Grupo Elektra Press Release

MEXICO CITY, Sept. 28  /PRNewswire-FirstCall/ -- Grupo Elektra S.A. de C.V. (BMV: ELEKTRA*; Latibex: XEKT), Latin America's leading specialty retailer, consumer finance and banking and financial services company, announced today that as it was previously informed, the period throughout which holders of Grupo Elektra Global Depositary Shares (GDSs) can exchange their GDSs for Grupo Elektra common shares, which are currently traded on the Mexican Stock Market (BMV), will expire on September 29, 2005.

As has been detailed in the Company's prior press releases, GDS holders have had a 60 day period, which started on August 1, 2005, to exchange their GDSs for common shares traded on the BMV.  Since September 30, 2005, The Bank of New York (BoNY) will be allowed to sell the common shares underlying the GDSs that were not surrendered and distribute the proceeds of such sale to holders of the remaining GDSs.  The Company understands from BoNY that BoNY is expected to sell the common shares on the BMV in a strategic manner within an undefined timeframe.

The Company had previously announced that at an Extraordinary Shareholders' Meeting held on June 1, 2005, 91.23% of Grupo Elektra's shareholders approved the termination of the GDS program, after an analysis and discussion of the costs and benefits of a continued listing on a U.S. national securities exchange.

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 and Peru.  Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through approximately 1,400 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.

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.

  Contacts:

   Dinorah Macias
   Investor Relations
   Grupo Elektra S.A. de C.V.
   Tel. [phone]
   Fax. [phone]
   

   Bruno Rangel
   Director of Investor Relations
   Grupo Salinas
   Tel. [phone]
   Fax. [phone]
   

   Rolando Villarreal
   Investor Relations
   Grupo Elektra S.A. de C.V.
   Tel. [phone]
   Fax. [phone]
   

DATASOURCE: Grupo Elektra S.A. de C.V.



CONTACT:  Dinorah Macias, Investor Relations, of Grupo Elektra S.A. de

C.V., [phone], ; Bruno Rangel, Director of

Investor Relations, of Grupo Salinas, [phone],

; or Rolando Villarreal, Investor Relations, of Grupo

Elektra S.A. de C.V., [phone], 



Web site:  http://www.grupoelektra.com.mx/ 

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