23 December 2010

X5 Retail Group appoints Kieran Balfe as Chief Financial Officer

Amsterdam, 23 December 2010

X5 Retail Group N.V., Russia’s largest retailer in terms of sales, announced today that Kieran Balfe will become X5 Group CFO with effect from January 11, 2011, following nomination of the Supervisory Board. His appointment as statutory director shall be placed on the agenda of an extraordinary shareholders meeting to be held in February 2011.