20th "Magnit Family" Store Opening

OJSC MAGNIT - 20th "Magnit Family" Store Opening

PR Newswire

London, December 26

OJSC "Magnit" Announces the Opening of the 20th "Magnit Family" Store

Krasnodar, December 26, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) is pleased to announce the opening of the 20th "Magnit Family" store.

Please be informed that today the Company has opened its 20th "Magnit Family"store located at 64A Fridrikha Engelsa street ("Atmosphera" shopping center),Voronezh, Central federal district. Assortment of the store consists of morethan 5,600 SKUs, out of which about 87% are food items. There are 13 cash desksinstalled in the sales area. The store is open 7 days a week from 10 am to 10pm.

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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 September 30, 2012 the chainconsisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family"stores and 480 cosmetics stores (drogerie) in 1,504 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 September 30, 2012 Magnit operated an in-house logistics systemconsisting of 17 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.