Grupo Elektra Restructures to Strengthen Leadership in Mexico and to Consolidate its Growth in Latin America

MEXICO CITY, Jan. 15 /PRNewswire-FirstCall/ -- Grupo Elektra, S.A. de C.V. (BMV: ELEKTRA*) (Latibex: XEKT), Latin America's leading specialty retailer, consumer finance and banking services company, announced today that the Board of Directors has renewed the Group's top management to consolidate its leadership in Mexico and guarantee solid and sustained growth in Latin America.

Mr. Septien has served as CEO of Banco Azteca -- a Grupo Elektra company - - since its launch in 2002. In four years, Mr. Septien has positioned Banco Azteca as one of the most important in Mexico in terms of distribution infrastructure and performance of the most relevant banking indicators.

"Carlos Septien has demonstrated solid leadership and unparalleled determination to generate dynamic growth in multiple environments," said Ricardo B. Salinas, Chairman of the Board of Grupo Elektra. "I am confident that his ability to conceive and administer high-growth companies with world class service will generate even greater strength in our operations."

Mr. Septien replaces Javier Sarro, who served as CEO of Grupo Elektra since 2000, and who will head up the international expansion of the Group, which will greatly intensify in the near future.

"I welcome the challenge to build on the high standards established under the administration of Javier Sarro," said Carlos Septien. "With the existing solid business and the strong working team Javier put together, I will focus on the positioning of our company in Mexico and Latin America under the criteria of maximum profitability."

In the operation of Grupo Elektra, Carlos Septien has the support of two seasoned executives with track records for generating superior results, Josue Garza and Juan Carlos Alonso. Mr. Garza is General Director of Geographic Operations, responsible for ensuring maximum quality in points of sale to offer excellence in customer service. Mr. Alonso is General Director of Products, Services and Supply, with the mandate of selecting the most adequate merchandise and proper inventories, as well as offering superior post-sales service.

"I am committed to supply Grupo Elektra with the products and services that satisfy our clients to the highest degree, as well as operating in the most efficient manner to generate outstanding revenue and EBITDA," said Mr. Septien. "This is a 'win-win' situation for Grupo Elektra and the millions of families who get access to affordable products throughout the countries where we operate, while contributing to increase their living standards."

Carlos Septien has over 25 years of experience with financial institutions. He holds a BS in industrial engineering from the Universidad Iberoamericana, as well as an MBA from Purdue University.

Company Profile:

Grupo Elektra is Latin America's leading specialty retailer, consumer finance and banking services company. Grupo Elektra sells retail goods and services through its Elektra, Salinas y Rocha, Bodega de Remates and Elektricity stores and over the Internet. The Group operates more than 1,000 stores in Mexico, Guatemala, Honduras, Peru and Panama. Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through approximately 1,500 Banco Azteca branches located within its stores, as a stand-alone, and in other channels in Mexico and Panama. Banking and financial services include loans, electronic money transfer services, extended warranties, demand deposits, pension-fund management, insurance, and credit information services. Grupo Elektra is a member company of Grupo Salinas ( http://www.gruposalinas.com/ ), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, building the Mexican middle class, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies.

Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Risks that may affect Grupo Elektra are identified in filings to securities authorities.

Contacts: Dinorah Macias Bruno Rangel Investor Relations Director of Investor Relations Grupo Elektra S.A. de C.V. Grupo Salinas Tel. [phone] Tel. [phone] Fax. [phone] Fax [phone]Daniel McCosh International Communications Grupo Salinas (5255) [e-mail]