EKT Grupo Elektra S.A. DE C.V.

Grupo Elektra Press Release MEXICO CITY, July 1 /PRNewswire-FirstCall/ -- Grupo Elektra S.A. de C.V. (NYSE:EKT) (BMV: ELEKTRA) (Latibex: XEKT) ("The Company"), Latin America's leading specialty retailer, consumer finance and banking and financial services company, announced today that it has submitted a Form 12b-25 to the U.S. Securities and Exchange Commission for late filing of its Annual Report on Form 20-F for the year ended December 31, 2004. The Company was not able to file its Annual Report on time because Castillo Miranda y Compania, S.C. is in the process of performing the procedures necessary to permit it to issue its independent auditor's report. As was announced in October 2004, the company's board of directors appointed Castillo Miranda y Compania, S.C. as the new independent auditing firm for Grupo Elektra, replacing PriceWaterhouseCoopers. The Company noted that, on June 30, 2005, it filed its Spanish-language annual report with the Mexican National Securities and Banking Commission as required under Mexican law. That report included Grupo Elektra's audited consolidated 2004 financial statements prepared in accordance with Mexican GAAP and certified by Castillo Miranda y Compania, S.C. Grupo Elektra expects to complete an English translation of that report promptly and furnish it to the U.S. Securities and Exchange Commission on Form 6-K. Grupo Elektra cannot reasonably estimate when it will be in a position to file its Annual Report on Form 20-F for 2004. 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 its Form 20-F and other filings with the U.S. Securities and Exchange Commission. 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 and Peru. Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through its more than 1,440 Banco Azteca branches located within its stores, as a stand-alone, and in other channels in Mexico and Panama. Banking and financial services include consumer credit, personal loans, money transfers, extended warranties, savings accounts, term deposits, pension-fund management and insurance. Contact: Esteban Galindez, CFA Director of Finance and I.R. Grupo Elektra S.A. de C.V. Tel. +52 (55) 1720-7819 Fax. +52 (55) 1720-7822 DATASOURCE: Grupo Elektra, S.A. de C.V. CONTACT: Esteban Galindez, CFA, Director of Finance and I.R., Grupo Elektra S.A. de C.V., +011-52-55-1720-7819, or fax, +011-52-55-1720-7822, or Web site: http://www.grupoelektra.com.mx/

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