160th Hypermarket Opening

Press-release Krasnodar December 24, 2013 OJSC "Magnit" Announces the Opening of the 160th Hypermarket Krasnodar, December 24, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the160th hypermarket of a small format. Please be informed that today the Company has opened its 160th hypermarket of asmall format located at 105a Kalinina street ("Mega Mall" shopping center),Cheboksary, Chuvash Republic, Volga federal district. Assortment of thehypermarket consists of more than 6,500 SKUs, out of which about 82% are fooditems. There are 15 cash desks installed in the sales area. The outlet isleased by the Company. The hypermarket is open 7 days a week from 8 am to 11pm. For further information, please contact: Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x7600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 Dina Svishcheva Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x5101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of September 30,2013, Magnit operated 19 distribution centers and over 7,600 stores (6,783convenience, 178 hypermarkets, and 685 cosmetics) in more than 1,760 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with its reviewed IFRS consolidated financial statements, Magnithad 1H 2013 revenues of $8.7 billion USD and an EBITDA of $890 million USD.Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB. Measured by market capitalization, Magnit is nowEurope's 2nd largest food retailer.