Magnit Hypermarket and "Magnit Family" Store Opening

Press-release Krasnodar September 30, 2014 OJSC "Magnit" Announces the Opening of a New Hypermarket and "Magnit Family" store Krasnodar, September 30, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of a newhypermarket and "Magnit Family" store. Please be informed that today the Company has opened its 175th hypermarket and68th "Magnit Family" store. The 175th hypermarket (small format) is located at Arkhangelskaya street,Koryazhma, Arkhangelsk oblast, North West federal region. Assortment of thehypermarket consists of more than 9,000 SKUs, out of which about 86% 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 68th "Magnit Family" store is located at 2, Lenina street, Yugorsk,Khanty-Mansi autonomous district, Urals federal region. Assortment of the storeconsists of about 8,500 SKUs, out of which about 85% are food items. There are13 cash desks installed in the sales area. The outlet is leased by the Company.The hypermarket is open 7 days a week from 10 am to 10 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 June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand 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.