Correction : Material Fact

Basis for disposal: Securities Purchase Agreements (off-exchange)

Press-releaseKrasnodarJanuary 10, 2013

OJSC "Magnit" announces the disposal of shares by the entity under the issuer'scontrol

Krasnodar, January 10, 2013: OJSC "Magnit" (the "Company", the "Issuer", MICEXand LSE: MGNT) announces the disposal of shares by the entity which is underthe Issuer's control.Full company name and joint-stock company "Tander" address: 185, Levanevskogo street, Krasnodar, Russia Taxpayer Id Number: 2310031475 Principal State 1022301598549 Registration Number: Object of disposal: voting shares of the Issuer Amount of disposed shares: 64,437 shares (0.0681% of the total equity) Basis for disposal: Securities Purchase Agreements (off-exchange) Amount of votes before 190,163 votes (0.2011% of the total number of votes) disposal: Amount of votes after 125,726 votes (0.1329% of the total number of votes) disposal: Date of disposal: December28, 2012

For further information, please contact:

Oleg Goncharov Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54,210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 Company description: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 reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.