S&P Affirms Its BB- Rating with Stable Outlook on X5 Retail Group N.V.
21 Jul 2008

Amsterdam, 21 July 2008 - X5 Retail Group N.V. (“X5” or the “Company”), Russia's largest
food retailer in terms of sales (LSE ticker: “FIVE”), announces today that Standard & Poor’s
has affirmed its long-term corporate credit rating on the Company at BB- with Stable outlook.
In its report S&P has stated that the rating is supported, among other factors, by the Company’s
leading position in the growing Russian food retail market, economies of scale and prudent cost
management. The rating agency noted that the Company’s aggressive growth results in an
increasing need for capital.

Standard & Poor’s has commented positively on the Company’s liquidity position stating that
“X5’s liquidity is supported by growing cash flow generation, a comfortable debt maturity
profile, and the flexibility provided by the largely discretionary nature of the Group’s capital
investment requirements”.

X5 Retail Group N.V.

LSE-Listed X5 Retail Group N.V. is Russia’s largest food retailer in terms of sales and the only multi-format operator in Russia and with a growing presence in Ukraine and Kazakhstan.  The two primary retail investments held by X5 include leading supermarket chain Perkerestok and Pyaterochka, one of the largest Russian discounter supermarket chains.  X5 uses a multi-format strategy to simultaneously develop three formats: discounters, supermarkets and hypermarkets.

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