128th Hypermarket Opening

OJSC MAGNIT - 128th Hypermarket Opening

PR Newswire

London, February 28

OJSC "Magnit" Announcesthe Opening of the 128th Hypermarket

Krasnodar, February 28, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) is pleased to announce the opening of the 128th hypermarket of a smallformat.

Please be informed that today the Company has opened its 128th hypermarket of asmall format located at 20a Hanty-Mansiyskaya street, Nizhnevartovsk,Khanty-Mansiysk autonomous district - Yugra, Urals federal district. Assortmentof the hypermarket consists of more than 10,500 SKUs, out of which about 75%are food items. There are 19 cash desks installed in the sales area. Thehypermarket is open 7 days a week from 9 am to 11 pm.

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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 December 31, 2012 the chainconsisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family"stores and 692 cosmetics stores (drogerie) in 1,605 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 December 31, 2012 Magnit operated an in-house logistics system consistingof 18 distribution centers, employing automated stock replenishment systems anda fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnitrecorded consolidated revenues of approximately $14,430 million USD and aconsolidated EBITDA of $1,524 million USD.