Increase of Number of Shares Owned by OppenheimerFunds

Press-release Krasnodar June 10, 2014 OJSC "Magnit" Announcesthe Increase of the Number of Its Shares Owned byOppenheimerFunds, Inc. Krasnodar, June 10, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company", the "Issuer", MICEX and LSE: MGNT), announces the increase of thenumber of its shares owned by OppenheimerFunds, Inc. Please be informed that OppenheimerFunds, Inc. (6803 S. Tucson Way, Centennial,CO 80112, United States of America) increased its share in the charter capitalof OJSC "Magnit" from 4,709,229 (4.980%) to 4,729,595 (5.002%) through OFIInstitutional Asset Management, Inc. (6803 S. Tucson Way, Centennial, CO 80112,United States of America) jointly with the following entities: - MassMutual Strategic Emerging Markets Fund (100 Bright Meadow Blvd., M179,Enfield, CT 06082, United States of America) - Oppenheimer Global Allocation Fund (Two World Financial Center, 225 LibertyStreet, New York, NY 10281-1008) - Pacific Select Emerging Markets Portfolio (700 Newport Dr Newport Beach, CA92660) - PL Emerging Markets Fund (700 Newport Dr Newport Beach, CA 92660) - Oppenheimer Developing Markets Fund (Two World Financial Center, 225 LibertyStreet, New York, NY 10281-1008) - Transamerica Oppenheimer Developing Markets (Transamerica Asset ManagementGroup 570 Carillon Parkway St. Petersburg, FL 33716-1202) - MassMutual Premier Strategic Emerging Markets Fund (100 Bright Meadow Blvd.,M179, Enfield, CT 06082, United States of America) - KVW HSBC INKA Emerging Markets Portfolio (Yorckstraße 21, 40476, Dusseldorf,Germany) - Heptagon OFI Developing Markets Fund (63 Brook Street, London W1K 4HS, UnitedKingdom) - MML Fern Street LLC (1295 State Street, Spreingfield, MA 01111, United Statesof America) - Osool SIO Bahrain Emerging Makets Equity Portfolio (1st Floor, ArcapitaBuilding, Building 551, Road 4612, Bahrain Bay, Block 346 (Manama/Sea Front)Kingdom of Bahrain) - Vital Forsikring ASA (Folke Bernadottesvei 40, Postbox 7500, Bergen, Norway) - OFITC Emerging Markets Equity Fund (Two World Financial Center, 225 LibertyStreet, New York, NY 10281-1008) - Stichting Pensioenfonds Hoogovens (P.O. Box 10, 000 1970 CA Ijmuiden, TheNetherlands) - OFII Emerging Markets Equity Fund LP (Two World Financial Center, 225 LibertyStreet, New York, NY 10281-1008) The disposition right was acquired by OppenheimerFunds, Inc. based on trustmanagement contracts and other agreements, the subject of which is theexecution of rights certified by the entity's shares as of June 2, 2014. For further information, please contact: Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 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 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of March 31, 2014,Magnit operated 23 distribution centers and over 8,200 stores (7,341convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financial statements for 2013,Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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 oneof the largest retailers in Europe.