10 March 2011

Lev Khasis to step down as CEO after five successful years with X5 to pursue personal projects; Andrei Gusev nominated as new CEO

Amsterdam, 10 March 2011

X5 Retail Group N.V., Russia’s largest retailer in terms of sales, today announced that it has accepted the resignation of Lev Khasis after five successful years as CEO. The Company’s Supervisory Board has elected Andrei Gusev as successor with immediate effect and will recommend to the Annual General Meeting of Shareholders to appoint Mr. Gusev as Chief Executive Officer as of the date of the meeting to be held in June 2011. Lev Khasis will remain with the Company through 01 June 2011 to ensure a smooth transition. Andrei Gusev is currently Deputy CEO of X5 and as such widely contributed to the Company’s success over the last years.