168th Hypermarket Opening

Press-release Krasnodar May 28, 2014 OJSC "Magnit" Announcesthe Opening ofthe 168th Hypermarket Krasnodar, May 28, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the168th hypermarket of a small format. Please be informed that today the Company has opened its 168th hypermarket of asmall format located at 16A neighborhood unit, Snezhinsk, Chelyabinsk region,Urals federal district. Assortment of the hypermarket consists of about 9,300SKUs, out of which about 72% are food items. There are 19 cash desks installedin the sales area. The outlet is owned by the Company. The hypermarket is open7 days a week from 9 am to 10 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 food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of March 31, 2014,Magnit operated 23 distribution centers and over 8,200 stores (7,341convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 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.