61st "Magnit Family" Store Opening

Press-release Krasnodar July 31, 2014 OJSC "Magnit" Announces the Opening of the 61st "Magnit Family" Store Krasnodar, July 31, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 61st"Magnit Family" store. Please be informed that today the Company has opened its 61st "Magnit Family"store located at 5a, Kalmykova street ("Fregat" shopping center), Kartaly,Chelyabinsk region, Urals federal district. Assortment of the store consists ofmore than 7,300 SKUs, out of which about 81% are food items. There are 13 cashdesks installed in the sales area. The outlet is leased by the Company. Thestore is open 7 days a week from 10 am to 10 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: +7-861-277-4554 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 cosmetics) 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.