Change of Share

Press-release Krasnodar January 24, 2014 OJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's Control Krasnodar, January 24, 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 21, 2014 Acquisition of shares Amount of acquired shares: 50,236 shares (0.053125% of the total equity) Basis for acquisition: Salesand Purchase Agreements executed in the trading of MICEX Stock Exchange, Repurchase Agreement Amount of votes before 75,174 votes (0.079498% of the total number of votes)acquisition: Amount of votes after 125,410 votes (0.132623% of the total number ofacquisition: votes) January 21, 2014 Disposal of shares Amount of disposed shares: 12,177 shares (0.012877% of the total equity) Basis for disposal: Sales and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 125,410 votes (0.132623% of the total number ofdisposal: votes) Amount of votes after 113,233 votes (0.119746% of the total number ofdisposal: votes) January 22, 2014 Acquisition of shares Amount of acquired shares: 6,800 shares (0.007191% of the total equity) Basis for acquisition: Sales and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 113,233 votes (0.119746% of the total number ofacquisition: votes) Amount of votes after 120,033 votes (0.126937% of the total number ofacquisition: votes) January 22, 2014 Disposal of shares Amount of disposed shares: 150shares (0.000159% of the total equity) Basis for disposal: Sales and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 120,033 votes (0.126937% of the total number ofdisposal: votes) Amount of votes after 119,883 votes (0.126778% of the total number ofdisposal: votes) January 23, 2014 Acquisition of shares Amount of acquired shares: 7,000 shares (0.007403% of the total equity) Basis for acquisition: Sales and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 119,883 votes (0.126778% of the total number ofacquisition: votes) Amount of votes after 126,883 votes (0.134181% of the total number ofacquisition: votes) 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.