Sergey Galitskiy was elected to the BoD of RSPP

Press-release

Krasnodar

August 6, 2012

OJSC "Magnit" announces the election of Sergey Galitskiy to the Bureau of the Board of Directors of RSPP

Krasnodar, August 6, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) announces the election of Sergey Galitskiy to the Bureau of the Board of Directors of RSPP.

Dear Ladies and Gentlemen!

We would like to inform you that Sergey Galitskiy, Magnit CEO, was elected to the membership of the Bureau of the Board of Directors of the Russian Union of Industrialists and Entrepreneurs (RSPP).

About RSPP[1]:

The Russian Union of Industrialists and Entrepreneurs is the all-Russian organization which represents the interest of the business community. The Russian union acts through two legal entities - the all-Russian union of employers (OOR "RSPP") and the all-Russian non-governmental organization (OOO RSPP).

Today RSPP unites more than 100 industry and regional associations representing key sectors of economy: fuel and energy, machinery, investment banking as well as military-industrial complex, construction, chemical production and consumer goods industry.

RSPP unites over 320 thousand representatives of industrial, scientific, financial and commercial organizations in all regions of Russia. Enterprises represented in RSPP produce more than 60% of GDP of Russia in aggregate.

RSPP sees its mission in consolidation of efforts of Russian industrialists and entrepreneurs aiming at improving business environment, raising status of the Russian business within the country and worldwide, supporting balance of interest of society, government and business.

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.

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