22nd "Magnit Family" Store Opening

OJSC MAGNIT - 22nd "Magnit Family" Store Opening

PR Newswire

London, April 19

OJSC "Magnit" Announces the Opening of the 22nd "Magnit Family" Store

Krasnodar, April 19, 2013: OJSC "Magnit", Russia largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 22nd"Magnit Family" store.

Please be informed that today the Company has opened its 22nd "Magnit Family"store located at 50 let Pobedy street, Tutaev, Yaroslavl region, Centralfederal district. Assortment of the store consists of more than 4,000 SKUs, outof which about 98% are food items. There are 13 cash desks installed in thesales area. The store is open 7 days a week from 9 am to 10 pm.

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Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT, S&P: "BB") is the holding company for a group of entities that operate inthe retail trade under the "Magnit" brand. The chain of "Magnit" stores is thelargest food retail network in Russia. As of March 31, 2013 the chain consistedof 6,209 convenience stores, 132 hypermarkets, 21 "Magnit Family" stores and713 cosmetics stores (drogerie) in 1,647 cities and towns throughout theRussian 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 March 31, 2013 Magnit operated an in-house logistics system consisting of18 distribution centers, employing automated stock replenishment systems and afleet of 4,448 vehicles.

In accordance with the audited IFRS consolidated financial statements for 2012,Magnit recorded consolidated revenues of approximately $14,430 million USD anda consolidated EBITDA of $1,524 million USD.