Change of Share

Press-release Krasnodar January 17, 2014 OJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's Control Krasnodar, January 17, 2014: OJSC "Magnit", Russia's largest 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 January 15, 2014 Acquisition of shares Amount of acquired shares: 24,300 shares (0.025698% of the total equity) Basis for acquisition: Salesand Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 35,084 votes (0.037102% of the total number of votes)acquisition: Amount of votes after 59,384 votes (0.062799% of the total number of votes)acquisition: January 15, 2014 Disposal of shares Amount of disposed shares: 22,799 shares (0.024110% of the total equity) Basis for disposal: Repurchase Agreement Amount of votes before 59,384 votes (0.062799% of the total number ofdisposal: votes) Amount of votes after 36,585 votes (0.038689% of the total number of votes)disposal: January 16, 2014 Acquisition of shares Amount of acquired shares: 42,506 shares (0.044951% of the total equity) Basis for acquisition: Sales and Purchase Agreements executed in the trading of MICEX Stock Exchange; Repurchase Agreement Amount of votes before 36,585 votes (0.038689% of the total number of votes)acquisition: Amount of votes after 79,091 votes (0.083640% of the total number of votes)acquisition: January 16, 2014 Disposal of shares Amount of disposed shares: 3,234 shares (0.003420% of the total equity) Basis for disposal: Sales and Purchase Agreements executed in the trading of MICEX Stock Exchange; Repurchase Agreement Amount of votes before 79,091 votes (0.083640% of the total number ofdisposal: votes) Amount of votes after 75,857 votes (0.080220% 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 x7600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 Dina Svishcheva Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 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 its reviewed IFRS consolidated financial statements, Magnithad 1H 2013 revenues of $8.7 billion USD and an EBITDA of $890 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 nowEurope's 2nd largest food retailer.