February/2M 2013 Results

Press-release Krasnodar March 11, 2013

OJSC "Magnit" Announces 26% Retail Sales Growth in Rubles for February 2013[1]

Krasnodar, March 11, 2013: OJSC "Magnit" (the "Company"; MICEX andLSE: MGNT) announces 26% retail sales growth in rubles for February 2013[2](please see footnote)

During February 2013 the Company opened (net) 74 stores. The totalstore base reached 6,995 stores (6,139 convenience stores, 128 hypermarkets,21 "Magnit Family" stores and 707 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT)in 2M 2013 increased by 29.11% in ruble terms (compared to 2M 2012) and stoodat 83,166.75 million rubles.

February 2013 Key Operating and Financial Highlights:

February 2013 February 2012 Growth Rate 2М 2013 2М 2012 Growth RateNumber of opened stores, NET 74 34 n/a 111 71 n/a convenience stores 59 18 n/a 93 41 n/a hypermarkets 2 0 n/a 2 0 n/a magnit family 0 0 n/a 1 0 n/a cosmetics stores 13 16 n/a 15 30 n/a Total number of stores 6,995 5,380 n/a 6,995 5,380 n/a convenience stores 6,139 5,047 n/a 6,139 5,047 n/a hypermarkets 128 90 n/a 128 90 n/a magnit family 21 3 n/a 21 3 n/a cosmetics stores 707 240 n/a 707 240 n/a

Selling space, thousand sq. m. 2,591.07 1,993.69 29.96% 2,591.07 1,993.69 29.96%

convenience stores 2,007.36 1,653.03

21.43% 2,007.36 1,653.03 21.43%

hypermarkets 393.07 279.50

40.64% 393.07 279.50 40.64%

magnit family 25.81 3.80 n/a 25.81 3.80 n/a cosmetics stores 164.83 57.37 n/a 164.83 57.37 n/a February 2013 February 2012 Growth Rate 2М 2013 2М 2012 Growth RateNet retail sales, million RUR 41,906.15 33,292.60 25.87% 83,166.75 64,415.25 29.11% convenience stores 33,154.50 27.699.22 19.69% 66,343.52 53,828.44 23.25% hypermarkets 7,280.76 5,172.62 40.76% 14,097.16 9,833.54 43.36% magnit family 631.44 95.59 n/a 1,206.08 184.81 n/a cosmetics stores 839.45 325.17 n/a 1,520.00 568.47 n/a Net retail sales, million US$[3] 1,389.40 1,114.06 24.71% 2,752.76 2,096.35 31.31% convenience stores 1,099.24 926.89 18.59% 2,195.93 1,751.81 25.35% hypermarkets 241.39 173.09 39.46% 466.61 320.03 45.80% magnit family 20.94 3.20 n/a 39.92 6.01 n/a cosmetics stores 27.83 10.88 n/a 50.31 18.50 n/a

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) 277-45-62

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 unaudited IFRS management accounts for 2012,Magnit recorded consolidated revenues of approximately $14,430 million USD anda consolidated EBITDA of $1,524 million USD.

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[1] According to management accounts

[2] 2012 was a leap year. There were 29 days in February 2012 vs 28 days inFebruary 2013. To compare the numbers correctly 3.6% should be added to theFebruary 2013 results, i.e. 25.9 + 3.6 = 29.5%

[3] Based on the average exchange rate for February 2013 of 30.1613 RUB per 1USD, February 2012 - 29.8839 RUB per 1 USD, 2M 2013 - 30.2121 RUB per 1 USD,2M 2012 - 30.7273 RUB per 1 USD