172nd Hypermarket Opening

Press-release Krasnodar August 29, 2014 OJSC "Magnit" Announces the Opening of the 172nd Hypermarket Krasnodar, August 29, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the172nd hypermarket of a small format. Please be informed that today the Company has opened its 172nd hypermarket of asmall format located at Rovio street, Petrozavodsk, Republic of Karelia,North-Western federal district. Assortment of the hypermarket consists of about12,500 SKUs, out of which about 78% are food items. There are 19 cash desksinstalled in the sales area. The outlet is owned by the Company. Thehypermarket 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 food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand towns 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.