Q2 sales show again good progress across the group
- Further sales momentum, taking into account a demanding base for comparison (+8.5% on constant exchange rates in Q2 2006), and a further negative impact from petrol (0.9% at Group level)

France: in a deflationary price environment, hypermarkets and supermarkets grow like for like sales ex petrol 1.8% and 0.6% respectively
- Hypermarkets recorded solid growth in food (+2.2% on a like for like basis), driven by volume growth. Sales in non-food have improved (like for like of +0.9%)
- Our commitment to local price leadership has meant strong deflation in the period
- Against this background, the group has consolidated the market share gains it made in 2006

Spain continues to lead other core markets
- In Spain, like for likes increased by 2.7%, reflecting the successful roll out of our multi-format, single brand, strategy
- Sales trends in Italy improved versus recent quarters as a result of a better adapted promotional model. We continue to focus on the strengthening of the commercial model in Belgium

Growth markets* again perform strongly
- All regions contributed to 21% sales growth on constant exchange rates

New m2 focused on Growth markets
- In Q2, we opened or acquired 460,000m², of which 80% outside our core European markets
- Tactical acquisitions accounted for 1.8% growth, of which Atacadao (Brazil) accounted for 1.4%

* Activities outside France, Spain, Belgium and Italy