SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

July 29, 2005

GRUPO ELEKTRA, S.A. de C.V.

(Exact name of registrant as specified in its charter)

Edificio Parque Cuicuilco (Esmeralda)
Insurgentes Sur No. 3579
Col. Tlalpan
14000 Mexico, D.F., Mexico
(Address of principal executive offices)

1-13200
(Commission File Number)

[Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.]


Form 20-F [X]		Form 40-F [ ]

[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]


Yes [ ]		No [X]

[If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .]

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED BALANCE SHEETS

AT AND AS OF JUNE 30, 2005 AND 2004

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005						2nd QUARTER 2004
S	CONCEPTS	Amount			%			Amount			%
1	TOTAL ASSETS		43,089,398			100	%		28,974,178			100	%

2	CURRENT ASSETS		35,311,730			82	%		21,417,821			74	%
3	CASH AND SHORT-TERM INVESTMENTS		17,943,826			42	%		9,491,657			33	%
4	ACCOUNTS RECEIVABLE (NET)		12,715,077			30	%		7,238,130			25	%
5	OTHER ACCOUNTS RECEIVABLE		1,480,002			3	%		1,149,391			4	%
6	INVENTORIES		3,172,825			7	%		3,538,643			12	%
7	OTHER CURRENT ASSETS					0	%					0	%
8	LONG-TERM ASSETS		1,211,393			3	%		1,039,934			4	%
9	ACCOUNTS RECEIVABLE (NET)
10	INVESTMENT IN SHARES OF NON-CONSOLIDATED SUBSIDIARIES AND AFFILIATES		1,211,393			3	%		1,039,934			4	%
11	OTHER
12	PROPERT, PLANT AND EQUIPMENT		5,297,980			12	%		4,501,215			16	%
13	PROPERTIES		3,299,893			8	%		3,316,905			11	%
14	MACHINERY AND INDUSTRIAL EQUIPMENT		355,764			1	%		368,158			1	%
15	OTHER EQUIPMENT		5,602,736			13	%		4,829,649			17	%
16	ACCUMULATED DEPRECIATION		(3,960,413	)		-9	%		(4,013,497	)		-14	%
17	CONSTRUCTION IN PROGRESS					0	%					0	%
18	DEFERRED ASSETS (NET)		766,570			2	%		1,362,195			5	%
19	OTHER ASSETS		501,725			1	%		653,013			2	%

20	TOTAL LIABILITIES		35,172,319			100	%		21,801,363			100	%

21	CURRENT LIABILITIES		28,988,291			82	%		17,671,238			81	%
22	SUPPLIERS		4,105,167			12	%		3,092,220			14	%
23	BANK DEBT		—			0	%		651,499			3	%
24	STOCK MARKET LOANS		1,015,593			3	%		475,304			2	%
25	PAYABLE TAXES		163,355			0	%		99,904			0	%
26	OTHER CURRENT LIABILITIES		23,704,176			67	%		13,352,311			61	%
27	LONG-TERM LIABILITIES		4,668,006			13	%		2,849,121			13	%
28	BANK DEBT		2,068,006			6	%		119,982			1	%
29	STOCK MARKET LOANS		2,600,000			7	%		2,712,620			12	%
30	OTHER DEBT		—			0	%		16,519			0	%
31	DEFERRED CREDITS		1,414,763			4	%		1,191,128			5	%
32	OTHER LIABILITIES		101,259			0	%		89,876			0	%

33	CONSOLIDATED STOCKHOLDERS´ EQUITY		7,917,079			100	%		7,172,815			100	%

34	MINORITY STOCKHOLDERS					0	%		45,297			1	%
35	MAJORITY STOCKHOLDERS		7,917,079			100	%		7,127,518			99	%
36	CONTRIBUTED CAPITAL		1,777,938			22	%		1,962,110			27	%
38	CAPITAL STOCK (NOMINAL)		545,630			7	%		545,630			8	%
38	CAPITAL STOCK (RESTATEMENT)		177,050			2	%		177,067			2	%
39	PAID-IN CAPITAL		1,055,258			13	%		1,239,413			17	%
40	CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES
41	GAINED CAPITAL		6,139,141			78	%		5,165,408			72	%
42	RETAINED EARNINGS AND CAPITAL RESERVES		9,936,184			126	%		8,202,590			114	%
43	RESERVE FOR REPURCHASE OF SHARES		161,081			2	%		439,953			6	%
44	GAIN (LOSS) FROM HOLDING NONMONETARY ASSETS		(4,828,507	)		-61	%		(4,323,024	)		-60	%

45	NET INCOME FOR THE PERIOD		870,383			11	%		845,889			12	%

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED BALANCE SHEETS

MAIN CONCEPTS BREAKDOWN

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005						2nd QUARTER 2004
S	CONCEPTS	Amount			%			Amount			%
3	CASH AND SHORT-TERM INVESTMENTS		17,943,826			100	%		9,491,657			100	%
46	CASH		1,896,735			11	%		676,222			7	%
47	SHORT-TERM INVESTMENTS		16,047,091			89	%		8,815,435			93	%

18	DEFERRED ASSETS (NET)		766,570			100	%		1,362,195			100	%
48	CAPITALIZED EXPENSES					0	%					0	%
49	GOODWILL		766,570			100	%		1,362,195			100	%
50	DEFERRED TAXES					0	%					0	%
51	OTHER					0	%					0	%

21	CURRENT LIABILITIES		28,988,291			100	%		17,671,238			100	%
52	DENOMINATED IN FOREIGN CURRENCY		332,206			1	%		363,886			2	%
53	DENOMINATED IN MEXICAN PESOS		28,656,085			99	%		17,307,352			98	%

24	STOCK MARKET LOANS		1,015,593			100	%		475,304			100	%
54	COMMERCIAL PAPER		1,000,000			0	%		475,304			0	%
55	MEDIUM-TERM NOTES					0	%					0	%
56	CURRENT PORTION OF LONG-TERM DEBT		15,593			0	%					0	%

26	OTHER CURRENT LIABILITIES		23,704,176			100	%		13,352,311			100	%
57	INTEREST BEARING CURRENT LIABILITIES		22,469,484			95	%		12,994,954			97	%
58	NON-INTEREST BEARING CURRENT LIABILITIES		1,234,692			5	%		357,357			3	%

27	LONG-TERM LIABILITIES		4,668,006			100	%		2,849,121			100	%
59	DENOMINATED IN FOREIGN CURRENCY					0	%		16,519			1	%
60	DENOMINATED IN MEXICAN PESOS		4,668,006			100	%		2,832,602			99	%

29	STOCK MARKET LOANS		2,600,000			100	%		2,712,620			100	%
61	BONDS		2,600,000			100	%		2,712,620			0	%
62	MEDIUM-TERM NOTES					0	%					0	%

30	OTHER DEBT		—			0	%		16,519			100	%
63	INTEREST BEARING CURRENT LIABILITIES		—			0	%		16,519			100	%
64	NON-INTEREST BEARING CURRENT LIABILITIES		—			0	%					0	%

31	DEFERRED CREDITS		1,414,763			100	%		1,191,128			100	%
65	NEGATIVE GOODWILL					0	%					0	%
66	DEFERRED TAXES		962,461			68	%		811,331			68	%
67	OTHER		452,302			32	%		379,797			32	%

32	OTHER LIABILITIES		101,259			100	%		89,876			100	%
68	RESERVES		101,259			100	%		82,489			92	%
69	OTHER		—			0	%		7,387			8	%

44	GAIN (LOSS) FROM HOLDING NONMONETARY ASSETS		(4,828,507	)		100	%		(4,323,024	)		100	%
70	MONETARY POSITION ACCUMULATED EFFECT					0	%					0	%
71	GAIN (LOSS) FROM HOLDING NONMONETARY ASSETS		(4,828,507	)		100	%		(4,323,024	)		100	%

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED FINANCIAL STATEMENTS

OTHER INFORMATION

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005		2nd QUARTER 2004
S	CONCEPTS	Amount		Amount
72	WORKING CAPITAL		6,323,439		3,746,583
73	PENSION FUND AND SENIORITY PREMIUM RESERVE		101,259		82,489
74	EXECUTIVES (*)		186		140
75	EMPLOYEES (*)		31,657		24,944
76	WORKERS (*)		—		—
77	OUTSTANDING SHARES (*)		240,588,007		236,736,440
78	REPURCHASED SHARES (*)		9,291,200		8,423,540


(*)		THESE CONCEPTS ARE EXPRESSED IN UNITS

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED INCOME STATEMENT

FROM JANUARY 1st TO JUNE 30, 2005 AND 2004

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005					2nd QUARTER 2004
R	CONCEPTS	Amount		%			Amount			%
1	NET SALES		14,831,359		100	%		12,117,118			100	%
2	COST OF GOODS SOLD		8,116,414		55	%		6,837,415			56	%
3	GROSS PROFIT		6,714,945		45	%		5,279,703			44	%
4	OPERATING EXPENSES		5,158,955		35	%		3,924,017			32	%
5	OPERATING INCOME		1,555,990		10	%		1,355,686			11	%
6	COMPREHENSIVE FINANCING RESULT		385,062		3	%		389,487			3	%
7	INCOME AFTER COMPREHENSIVE FINANCING RESULT		1,170,928		8	%		966,199			8	%
8	OTHER FINANCIAL OPERATIONS		330,535		2	%		(72,904	)		-1	%
9	PRE-TAX INCOME		840,393		6	%		1,039,103			9	%
10	RESERVE FOR TAXES AND EMPLOYEES´ STATUTORY PROFIT SHARING		258,033		2	%		193,000			2	%
11	INCOME BEFORE EQUITY IN INCOME OF NON-CONSOLIDATED SUBSIDIARIES AND AFFILIATES		582,360		4	%		846,103			7	%
12	EQUITY IN INCOME OF NON-CONSOLIDATED SUBSIDIARIES AND AFFILIATES		288,023		2	%		(634	)		0	%
13	INCOME FROM CONTINUING OPERATIONS		870,383		6	%		845,469			7	%
14	DISCONTINUED OPERATIONS										0	%
15	INCOME BEFORE EXTRAORDINARY ITEMS		870,383		6	%		845,469			7	%
16	EXTRAORDINARY ITEMS — NET
17	NET EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES
18	NET CONSOLIDATED INCOME		870,383		6	%		845,469			7	%
19	INCOME OF MINORITY STOCKHOLDERS				0	%		(420	)		0	%
20	INCOME OF MAJORITY STOCKHOLDERS		870,383		6	%		845,889			7	%

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED INCOME STATEMENT

MAIN CONCEPTS BREAKDOWN

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005						2nd QUARTER 2004
R	CONCEPTS	Amount			%			Amount			%
1	NET SALES		14,831,359			100	%		12,117,118			100	%
21	DOMESTIC		13,566,537			91	%		11,177,090			92	%
22	FOREIGN		1,264,822			9	%		940,028			8	%
23	FOREGIN SALES EXPRESSES IN U.S. DOLLARS (***)		117,439			1	%		81,600			1	%

6	COMPREHENSIVE FINANCING RESULT		385,062			100	%		389,487			100	%
24	INTEREST EXPENSE		340,307			88	%		497,471			128	%
25	EXCHANGE LOSS		128,525			33	%		—			0	%
26	INTEREST INCOME		(56,099	)		-15	%		(53,123	)		-14	%
27	EXCHANGE GAIN		—			0	%		(31,476	)		-8	%
28	GAIN ON NET MONETARY POSITION		(27,671	)		-7	%		(23,385	)		-6	%

8	OTHER FINANCIAL OPERATIONS		330,535			100	%		(72,904	)		100	%
29	OTHER EXPENSES (INCOME) — NET		330,535			100	%		(72,904	)		100	%
30	(PROFIT) LOSS ON SALE OF SHARES
31	(PROFIT) LOSS ON SALE OF SHORT-TERM INVESTMENTS

10	RESERVE FOR TAXES AND EMPLOYEES ´STATUTORY		258,033			100	%		193,000			100	%
	PROFIT SHARING
32	INCOME TAX		273,601			106	%		139,652			72	%
33	DEFERRED INCOME TAX		(15,568	)		-6	%		53,348			28	%
34	EMPLOYEES´ STATUTORY PROFIT SHARING		—			0	%		—			0	%
35	DEFERRED EMPLOYEES´ STATUTORY PROFIT SHARING		—			0	%		—			0	%


(***)		THOUSANDS OF EMPLOYEES´ U.S. DOLLARS

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED INCOME STATEMENT

OTHER INFORMATION

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005		2nd QUARTER 2004
R	CONCEPTS	Amount		Amount
36	TOTAL SALES		14,831,358		12,117,117
37	NET INCOME FOR THE PERIOD (**)		912,003		423,188
38	NET SALES (**)		29,122,591		23,779,931
39	OPERATING INCOME (**)		3,131,577		2,814,157
40	INCOME OF MAJORITY STOCKHOLDERS (**)		1,910,043		1,602,472
41	CONSOLIDATED NET INCOME (**)		1,910,463		1,603,337


(***)		LAST TWELVE MONTHS INFORMATION

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

QUARTERLY CONSOLIDATED INCOME STATEMENT

FROM APRIL 1st TO JUNE 30, 2005 AND 2004

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005					2nd QUARTER 2004
R	CONCEPTS	Amount		%			Amount			%
1	NET SALES		7,645,360		100	%		6,455,754			100	%
2	COST OF GOODS SOLD		4,204,657		55	%		3,620,511			56	%
3	GROSS PROFIT		3,440,703		45	%		2,835,243			44	%
4	OPERATING EXPENSES		2,604,646		34	%		2,086,464			32	%
5	OPERATING INCOME		836,057		11	%		748,779			12	%
6	COMPREHENSIVE FINANCING RESULT		278,737		4	%		299,749			5	%
7	INCOME AFTER COMPREHENSIVE FINANCING RESULT		557,320		7	%		449,030			7	%
8	OTHER FINANCIAL OPERATIONS		330,535		4	%		81,367			1	%
9	PRE-TAX INCOME		226,785		3	%		367,663			6	%
10	RESERVE FOR TAXES AND EMPLOYEES´ STATUTORY PROFIT SHARING		151,537		2	%		104,457			2	%
11	INCOME BEFORE EQUITY IN INCOME OF NON-CONSOLIDATED SUBSIDIARIES AND AFFILIATES		75,248		1	%		263,206			4	%
12	EQUITY IN INCOME OF NON-CONSOLIDATED SUBSIDIARIES AND AFFILIATES		276,288		4	%		(950	)		0	%
13	INCOME FROM CONTINUING OPERATIONS		351,536		5	%		262,256			4	%
14	DISCONTINUED OPERATIONS										0	%
15	INCOME BEFORE EXTRAORDINARY ITEMS		351,536		5	%		262,256			4	%
16	EXTRAORDINARY ITEMS — NET
17	NET EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES
18	NET CONSOLIDATED INCOME		351,536		5	%		262,256			4	%
19	INCOME OF MINORITY STOCKHOLDERS				0	%		(38	)		0	%
20	INCOME OF MAJORITY STOCKHOLDERS		351,536		5	%		262,294			4	%

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

QUARTERLY CONSOLIDATED INCOME STATEMENT

MAIN CONCEPTS BREAKDOWN

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005						2nd QUARTER 2004
R	CONCEPTS	Amount			%			Amount			%
1	NET SALES		7,645,360			100	%		6,455,754			100	%
21	DOMESTIC		6,951,675			91	%		5,921,442			92	%
22	FOREIGN		693,685			9	%		534,312			8	%
23	FOREIGN SALES EXPRESSES IN U.S. DOLLARS (***)		66,308						45,300

6	COMPREHENSIVE FINANCING RESULT		278,737			100	%		299,749			77	%
24	INTEREST EXPENSE		180,882			65	%		340,639			114	%
25	EXCHANGE LOSS		136,871			49	%		—			0	%
26	INTEREST INCOME		(29,296	)		-11	%		(24,175	)		-8	%
27	EXCHANGE GAIN		—			0	%		(10,439	)		-3	%
28	GAIN ON NET MONETARY POSITION		(9,720	)		-3	%		(6,276	)		-2	%

8	OTHER FINANCIAL OPERATIONS		330,535			100	%		81,367			100	%
29	OTHER EXPENSES (INCOME) — NET		330,535			100	%		81,367			100	%
30	(PROFIT) LOSS ON SALE OF SHARES
31	(PROFIT) LOSS ON SALE OF SHORT-TERM INVESTMENTS

10	RESERVE FOR TAXES AND EMPLOYEES´ STATUTORY		151,537			100	%		104,457			100	%
	PROFIT SHARING
32	INCOME TAX		147,889			98	%		33,540			32	%
33	DEFERRED INCOME TAX		3,648			2	%		70,917			68	%
34	EMPLOYEES´ STATUTORY PROFIT SHARING					0	%					0	%
35	DEFERRED EMPLOYEES´ STATUTORY PROFIT SHARING					0	%					0	%


(***)		THOUSANDS OF U.S. DOLLARS

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION

FROM JANUARY 1st TO JUNE 30, 2005 AND 2004

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005			2nd QUARTER 2004
C	CONCEPTS	Amount			Amount
1	CONSOLIDATED NET INCOME		870,383			845,469
2	+ ( — ) ITEMS CHARGED (CREDITED) TO INCOME NOT AFFECTING RESOURCES		1,095,867			786,093
3	CASH FLOW FROM NET INCOME OF THE YEAR		1,966,250			1,631,562
4	CASH FLOW FROM CHANGES IN WORKING CAPITAL		3,750,368			1,549,753
5	CASH GENERATED BY (USED ON) OPERATING ACTIVITIES		5,716,618			3,181,315
6	CASH FLOW FROM EXTERNAL FINANCING		(128,932	)		(97,245	)
7	CASH FLOW FROM INTERNAL FINANCING		(531,672	)		(339,038	)
8	CASH GENERATED BY (USED ON) FINANCING ACTIVITIES		(660,604	)		(436,283	)
9	CASH GENERATED BY (USED ON) INVESTING ACTIVITIES		(593,310	)		(861,446	)
10	NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		4,462,704			1,883,586
11	CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		13,481,122			7,608,071
12	CASH AND CASH EQUIVALENTS AT END OF PERIOD		17,943,826			9,491,657

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION

FROM JANUARY 1st TO JUNE 30, 2005 AND 2004

(Thousands of Mexican Pesos of June 30, 2005 purchasing power)


REF		2nd QUARTER 2005			2nd QUARTER 2004
C	CONCEPTS	Amount			Amount
2	+ ( — ) ITEMS CHARGED (CREDITED) TO INCOME NOT AFFECTING RESOURCES		1,095,867			786,093
13	DEPRECIATION AND AMORTIZATION OF THE PERIOD		630,468			530,845
14	INCREASE (DECREASE) IN IN PENSION FUND AND SENIORITY PREMIUM RESERVE		11,019			3,595
15	EXCHANGE (GAIN) LOSSES		—			—
16	NET INCOME (EXPENSE) FROM RESTATEMENT OF ASSETS AND LIABILITIES		—			—
17	OTHER ITEMS		647,906			377,389
17	OTHER ITEMS THAT DOESN´T HAVE TO DO WITH EBITDA		(193,526	)		(125,736	)

4	CASH FLOW FROM CHANGES IN WORKING CAPITAL		3,750,368			1,549,753
18	(INCREASE) DECREASE IN ACCOUNTS RECEIVABLE		(1,939,988	)		(1,826,447	)
19	(INCREASE) DECREASE IN INVENTORIES		537,224			111,622
20	(INCREASE) DECREASE IN LONG-TERM ACCOUNTS RECEIVABLE AND OTHER ASSETS		849,174			263,025
21	INCREASE (DECREASE) IN SUPPLIERS		(350,807	)		(193,796	)
22	INCREASE (DECREASE) IN OTHER LIABILITIES		4,654,765			3,195,349

6	CASH FLOW FROM EXTERNAL FINANCING		(128,932	)		(97,245	)
23	SHORT-TERM BANK DEBT AND STOCK MARKET LOANS		(9,131	)		357,592
24	LONG-TERM BANK DEBT AND STOCK MARKET LOANS		245,143			(446,655	)
25	DIVIDENDS RECEIVED
26	OTHER FINANCING		(1,355	)		176,592
27	( — ) BANK DEBT AMORTIZATION
28	( — ) STOCK MARKET LOANS AMORTIZATION
29	( — ) OTHER FINANCING		(363,589	)		(184,774	)

7	CASH FLOW FROM INTERNAL FINANCING		(531,672	)		(339,038	)
30	INCREASE (DECREASE) IN CAPITAL STOCK		(10,981	)		123
31	PAID DIVIDENDS		(264,841	)		(256,540	)
32	PAID-IN CAPITAL		(255,850	)		(82,621	)
33	CONTRIBUTIONS FOR FUTURE CAPITAL STOCK INCREASES

9	CASH GENERATED BY (USED ON) INVESTING ACTIVITIES		(593,310	)		(861,446	)
34	(INCREASE) DECREASE IN PERMANENT INVESTMENTS		—			(103,889	)
35	ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT		(593,310	)		(757,557	)
36	INCREASE IN CONSTRUCTION IN PROGRESS
37	SALE OF PERMANENT INVESTMENTS
38	SALE OF FIXED ASSETS
39	OTHER ITEMS

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

FINANCIAL RATIOS
CONSOLIDATED FINANCIAL STATEMENTS


REF		2nd QUARTER 2005			2nd QUARTER 2004
P	CONCEPTS

	YIELD
1	NET INCOME TO NET SALES		5.87	%		6.98	%
2	NET INCOME TO STOCKHOLDERS´ EQUITY (**)		24.13	%		22.48	%
3	NET INCOME TO TOTAL ASSETS (**)		4.43	%		5.53	%
4	CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME		14.05	%		21.18	%
5	INCOME DUE TO GAIN ON NET MONETARY POSITION		3.18	%		2.77	%

	ACTIVITY
6	NET SALES TO TOTAL ASSETS (**)		0.68	times		0.82	times
7	NET SALES TO FIXED ASSETS (**)		5.50	times		5.28	times
8	INVENTORY TURNAROUND (**)		4.18	times		3.41	times
9	RECEIVABLES TURNAROUND		134	days		93	days
10	INTEREST EXPENSE TO TOTAL INTEREST BEARING LIABILITIES (**)		7.76	%		7.35	%

	LEVERAGE
11	TOTAL LIABILITIES TO TOTAL ASSETS		81.63	%		75.24	%
12	TOTAL LIABILITIES TO STOCKHOLDERS´ EQUITY		4.44	times		3.04	times
13	FOREIGN CURRENCY LIABILITIES TO FIXED ASSETS		0.94	%		1.74	%
14	LONG-TERM LIABILITIES TO FIXED ASSETS		88.11	%		63.30	%
15	OPERATING INCOME TO INTEREST EXPENSE		4.57	times		2.73	times
16	NET SALES TO TOTAL LIABILITIES (**)		0.83	times		1.09	times

	LIQUIDITY
17	CURRENT ASSETS TO CURRENT LIABILITIES		1.22	times		1.21	times
18	CURRENT ASSETS LESS INVENTORIES TO CURRENT LIABILITIES		1.11	times		1.01	times
19	CURRENT ASSETS TO TOTAL LIABILITIES		1.01	times		0.98	times
20	CASH TO CURRENT LIABILITIES		61.90	%		53.71	%

	CASH FLOW
21	CASH FLOW FROM NET INCOME TO NET SALES		13.01	%		13.46	%
22	CASH FLOW FROM CHANGES IN WORKING CAPITAL TO NET SALES		25.53	%		12.79	%
23	CASH GENERATED BY (USED IN) OPERATING ACTIVITIES TO INTEREST EXPENSE		16.80	times		6.39	times
24	EXTERNAL FINANCING TO CASH GENERATED BY (USED ON) FINANCING ACTIVITIES		19.52	%		22.29	%
25	INTERNAL FINANCING TO CASH GENERATED BY (USED ON) FINANCING ACTIVITIES		80.48	%		77.71	%
26	ACQUISITION OF PROPERTY, PLANTA AND EQUIPMENT TO CASH GENERATED BY (USED IN) INVESTING ACTIVITIES		100.00	%		87.94	%


(**)		LAST TWELVE MONTHS INFORMATION

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

PER SHARE DATA
CONSOLIDATED FINANCIAL STATEMENTS


REF		2nd QUARTER 2005			2nd QUARTER 2004
D	CONCEPTS
1	BASIC EARNINGS PER COMMON SHARE (**)		7.80			6.74
2	BASIC EARNINGS PER PREFERENT SHARE (**)		—			—
3	DILUTED EARNNGS PER COMMON SHARE (**)		—			—
4	EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS (**)		4.82			6.74
5	EFFECT OF DISCONTINUED OPERATIONS ON					.
	EARNINGS PER COMMON SHARE (**)		—			—
6	EFFECT OF EXTRAORDINARY ITEMS ON EARNINGS PER COMMON SHARE (**)		2.98			—
7	EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES ON EARNINGS PER COMMON SHARE (**)		—			—
8	BOOK VALUE PER SHARE		32.91			30.11
9	ACCUMULATED CASH DIVIDEND PER COMMON SHARE		1.11			1.08
10	DIVIDEND IN SHARES PER COMMON SHARE		—	shares		—	shares
11	MARKET PRICE TO BOOK VALUE		2.43	times		2.26	times
12	MARKET PRICE TO BASIC EARNINGS PER COMMON SHARE (**)		10.25	times		10.11	times
13	MARKET PRICE TO BASIC EARNINGS PER PREFERENT SHARE (**)		—	times		—	times


(**)		LAST TWELVE MONTHS INFORMATION

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CHIEF EXECUTIVE OFFICER REPORT

ANNEX 1

GRUPO ELEKTRA ANNOUNCES RECORD EBITDA OF Ps. 1.1 BILLION FOR 2Q05, UP 17%

— Revenues up 18% to Ps. 7.6 Billion for 2Q05 —

— Banco Azteca’s Customer Deposits Grew 75% to Ps. 22.5 Billion and Gross Credit Portfolio Increased 77% to Ps. 13.0 Billion —

Highlights

The collection rate of Banco Azteca continues at the same excellent historic level that defines Grupo Elektra’s standard, approximately 97% as of June 30, 2005. On June 1, Círculo de Crédito, S.A. de C.V. received authorization from the Ministry of Finance to start operations as the new credit information bureau for individuals in Mexico.

Financial Highlights:

Millions of Pesos of constant purchasing power as of June 30, 2005.


					Change									Change
	2Q04		2Q05		$		%			6M04		6M05		$			%
Consolidated Revenues		6,456		7,645		1,190		18.4	%		12,117		14,831		2,714			22.4	%
Gross Profit		2,835		3,441		605		21.4	%		5,280		6,715		1,435			27.2	%
EBITDA		990		1,159		170		17.1	%		1,853		2,186		333			18.0	%
Net Income		262		352		89		34.0	%		846		870		24			2.9	%
EPS (pesos per share) (1)		1.10		1.44		0.33		30.1	%		3.56		3.55		(0.00	)		(0.1	%)
EPS (US$ per ADR) *		0.41		0.53		0.12		30.1	%		1.32		1.32		(0.00	)		(0.1	%)


⁽¹⁾		Calculation based on 244,876,000 Elektra* (61,219,000 GDSs equivalent) weighted average at June 30, 2005 and 237,716,000 Elektra* (59,429,000 GDSs equivalent) weighted average outstanding at June 30, 2004.

*		Ps. 10.77 per US$

Mexico City, July 25, 2005 — Grupo Elektra, S.A. de C.V. (BMV: ELEKTRA*; NYSE: EKT; Latibex: XEKT), Latin America’s leading specialty retailer, consumer finance and banking and financial services company, reported today its financial results for the second quarter of 2005.

Javier Sarro, CEO of Grupo Elektra said, “Our second quarter financial results were consistent with the outlook we provided for 2005. We are very enthusiastic that the overall business expansion translated into solid earnings growth and further improvements in profitability and bottom line”.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CHIEF EXECUTIVE OFFICER REPORT

ANNEX 1

Carlos Septién, Banco Azteca’s CEO said, “We are delighted with Banco Azteca’s strong financial results, which exceeded our expectations. Banco Azteca represents an optimal alternative to grant reliable consumer credit for millions of families who have been able to increase their purchasing power and improve their quality of life though access to high quality products and services. Likewise, we are transforming the Mexican banking system with our unique products and services, and principally, the savings culture in a large under attended segment of the population”.

Financial Division

Banco Azteca

For 2Q05, Banco Azteca reported net income of Ps. 122.0 million, 28.4% higher than the net income of Ps. 95.0 million for 2Q04.

As of June 30, 2005, the estimated capitalization index of Banco Azteca was 11.3%, flat when compared with the index of June 2004. The capitalization index exceeds the 8.0% minimum required by Mexican regulators.

Gross Credit Portfolio

Banco Azteca’s total gross credit portfolio increased 76.9%, reaching Ps. 13.0 billion from Ps. 7.4 billion at the end of 2Q04. The average term of the credit portfolio at the end of the 2Q05, was 54 weeks. At the end of 2Q05, we had a total of 4.5 million active accounts, representing a 38.7% increase from 2Q04. The collection rate of Banco Azteca continues at the same excellent historic level that defines Grupo Elektra’s standard, approximately 97% as of June 30, 2005.

Savings Accounts and Term Deposits

Net deposits increased 74.5% to Ps. 22.5 billion in 2Q05 from Ps. 12.9 billion in 2Q04, and the total number of accounts rose to 6.8 million.

Afore Azteca

For 2Q05, Afore Azteca reported a net income of Ps. 1.0 million from a net income of Ps. 5.0 million for 2Q04. As of June 30, 2005, Siefore Azteca reached Ps. 4.2 billion in net assets under management, and yielded an 8.67% return.

Seguros Azteca

For the fifth consecutive quarter, Seguros Azteca recorded a positive net income; this time of Ps. 37.0 million, from a net income of Ps. 7.0 million in 2Q04.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CHIEF EXECUTIVE OFFICER REPORT

ANNEX 1

Círculo de Crédito

On June 1, Círculo de Crédito, S.A. de C.V. received authorization from the Ministry of Finance to start operations as the new credit information bureau for individuals in Mexico. Grupo Elektra partnered with Banco Afirme, S.A., Coppel, S.A. de C.V., Grupo Chedraui, S.A. de C.V., and two other private investors to create Círculo de Crédito. Each partner of the new credit bureau has 18% equity stake with the exception of the two private investors who each has a 14% equity stake. The new credit bureau primarily intends to obtain, manage and send information on the credit history of individuals.

Commercial Division

Commercial division revenues decreased 1.0%, due primarily to lower merchandise revenues that result from the closing of certain stores that did not reach our profitability standards. However, Latin American operations continued to show favorable results.

Total Debt and Net Debt

At the end of 2Q05, the commercial division’s total debt with cost was Ps. 3.6 billion, 8.5% lower compared with Ps. 3.9 billion at the end of 2Q04. Net debt at the commercial division decreased to a negative amount of Ps. 576.3 million in 2Q05 from Ps. 1.1 billion in 2Q04.

Consolidated Financial Results

Consolidated Revenues

Consolidated revenues increased 18.4% to Ps. 7.6 billion in 2Q05 from Ps. 6.5 billion in 2Q04.

EBITDA

Consolidated EBITDA reached Ps. 1.1 billion, a 17.1% increase from Ps. 989.9 million in 2Q04. During the quarter, the growth in operating expenses was offset by higher consolidated revenues and a 110 basis points higher consolidated gross margin, from 43.9% in 2Q04 to 45.0% in 2Q05. Consolidated EBITDA margin reached 15.2%, 10 basis points lower than the 15.3% reported in 2Q04.

EBITDA & Operating Profit

Millions of Pesos of constant purchasing power as of June 30, 2005.


					Change									Change
	2Q04		2Q05		$		%			6M04		6M05		$		%

EBITDA		990		1,159		170		17.1	%		1,853		2,186		333		18.0	%
Operating Profit		749		836		88		11.7	%		1,356		1,556		200		14.8	%

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CHIEF EXECUTIVE OFFICER REPORT
ANNEX 1

Operating Expenses

During the quarter, operating expenses grew 24.8% to Ps. 2.6 billion in 2Q05 from Ps. 2.1 billion in 2Q04. The increase in operating expenses was mainly the result of hiring and training of employees; door-to-door sales initiatives; increased operations from 137 net new stores; and higher advertising expenses from our new business units.

Comprehensive Cost of Financing

The commercial division comprehensive cost of financing for 2Q05 was Ps. 609.3 million, 59.9% higher when compared with the Ps. 381.1 million in 2Q04. The difference in the cost of financing is explained by:

1) A Ps. 330.5 million loss in equity swaps operations explained by the impact of the implementation of Mexican accounting Bulletin C-10 on the Company’s position in equity swaps. Bulletin C-10, “Derivative Financial Instruments and Coverage Operations” of Mexican GAAP states that realized and unrealized gains and losses on interest rate swaps and options, on foreign exchange options and forward contracts, are recognized in the income statement of the period and are included in the comprehensive cost of financing; and

2) An increase in FX losses of Ps. 147.3 million in the period.

These were partially offset by:

A Ps. 159.8 million decrease in interest expense resulting from a lower level of debt with cost this quarter largely due to the four years in advance redemption of the full amount of the 12% US$275 million Senior Notes due in 2008;

A Ps. 5.1 million increase in interest income; and

A Ps. 3.4 million increase in monetary gains.

On a proforma basis, excluding the Ps. 330.5 million loss in equity swaps operations, the comprehensive cost of financing in 2Q05 was Ps. 278.7 million, 7.0% lower compared with the proforma Ps. 299.7 million of 2Q04.

Operating Profit

During the quarter, operating income increased 11.7% despite a 30.8% growth in depreciation and amortization. The rise in D&A results from increased fixed assets in both the commercial and the financial divisions.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CHIEF EXECUTIVE OFFICER REPORT
ANNEX 1

Net Income

Our positive operating performance, coupled with a Ps. 276.3 million gain from our equity participation in Comunicaciones Avanzadas, partially offset by the increase in the comprehensive cost of financing, led to a net income of Ps. 351.5 million in 2Q05, 34.0% higher than the Ps. 262.3 million net income of 2Q04.

On a proforma basis, excluding the Ps. 330.5 million loss in equity swaps operations in the comprehensive cost of financing in 2Q05, net income for 2Q05 was Ps. 682.1 million, 98.5% higher when compared with the proforma Ps. 343.7 million of 2Q04.

CAPEX

Capital expenditures in the first half of 2005 were Ps. 593.3 million, principally due to our expansion and the purchases of communications equipment.

Cash and Cash Equivalents

Total cash and cash equivalents rose 89.0% to Ps. 17.9 billion in 2Q05 from Ps. 9.5 billion in 2Q04, comprised of a 48.8% increase to Ps. 4.2 billion from the commercial division and a 106.1% growth to Ps. 13.7 billion from the financial division in line with the increase in customer deposits.

Consolidated Gross Loan Portfolio

Total consolidated gross loan portfolio increased 75.6% to Ps. 13.6 billion in 2Q05 from Ps. 7.8 billion at the end of 2Q04. Collection rate for the credit portfolio remained at 97%.

Equity

Consolidated equity grew 10.4% to Ps. 7.9 billion in 2Q05 from Ps. 7.2 billion in 2Q04.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

CHIEF EXECUTIVE OFFICER REPORT

ANNEX 1

Company Profile
Grupo Elektra i Latin America’s leading speciality retailer, consumer finance and banking services company. Grupo Elektra sells retail goods and services through its Elektra, Salinas y Rocha, Bodega de Remates and Electricity 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 US Securities and Exchange Commission.

As used in this press release, EBITDA is operating income (loss) before interest expense, taxes, depreciation and amortization, and adjusted by eliminating monetary (loss) gain included in our revenues and cost, respectively. In accordance with Regulation G, issued by the U.S. Securities and Exchange Commission, reconciliation between net income and EBITDA is provided in the notes provided in our financial statements. EBITDA is presented because of the following reasons:

Our management uses EBITDA as a measure of performance business allowing us to compare ourselves with our peers’ multiples, ratios and margins derived from EBITDA. It also serves to evaluate and compensate certain employees.
We believe EBITDA is one of the tools that we can use to measure our cash-flow generation, because it excludes some non-cash items as monetary gains or losses, depreciation and amortization, etc.
EBITDA is also a measure contained in certain financial covenants of our debt, and consequently we are required to calculate it in order to verify compliance with such covenants.
We are aware that EBITDA has material limitations associated with its use, (i.e., EBITDA, as defined by us, excludes items such as Discontinued operations, and includes the Allowance for doubtful accounts, which contains or does not contain, respectively, portions of cash). However, our management compensates these material limitations with the use of our consolidated financial statements and its notes. We believe that EBITDA is used by certain investors as one measure of a company’s historical ability to service its debt.

EBITDA should not be considered in isolation or as a substitute for the consolidated income statements or the consolidated statements of changes in financial position prepared in accordance with Mexican GAAP (PCGA) or as a measure of profitability or liquidity. EBITDA is not (a) a measure determined under PCGA or U.S. GAAP, (b) an alternative to PCGA or U.S. GAAP operating income (loss) or net income (loss), (c) a measure of liquidity or cash flows as determined under PCGA or U.S. GAAP or (d) a measure provided in order to smooth earnings. EBITDA does not represent discretionary funds. EBITDA, as calculated by us, may not be comparable to similarly titled measures reported by other companies.

Grupo Elektra — Tradition with Vision
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.

Investor and Press Inquiries:
Esteban Galindez Director of Financial and R.I. Grupo Elektra S.A. de C.V. Tel. +52 (55) 1720-7819 Fax. +52 (55) 1720-7822
egalindez@elektra.com.mx
Bruno Rangel Director of Investor Relations Grupo Salinas Tel. +52 (55) 1720-9167 Fax. +52 (55) 1720-0831
irangelk@tvazteca.com.mx

MEXICAN STOCK EXCHANGE

SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.		Quarter: 2 Year: 2005

NOTES TO THE FINANCIAL STATEMENTS

ANNEX 2

NOTE 1 — COMPANY OPERATIONS:

The main activity of Grupo Elektra, S. A. de C. V. (“Grupo Elektra”) and its subsidiaries (the Company) is the sale of consumer electronics, major appliances, household furniture, telephones and computers, through a chain of 962 stores in Mexico and 79 in Guatemala, Peru and Honduras. The Company operates three store formats: Elektra, Salinas y Rocha and Bodega de Remates.

Additionally, the Company offers a series of financial products and services, the most important of which are granting of personal and consumer loans, receiving deposits and savings and investment accountants, as well as money transfer services from the United States to Mexico and within Mexico.

On July 18, 2003, Grupo Elektra acquired CIGNA Seguros, S.A. which was renamed Seguros Azteca, S.A. de C.V. (Seguros Azteca) and will offer life, accident and health insurance to the Company’s customers. The purchase did not include any insurance portfolio or any liabilities. Grupo Elektra received the approval from the Ministry of Finance and Public Credit (MFPC) to operate Seguros Azteca in February 2004.

In April 2002 Grupo Elektra received authorization from Mexico’s Finance Ministry (SHCP) to operate a Retirement Saving Fund Administrator, named Afore Azteca, S. A. de C. V. (Afore Azteca). It started operations at the beginning of July 2003.

Grupo Elektra received approval from the SHCP to incorporate Banco Azteca, S. A. de C. V., Institución de Banca Múltiple (BAZ), which began operations in the last quarter of 2002 and, at December 31, 2004, had established branches in the 930 Elektra and Salinas y Rocha stores and approximately 200 other branches in third party channels.

Before BAZ began operations, Elektrafin Comercial, S. A. de C. V. (Elektrafin), a wholly owned subsidiary, granted financing to the company’s customers to acquire merchandise at the Elektra and Salinas y Rocha stores. In December 2003, Elektrafin was merged into Elektra. Grupo Elektra received authorization by the Superintendent of Banks of Panama on November 24, 2004, resolution number SB-224-2004. As of December 31, 2004, it had not begun operations.

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

The financial statements of Banco Azteca, Afore Azteca and Seguros Azteca included in the consolidated financial statements have been prepared in accordance with the accounting criteria established by the Commission, which are the same as Mexican Generally Accepted Accounting Principles (Mexican GAAP).

Below is a summary of the most significant accounting policies, including the concepts, methods and criteria related to recognition of the effects of inflation on the financial information:

a. Recognition of the effects of inflation

The accompanying consolidated financial statements have been prepared in accordance with Mexican GAAP and are expressed in constant pesos with purchasing power as of December 31, 2004, in accordance with the following policies:

Inventory and cost of sales are restated by using the replacement cost method.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA GRUPO ELEKTRA, S.A. DE C.V.				Quarter: 2 Year: 2005

NOTES TO THE FINANCIAL STATEMENTS

ANNEX 2

Property, furniture, equipment, investment in stores, minority investments in shares, goodwill and the components of shareholder equity are restated by applying factors derived from the Mexican National Consumer Price Index (INPC).

The gain on monetary position represents the profit from inflation, as measured by the INPC, on the monthly net monetary liabilities and assets during the year, restated to pesos with purchasing power as of the end of last year.

The result from holding non-monetary assets represents the increase of the restated value of these assets, applying specific costs above or below inflation measured in terms of the INPC, and is included in the insufficiency in the restatement of capital.

b. Principles of consolidation

The consolidated financial statements include those of the Company and all of its controlled subsidiaries. All intercompany balances and operations have been eliminated in the consolidation.

c. Investments Securities

The Company considers all highly liquid investments with maturity of less than three months to be cash equivalents.

Investments in securities are classified by Company management according to their intended use: available for sale, business purposes or held to maturity. The classification is determined at the time the securities are acquired.

Trading securities are initially recorded at their acquisition cost, plus yields generated, calculated in accordance with the straight-line method. As of the balance sheet date, trading securities are stated at their net realizable value, based on their estimated market value, determined based on processed price vectors, published by an authorized pricing expert authorized by the Commission. Unrealized gains and losses are recognized in the statements of income of the year.

d. Loan portfolio

The balance of the loan portfolio is represented by the amounts actually granted to borrowers, plus uncollected accrued interest and deducted from interest collected in advance and from the allowance for credit losses.

Loans are considered past due for their total unpaid balance, when interest or installment payments are not received within the terms shown below:

	•		Loans with a single payment of principal and interest 30 days or more past due.

	•		Loans with a single payment of principal at due date and periodic interest payments 90 days or more past due on interest
			payments or 30 days or more past due on the payment of principal.

	•		Loans with installments on the principal and interest, at 90 days or more in arrears.

	•		Revolving loans if there are two monthly billing periods, or 60 or more days past due.

	•		Mortgage loans, when principal and interest payments are 90 days or more past due.

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

NOTES TO THE FINANCIAL STATEMENTS

ANNEX 2

e. Allowance for doubtful accounts

The Company has created reserves in accordance with expected losses, based on historical experience. The calculation of this reserve was performed following the methodology utilized by Elektrafin, a Company that granted loans until 2002, and which merged with Elektra in 2003 before BAZ began operations, which consisted of increasing the allowance for doubtful accounts for each credit sale.

f. Inventories and cost of sales

Inventories and cost of sales are originally determined by the average cost method and are restated and value of inventories so determined do not exceed current market value.

g. Property, furniture, equipment and investment in stores

Real estate, furniture and equipment are expressed at cost of acquisition and are restated. Investment in stores represents expenditures necessary to prepare the stores operated by the Company, and is restated.

Depreciation is calculated by the straight-line method, based on the estimated useful lives of the assets. Amortization of investment in stores is calculated by the straight-line method over periods not exceeding five years.

The company conducts a major part of its operations from leased facilities, which include more than 1,000 stores, nine distribution centers and the building housing the company’s headquarters. These facilities are under operating leases that expire over the next nine years. Most of the leases are renewable for periods of three to five years.

Some of the rental payments on store facilities are based on a minimum rental and a percentage of the store’s sales (contingent rentals). In most cases, management expects leases to be renewed or replaced by other properties.

h. Investments in shares

The investment in CASA is accounted for by the equity method. The equity in the results of CASA is shown in the consolidated statements of income.

Other investments in non-marketable equity securities in which the Company’s interest is less than 10% are stated originally at cost, and restated.

In accordance with the accounting provisions of Bulletin C-15, “Impairment in the Value of Long-Lived Assets and Their Disposal”, of Mexican Generally Accepted Accounting Principles, the value of the shares in permanent investments is subject to tests of impairment in those cases where the value of the use is less than the accounting value. The difference is the impairment of goodwill.

i. Goodwill

As of June 30, 2005, the balance of goodwill presented in the balance sheets only corresponds to CASA.

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

NOTES TO THE FINANCIAL STATEMENTS

ANNEX 2

j. Demand and term deposits

BAZ liabilities for this concept are composed of demand and term deposits, which are represented by concentrated, savings and investment accounts, as well as notes with yields payable on maturity. These liabilities are recorded at capture or placement costs plus accrued interest determined by days transpired as of the monthly close. These are charged to the results.

k. Income tax and employees’ statutory profit sharing

The Company recognizes the effects of deferred taxes by applying the income tax rate to all differences between the book and tax values of assets and liabilities, and considering tax-loss carry-forwards and asset tax recoverable likely to be obtained.

Deferred employees’ statutory profit sharing (ESPS) is determined considering the non-recurring temporary differences between the book profit and the taxable distribution base determined under Income Tax Law for ESPS purposes.

l. Labor obligations

Seniority premiums, to which employees are entitled to upon termination of employment after 15 years of service, as well as obligations under retirement plans established by the Company’s subsidiaries for their employees, to which they do not contribute, are recognized as costs of the years in which the services are rendered through contributions to irrevocable trust funds, based on actuarial studies.

Other seniority-based compensation, to which employees may be entitled in the event of dismissal or death, in accordance with the Mexican Federal Labor Law, is charged to results in the year in which it becomes payable.

m. Review of the values of long-lived assets

The Company periodically evaluates the recovery value of its tangible and intangible long-lived assets, including goodwill, based on future flows from its two cash-generating units (sales and credit). If the accounting value of the assets exceeds the use value (discounted flows) a loss from impairment of these assets is recognized.

The procedure and criterion used by the Company are in agreement with the provisions established in Bulletin C-15, “Impairment in the Value of Long-Lived Assets and Their Disposal”, of Mexican Generally Accepted Accounting Principles, issued in March 2003.

n. Transactions in foreign currencies and translation of foreign operations

Transactions in foreign currencies are recorded at the exchange rates prevailing on the dates on which they are entered into. Assets and liabilities denominated in these currencies are stated at Mexican peso equivalents current as of the date of the balance sheet. Exchange differences arising from fluctuations in the exchange rates between the dates on which transactions are entered into and those on which they are settled or valued at the close of the year are applied to the results.

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

NOTES TO THE FINANCIAL STATEMENTS

ANNEX 2

o. Earnings per share

Earnings per share is calculated by dividing the consolidated net income by the weighted average number of shares outstanding. Diluted earnings per share reflects the potential dilution that could occur if share and other contracts related to issuing shares were exercised or converted, resulting in the issuance of additional shares, which would participate in Grupo Elektra profit-sharing.

p. Derivative financial instruments

Beginning in 2004, the effects of operations with derivative financial instruments indexed to Company’s own shares are recognized in the statement of income as income or expense, and those resulting from interest rate coverage instruments are recognized in the comprehensive income, both at their fair value as of December 31 of each year.

Until December 31, 2003 profits and losses from derivative financial operation contracts were recorded within the premium for placement of shares because it dealt with operations with the Company’s own shares. Until December 31, 2003, interest paid, as well as dividends on shares involved in these operations, were recorded in the statement of income of the years in which they were carried out.

Beginning in 2004, the Company chose early adoption of Bulletin B-10, “Derivative Financial Instruments and Coverage Operations” of Mexican Generally Accepted Accounting Principles.

Valuation of interest rate futures purchase operations at the end of the year carried out by BAZ are presented in the balance sheet in net form, together with the primary position whose risk is being covered. That is, within demand deposits.

q. Comprehensive income

Comprehensive income includes the net income for the year, plus any items which, in accordance with Mexican Generally Accepted Accepted Accounting Principles, must be recorded directly in the shareholder equity and are not capital contributions or reductions.

r. Revenue recognition

The Company recognizes revenue on sales when goods are delivered to customers.

Interest is recognized as income when accrued, applying the straight-line method. However, recognition of interest is suspended at the time when loans are reclassified to the past due portfolio. With respect to uncollected ordinary accrued interest corresponding to loans classified to the past due portfolio, an estimate is created for an amount equivalent to the total amount at the time the loan is reclassified to the past-due portfolio. Accrued interest (late) during the period in which the loan is classified to the past due portfolio is not recognized as income until it is actually collected.

Revenues from money transfer services represent the commissions paid by Western Union to Elektra arising from money transfers collected in BAZ located in Elektra and SyR stores and third party channels, plus the Company’s share of the foreign exchange gain, as well as commissions paid by Elektra’s customers for money transfers within Mexico. Both types of commissions are recorded when services are provided.

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

NOTES TO THE FINANCIAL STATEMENTS
ANNEX 2

Revenues from extended warranty sales are recorded as deferred credits on the date the contracts are sold, and are applied applied to income using the straight-line method over the terms of the extended warranties (from two to five years).

Income from the sale of life insurance policies are recorded at the time the policies are issued, and are decreased by the premiums paid for reinsurance.

s. Presentation of revenues and costs

In order to compare Company income and costs, income is presented including merchandise sales and accrued and late interest, decreased by the loss from monetary position on the loan portfolio. Similarly, costs include the cost of sales of the merchandise, allowances for bad debt and interest charged to accounts payable labeled deposits, decreased by the profit on monetary position corresponding to the deposits. Other interest earned or paid is classified as part of the comprehensive cost of financing.

t. Use of estimates

Preparation of financial statements in accordance with Mexican Generally Accepted Accounting Principles requires that management make estimates that affect the amounts reported in the financial statements. Actual results could differ from those estimates.

u. Reclassifications

Certain amounts from the previous period have been reclassified in order to conform the presentation of the current financial statements.

v. Reconciliation between net income and EBITDA


	2Q05			2Q04			2005			2004
Reported net income		351.5			262.3			870.4			845.9


Add (substract) the following items:
Minority interest		—			0.0			—			0.4
Extraordinary item		—			—			—			—
Equity in (income) loss of affiliated companies		(276.3	)		0.9			(288.0	)		0.6
Tax provision		151.5			104.5			258.0			193.0
Comprehensive financing cost		609.3			381.1			715.6			316.6
Depreciation and amortization		323.8			247.5			630.5			498.1
Monetary loss recorded on revenues		—			—			—			—
Monetary gain recorded on cost		(0.5	)		(6.4	)		(0.2	)		(1.0	)

		807.9			727.6			1,315.8			1,007.7


EBITDA		1,159.4			989.9			2,186.2			1,853.6

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA						Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

BREAKDOWN OF INVESTMENT IN SHARES
(Thousands of Mexican Pesos)
ANNEX 3


NAME OF THE			MAIN	NUMBER		% OF		TOTAL AMOUNT
COMPANY			ACTIVITIES	OF SHARES		OWNWERSHIP		Acquisition		Current
								Cost		Value

ASSOCIATED COMPANIES

	1	COMUNICACIONES AVANZADAS, S.A. DE C.V.	HOLDING COMPANY		371,853		35.84		260,538		944,446
	2	TV AZTECA, S.A. DE C.V.	HOLDING COMPANY		7,522,716		0.40		7,523		41,701
	3	BANCO AZTECA (PANAMA)	FINANCIAL SERVICES		1,000		100.00		112,400		113,271
	4	OTRAS ASOCIADAS	NINETEEN		1		—		100,866		111,975



TOTAL INVESTMENT IN ASSOCIATED COMPANIES									481,327		1,211,393



OTHER PERMANENT INVESTMENTS											—



TOTAL											1,211,393

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

BANK DEBT BREAKDOWN
(Thousands of Mexican Pesos)
ANNEX 5

Credit Type /

Amortization

Interest

Denominated in Pesos

Amortization of credits in foreign crrency with foreign institutions

Institution

Date

Rate

Until 1 year

More than

Current

Until

1 year

Year

1 year

2 years

3 years

4 years

5 years

UNSECURED DEBT

BANCO DE MEXICO, S.A.

5/30/2009

8.29

2,068,006

TOTAL

—

2,068,006

—

STOCK MARKET DEBT

STOCK MARKET CERTIFICATES

2/23/2006

12.02

400,000

STOCK MARKET CERTIFICATES

5/10/2006

12.22

600,000

NACIONAL FINANCIERA, S.N.C.

3/9/2012

12.69

2,600,000

ACCRUED INTEREST

7/14/2005

15,593

TOTAL

1,015,593

2,600,000

—

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

CREDITS BREAKDOWN

ANNEX 5

Credit Type /

Amortization

Interest

Denominated in Pesos

Amortization of credits in foreign currency with foreign institutions

Institution

Date

Rate

Until 1 year

More than

Current

Until

1 year

Year

1 year

2 years

3 years

4 years

5 years

SUPPLIERS

FACTORING

950,976

LG ELECTRONICS MEXICO, S.A. DE C.V.

28/09/2005

471,776

MABE EXPORT SA DE CV

13/10/2005

459,232

SAMSUNG ELECTRONICS MEXICO, S.A. DE C.V.

28/09/2005

356,472

SONY DE MEXICO S.A DE C.V

30/07/2005

279,831

WHIRLPOOL MEXICO, S.A. DE C.V.

08/10/2005

269,113

DAEWOO ELECTRONICS CORPORATION DE MEXICO, S.A. DE C.V.

13/09/2005

227,910

PANASONIC DE MEXICO, S.A. DE C.V.

28/08/2005

169,440

OTROS

83,898

MULTITRADE INTERNATIONAL SA DE CV

30/07/2005

56,586

BRIGHTSTAR DE MEXICO S.A. DE C.V.

21/09/2005

54,731

PHILIPS MEXICANA, S.A. DE C.V.

14/08/2005

51,209

KOBLENZ ELECTRICA, S.A. DE C.V.

29/08/2005

42,465

GTW DE MEXICO S. DE R.L. DE C.V.

14/07/2005

38,141

IMPCO S. DE R.L. DE C.V.

29/08/2005

29,652

MAYTAG COMERCIAL S DE R.L. DE C.V.

07/10/2005

26,447

INDUSTRIAS MAN DE MEXICO SA.CV

29/08/2005

24,889

SUMBEAM MEXICANA, S.A. DE C.V.

27/08/2005

24,864

GRUPO KUCHEN MEISTER SA DE CV

30/07/2005

23,320

LONCIN GROUP IMPORT AND EXPORT CO L

29/08/2005

21,178

AVATAR TECHNOLOGY INC.

14/08/2005

18,913

BICICLETAS MERCURIO, S.A. DE C.V.

05/09/2005

16,746

APPLICA DE MEXICO S DE RL DE CV

13/09/2005

16,649

FASTEL S.A. DE

29/08/2005

15,934

HEWLETT-PACKARD MEXICO, S. DE R.L. DE C.V.

14/08/2005

14,883

BICICLO, S.A. DE C.V.

25/09/2005

14,535

CARRIER MEXICO SA CV

28/09/2005

14,067

SOLUCIONES INTELIGENTES PARA EL

29/08/2005

13,927

IND. LENNOX DE MEX. S.A DE C.V

8/29/2005

12,686

SHARP ELECTRONICS CORPORATION

8/29/2005

11,836

KOBE ELECTRONICS GROUP

7/30/2005

11,587

PROGRESSIVE TELECOM DE MEXICO

7/5/2005

10,309

EKCO SA

9/1/2005

10,222

BROTHER INTERNATIONAL DE MEXICO, S.A. DE C.V.

8/14/2005

9,493

PIONEER ELECTRONICS DE MEXICO

9/6/2005

9,487

PETTERS CONSUMER BRANDS MEXICO S. DE R.L. DE C.V.

8/21/2005

9,410

YORK INTERNACIONAL SA DE CV

9/27/2005

8,596

SPRING AIR MEXICO,S.A. DE C.V.

7/5/2005

8,519

JVC DE MEXICO SA DE CV

9/1/2005

8,394

DISTRIBUIDORA DE PRODUCTOS SINGER

9/4/2005

7,735

FUJIFILM DE MEXICO, S.A. DE C.V.

8/14/2005

7,381

AZTECAS RECORDS SA DE CV

7/29/2005

7,325

INDUSTRIAS D K, S.A. DE C.V.

7/6/2005

6,850

GRUPO BLER DE MEXICO,S.A. DE C.V.

9/13/2005

6,627

NOKIA DE MEXICO SA DE CV

7/30/2005

6,487

BSH ELECTRODOMESTICOS, S.A. DE C.V.

8/5/2005

6,104

BUSH INDUSTRIES DE MEXICO SA DE CV

8/9/2005

6,043

LATINOAMERICA

152,292

TOTAL SUPPLIERS

3,952,875

—

152,292

—

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005

GRUPO ELEKTRA, S.A. DE C.V.

CREDITS BREAKDOWN

ANNEX 5

Credit Type /

Amortization

Interest

Denominated in Pesos

Amortization of credits in foreign crrency with foreign institutions

Institution

Date

Rate

Until 1 year

More than

Current

Until

1 year

Year

1 year

2 years

3 years

4 years

5 years

OTHER LIABILITIES

OTHER

23,524,262

179,914

OTHER CURRENT LIABILITIES AND OTHER CREDITS

23,524,262

—

179,914

—

28,492,730

4,668,006

332,206

—

NOTES:

THE EXCHANGE RATES PER USD USED WERE:

MEXICAN PESOS

10.77

LEMPIRAS

19.00

QUETZALES

7.62

SOLES

3.25

MEXICAN STOCK EXCHANGE
SIFIC / ICS



STOCK EXCHANGE CODE: ELEKTRA	Quarter: 2	Year:	2005

GRUPO ELEKTRA, S.A. DE C.V.

MONETARY POSITION IN FOREIGN EXCHANGE
(Thousands of Mexican Pesos)
ANNEX 6

FOREIGN MONETARY POSITION

U.S. DOLLARS

OTHER CURRENCIES

TOTAL

Thousands

THOUSANDS

of U.S. Dollars

of Pesos

of U.S. Dollars

of Pesos

OF PESOS

TOTAL ASSETS

270,640

2,914,790

44,399

478,178

3,392,968

TOTAL LIABILITIES

1,284

13,827

29,562

318,379

332,206

SHORT-TERM LIABILITIES

1,284

13,827

29,562

318,379

332,206

LONG-TERM LIABILITIES

—

NET BALANCE

269,356

2,900,963

14,837

159,799

3,060,762

NOTES:

THE EXCHANGE RATES PER USD USED

WERE:

MEXICAN PESOS

10.77

LEMPIRAS

19.00

QUETZALES

7.62

SOLES

3.25

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

INTEGRATION AND INCOME CALCULATION BY MONETARY POSITION
(Thousands of Mexican Pesos)
ANNEX 7


	MONETARY		MONETARY		MONETARY		MONTHLY			GAIN
MONTH	ASSETS		LIABILITIES		POSITION		INFLATION			(LOSS)
JANUARY		5,127,578		7,434,039		2,306,460		0.00			82
FEBRUARY		5,163,416		7,458,549		2,295,132		0.33			7,647
MARCH		5,199,033		7,470,433		2,271,401		0.45			10,238
APRIL		5,133,013		9,596,668		4,463,655		0.36			15,897
MAY		6,297,562		8,091,560		1,793,998		(0.25	)		(4,507	)
JUNE		6,400,460		8,088,085		1,687,625		(0.10	)		(1,620	)
						—
						—
						—
RESTATEMENT						—					(66	)
CAPITALIZATION						—					—
FOREIGN CORP.						—					—
OTHER						—					—

TOTAL											27,671

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

BONDS AND MEDIUM TERM NOTES LISTED IN STOCK MARKET
ANNEX 8

FINANCIAL LIMITATIONS IN ACCORDANCE WITH INDENTURES

NOT APPLICABLE

CURRENT SITUATION OF FINANCIAL LIMITATIONS

NOT APPLICABLE

BONDS AND/OR MEDIUM-TERM NOTES CERTIFICATE

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

PLANTS, COMMERCE CENTERS OR DISTRIBUTION CENTERS
ANNEX 9

PLANT OR

ECONOMIC

PLANT

UTILIZATION

CENTER

ACTIVITY

CAPACITY

NOT APPLICABLE

NOTES:
THIS NOTE DOES NOT APPLY BECAUSE THE COMPANY DOES NOT HAVE ANY PLANTS OR PRODUCTION FACILITIES, AND ITS ACTIVITY IS PERFORMED THROUGH ITS MORE THAN 1000 BRANCHES (MOST OF THEM ARE LEASED), LOCATED THROUGHOUT MEXICO, CENTRAL AND SOUTH AMERICA.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

MAIN RAW MATERIALS

ANNEX 10

COST OF

MAIN

PRODUCTION

DOMESTIC

SUPPLIERS

IMPORTED

SUPPLIERS

DOMESTIC

(%)

NOT APPLICABLE

NOTES:
THIS NOTE DOES NOT APPLY BECAUSE THE COMPANY ONLY COMMERCIALIZES FINISHED GOODS AND DOES NOT HAVE ANY PRODUCTION PROCESS.

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

SALES DISTRIBUTION BY PRODUCT
DOMESTIC SALES
ANNEX 11


MAIN	TOTAL PRODUCTION		NET SALES				MARKET	MAIN
PRODUCTS	VOLUME	AMOUNT	VOLUME		AMOUNT		SHARE (%)	TRADEMARKS	COSTUMERS
MARK-UP						3,593,505
VIDEO				1,069		1,894,653
INTEREST INCOME INVESTMENTS						1,141,615
TELEPHONES				600		909,262
AUDIO				516		824,628
WASHERS AND DRYERS				249		722,279
REFRIGERATORS				205		710,711
OTHER				—		559,406
STOVES AND GRILLS				318		553,618
COMPUTERS				121		351,294
LIVING ROOM FURNITURE				70		323,633
MATTRESSES				234		320,565
DINING ROOM FURNITURE				116		254,958
MONEY TRANSFERS				—		242,289
AIR CONDITONERS				206		214,247
BEDS AND BUNK BEDS				106		189,094
BYCICLES				149		169,839
SMALL APPLIANCES				709		158,604
ENTERTAINMENT GAMES				58		115,527
EXTENDED WARRANTIES				—		99,753
SEWING MACHINES				44		65,189
MOTORCYCLES				6		62,131
PHOTO DEVELOPING				420		20,311
TABLES				16		17,921
BEDROOM FURNITURE				4		15,673
DINING SETS				5		12,720
KITCHENS				1		4,803
BOOKCASES				3		4,069
CUPBOARDS				15		3,898
FOOD				1		3,260
BUSINESS				1		1,414
TOOLS				1		1,242
TYPEWRITING MACHINES				1		1,184
BOX SPRING				2		1,160
CHAIRS				1		1,090
BIPERS				—		607
VACUUM CLEANERS				—		206
WARDROBES				—		131
TRANSPORTATION				1		48

TOTAL				5,248		13,566,537

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

SALES DISTRIBUTION BY PRODUCT
FOREIGN SALES
ANNEX 11

MAIN

TOTAL PRODUCTION

NET SALES

MAIN

PRODUCTS

VOLUME

AMOUNT

VOLUME

AMOUNT

DESTINATION

TRADEMARKS

COSTUMERS

SALES

957,835

LATIN AMERICA

MONEY TRANSFERS

3,693

UNITED STATES

PENALTY INTEREST

292,849

LATIN AMERICA

EXTENDED WARRANTIES

10,445

LATIN AMERICA

TOTAL

1,264,822

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

ANALYSIS OF CAPITAL STOCK

FEATURES OF THE COMMON SHARES

NUMBER OF SHARES

CAPITAL STOCK

FACE

CURRENT

FIXED

VARIABLE

FREE

(Thousands of Pesos)

SERIES

VALUE

COUPON

PORTION

MEXICAN

SUBSCRIPTION

FIXED

VARIABLE

ONLY

2.30500

—

240,588,007

78,222,947

162,365,060

545,630

TOTAL

240,588,007

—

78,222,947

162,365,060

545,630

TOTAL NUMBER OF SHARES REPRESENTING THE PAID-IN CAPITAL STOCK AT THE DATE OF REPORTING :
240,588,007

SHARES PROPORTION BY:
                    CPOSs:
                    UNITS:
                    ADRs:
                    GDRs:
                    ADSs:
                    GDSs:

REPURCHASED OWN SHARES

NUMBER

AVERAGE COST

MARKET PRICE

SERIES

OF SHARES

OF REPURCHASE

AT END OF QUARTER

ONLY

9,291,200

75.08061

80.00000

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

PROJECTS INFORMATION
ANNEX 13

NOT APPLICABLE

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

TRANSACTIONS IN FOREIGN CURRENCY AND TRANSLATION OF FINANCIAL STATEMENTS OF FOREIGN SUBSIDIARIES
Information related to Statement B-15
ANNEX 14

NOT APPLICABLE

MEXICAN STOCK EXCHANGE
SIFIC / ICS


STOCK EXCHANGE CODE: ELEKTRA		Quarter: 2 Year: 2005
GRUPO ELEKTRA, S.A. DE C.V.

DECLARATION OF THE DIRECTORS OF THE COMPANY RESPONSIBLE FOR THE INFORMATION

We declare under oath that we state the truth that, between our respective functions, we prepare the relative information of the issuer found in this present quarterly financial information report that, between our loyal knowledge and understanding, reflects on a reasonable manner its situation. In the same manner, we state that we do not have any knowledge of relevant information being omitted or stated wrongfully in the present quarterly financial information report or that the same report contains false information that that could mislead investors.




LIC. JAVIER SARRO CORTINA		ING. RODRIGO PLIEGO ABRAHAM
CHIEF EXECUTIVE OFFICER		CHIEF FINANCIAL OFFICER

MEXICO CITY AT JULY 25, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, there unto duly authorized.

Dated: July 28, 2005.

GRUPO ELEKTRA, S.A. de C.V.
(Registrant)

/s/ Rodrigo Pliego Abraham

Rodrigo Pliego Abraham
Chief Financial Officer

GRUPO ELEKTRA SA DE CV 6-K