OREANDA-NEWS. On 23 January 2009 Dixy Group – one of the leading food retailers in the Russian Federation - announced robust revenue growth of 32% growth in Russian ruble terms (36% in US dollar terms) for the twelve months ended 31 December 2008 over the same period in 2007.

Dixy Group’s total revenue for the first twelve months of 2008 was RUR 48,291 million, a 32% increase compared to RUR 36,652 million for the twelve months of 2007.

In USD terms total revenue increased to 1,943 million, a 36% increase compared to USD 1,433 million for the same period of 2007.

Retail revenue from Dixy for the twelve months of 2008 was RUR 40,654 million (USD 1,636 million), which was 28% in RUR (32% in USD) higher than in the same period last year.

Retail revenue from Megamart for the twelve months of 2008 was RUR 5,137 million (USD 207 million), which was 61% in RUR (66% in USD) higher than in the same period last year.

Retail revenue from Minimart for the twelve months of 2008 was RUR 1,773 million (USD 71 million), which was 50% in RUR (54% in USD) higher than in the same period last year.

Retail revenue from VMart for the twelve months of 2008 was RUR 241 million (USD 9.7 million). Revenue from other activities, such as marketing revenue, sublease income and wholesale revenue amounted to RUR 486 million (USD 20 million).

The following exchange rates were used for converting Russian Rubles to US dollars:

Exchange Rate according to CBR           2007                              2008

Average (12 months), RUR/USD           25.5770                          24.8553

LFL Sales in RUR for 2008

For purposes of internal reporting and planning we include in like-for-like store base only stores which were opened twelve months before the beginning of the start of the comparison period thus giving the stores time to achieve maturity. We view this calculation as the most conservative and prudent as it reflects the performance of the mature stores. We include in this base stores opened before 01.01.06

For the purposes of comparison of our results with those published by our peers in Russia, we also present like-for-like calculation that includes stores that were open before 01.12.07. This calculation takes into the account the sales of stores that are still maturing.

LFL Sales in RUR for Q4 of 2008

For purposes of internal reporting and planning we include in like-for-like store base only stores which were opened twelve months before the beginning of the start of the comparison period thus giving the stores time to achieve maturity. We view this calculation as the most conservative and prudent as it reflects the performance of the mature stores. We include in this base stores opened before 01.10.06

For the purposes of comparison of our results with those published by our peers in Russia, we also present like-for-like calculation that includes stores that were open before 01.12.07. This calculation takes into the account the sales of stores that are still maturing.

2008 December and Q4 Results

Dixy Group’s total revenue for the December of 2008 was RUR 5,227 million, a 19% increase compared to RUR 4,399 million for the same period of 2007. During the 4th Quarter of 2008 total revenue was RUR 13,697 million, a 24% increase compared to RUR 11,046 million during the same period of 2007.