Colruyt N.V.

Earnings Release • Jan 31, 2012

PRESS RELEASE - Halle (Belgium) 31/01/2012 17:45h CET - Regulated information - Trading update first nine months 2011/2012

CONSOLIDATED REVENUE FIGURE

SALES OF THE FIRST NINE MONTHS OF 2011/2012

A consistent lowest prices strategy results in a further revenue growth in times of crisis.

Important elements that had an impact on the revenue figures of the first nine months of 2011/2012:

• - In times of economic crisis, when consumers are faced with economic measures, they consciously choose cheaper products which results in a slackening revenue growth.
• - Despite consumer uncertainty, our consistent lowest prices strategy is much appreciated by consumers, which resulted in good year-end sales and in an increase of our market share.
• - The French retail activities also continued to grow by means of store expansion in a competitive climate that puts much pressure on the spending power.
• - In a stagnating French Foodservice market, we can present a positive sales evolution after the past transition year.
• - Strong revenue increase in fuel activity.

During the first nine months of financial year 2011/2012 (period from 01/04/2011 to 31/12/2010) the Colruyt Group recorded a consolidated sales increase of 7.4% to EUR 5,898.9 million compared with EUR 5,494.7 million in the same period last year. The revenue figures of the different group segments are detailed in the table below.

Sales from the Group's retail business activities, mainly driven by our Colruyt banner stores, grew by 6.2 % to EUR 4,522.6 million. By the end of December 2011, the food retail trade consisted of 224 Colruyt, 76 OKay and 7 Bio-Planet stores in Belgium and 61 owned stores (Colruyt and Coccinelle) in France. The DreamLand activity comprises 44 non-food stores in Belgium and France.

Revenue from the Colruyt Group's wholesale and food service activities grew by 2.2% to EUR 968.2 million. This increase can be attributed mainly to Spar Wholesale and the French Foodservice activity.

The revenue of the remaining activities grew by 27.1 % to EUR 504.4 million. This increase was realised mainly by the Dats 24 petrol stations, the revenue of which increased as a result of price and volume increases as well as 3 new openings.

PRESS RELEASE - Halle (Belgium) 31/01/2012 17:45h CET - Regulated information - Trading update first nine months 2011/2012

REVENUE BY OPERATIONAL SEGMENT

	01/04/2011	01/04/2010
(in EUR million)	-	-	Evolution
	31/12/2011	31/12/2010
Retail trade	4,522.6	4,260.6	6.2%
Wholesale and Food service	968.2	947.4	2.2%
Other activities	504.4	396.8	27.1%
Total operational segments	5,995.2	5,604.8	7.0%
Transactions between operational segments	(96.4)	(110.1)
Consolidated	5,898.9	5,494.7	7.4%

Financial calendar

• Publication of annual results of financial year 2011/2012 26/06/2012 (17:45h)
• Publication of revenue figures for first quarter of 2012/13 27/07/2012 (17:45h)
• General meeting of shareholders 2011/12 26/09/2012 (16:00h)

Contacts

Wim Biesemans +32 2 360 10 40

The Colruyt Group

The Colruyt Group operates in the food and non-food distribution sector in Belgium, France and Luxembourg with some 400 own stores and over 500 affiliated stores. In Belgium this involves Colruyt, OKay, Bio-Planet, DreamLand, DreamBaby, Spar and Eurospar. In France, in addition to approximately 50 Colruyt stores, there are also affiliated, independent Coccinelle, CocciMarket and Panier Sympa stores. The Group is also actively involved in the food service market (supplying food products to hospitals, company canteen kitchens, catering businesses), the sale of fuels (DATS 24), printing and document management solutions (Symeta), engineering (Intrion) and the production of green energy. The Group employs over 24,000 people and has sales of over 7 billion euros. Colruyt is listed on Euronext Brussels (COLR) under ISIN code BE0974256852.

Risks relating to forecasts

Statements by the Colruyt Group in this press release, along with references to this press release in other written or verbal statements of the group which refer to future expectations with regard to activities, events and strategic developments of the Colruyt Group, are predictions and as such contain risks and uncertainties. The information communicated relates to information available at the present time, which can differ from the final results. Factors that can generate any variation between expectation and reality are: changes in the micro- or macroeconomic context, changing market situations, changing competitive climate, unfavourable decisions with regard to the building and/or extension of new or existing stores, procurement problems with suppliers, as well as all other factors that can impact the group's result, The Colruyt Group does not make any commitments with respect to future reporting that might have an influence on the group's result or that could bring about a deviation from the forecasts included in the press release or in other communications of the group whether written or oral.