Amtel-Vredestein – Top Tyre Retailer in Russia

Amtel-Vredestein N.V. has today announced that its new OJSC AV-TO tyre retail subsidiary has acquired 63 additional multi-brand tyre sales and service centres. These are in major cities across Russia – and include the Horoshie Kolesa (“Good Wheels”) and Nordshina chains in St. Petersburg.

Along with previously announced acquisitions in Moscow, St. Petersburg and in the Perm region of Russia, the number of AV-TO outlets has raised to 104. This number exceeds Amtel-Vredestein’s commitment to expand its network to 100 locations by the first quarter of 2006.

“We have realized a significant market share in Moscow, St. Petersburg and in several vital cites as a result of these acquisitions,” said Amtel-Vredestein’s CEO Alexei Gurin. “We are proceeding according to the expansion strategy we announced to investors last year and have delivered on our promise to build a national retail network in early 2006.”

The network sells tyres from other manufacturers in addition to the company’s Vredestein and Amtel brands. Most stores also sell automotive parts, accessories, fluids; and many will expand to provide a range of services including exhaust systems and brake replacements.