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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA PRESS-RELEASE OPEN JOINT STOCK COMPANY “DIXY GROUP” ANNOUNCES RESULTS OF ITS OFFERING AT RUB 391 PER ORDINARY SHARE Moscow, June 15, 2011 Open Joint Stock Company “DIXY Group” (“DIXY” or the “Company”), one of Russia’s leading retailers of foods and everyday products (MICEX, RTS: DIXY), today announces results of its share offering (the “Offering”) of (i) 38,750,000 newly issued ordinary shares (the “New Shares”) offered by the Company via open subscription and (ii) 1,113,849 treasury shares (the “Treasury Shares”, together with the New Shares, the “Shares”). All Shares have been subscribed for through the exercise of pre-emptive rights and by way of a placement on the market at fixed price RUB 391 per Share. The Company intends to use the proceeds from the sale of the Shares to finance the acquisition of the Victoria Group, for post-integration and general corporate purposes. The New Shares are expected to be listed on Closed Joint Stock Company “MICEX Stock Exchange” and Open Joint Stock Company “Russian Trading System Stock Exchange” after the filing of the Placement Notification with FSFM. The Treasury Shares are already listed and tradable on the above-mentioned stock exchanges. The Company and Mercury Group, the Company's main shareholder, have agreed to enter into a lock-up agreement for a period of 180 days following completion of the Offering, while certain major shareholders have agreed to enter into a lock-up agreement for a period of 360 days. VTB Capital acted as a Sole Global Coordinator and Bookrunner. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OJSC DIXY Group (RTS, MICEX: DIXY) is one of Russia’s leading retailers of foods and everyday products. The first DIXY store opened in 1999 in Moscow. As of May 31, 2011, the Group operated 690 stores, including 667 DIXY neighborhood store, 15 MEGAMART (compact hypermarket) stores and 8 MINIMART (supermarket) stores in three Federal Districts of Russia: Central, Northwest and Urals. In May 2007 the Company raised USD 360 million in its IPO on RTS and MICEX. The controlling stake in OJSC DIXY Group (63.37%) is owned by the Mercury Group of Companies, a diversified holding company. In 2010, DIXY's total revenue reached RUR 64.7 billion. As of May 31, 2011, the Company had a total of 234,192 square meters of selling space. The Company employs close to 18 thousand people. The Russian business magazine «Expert» rates DIXY Group as one of the Top-100 largest Russian companies. Contacts: Olga Popova Head of Investor Relations, DIXY Group Tel: +7 495 933 1450 Fax: + 7 495 933-0259 Mobile: +7 985 265 2660 Email: [email protected] http://www.dixy.ru/ Lavrentiy Gubin Press Representative DIXY Group Tel: + 7 495 933-1450 Fax: + 7 495 933-0259 Mobile: +7 910 467-5894 E-mail: [email protected] http://www.dixy.ru/ The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. This communication is only being distributed to and is directed only at (i) persons who are outside the United Kingdom; or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order; and (iv) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which this communication relates will only be available to and will only be engaged in with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented EU Directive 2003/71/EC (together with any applicable NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA implementing measures in any Member State, the “Prospectus Directive”) is addressed solely to qualified investors (within the meaning of the Prospectus Directive) in that Member State. This document is not an offer for sale nor a solicitation of an offer to buy any securities in the United States. These materials are not for distribution, directly or indirectly, in or into the United States. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). Consequently, the Shares may not be offered, sold, resold, delivered, distributed or otherwise transferred, directly or indirectly, into or within the United States except in accordance with an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of the Shares is being made in the United States. Shares in the Company have not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and, subject to certain exceptions, may not be offered or sold within Australia, Canada or Japan or to, or for the account or benefit of, citizens or residents of Australia, Canada or Japan except under circumstances which will result in full compliance with the applicable laws and regulations promulgated by the relevant regulatory authorities in effect at the relevant time. Certain statements in this press release are not historical facts and are “forward looking” within the meaning of Section 27A of the U.S. Securities Act and 2(1)(e) of the U.S. Securities Exchange Act of 1934. Forward looking statements include statements concerning our plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, our competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, our business strategy and the trends we anticipate in the industries and the political and legal environment in which we operate and other information that is not historical information. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward looking statements. We do not intend and we do not assume any obligation to update any forward looking statement contained herein.