Clarification to the February 2013 Results Press-Release

OJSC MAGNIT - Clarification to the February 2013 Results Press-Release

PR Newswire

London, March 11

OJSC "Magnit" Provides Clarification to February 2013 Results

Krasnodar, March 11, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT)provides further clarification to the February 2013 results press-release

After the publication of Magnit's 2013 February results, we received some callsfrom analysts and investors and therefore, we would like to provide somefurther clarification.

It should be noted that the month of February 2012 was in a leap year and thus,had 29 days (i.e. an extra day). February 2013 was a normal year and thus,there were 28 days. Therefore, the 37.48% sales growth in February 2012 wasbased on a month with 29 days and in order to fairly compare it with February2011 (a normal month with 28 days) an amount of 3.6% should be subtracted from2012, which would equal 33.88%. To compare the results of February 2013 withFebruary 2012 correctly, an amount of 3.6% should be added to February 2013,which would equal 29.5%

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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 December 31, 2012 the chainconsisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family"stores and 692 cosmetics stores (drogerie) in 1,605 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 December 31, 2012 Magnit operated an in-house logistics system consistingof 18 distribution centers, employing automated stock replenishment systems anda fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnitrecorded consolidated revenues of approximately $14,430 million USD and aconsolidated EBITDA of $1,524 million USD.