27th Oct 2006 07:14
X5 Retail Group N.V.27 October 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN 27 October 2006 PYATEROCHKA HOLDING N.V. CHANGES ITS NAME TO X5 RETAIL GROUP N.V. Amsterdam, 27 October 2006 - Today, an official announcement was made to theeffect that Pyaterochka Holding N.V. - Russia's leading grocery retailer interms of sales - shall henceforth be known as X5 Retail Group N.V. The new name of the Group reflects the changes that have taken place in theCompany following the merger of Pyaterochka and Perekriostok retails chains inMay 2006 to create a clear leader of the Russian food retail sector. This hasalso been reflected in the company's new logo - a sign representing the Romanletter X, symbolizing multiplication, growth and crossroad ("perekriostok" inRussian), and the historical number 5 ("pyaterochka" in Russian). "Following the merger of Russia's leading retail chains, The Company entered anew stage in its development which required a new, modern and dynamic name forthe Group reflecting its ambitious strategic objective to become the mainconsolidator of the Russian fragmented food retail market, national champion ofthe sector able to compete with multinational companies," Group CEO Lev Khasiscommented. Note to Editors: X5 Retail Group N.V. is Russia's largest food retailer in terms of sales. As of30 September 2006, the group had 420 company-managed "Pyaterochka" soft discountstores located in the Moscow (199), St. Petersburg (199) and Yekaterinburg (22)areas, and 141 company-managed "Perekrestok" supermarkets across Central Russiaand Ukraine, including 81 stores in Moscow. As of 30 September 2006, franchisees operated 539 Pyaterochka branded storesacross Russia, in Ukraine and Kazakhstan. Perekrestok has 10 convenience storesoperated by franchisees in the Moscow area. Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 tocreate the clear leader in the Russian food retail market. Pyaterochka's 2005 net sales (pre-merger) reached USD 1,359 million, with grossbanner sales in 2005 of over USD 2 billion. Perekrestok net sales reached USD1,015 million in 2005. The Group's pro forma (assuming both chains contribution from 1 January 2006)net sales for the first half of 2006 were US $1,581 million (managementaccounts). During 1H 2006, the Pyaterochka chain provided US $906 million of netsales, while the Perekrestok chain contributed US $675 million of net sales. Forward looking statements: This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identifiedby the fact that they do not only relate to historical or current events.Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or otherwords of similar meaning. By their nature, forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances, a number of which are beyond X5Retail Group N.V.'s control. As a result, actual future results may differmaterially from the plans, goals and expectations set out in theseforward-looking statements. Any forward-looking statements made by or on behalf of X5 Retail Group N.V.speak only as at the date of this announcement. Save as required by anyapplicable laws or regulations, X5 Retail Group N.V. undertakes no obligationpublicly to release the results of any revisions to any forward-lookingstatements in this document that may occur due to any change in its expectationsor to reflect events or circumstances after the date of this document. - End - Enquiries to: X5 Retail Group N.V. Gennady Frolov Head of Corporate Communications Office +7 495 984 6956 ext.2093 Mobile +7 495 998 3335 Email [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
X5 Retail