OREANDA-NEWS. July 13, 2010. X5 Retail Group N.V., Russia's largest retailer in terms of sales, announced that Chief Financial Officer Evgeny Kornilov will leave X5 in October 2010 following his acceptance of a senior management position at another company. X5 has initiated a transition plan and the Supervisory Board has commenced an executive search process to recruit the best candidate for the CFO position.

Lev Khasis, CEO of X5 Retail Group, commented:

“During a critical period for the Company, Evgeny Kornilov has demonstrated time and again the importance of a good CFO. He was instrumental to X5’s successful response to the financial crisis and economic downturn, and played a leading role in controlling costs, increasing capex discipline, improving working capital and strengthening our liquidity and balance sheet. Evgeny also made valuable contributions in building X5’s finance organization and strengthening communication with the capital markets. We wish Evgeny much success and I am confident we will find an excellent successor to follow in his footsteps.”

Evgeny Kornilov added:

“It’s been my privilege to be part of X5 at a time of phenomenal growth and increased market leadership. The Company is in a strong financial position to support its strategic goals for the years to come. This is a good time to make a change and I will work closely with my colleagues on the management board and X5’s finance team to ensure a smooth transition.”

Evgeny Kornilov was appointed Chief Financial Officer of X5 Retail Group on 18 January 2008.

He joined the Company as CFO of Perekrestok in 2006 and became Deputy CFO of X5 in 2007.

Previously he was CFO and Chief Controller of SUN Interbrew in Russia and worked in the

Management Consultancy and Audit Services practice of PricewaterhouseCoopers. He has been

recognized with numerous awards, including the award for “Best Investor Relations by a CFO” in

the Focus Russia 2009 Thomson Reuters Extel Survey.