K. de Ruiter stands down from Management Board of Amstelland MDC NV

The Supervisory Board of AM NV (Amstelland MDC) announces that, following due mutual consultation, Mr. K. de Ruiter, Chairman of the Management Board, is standing down from this position today.

In the capacity of Consultant to the Management Board, Mr. De Ruiter will continue his relationship with the company for the remaining term of the previously agreed employment contract, which ends on 30 June 2004.

In 2004, Mr. De Ruiter (60) will have completed 40 years’ service with AM, formerly Amstelland/NBM Amstelland, in a variety of management positions. He has been a member of the Management Board since 1998 and its Chairman since 2001.

Mr. De Ruiter’s duties and responsibilities are to be assumed by an interim Management Board Chairman, whom the Supervisory Board expects to appoint in the near future.

Source: Am NV

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