Conclusion of Agreement on Provision of Services

Press-release Krasnodar September 4, 2013 OJSC "Magnit" Announces the Conclusion of Agreement on the Provision of Services Krasnodar, September 4, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) is pleased to announce the conclusion of agreement on the provision ofservices with JSC "National Settlement Depositary". Please be informed that on September 4, 2013 the Company has concluded theagreement under which Non-bank credit institution joint-stock company "NationalSettlement Depositary" shall provide agent services on the payment of thenominal value of bonds at their redemption and on the coupon yield paymentagainst non-convertible interest-bearing certified exchange-traded bonds to thebearer of BO-08 and BO-09 series with the obligatory centralized custody. Parameters of the bond issue: Type of securities: Non-convertible interest-bearing certified exchange-traded bonds to the bearer of BO-08 and BO-09series with the obligatory centralized custody Identification code and 4B02-08-60525-P as of10.08.2011; 4B02-09-60525-P asdate of its assignment to of10.08.2011the issue: Full name of the company Non-bank credit institution joint-stock companyinvolved by the issuer "National Settlement Depositary"for agent services uponthe issuer's obligations Taxpayer Identification Number: 7702165310 against bonds Principal State Registration Number of the issuer: 1027739132563 Short description of Provision of services on the payment of the nominalservices provided by the value of bonds at theirredemption and on the couponcompany yieldpayment against non-convertible interest-bearing certified exchange-traded bonds to the bearer of BO-08 and BO-09 series with theobligatory centralized custody Amount of service cost The cost of services of the paying agent for the execution of each instruction to make the payment against bonds is determined in accordance with the schedule of feesforservices of Non-bank credit institution joint-stock company "National Settlement Depositary" as of the date of the service provision. The remuneration (R) of Non-bank credit institution joint-stock company "National Settlement Depositary" excluding VATis determined bythe following formula:R= r*D, where r - the rate of remuneration of Non-bank credit institution joint-stock company "National Settlement Depository" in per cent pereachpayment effected by Non-bankcredit institution joint-stock company "National Settlement Depository" under the issuer's instruction againstbondissue under the contractof the paying agent; D -the amount subject for distribution in rubles. Date of agreement September4, 2013(Additional agreement №3of September 4, 2013to the agreement on the provision of services on the payment of thenominal value of bonds at their redemptionand on the coupon yield payment(the contract of the paying agent)№ D-11-22-167asof 04.03.11 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 by Sergey Galitskiy, thecompany is headquartered in the southern Russian city of Krasnodar. As of June30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H2013, Magnit had revenues of $8,796 million USD and an EBITDA of $890 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 now Europe's 2nd largest retailer.