23rd "Magnit Family" Store Opening

OJSC MAGNIT - 23rd "Magnit Family" Store Opening

PR Newswire

London, May 14

OJSC "Magnit" Announcesthe Opening of the 23rd "Magnit Family" Store

Krasnodar, May 14, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 23rd"Magnit Family" store.

Please be informed that today the Company has opened its 23rd "Magnit Family"store located at 5/2 Sholokhova street, Moscow, Central federal district.Assortment of the store consists of more than 4,000 SKUs, out of which about98% are food items. There are 14 cash desks installed in the sales area. Thestore is open 7 days a week from 9 am to 11 pm.

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Headquartered in the southern Russian 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 $14.43 billion USD and aconsolidated EBITDA of $1.52 billion USD.