OREANDA-NEWS. October 2, 2008. OJSC "Company "M.video" (RTS, MICEX: MVID) announces that on September 30, 2008 several of the independent non-executive members of the Board of Directors and the Company's Chief Financial Officer collectively purchased 191,966 shares of the Company's share capital.

The shares of OJSC "Company "M.video" were bought from the market by the Chairman of the Board, Mr. Peter Gyoerffy (12,680 shares), non-executive independent board members Mr. David Hamid (27,790 shares) and Mr. Ilpo Hellander (8,440 shares), and the Company's Chief Financial Officer, Mr. Christopher Parks (143,056 shares).

Mr. Peter Gyoerffy, Chairman of the Board, has commented on that: "We believe that the geopolitical risks have led to weakness in the Russian equities market that is in contradiction to the fundamentals of the underlying businesses. The overselling on thin volumes has resulted in a significant opportunity for anyone to buy into a company with a great future and strong performance potential. We would like to demonstrate our belief in the management team and to send a clear signal of support to the investors and shareholders of M.video".