115th "Magnit Family" Store Opening

PJSC MAGNIT - 115th "Magnit Family" Store Opening

PR Newswire

London, July 27

Press-release

Krasnodar

July 27, 2015

PJSC “Magnit” Announces the Opening of the 115th “Magnit Family” Store

Krasnodar, July 27, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the 115th “Magnit Family” store.

Please be informed that on July 25, 2015 the Company opened its 115th “Magnit Family” store located at Stasova / Sormovskaya streets (“Media-Plaza” shopping center), Krasnodar, Southern federal region. Assortment of the store consists of more than 9,000 SKUs, out of which about 87% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 10 am to 9 pm.

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Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.