Execution of Related Party Transaction

Press-release Krasnodar November 5, 2013 OJSC "Magnit" Announces the Execution of the Related Party Transaction Krasnodar, November 5, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), announces the execution of the transaction onNovember 5, 2013. Please be informed that on November 5, 2013 OJSC "Magnit" (the Lender) and JSC"Tander" (the Borrower) executed the related party transaction, according towhich the Lender provides the loan of funds to the Borrower which is to berepaid by the Borrower within the period determined by the contract. Therepayment of the loan and (or) the interest may be effected by the Borrower inadvance, without written notice to the Lender of the loan repayment, by meansof transfer of the loan to the bank details specified in the contract orotherwise not contradictory to the Civil Code of the Russian Federation (offsetof mutual claims, assignment of a claim, etc.). The essentials of the transaction are as follows: Type of transaction: related party transaction Subject of transaction: loan of funds Parties and beneficiaries the Lender -open joint-stock company "Magnit"under transaction: the Borrower- joint-stock company "Tander" Maturity: loan maturity date -02.11 .2016 Transaction amount: 3,800 ,000,000.00 rubles, which amounts to 5.55% of the balance sheet value of assets of the issuer Interest rate 8.35% per annum The assets value of the issuer 68,422 ,621thousandrublesas of the closing date of thereporting period preceding thetransaction execution and inrespect of which the deadlinefor filing the accounting(financial) report has passed: The transaction was approved by the annual general shareholders meeting(minutes of the annual general shareholders meeting of OJSC "Magnit" № w/№ ofMay 24, 2013). 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.

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