Amtel Vredestein to publish 2007 accounts

ERJ staff report (DS)

Enschede, The Netherlands - Amtel-Vredestein NV said it has submitted unaudited annual accounts and annual report for the year to December 2007, to the Chamber of Commerce of the Netherlands in accordance with article 2:394 of the Dutch Civil Code.

The accounts include data made public last August. The directors of the company said they were aware of speculation that the company might not continue as a going concern, but have nevertheless prepared accounts assuming the company will continue as a going concern. They noted that there is, " no certainty that the business will not be continued." The statement continued, "However, this approach may not give a fair view going forward. Should the business or parts thereof not be continued in the future, this could have a material adverse effect on the operations, financial condition, assets and/or results of the Company, which, at this stage, cannot be quantified."

The statement continued, "The executive directors feel that preparing the FY2007 unaudited annual accounts on a going concern basis together with the inclusion of a warning about the possible inability to continue as a going concern as set out above gives the fairest view possible in the circumstances. " Amtel Vredestein said it would make further statements in due course.

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Press release from Amtel-Vredestein