December/12M 2012 Results

Press-releaseKrasnodarJanuary 10, 2013

OJSC "Magnit" Announces 35% Retail Sales Growth in Rubles for December 2012

Krasnodar, January 10, 2013: OJSC "Magnit" (the "Company"; MICEXand LSE: MGNT) announces 35% retail sales growth in rubles for December2012[1].

During 12M 2012 the Company opened (net) 1,575 stores. The totalstore base reached 6,884 stores (6,046 convenience stores, 126 hypermarkets,20 "Magnit Family" stores and 692 cosmetics stores). Preliminary consolidatedunaudited net retail revenue (excl. VAT) in 12M 2012 increased by 33.63% inruble terms (compared to 12M 2011) and stood at 448,486.20 million rubles.

December 2012 Key Operating and Financial Highlights: page 2

4Q and 12M 2012 Key Operating and Financial Highlights: page 3

LFL results. page 4

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) 277-45-62Dina 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

December 2012 Key Operating and Financial Highlights:

December 2012 December 2011 Growth RateNumber of opened stores, NET 407 286 n/a convenience stores 293 223 n/a hypermarkets 13 13 n/a magnit family 3 0 n/a cosmetics stores 98 50 n/a Total number of stores 6,884 5,309 n/a convenience stores 6,046 5,006 n/a hypermarkets 126 90 n/a magnit family 20 3 n/a cosmetics stores 692 210 n/a Selling space, thousand sq. m. 2,549.26 1,970.16 29.39% convenience stores 1,977.46 1,637.83 20.74% hypermarkets 387.62 278.45 39.21% magnit family 24.36 3.80 n/a cosmetics stores 159.83 50.09 n/a Number of customers, million 196.11 162.30 20.83% convenience stores 175.30 149.91 16.94% hypermarkets 15.35 10.73 43.01% magnit family 1.81 0.29 n/a cosmetics stores 3.65 1.37 n/a Net retail sales, million RUR 51,779.25 38,472.95 34.59% convenience stores 39,895.20 31,254.32 27.65% hypermarkets 10,129.09 6,759.60 49.85% magnit family 732.01 112.47 n/a cosmetics stores 1,022.96 346.55 n/a

Net retail sales, million US$[2] 1,684.38 1,223.11

37.71% convenience stores 1,297.79 993.62 30.61% hypermarkets 329.50 214.90 53.33% magnit family 23.81 3.58 n/a cosmetics stores 33.28 11.02 n/a

4Q and 12M 2012 Key Operating and Financial Highlights:

4Q 2012 4Q 2011 Growth Rate 12M 2012 12M 2011 Growth RateNumber of opened stores, NET 765 542 n/a 1,575 1,254 n/a convenience stores 523 413 n/a 1,040 1,004 n/a hypermarkets[3] 21 17 n/a 36 40 n/a magnit family 9 0 n/a 17 2 n/a cosmetics stores 212 112 n/a 482 208 n/a Total number of stores 6,884 5,309 n/a 6,884 5,309 n/a convenience stores 6,046 5,006 n/a 6,046 5,006 n/a hypermarkets[3] 126 90 n/a 126 90 n/a magnit family 20 3 n/a 20 3 n/a cosmetics stores 692 210 n/a 692 210 n/a Selling space, thousand sq. m. 2,549.26 1,970.16 29.39% 2,549.26 1,970.16 29.39% convenience stores 1,977.46 1,637.83 20.74% 1,977.46 1,637.83 20.74% hypermarkets 387.62 278.45 39.21% 387.62 278.45 39.21% magnit family 24.36 3.80 n/a 24.36 3.80 n/a cosmetics stores 159.83 50.09 n/a 159.83 50.09 n/a Number of customers, million 549.44 445.77 23.26%

2,033.43 1,644.43 23.66%

convenience stores 497.07 415.46 19.64%

1,863.62 1,550.28 20.21%

hypermarkets 39.47 26.81 47.22% 137.69 87.97 56.53% magnit family 4.34 0.82 n/a 8.87 2.20 n/a cosmetics stores 8.56 2.68 n/a 23.25 3.98 n/a

Net retail sales, million RUR 129,153.84 95,500.24 35.24% 448,486.20 335,607.39 33.63%

convenience stores 102,481.13 79,660.18 28.65%

364,236.40 287,731.79 26.59%

hypermarkets 22,881.23 14,925.23 53.31%

75,418.70 46,185.07 63.30%

magnit family 1,583.85 286.17 n/a 3,098.58 797.71 n/a cosmetics stores 2,207.63 628.66 n/a 5,732.51 892.82 n/a

Net retail sales, million US$[4] 4,155.97 3,057.93 35.91% 14,424.02 11,420.11 26.30%

convenience stores 3,297.68 2,550.73 29.28%

11,714.42 9,790.99 19.64%

hypermarkets 736.28 477.91 54.06%

2,425.58 1,571.59 54.34%

magnit family 50.97 9.16 n/a

99.66 27.14 n/a

cosmetics stores 71.04 20.13 n/a 184.37 30.38 n/aLFL results

LFL growth 4Q 2012 - 4Q 2011[5] Convenience stores Hypermarkets

TotalAverage ticket (excluding VAT), RUR 7.60% 6.19% 7.83%Traffic 0.38% 4.93% 0.62%Revenue, RUR 8.01% 11.43% 8.50%

LFL growth 12M 2012 to 12M 2011[6] Convenience stores Hypermarkets

TotalAverage ticket (excluding VAT), RUR 5.73% 3.23% 5.63%Traffic (0.46)% 2.07% (0.35)%Revenue, RUR 5.25% 5.36% 5.26%Company description:Headquartered in the southern Russia city of Krasnodar, Magnit (LSEand MICEX: MGNT) is the holding company for a group of entities that operatein the retail trade under the "Magnit" brand. The chain of "Magnit" stores isone of the leading food retail networks in Russia. As of December 31, 2012 thechain consisted of 6,046 convenience stores, 126 hypermarkets, 20 "MagnitFamily" stores and 692 cosmetics stores (drogerie) in 1,605 cities and townsthroughout the Russian Federation.Approximately two-thirds of the Magnit's stores are located incities with a population of less than 500,000 inhabitants. Most of its storesare located in the Southern, North-Caucasian, Central and Volga regions. TheCompany also operates stores in the North-Western, Urals and Siberian regions.

As of December 31, 2012 Magnit operated an in-house logisticssystem consisting of 18 distribution centers, employing automated stockreplenishment systems and a fleet of 4,401 vehicles.

In accordance with the reviewed IFRS consolidated financialstatements for 1H 2012, the Magnit recorded consolidated revenues ofapproximately $6.7 billion USD and a consolidated EBITDA of $671 million USD.

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[1] According to management accounts

[2] Based on the average exchange rate for December 2012 of 30.7408 RUB per 1USD, December 2011 - 31.4551 RUB per 1 USD

[3] On May 14, 2012 the Company announced the reformatting of 5hypermarkets to Magnit Family stores. Detailed information can be obtainedfrom the press-releasehttp://www.magnit-info.ru/upload/iblock/f08/f081571bdef1933b951446680a26bf40.pdf

[4] Based on the average exchange rate for 4Q 2012 of 31.0767 RUB per 1 USD,4Q 2011 - 31.2304 RUB per 1 USD, 12М 2012 - 31.0930 RUB per 1 USD, 12M 2011 -29.3874 RUB per 1 USD[5] Based on 3,833 convenience stores which were opened by April 1,2011, and 50 hypermarkets which were opened by February 1, 2011, i.e. based onthe result of the convenience stores that had been operating for not less thansix months and hypermarkets that had been operating for not less than eightmonths and have achieved a mature level of sales[6] Based on 2,465 convenience stores which were opened by July 1,2010, and 25 hypermarkets which were opened by May 1, 2010, i.e. based on theresult of the convenience stores that had been operating for not less than sixmonths and hypermarkets that had been operating for not less than eight monthsand have achieved a mature level of sales