OREANDA-NEWS. December 21, 2009. X5 Retail Group N.V. (“Company”), Russia’s largest retailer in terms of sales (LSE ticker: “FIVE”), today announced decisions of the Company’s Supervisory Board to accept Carlos Criado-Perez Trefault's resignation from the Company's Supervisory Board effective 1 January 2010 pursuant to his decision to concentrate on personal business activities; and to convene an Extraordinary General Meeting of Shareholders on 15 January 2010 at 11.00 am CET (the "EGM").

The EGM will be held at Parkstraat 20, 2514 JK The Hague, The Netherlands. The record date for the EGM is 16 December 2009. The items that will be discussed at the EGM include:

• Re-appointment of the CEO, Mr. Lev Khasis, for a new term of four years (until 2014);

• Changes in composition of the Supervisory Board;

• Changes in remuneration of the members of the Supervisory Board aimed at creating more consistency in the remuneration principles and ensuring adequate reflection of the responsibilities of each Supervisory Board member; and

• Amendments to the Articles of Association of X5 Retail Group N.V. in order to decrease the threshold of issues subject to approval of the Supervisory Board.

Among other items, X5’s Supervisory Board proposes to the EGM to appoint Christian Couvreux as a new independent director. With the appointment of Mr. Couvreux the Supervisory Board of X5 Retail Group will be composed of seven members, four of which, including the Chairman, will be independent.

Chairman of X5's Supervisory Board Herve Defforey commented:

"I would like to thank Carlos Criado-Perez Trefault for his contribution to the growth and development of the Company since his appointment in 2007 and wish him good luck in his future undertakings”.

He also added: “With his proven track record and deep knowledge of the global retail industry, Mr. Christian Couvreux will bring valuable experience to X5’s Supervisory Board”.

Christian Couvreux was born on 24 November 1950 in Paris, France. He has had a long and successful international career in the food retail industry. Since 2005, Mr. Couvreux has been a retail consultant in Asia, in particular in Thailand, Vietnam, Indonesia and the Philippines. From 1990 to 2005 he held a number of senior executive positions with the major French retailer Groupe Casino, where he first served as Senior Executive Vice President, then as CEO from 1997 to 2003 and as Deputy Chairman of the Board until 2005. Prior to 1990, Mr. Couvreux held various leadership positions at CFAO (now part of PPR), in particular of CFAO-Congo and La Ruche Meridionale. Mr. Couvreux holds a master degree in Economic Sciences at the University of Paris, an MBA at the French business school H.E.C.; in addition he completed an Advanced Management Program at INSEAD.