New Hypermarkets Opening

OJSC MAGNIT - New Hypermarkets Opening

PR Newswire

London, December 28

OJSC "Magnit" Announces the Opening of New Hypermarkets

Krasnodar, December 28, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) is pleased to announce the opening of new hypermarkets.

Please be informed that today the Company has opened its 123rd, 124th, 125thand 126th hypermarkets.

The 123rd hypermarket of a small format is located at 42 Chapaeva street,Nizhnevartovsk, Khanty-Mansiysk autonomous district, Urals federal district.Assortment of the hypermarket consists of about 10,500 SKUs, out of which about74% are food items. There are 19 cash desks installed in the sales area. Thehypermarket is open 7 days a week from 9 am to 11 pm.

The 124th hypermarket of a small format is located at 6 Ulyanovskiy prospect("Grand" shopping center), Ulyanovsk, Volga federal district. Assortment of thehypermarket consists of more than 9,700 SKUs, out of which about 77% are fooditems. There are 15 cash desks installed in the sales area. The hypermarket isopen 7 days a week from 9 am to 10 pm.

The 125th hypermarket of a medium format is located at 113, the 11th district,Tobolsk, Tyumen region, Urals federal district. Assortment of the hypermarketconsists of more than 10,300 SKUs, out of which about 62% are food items. Thereare 21 cash desks installed in the sales area. The hypermarket is open 7 days aweek from 10 am to 10 pm.

The 126th hypermarket of a medium format is located at 71 Molodezhnaya street,Izhevsk, Udmurt Republic, Volga federal district. Assortment of the hypermarketconsists of about 13,800 SKUs, out of which about 63% are food items. There are23 cash desks installed in the sales area. The hypermarket is open 7 days aweek from 8 am to 10 pm.

For further information, please contact:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT) is the holding company for a group of entities that operate in the retailtrade under the "Magnit" brand. The chain of "Magnit" stores is one of theleading food retail networks in Russia. As of September 30, 2012 the chainconsisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family"stores and 480 cosmetics stores (drogerie) in 1,504 cities and towns throughoutthe Russian Federation.

Approximately two-thirds of the Magnit's stores are located in cities with apopulation of less than 500,000 inhabitants. Most of its stores are located inthe Southern, North-Caucasian, Central and Volga regions. The Company alsooperates stores in the North-Western, Urals and Siberian regions.

As of September 30, 2012 Magnit operated an in-house logistics systemconsisting of 17 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.