Opening of a New Distribution Center

Press-release

Krasnodar

September 17, 2012

OJSC "Magnit" Announces the Opening of a Distribution Center in Omsk

Krasnodar, September 17, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the opening of a new distribution center in Omsk.

Dear Ladies and Gentlemen!

We are glad to inform you that the Company opened a new distribution center in Omsk. Total space of the warehouse (first stage) is about 7,114 sq. m. Launch of the new distribution center will improve the quality of service in the Siberian region.

"Magnit" retail chain operates 17 distribution centers with their total capacity of about 409,398 sq. m.

For further information, please contact:

Company description:

Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" (LSE and MICEX: MGNT, S&P: "BB-") 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, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in 1,461 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, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately US$ 6,776 million and consolidated EBITDA of around US$ 671 million.