Update on accident in Ozerki hypermarket

Press Release

26.01.2011

OKEY GROUP S.A. releases update on accident in "Ozerki" hypermarket

On 25 January 2011, a 500 square meter section of the roof at an O'KEY hypermarket in Ozerki, St. Petersburg collapsed, killing one employee and injuring ten people.

A response team consisting of local officials, emergency services and company officials is working at the site. The cause of the incident is being investigated. When the cause is determined, the company will assess what additional measures if any need to be taken as a result to ensure this issue is not repeated.

The Ozerki hypermarket will be closed until the necessary safety measures have been taken and repair works finalized.

As a precautionary measure the company has also decided to close 13 hypermarkets and 12 supermarkets in St. Petersburg for additional safety inspections in connection with the heavy snowfall over the past few days. It is expected that most or all of these stores will be re-opened within 72 hours.

Company CEO Patrick Longuet said: "We express our condolences to the family of the deceased and our sincerest regrets to those that were hurt, and we are making all possible efforts to help everyone that was affected by this incident." The company has announced that it will provide financial compensation to those who suffered, amounting to a total of approximately RUR 5 million, in additional to reimbursing medical expenses.

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For further information please contact:

Maksim Kravtsov Maria Radina

Head of investor relations Head of public relations

Num. +7(495)6636677, ext. 220 Num. +7(495)6636677, ext. 189

e-mail: [email protected] e-mail: [email protected]

www.okmarket.ru www.okmarket.ru