Change of Share

Press-release Krasnodar September 3, 2014 OJSC "Magnit" Announces the Change of Share ofthe Entity under the Issuer's Control Krasnodar, September 3, 2014: OJSC "Magnit", Russia's largest food retailer(the "Company", the "Issuer", MICEX and LSE: MGNT), announces the change ofshare of the 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 August 29, 2014 Acquisition of shares Amount of acquired shares: 10,309 shares (0.010902% of the total equity) Basis for acquisition: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 247,821 votes (0.262074% of the total number ofacquisition: votes) Amount of votes after 258,130 votes (0.272976% of the total number ofacquisition: votes) August 29, 2014 Disposal of shares Amount of disposed shares: 600 shares (0.000635% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 258,130 votes (0.272976% of the total number ofdisposal: votes) Amount of votes after 257,530 votes (0.272342% of the total number ofdisposal: votes) September 1, 2014 Acquisition of shares Amount of acquired shares: 21,200 shares (0.022419% of the total equity) Basis for acquisition: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 257,530 votes (0.272342% of the total number ofacquisition: votes) Amount of votes after 278,730 votes (0.294761% of the total number ofacquisition: votes) September 2, 2014 Acquisition of shares Amount of acquired shares: 11,387 shares (0.012042% of the total equity) Basis for acquisition: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 278,730 votes (0.294761% of the total number ofacquisition: votes) Amount of votes after 290,117 votes (0.306803% of the total number ofacquisition: votes) September 2, 2014 Disposal of shares Amount of disposed shares: 497 shares (0.000526% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 290,117 votes (0.306803% of the total number ofdisposal: votes) Amount of votes after 289,620 votes (0.306277% of the total number ofdisposal: votes) 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 June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand towns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 millionUSD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX:MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a creditrating from Standard & Poor's of BB. Measured by market capitalization, Magnitis one of the largest retailers in Europe.