Correction: Unaudited FY2013 Results Publication Date

Only the Headline has been corrected. The text of the announcement remainsunchanged. Press-release Krasnodar January 21, 2014 OJSC "Magnit" Announces the Publication Date of Unaudited FY2013 Financial Results Prepared in accordance with the IFRS and Based on the Management Accounts Krasnodar, January 21, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the publication date ofunaudited FY 2013 financial results prepared in accordance with the IFRS andbased on the management accounts. Please be informed that OJSC "Magnit" plans to release its unaudited FY 2013financial results prepared in accordance with the IFRS and based on managementaccounts on Monday, January 27, 2014. 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: +7-861-277-4554 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.