Magnit Opens the 7000th Convenience Store

Press-release Krasnodar November 29, 2013 OJSC "Magnit" Has Opened the 7000th Convenience Store Krasnodar, November 29, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT) announces the opening of the 7000th conveniencestore. Please be informed that today the Company has opened its 7000th conveniencestore located at 94a Dushenova street, Gadzhievo, Murmansk region. This is thefirst "Magnit" store in this town where population is about 11000 people. Thetotal space of the store is 387 sq. m. and its selling space is 274 sq. m. Theoutlet is leased by the Company. 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.