March/3M 2013 Results

Press-release Krasnodar April 10, 2013

OJSC "Magnit" Announces 33% Retail Sales Growth in Rubles for March 2013[1]

Krasnodar, April 10, 2013: OJSC "Magnit" (the "Company"; MICEX andLSE: MGNT) announces 33% retail sales growth in rubles for March 2013

During March 2013 the Company opened (net) 80 stores. The totalstore base reached 7,075 stores (6,209 convenience stores, 132 hypermarkets,21 "Magnit Family" stores and 713 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT)in 3M 2013 increased by 30.44% in ruble terms (compared to 3M 2012) and stoodat 131,217.87 million rubles.

As has been noted previously, the month of February 2012 occurred during a"leap year" and thus, there were 29 days (i.e. an extra day). February 2013,on the other hand, occurred during a "normal year" in which there were only 28days.

This very same "leap year" effect/adjustment should also be calculated whenone makes the comparison between 3M 2012 numbers vs. 3M 2013 numbers.

Therefore, in order to fairly compare the 3M 2012 results to the 3M 2011results an amount of 1.47% should be subtracted for the 3M 2012, which wouldthen equal 32.60%. To compare the 3M 2013 results with the 3M 2012 resultscorrectly, an amount of 1.45% should be added, which would then equal 31.89%.

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[1] According to management accounts

March 2013 Key Operating and Financial Highlights:

March March Growth 3М 3М Growth 2013 2012 Rate 2013 2012 RateNumber of opened stores, NET 80 86 n/a 191 157 n/a convenience stores 70 57 n/a 163 98 n/a hypermarkets 4 1 n/a 6 1 n/a magnit family 0 2 n/a 1 2 n/a cosmetics stores 6 26 n/a 21 56 n/a Total number of stores 7,075 5,466 n/a 7,075 5,466 n/a convenience stores 6,209 5,104 n/a 6,209 5,104 n/a hypermarkets 132 91 n/a 132 91 n/a magnit family 21 5 n/a 21 5 n/a cosmetics stores 713 266 n/a 713 266 n/a

Selling space, thousand sq. m. 2,629.88 2,024.90 29.88% 2,629.88 2,024.90 29.88%

convenience stores 2,030.20 1,673.48

21.32% 2,030.20 1,673.48 21.32%

hypermarkets 407.46 282.10

44.44% 407.46 282.10 44.44%

magnit family 25.81 6.20 n/a 25.81 6.20 n/a cosmetics stores 166.41 63.12 n/a 166.41 63.12 n/a Number of customers, million 202.41 165.47 22.32% 563.01 462.04 21.85% convenience stores 181.07 152.72 18.56% 505.46 427.82 18.15% hypermarkets 15.55 10.84 43.52% 42.13 29.39 43.32% magnit family 2.07 0.34 n/a 5.58 0.87 n/a cosmetics stores 3.72 1.57 n/a 9.85 3.96 n/a Net retail sales, million RUR 48,051.12 36,178.18 32.82% 131,217.87 100,593.43 30.44% convenience stores 37,801.71 29,830.35 26.72% 104,145.23 83,658.79 24.49% hypermarkets 8,573.74 5,846.73 46.64% 22,670.89 15.680.27 44.58% magnit family 729.71 116.76 n/a 1,935.79 301.57 n/a cosmetics stores 945.96 384.33 n/a 2,465.97 952.80 n/a Net retail sales, million US$[2] 1,560.17 1,231.90 26.65% 4,314.36 3,323.84 29.80% convenience stores 1,227.38 1,015.75 20.83% 3,424.23 2,764.28 23.87% hypermarkets 278.38 199.09 39.83% 745.40 518.11 43.87% magnit family 23.69 3.98 n/a 63.65 9.96 n/a cosmetics stores 30.71 13.09 n/a 81.08 31.48 n/a

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[2] Based on the average exchange rate for March 2013 of 30.7987RUB per 1 USD, March 2012 - 29.3678 RUB per 1 USD, 3M 2013 - 30.4142 RUB per 1USD, 3M 2012 - 30.2642 RUB per 1 USD

LFL results

LFL growth 1Q 2013 - 1Q 2012[3] Convenience Hypermarkets Total storesAverage ticket (excluding VAT), RUR 5.31% 3.19% 5.42%Traffic (0.80)% 3.77% (0.55)%Revenue, RUR 4.46% 7.08% 4.83%

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) 277-45-62

Dina 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, S&P: "BB") is the holding company for a group of entitiesthat operate in the retail trade under the "Magnit" brand. The chain of"Magnit" stores is one of the leading food retail networks in Russia. As ofMarch 31, 2013 the chain consisted of 6,209 convenience stores, 132hypermarkets, 21 "Magnit Family" stores and 713 cosmetics stores (drogerie) in1,647 cities and towns throughout 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 March 31, 2013 Magnit operated an in-house logistics systemconsisting of 18 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,448 vehicles.

In accordance with the audited IFRS consolidated financialstatements for 2012, Magnit recorded consolidated revenues of approximately$14,430 million USD and a consolidated EBITDA of $1,524 million USD.

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[3] Based on 4,087 convenience stores which were opened by July 1,2011, and 60 hypermarkets which were opened by May 1, 2011, i.e. based on theresult of the convenience stores that had been operating for not less than sixmonths and hypermarkets that had been operating for not less than eight monthsand have achieved a mature level of sales