Change of Share

Press-releaseKrasnodarJanuary 9, 2013

OJSC "Magnit" announces change of share of the BoD members and members of theManagement Board in the charter capital

Krasnodar, January 9, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT)announces change of share of the BoD members and members of the ManagementBoard in the charter capital.

Name of issuer

Open Joint Stock Company "Magnit," a company incorporated and existing underthe laws of the Russian Federation with its registered address at 15/5Solnechnaya street, Krasnodar, Krasnodar region, Russian Federation.

On January 9, 2013 the Company has been notified of the following changes ofshare of the BoD members and members of the Management Board in its chartercapital (date of change: December 28, 2012).

Name and Share in Share of ordinary Share in Share of position charter capital shares owned charter ordinary before change before change capital after shares after change change Pombukhchan 0,0003% 0,0003% 0,0022% 0,0022% Khachatur Chairman of the BoD Shkhachemukov 0,0016% 0,0016% 0,0024% 0,0024% Aslan BoD member Barsukov 0,0015% 0,0015% 0,0026% 0,0026% Alexander member of the Management Board Ivanova Marina 0,00452% 0,00452% 0,0061% 0,0061% member of the Management Board Sattarov Ilya 0,0006% 0,0006% 0,0022% 0,0022% member of the Management Board

For further information, please contact:

Oleg Goncharov Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 Company description:Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT) is the holding company for a group of entities that operate in the retailtrade under the "Magnit" brand. The chain of "Magnit" stores is one of theleading food retail networks in Russia. As of September 30, 2012 the chainconsisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family"stores and 480 cosmetics stores (drogerie) in 1,504 cities and towns throughoutthe Russian 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 September 30, 2012 Magnit operated an in-house logistics systemconsisting of 17 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.