"Magnit Family" Stores Opening

Press-release Krasnodar December 29, 2014 PJSC "Magnit" Announces the Opening of the New "Magnit Family" Stores Krasnodar, December 29, 2014: PJSC "Magnit", Russia's largest food retailer(the "Company"; MICEX and LSE: MGNT), is pleased to announce the opening of thenew "Magnit Family" stores. Please be informed that on December 27, 2014 the Company has opened its 96thand 97th "Magnit Family" stores. The 96th "Magnit Family" store is located at 82B, Belinskogo street ("Gulliver"shopping center), Kuznetsk, Penza oblast, Volga federal region. Assortment ofthe store consists of more than 10,100 SKUs, out of which about 87% are fooditems. There are 15 cash desks installed in the sales area. The outlet isleased by the Company. The hypermarket is open 7 days a week from 9 am to 11pm. The 97th "Magnit Family" store is located at 147, Kalinina street, stanitsaSeverskaya, Krasnodar krai, Southern federal region. Assortment of the storeconsists of about 6,800 SKUs, out of which about 92% are food items. There are13 cash desks installed in the sales area. The outlet is leased by the Company.The store is open 7 days a week from 9 am to 11 pm. 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 September 30,2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 millionUSD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX:MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a creditrating from Standard & Poor's of BB. Measured by market capitalization, Magnitis one of the largest retailers in Europe.