OREANDA-NEWS  On 11 November Dixy Group – one of the leading food retailers in the Russian Federation - announced the successful completion of a mandatory share buyback of 353.9 million rubles from shareholders of OJSC “DIXY Group”.

The Company has purchased 969 886 shares from existing shareholders as of July 14, 2008 at a price of 367.16 rubles for each share.

Share price was established by Protocol #8/2008 of the meeting of Board of Directors of the Company on July 14, 2008 on the basis of estimate of market price of the shares of OJSC “DIXY Group”, performed by the independent auditor.

This mandatory buyback was conducted in accordance with articles 75 and 76 of the Federal Law “On Open Joint-Stock Companies” in relation to the pproval of large transaction within the framework of additional issue of shares of OJSC “DIXY Group”.