X5 Retail Group N.V. postpones rouble bond issue
09 Apr 2007

Amsterdam, 26 March 2007 - X5 Retail Group N.V. (LSE ticker: “FIVE”), Russia’s leading grocery retailer, announced today the decision to postpone the first tranche of its 25 billion RUR Callable Bonds originally planned in three tranches during 2007 and early 2008 to refinance the Group’s existing debt and fund its store expansion.

Vitaliy Podolskiy, Group CFO , commented on this decision: "We intended to use the net proceeds of the first tranche (RUR 9 billion) planned for March-April 2007 to improve our debt structure taking advantage of favorable market conditions by converting our foreign currency loans into the Ruble zone and extending our debt maturity.  However, while market conditions are improving after recent global market correction, current volatility of the market makes this operation unattractive at this stage. There will be no implications of this decision on our operations nor investment plans.”

The date of the Rouble bonds issue will be announced by X5 Retail Group N.V. in due course depending on market conditions and corporate funding 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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