OREANDA-NEWS. On 03 September 2008 X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), published its unaudited IFRS results for the six months and quarter ended 30 June 2008 based on management accounts. This press release also contains adjusted Karusel’s results and X5’s pro-forma results that include Karusel’s performance since 1 January 2008.

X5 Retail Group CFO Evgeny Kornilov commented:

“After reporting solid sales growth in the second quarter, we are pleased to announce that our financial results were strong as well. Whilst our continual investment in prices and customer loyalty resulted in increased sales volumes, our cost control policy has enabled us to enhance profitability. Going forward we will maintain our focus on efficiency, and our key task for the rest of the year is to ensure smooth integration of Karusel and improvement of its operational and financial performance.”