercial restaurants by means of a network of independent companies specialised in the trade. It also enables them to continue to develop their commercial activities in wholesale business as a partner of Large and Medium-sized Supermarkets.

The French holding PRO A PRO DISTRIBUTION is a 100% subsidiary of the Belgian Ets Fr. COLRUYT nv that is quoted on the stock exchange. PRO A PRO DISTRIBUTION combines the French activities in the field of food retail and food service. Its consolidated turnover is over 350 million euro and its authorised capital amounts to 67.8 million euro. PRO A PRO DISTRIBUTION already employs more than 1.500 staff, among whom 130 sales people.

Press release of nv Etn. Fr. Colruyt
Distribution of a bonus dividend in the form of shares of the
nv Dolmen Computer Applications

The general assembly of shareholders of 15 September 2004 decided to distribute a bonus dividend in the form of shares of nv Dolmen Computer Applications. A Dolmen share could be obtained against nine coupons no 5 of the Colruyt share. It was possible to exchange coupon no 5 against Dolmen shares until 31/03/2005. A total of 3,920,344 shares were to be distributed. On 31/03/2005 34,359,111 coupons no 5 had been exchanged against 3,817,679 Dolmen shares, i.e. 97.38%.

In the prospectus concerning this operation (dd 22/09/2004) it was provided for to sell the rest of the (non-exchanged) Dolmen shares on the exchange between 01/04/2005 and 30/06/2005, and to distribute the net price of this sale (sales price - expenses) among the non-exchanged no 5 coupons.

Consequently, the remaining 102,665 Dolmen shares have been sold on 05/04/2005 at a net price of 9.68 euros per share, which means that the 923,985 non-exchanged no 5 coupons entitle the holder to a gross dividend of 1.43 euros or 1.0725 euros net. This dividend will be paid as from 04/07/2005 against delivery of the no 5 coupons in one of the following financial institutions: Fortis Bank, ING, KBC Bank, Dexia Bank, Bank Degroof.

The Board of Directors of nv Etn. Fr. Colruyt records with satisfaction that this operation went off smoothly with no appreciable price fluctuations or discrepancies. Following this operation, nv Etn. Fr. Colruyt holds 214,996 Dolmen shares in portfolio that remained outside this distribution of dividend. This represents 2.59 % of the total amount of shares of nv Dolmen Computer Applications issued.

Press release N.V. Etn. Fr. COLRUYT

Exchanging no 5 coupons for N.V. Dolmen Computer Applications - Reminder

IThe Board of Directors reminds the shareholders that at the General Meeting of 15 September 2004 it was decided to pay out a bonus dividend in the form of shares of the N.V. Dolmen Computer Applications.

In exchange for nine No. 5 coupons of the Colruyt share, 1 N.V. Dolmen Computer Applications share can be acquired.

The separate listing of coupon no. 5 at Euronext Brussels was requested between 30 September 2004 and 27 March 2005.

Exchanging no. 5 coupons for N.V. Dolmen Computer Applications shares will be possible until 31 March 2005.
As of that date, it will not longer be possible to exchange them.

As of 1/4/2005 the exchange will no longer be possible and the Dolmen Computer Applications shares not taken will be sold on the stock exchange until 30/06/2005.

The net amount (income minus costs) will be divided by the number of coupons not exercised, and as of 5/7/2005 this amount may be obtained upon presentation of the no. 5 coupons not yet exercised at the counters of financial institutions.

The details for this operation may be consulted on our website www.colruyt.be/Financial information/Prospectus/2. Prospectus.