14 December 2006

Corrections to an article in KOMMERSANT newspaper

Amsterdam, 14 December 2006

In connection with the December 14 article in Kommersant titled “Fishman Group to Invest $2.5 Billion in Russia, Lev Khasis to be Co-Investor in Some Projects”, X5 Retail Group N.V. clarified that Group CEO Lev Khasis is participating in one of the Mirland Group’s developers’ projects, as well as in some other retail and commercial real estate projects that are not related to X5 Retail Group N.V., exclusively as a financial investor and is not taking part in day-to-day management of such projects.