Change of Share

Press-release Krasnodar June 24, 2014 OJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's Control Krasnodar, June 24, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company", the "Issuer", MICEX and LSE: MGNT), announces the change of share ofthe entity which is under the Issuer's control. Full company name and joint-stock company "Tander"address: 185, Levanevskogo street, Krasnodar, Russia Taxpayer Id Number: 2310031475 Principal State 1022301598549Registration Number: Object of acquisition: voting shares of the Issuer June 20, 2014 Acquisition of shares Amount of acquired shares: 4 shares (0.000004% of the total equity) Basis for acquisition: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 266,369 votes (0.281689% of the total number ofacquisition: votes) Amount of votes after 266,373 votes (0.281693% of the total number ofacquisition: votes) June 20, 2014 Disposal of shares Amount of disposed shares: 9,476 shares (0.010021% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 266,373 votes (0.281693% of the total number ofdisposal: votes) Amount of votes after 256,897 votes (0.271672% of the total number ofdisposal: votes) June 23, 2014 Disposal of shares Amount of disposed shares: 177,655 shares (0.187873% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange, Repurchase Agreement Amount of votes before 256,897 votes (0.271672% of the total number ofdisposal: votes) Amount of votes after 79,242 votes (0.083800% of the total number of votes)disposal: 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: +7-861-277-45-54 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 March 31, 2014,Magnit operated 23 distribution centers and over 8,200 stores (7,341convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities andtowns 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.