115th Hypermarket Opening

Press-releaseKrasnodarDecember 12, 2012

OJSC "Magnit" announces the opening of the 115th hypermarket

Krasnodar, December 12, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) is pleased to announce the opening of the 115th hypermarket of a smallformat.

Dear Ladies and Gentlemen!We are glad to inform you that today the Company has opened its 115thhypermarket of a small format located at 162 Sovetskaya street ("Stroydvor"shopping center), Magnitogorsk, Chelyabinsk region, Urals federal district.Assortment of the hypermarket consists of more than 8,200 SKUs, out of whichabout 77% are food items. There are 15 cash desks installed in the sales area.The hypermarket is open 7 days a week from 9 am to 11 pm.

For further information, please contact:

Oleg Goncharov Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54,210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 Company description:Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT) is the holding company for a group of entities that operate in the retailtrade under the "Magnit" brand. The chain of "Magnit" stores is one of theleading food retail networks in Russia. As of September 30, 2012 the chainconsisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family"stores and 480 cosmetics stores (drogerie) in 1,504 cities and towns throughoutthe Russian Federation.Approximately two-thirds of the Magnit's stores are located in cities with apopulation of less than 500,000 inhabitants. Most of its stores are located inthe Southern, North-Caucasian, Central and Volga regions. The Company alsooperates stores in the North-Western, Urals and Siberian regions.

As of September 30, 2012 Magnit operated an in-house logistics systemconsisting of 17 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.