New Hypermarkets and "Magnit Family" Stores Opening

Press-release Krasnodar December 23, 2013 OJSC "Magnit" Announces the Opening of New Hypermarkets and "Magnit Family" stores Krasnodar, December 23, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of newhypermarkets and "Magnit Family" stores. Please be informed that on December 22, 2013 the Company has opened its 158thhypermarket. The 158th hypermarket (medium format) is located at 7 Mira street ("Marmelad"shopping center), Taganrog, Rostov region, Southern federal district.Assortment of the hypermarket consists of more than 12,100 SKUs, out of whichabout 68% are food items. There are 19 cash desks installed in the sales area.The outlet is leased by the Company. The hypermarket is open 7 days a week from10 am to 10 pm. On December 23, 2013 the Company has opened its 42nd, 43rd and 44th "MagnitFamily" stores and 159th hypermarket. The 42nd "Magnit Family" store is located at 37 Kavkazskaya street ("Khimik"cultural center), Cherkessk, Karachay-Cherkess Republic, North-Caucasianfederal district. Assortment of the store consists of more than 3,900 SKUs, outof which about 85% are food items. There are 11 cash desks installed in thesales area. The outlet is leased by the Company. The store is open 7 days aweek from 9 am to 10 pm. The 43rd "Magnit Family" store is located at Svobody street, Salsk, Rostovregion, Southern federal district. Assortment of the store consists of about4,900 SKUs, out of which about 76% are food items. There are 13 cash desksinstalled in the sales area. The outlet is owned by the Company. The store isopen 7 days a week from 9 am to 10 pm. The 44th "Magnit Family" store is located at 2 Budennogo street ("Karnaval"shopping center), Krasnodar, Southern federal district. Assortment of the storeconsists of more than 7,200 SKUs, out of which about 89% are food items. Thereare 13 cash desks installed in the sales area. The outlet is leased by theCompany. The store is open 7 days a week from 10 am to 10 pm. The 159th hypermarket (small format) is located at Lenina street, Slantsy,Leningrad region, North-Western federal district. Assortment of the hypermarketconsists of about 8,300 SKUs, out of which about 71% are food items. There are19 cash desks installed in the sales area. The outlet is owned by the Company.The hypermarket 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 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.