48th "Magnit Family" Store Opening

Press-release Krasnodar February 28, 2014 OJSC "Magnit" Announces the Opening of the 48th "Magnit Family" Store Krasnodar, February 28, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 48th"Magnit Family" store. Please be informed that on February 28, 2014 the Company has opened its 48th"Magnit Family" store located at 38, 6th neighborhood unit ("Eurasia" shoppingcenter), Tobolsk, Tyumen region, Urals federal district. Assortment of thestore consists of more than 5,300 SKUs, out of which about 86% are food items.There are 13 cash desks installed in the sales area. The outlet is leased bythe Company. The hypermarket 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 x7600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 Dina Svishcheva Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x5101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of December 31,2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS management accounts for 2013, Magnit hadrevenues of $18,202 million USD and an EBITDA of $2,032 million USD. Magnit'slocal shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRson the London Stock Exchange (LSE: MGNT) and it has a credit rating fromStandard & Poor's of BB. Measured by market capitalization, Magnit is nowEurope's 2nd largest retailer.