Press-release Krasnodar September 9, 2014

OJSC “Magnit” Announces the Opening of a New Hypermarket and “Magnit Family” stores

Krasnodar, September 9, 2014: OJSC “Magnit”, ’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of a new hypermarket and “Magnit Family” stores.

Please be informed that today the Company has opened its 173 rd hypermarket and 63 rd and 64 th “Magnit Family” stores.

The 173 rd hypermarket (small format) is located at 146, Yaroslavskoe shosse (“Hanoi-” shopping center), Moscow, Central federal region. Assortment of the hypermarket consists of about 11,900 SKUs, out of which about 79% are food items. There are 19 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.

The 63 rd “Magnit Family” store is located at 75, Narimanova prospect (“DA” shopping center), Ulyanovsk, Volga federal region. Assortment of the store consists of about 9,700 SKUs, out of which about 85% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 10 pm.

The 64 th “Magnit Family” store is located at 11, Sovetskaya street (“Krotbers” shopping center), Kasimov, oblast, Central federal region. Assortment of the store consists of about 5,800 SKUs, out of which about 90% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 10 pm.

For further information, please contact:

Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562

Dina Svishcheva Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2014, Magnit operated 24 distribution centers and over 8,600 stores (7,614 convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.