Grupo Elektra S.A. de
C.V. (BMV: ELEKTRA*; Latibex: XEKT), Latin America’s leading specialty
retailer, consumer finance and banking services company, announced that it
will introduce “FAW” automobiles into the Mexican market — with state of
the art technology, and top safety and emission control standards –
oriented to new customers in the marketplace in the first quarter of 2008.

The company completed a strategic alliance with First Automobile Works
Group (FAW Group) — the largest automobile group in China, and partner of
Volkswagen/Audi, Toyota and Mazda — which allows Grupo Elektra to sell
cars in Mexico that are produced in China. As part of the alliance, within
the next three years, Grupo Elektra and FAW Group will build an assembly
plant in the state of Michoacan, with important geographical and logistic
advantages, to produce cars in Mexico in 2010, with which it will supply
the Mexican and Central American demand.

The investment to build the plant and purchase equipment will be
approximately US$150 million over the three-year period, and the plant will
have the capacity to assemble 100,000 vehicles annually. After the three
years, the company will analyze the possibility of increasing the
production capacity.

The vehicles’ prices are 5% to 10% lower than the current average in
Mexico, allowing large segments of the population that currently cannot
afford to be customers of this industry to participate in that market.

The company considers the demand for the new cars to be substantial.
Other transportation products of Grupo Elektra — like motorcycles — have
an outstanding performance, with sales over 400,000 units in a period
shorter than three years. Just as with the motorcycles, the company will
develop an efficient infrastructure of after-sales service for cars, with
world-class quality.

Grupo Elektra will make the cars even more accessible through Banco
Azteca’s financing, as part of the company’s commitment to improve the
quality of life of an increasing number of families in the communities in
which it operates.

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,
building the middle class of the countries in which it operates, and
improving society through excellence.

Posted: 11|23|07 at 5:44 pm. Filed under: Press Release.