OREANDA-NEWS. On June 25, 2007 X5 Retail Group N.V. (LSE: FIVE), Russia’s leading food retailer in terms of sales, announced the appointment of Mr. Jacquot Boelen as Chief Executive Officer of X5 Retail Group in Ukraine, reported the press-centre of X5 Retail Group N.V.

Mr. Boelen, 47, will be responsible for the general management and business development of X5 in Ukraine. He will be in charge of implementing the Group’s multi-format strategy, developing and implementing commercial and operational strategy and meeting sales and EBITDA Group targets for the Ukrainian market. Mr. Boelen will be based in Kiev and will report into Lev Khasis, X5 Retail Group CEO.

Mr. Boelen has over 25 years of retail experience having held a variety of senior positions for international operators. Most recently, he was the President and CEO of Ahold, Central Europe.

Commenting on the appointment, Lev Khasis, X5 Retail Group CEO stated:

“The position of Chief Executive Officer in Ukraine has been created as a result of our strategic review, which identified the Ukrainian market as one of the two key geographical priorities – along with the European part of Russia - for the Group’s further expansion over the next 5 years. We are currently finalising our strategy for Ukraine, one of Eastern Europe’s largest markets with a huge potential and in which we aim to become one of the leading operators over the medium term by means of organic growth and potential selective acquisitions. We are confident that Mr. Boelen, with his extensive knowledge of the international retail business and his solid management background working for major retail companies, will contribute to the Company’s success in this market”.

Mr. Boelen commented:

“I am delighted to accept the position of CEO Ukraine, working for Russia’s leading food retail operator. X5 has a clear, long-term aggressive strategy for further expansion in one of the world’s fastest growing markets and I believe my experience in managing retail operations in Eastern Europe will help the Company to achieve its targets in Ukraine.”