Opening of a New Distribution Center

Press-release

Krasnodar

September 21, 2011

OJSC "Magnit" announces the opening of a distribution center in Izhevsk

Krasnodar, September 21, 2011: OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of a new distribution center in Izhevsk.

Dear Ladies and Gentlemen!

We are glad to inform you that the Company opened a new distribution center in Izhevsk, Udmurt Republic. Total space of the warehouse is 23,988 sq. m. Launch of the new distribution center will improve the quality of service in the Volga region.

"Magnit" retail chain operates 14 distribution centers with their total capacity of 323,431 sq. m.

For further information, please contact:

Company description:

Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is the holding company for a group of entities that 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 of June 30, 2011 the chain consisted of 4,366 convenience stores, 66 hypermarkets and 28 cosmetics stores (drogerie) in 1,286 locations in the Russian Federation.

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

As of June 30, 2011 the Company operated an in-house logistics system consisting of 12 distribution centers, employing automated stock replenishment systems and a fleet of 3,454 vehicles.

In accordance with the unaudited IFRS consolidated financial statements for 1H 2011, the Company recorded consolidated revenue of approximately US$5,471 million and consolidated EBITDA of around US$359 million.