OREANDA-NEWS. January 19, 2010. X5 Retail Group N.V. (the “Company”), Russia's largest retailer in terms of sales, today announced that all the proposed resolutions were passed by the shareholders and holders of global depository receipts ("GDRs") at the Extraordinary General Meeting of Shareholders ("EGM") held on 15 January 2010.

The key items that were approved at the EGM include:

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

•   Appointment of Mr. Christian Couvreux as a new independent member of the Supervisory Board of X5 Retail Group N.V. With the appointment of Mr. Couvreux the Supervisory Board of X5 Retail Group is composed of seven members, four of which, including the Chairman, are independent;

•   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.

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.