165th Hypermarket and 50th "Magnit Family" Store Opening

Press-release Krasnodar March 27, 2014 OJSC "Magnit" Announcesthe Opening ofa NewHypermarket and a "Magnit Family" Krasnodar, March 27, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of a newhypermarket and a "Magnit Family". Please be informed that today the Company has opened its 165th hypermarket and50th "Magnit Family" store. The 165th hypermarket (small format) is located at 27A Tereshkovoy street,Dzerzhinsk, Nizhny Novgorod region, Volga federal district. Assortment of thehypermarket consists of about 9,900 SKUs, out of which about 75% are fooditems. There are 19 cash desks installed in the sales area. The outlet is ownedby the Company. From March 27, 2014 till May 25, 2014 the hypermarket is open 7days a week from 9 am to 10 pm. Starting from May 25, 2014 the working hourswill be from 9 am to 11 pm. The 50th "Magnit Family" store is located at 69, Yuzhnaya street, PavlovskyPosad, Moscow region, Central federal district. Assortment of the storeconsists of more than 5,500 SKUs, out of which about 89% are food items. Thereare 13 cash desks installed in the sales area. The outlet is owned by theCompany. The hypermarket is open 7 days a week from 9 am to 11 pm. For further information, please contact: Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 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 x 15101 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 December 31,2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financial statements for 2013,Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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 oneof the largest retailers in Europe.