Resumption of work of the hypermarket in Krymsk

Press-release

Krasnodar

July 13, 2012

OJSC "Magnit" announces the resumption of work of the hypermarket in Krymsk

Krasnodar, July 13, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) announces the resumption of work of the hypermarket in Krymsk.

We would like to inform you that the hypermarket which was damaged by floods in Krymsk, has partially resumed its operations after repair works.

As of July 13, 2012 there are six convenience stores operating out of eight located in Krymsk, the most damaged two will resume their operations in the next 10-12 days.

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 audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 939 million.