28th Apr 2008 07:00
OJSC Magnit28 April 2008 Press-releaseKrasnodarApril 28, 2008 OJSC "Magnit" announces the opening of the seventh hypermarket KRASNODAR, April 28, 2008: OJSC Magnit (the "Company"; MGNT) is pleased toannounce the opening of the seventh hypermarket. Dear Ladies and Gentlemen! We are glad to inform you that today is the technical opening of the seventh"Magnit" hypermarket located at 18 Kurchatova prospect, Volgodonsk, RostovRegion. Total space of the store is 10,200 sq.m. and its selling space is 6,862sq.m. (2,662 sq.m. is for lease). Assortment of the "Magnit" hypermarketconsists of about 13,000 SKUs, out of which 70% are food items. There are 20cash desks installed in the sales area. For further information, please contact: Oleg Goncharov Director, Investor Relations e-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40 -35 Direct line for investors only: +7 (861) 277-45-62Dina Chistyak Manager, Investor Relations e-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 Company description: Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is a holding company for a group of entities that operate in the retailtrade under the "Magnit" name. The chain of "Magnit" stores is one of theleading operators in the Russian food retail market. As of December 31, 2007 thechain consisted of 2,194 convenience stores and 3 hypermarkets in more than 700locations in the Russian Federation. Approximately two-thirds of the Company's stores are located in cities with apopulation of less than 500 thousand. Most of its stores are located within theSouthern, Central and Volga regions. The Company also operates stores in theNorth-Western and Urals regions. As of December 31, 2007 the Company operates an in-house logistics systemconsisting of 8 modern distribution centers, employing automated stockreplenishment systems and a fleet of over 802 vehicles. In accordance with the reviewed IFRS consolidated financial statements, for theyear of 2007, the Company posted consolidated revenues of approximately US$3,677 million and a consolidated EBITDA of around US$ 219 million.-------------------------------------------------------------------------------- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MGNT.L