Grupo Elektra Appoints Guillermo Colin As Chief Financial Officer

MEXICO CITY, Nov. 29 /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 the appointment of Guillermo Colin Garcia, currently Banco Azteca's Chief Financial Officer, as Grupo Elektra's CFO.

Mr. Colin, 57, has 21 years of experience in key positions in finance and planning, and as a comptroller, in some of Mexico's first class financial institutions. He has also been Banco Azteca's CFO since its foundation in 2002.

Guillermo Colin has been responsible for designing and implementing strategies that strengthen the operating efficiency and the positive performance of the most significant Bank variables, which translate into a solid growth in the institution's deposits, credit and financial revenue. Guillermo Colin is a CPA of the Universidad Nacional Autonoma de Mexico and also holds a postgraduate degree in Strategic Planning.

"Guillermo has notable skills to optimally manage our resources with rapid growth, both at the Bank and at the commercial division," said Carlos Septien, Chief Executive Officer of Grupo Elektra and Banco Azteca. "His broad experience and deep knowledge of the company will be fundamental in our dynamic expansion in Mexico and Latin America, with solid financial perspective and discipline."

"The robust capital structure that Rodrigo built, as well as the planning and budget control basis -- with a clear approach in profitability -- are essential to continue with our firm growth with outstanding results," commented Mr. Septien. "His clear vision to translate strategy into operating discipline and solid results, will add enormous value to all of the companies of Grupo Salinas."

Mauro Aguirre, the current Comptroller of Grupo Elektra for Mexico and Latin America, will replace Mr. Colin as Banco Azteca's CFO. He has 11 years of experience in strategic positions in Grupo Elektra, and has had executive duties in world class Mexican and multinational companies since 1987, with financial planning and comptrolling responsibilities, as well as designing and implementing successful budget control strategies that maximize the efficient use of resources. Mr. Aguirre is a CPA from the Universidad Nacional Autonoma de Mexico and has also a master degree in Finance from the Instituto Tecnologico y de Estudios Superiores de Monterrey.

"Mauro's focus in efficient operations and in growth with strict budgeting will translate into outstanding results," concluded Mr. Septien. "With today's appointments we will further enhance our leadership in Mexico and Latin America, and we will give an additional boost to the solid capital structure and to profitability, benefitting all shareholders."

Company Profile:

Grupo Elektra (http://www.grupoelektra.com.mx/) is Latin America's leading specialty retailer, consumer finance and banking services company. The Group operates more than 1,700 points of sale in Mexico, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina. Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through Banco Azteca branches located in Mexico, Panama, Guatemala and Honduras. 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, contributing to build the middle class of the countries where it operates, and improving society through excellence.

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. Other risks that may affect Grupo Elektra and its subsidiaries are identified in documents sent to securities authorities.

Investor Relations

Dinorah Macias Bruno Rangel Grupo Elektra S.A. de C.V. Grupo Salinas Tel. [phone] Tel. [phone] Fax. [phone] Fax [phone]

Press Relations

Tristan Canales Daniel McCosh Grupo Salinas Grupo Salinas Tel. [phone] Tel. [phone]