Heineken Holding N.V. Trading Update - First Quarter 2012

Amsterdam, 18 April 2012 - Heineken Holding N.V. today announced its trading
update for the first quarter of 2012. In the quarter:

* On an organic basis, HEINEKEN´s [1] revenue increased 6.8% with growth
across all regions, reflecting total consolidated volume growth of 3.5% and
revenue per hectolitre growth of 3.3%;
* On an organic basis, group beer volume and consolidated beer volume both
grew 4.7%, with strong growth achieved in all regions with the exception of
Western Europe;
* Volume of the Heineken® brand in the International Premium Segment grew by
8.7%, outperforming the broader beer market, supported by continued success
of the global ´Open Your World´ campaign;
* EBIT (beia) declined slightly, on an organic basis, in line with management
plans. This includes the impact of a EUR 23 million impairment charge
related to an investment by the Heineken-APB (China) Pte. Ltd joint venture
in a Chinese brewery held for sale; and
* Net profit (beia) declined slightly, on an organic basis.

Heineken Holding N.V. engages in no activities other than its participating
interest in Heineken N.V. and the management and supervision of and provision of
services to that company.

The first quarter is seasonally less significant in terms of volume and profit
contribution. In 2011, the first quarter represented 20% of consolidated beer
volume and considerably less in terms of profit contribution.

Financial results

Reported revenue of HEINEKEN grew 6.8% to EUR 3,834 million, including a
positive first time consolidation impact of EUR 17 million (+0.5%). Foreign
currency movements contributed to a negative translational effect on revenues of
EUR 18 million (-0.5%) in the quarter. This primarily reflects devaluation of
the Mexican peso, Belarusian ruble and Polish zloty, partly offset by a positive
US dollar currency effect (all versus the euro reporting currency). On an
organic basis, revenue increased 6.8%, with growth achieved across all regions.
This reflects total consolidated volume growth of 3.5% and revenue per
hectolitre growth of 3.3% following the benefit of pricing initiatives and
improved sales mix.

On an organic basis, EBIT (beia) declined slightly. The impact of higher revenue
and the realisation of cost savings were partly offset by increased fixed costs
in certain higher inflationary markets, business capability building investments
and increased input costs. In addition, EBIT (beia) includes a EUR 23 million
impairment charge related to non-completion of the proposed sale of Jiangsu
Dafuhao Breweries Co. Ltd within the Heineken-APB (China) Pte. Ltd (HAPBC) joint
venture. The amount of this impairment reflects HEINEKEN´s economic share of the