Execution of Related Party Transaction

Press-releaseKrasnodarFebruary 27, 2013

OJSC "Magnit" Announces the Execution of the Related Party Transaction

Krasnodar, February 27, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) announces the execution of the transaction on February 27, 2013.

The essentials of the transaction are as follows:

Type of transaction: related-party transactionSubject of transaction: loan of fundsParties and beneficiaries the Lender -open joint-stock company "Magnit"under transaction: the Borrower- joint-stock company "Tander"Maturity: loan maturity date -26.02.2016Transaction amount: 5,000,000,000.00 rubles, which amounts to 7.65% of the balance sheet value of assets of the issuerInterest rate 9.6% per annum The assets value of the issuer 65,342,418 thousand rublesas of the closing date of thereporting period preceding thetransaction execution:

The transaction was approved by the general shareholders' meeting (minutes ofthe annual general shareholders' meeting of OJSC "Magnit" № w/№ of May 28, 2012).

For further information, please contact:

Timothy Post Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54,210-98-10 ext. 7600 Mob.: +7 (961) 511-76-78 Direct line for investors only: +7 (861) 277-45-62Dina Svishcheva Deputy Director, 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) 277-45-62Company 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 unaudited IFRS management accounts for 2012, Magnitrecorded consolidated revenues of approximately $14,430 million USD and aconsolidated EBITDA of $1,524 million USD.

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