Correction : Magnit Opens a New Distribution Center

Total final space of the distribution center has been added to the text of thepress-release Press-release Krasnodar December 9, 2013 OJSC "Magnit" Announces the Opening of a New Distribution Center Krasnodar, December 9, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT) announces the opening of a new distributioncenter in Shakhty of Rostov region. Please be informed that the first stage of a new distribution center (DC) inShakhty, Rostov region 17 807 sq. m. in area has been placed in operation. Oncefully launched and operational the DC will have the space of 56,560 sq. m.Launch of the new distribution facility will improve the quality of service inthe Southern region. "Magnit" operates 21 distribution centers with their total capacity of about559,838 sq. m. 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 September 30,2013, Magnit operated 19 distribution centers and over 7,600 stores (6,783convenience, 178 hypermarkets, and 685 cosmetics) in more than 1,760 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.