We have audited the consolidated financial statements for the period January 1, 1998 up to and including June 30,
1998 of AFC AjaxNV, Amsterdam. These financial statements are the responsibility of the company's management.
Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the Netherlands. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by the management, as well as evaluating the overall financial statements presentation.
We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements of AFC Ajax NV give a true and fair view of the financial position of the
entity as of June 30, 1998 and of the result for the six month period then ended in accordance with accounting
principles generally accepted in the Netherlands and comply with the legal requirements for financial statements as
included in Part 9, Book 2 of the Dutch Civil Code.
Amsterdam, November 24, 1998.