ÎÀÎ Pharmacy Chain 36.6 reports preliminary 2004 results

3 February 2005, Moscow – ÎÀÎ Pharmacy Chain 36.6. The company management estimates its consolidated 2004 sales of USD210 million.

According to the Company’s management accounts the consolidated net sales reached USD210 million in 2004, 42% up from 2003. Retail sales rose by 76% from 2003 reaching USD134 million. The Company reports under International Accounting Standards (IAS). Audited financials are to be expected in the second quarter of 2005, the Company’s auditor is Deloitte.

As of February 1, Pharmacy Chain operated 258 pharmacies. In 2004, 69 new pharmacies were opened while 21 pharmacies were re-branded. Throughout the last year the Company entered new markets including Bashkiria, Nizhny Novgorod, Saint-Petersburg, and Ulyanovsk. At the same time, 36,6 continued its expansion in the Moscow logistic region.

Artem Bektemirov, Pharmacy Chain CEO, commented, “Last year we reached a national level in our development. We see our main challenge today in streamlining the operational processes and further retail technology refinement. Equally important for us is to continuously explore our customers’ preferences in different regions, so that every customer may find everything necessary for healthy lifestyle.

At the end of December 2004, the Company became listed at RTS and MICEX. Ordinary shares of OJSC Pharmacy Chain 36.6 were included into the “B” Quotation lists of both RTS and MICEX.

Notes to the Editor:

Pharmacy Chain 36.6 is the first public national health and beauty retailer listed both at MICEX (ticker: RU14APTK1007) and RTS (ticker: APTK). Market capitalization as of 01.01.05 was about USD150 million as per RTS.

The Company currently operates over  258  stores in 7 regions and 40 cities of Russia.

Veropharm, the Company’s generics subsidiary, is Russia’s forth largest manufacturer measured by 2003 output (as per “Remedium”).

Pharmacies 36.6 is one of the founding members of the Russian Association of Pharmacy Chains (RAPC).

Pharmacy Chain 36.6 employs over 6,000 people.

Some of the information contained in this press release may contain projections or other forward—looking statements regarding future events or the future financial performance of Pharmacy Chain 36.6 OJSC, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.  We wish to caution you that these statements are only predictions and, those actual events or results may differ materially. We do not intend to update these statements to conform them to actual results. We refer you to the documents Pharmacy Chain 36.6 OJSC files from time to time with the Russian Federal Securities Commission. These documents contain and identify important factors. These factors could cause the actual results to differ materially from those contained in our projections or forward—looking statements, including, among others, potential fluctuations in quarterly results, and risks associated with our competitive environment, acquisition strategy, ability to develop new products or maintain market share, brand and company image, operating in Russia, volatility of stock price, financial risk management, and future growth.