OREANDA-NEWS. July 2, 2008. OJSC "Company "M.video" (RTS, MICEX: MVID) announces the 1H 2008 update of the group's expansion programme.

The total number of new M.video hypermarkets opened in 1H 2008 amounted to 10 stores, as compared to 10 new stores opened in 1H 2007. In the 2nd quarter 2008 M.video group put into operation 5 new stores in Krasnoyarsk, Omsk, Sochi, the Republic of Adygeya and St.Petersburg.

The total space of the 10 new stores amounts to 27 000 sq. m (including 13 000 sq.m of the 5 new stores opened in 2Q 2008).

One store with a total space of 1400 sq. m was closed in Moscow in April 2008 due to the inconsistencies with the core store format.

At June 30, 2008 M.video Group operates 131 stores in 53 Russian cities. The total space of "M.video" stores amounts to 360 000 sq. m. The Company also confirmed its plan to open up to 40 new stores in 2008.