6-K

FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of July 2005

Commission File Number1-13200 

Grupo Elektra, S.A. de C.V.
(Translation of registrant's name into English)
 

Av. Insurgentes Sur 3579
Col. Tlalpan La Joya 14000 Mexico, D.F.
  (Address of principal executive offices)

 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 if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

Note:    Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant 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- ________

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, thereunto duly authorized.

Grupo Elektra, S.A. de C.V.

              (Registrant)

Date:   July 1, 2005

By:   /S/  RAFAEL MARTÍNEZ DE ITA

Name:  Rafael Martínez de Ita

Title:  General Counsel and Secretary of the Board of Grupo Elektra (not a member of the Board).

EX-99

Exhibit

Grupo Elektra Press Release

Mexico City, July 1, 2005 -- Grupo Elektra S.A. de C.V. ("The Company"; BMV: ELEKTRA*; NYSE: EKT; Latibex: XEKT), Latin America's leading specialty retailer, consumer finance and banking and financial services company announced today that it has submitted a Form 12b-25 to the U.S. Securities and Exchange Commission for late filing of its Annual Report on Form 20-F for the year ended December 31, 2004.

 The Company was not able to file its Annual Report on time because Castillo Miranda y Compañía, S.C is in the process of performing the procedures necessary to permit it to issue its independent auditor's report. As was announced in October 2004, the company's board of directors appointed Castillo Miranda y Compañía, S.C. as the new independent auditing firm for Grupo Elektra, replacing PriceWaterhouseCoopers. 

 The Company noted that, on June 30, 2005, it filed its Spanish-language annual report with the Mexican National Securities and Banking Commission as required under Mexican law.  That report included Grupo Elektra's audited consolidated 2004 financial statements prepared in accordance with Mexican GAAP and certified by Castillo Miranda y Compañía, S.C.  Grupo Elektra expects to complete an English translation of that report promptly and furnish it to the U.S. Securities and Exchange Commission on Form 6-K.  Grupo Elektra cannot reasonably estimate when it will be in a position to file its Annual Report on Form20-F for 2004.

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.

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.

Contact:
Esteban Galíndez, CFA
Director of Finance and I.R.
Grupo Elektra S.A. de C.V.
Tel. +52 (55) 1720-7819
Fax. +52 (55) 1720-7822
egalindez@elektra.com.mx

 Exhibit

Grupo Elektra Press Release

Trading of Grupo Elektra GDSs on the New York Stock Exchange
Expected to be Suspended on August 1, 2005

Mexico City, July 1^st, 2005 -- Grupo Elektra S.A. de C.V. ("The Company"; BMV: ELEKTRA*; NYSE: EKT; Latibex: XEKT), Latin America's leading specialty retailer, consumer finance and banking and financial services company announced that, effective June 30, 2005, The Bank of New York (BoNY) gave notice of the termination of Grupo Elektra's GDS program to the holders of Grupo Elektra's Global Depositary Shares (GDSs).  Upon such notice of termination, BoNY discontinued issuing new GDSs, by filing a Post-Effective Amendment to Form F-6 with the United States Securities and Exchange Commission.  Additionally, the deposit agreement was amended to reduce to 60 days the period during which holders may exchange GDSs for common shares traded on the Mexican Stock Exchange (BMV).

As was previously announced, 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 to continue to be listed in the U.S. capital markets.

Pursuant to the termination of the deposit agreement, the NYSE is expected to suspend trading of the GDSs in the United States on or about August 1, 2005.  GDS holders will have 60 days to exchange their GDSs for common shares traded on the BMV.  Upon the expiration of the 60-day period, 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.

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.

 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.

 Contact: Esteban Galíndez, CFA
Director of Finance and I.R.
Grupo Elektra S.A. de C.V.
Tel. +52 (55) 1720-7819
Fax. +52 (55) 1720-7822
egalindez@elektra.com.mx