OREANDA-NEWS. On 24 April 2009 X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), today announced its audited IFRS results for the fourth quarter and full year ended 31 December 2008.

• In 2008 the Company generated USD 629 mln of operating cash flow;

• Net debt/EBITDA decreased from 3.2x at the beginning of the year to 2.2x as at 31

December 2008;

• 2009 sales growth and CapEx outlook as announced on 6 March 2009 reiterated.

X5 Retail Group CEO Lev Khasis commented:

“2008 marks a year of milestones for X5 Retail Group. The Company strengthened its number one position in the Russian retail sector and delivered on all of its promises for growth and profitability. In 2009, we will work to further enhance X5’s value proposition to win customers and drive increases in sales and market share, while building financial strength. Our ultimate goal is long-term outperformance, and we believe focused execution of X5’s multi-format strategy offers our shareholders the best opportunities for durable, profitable growth.”

X5 Retail Group CFO Evgeny Kornilov added:

“In 2008 X5 again delivered robust growth in sales and EBITDA, our key indicator of profitability. Our strong finish in the fourth quarter 2008 was driven by X5’s rapid and effective response to changes in the financial and economic situation as we scaled back CapEx and used healthy cash generation to improve short-term liquidity. We entered 2009 with a solid financial position, and during the year we expect this to strengthen further through cash flow management, cost control, disciplined investment and deleveraging.”

For more detailed information please refer to X5's website: http://www.x5.ru/