Press-release Krasnodar October 31 2014

PJSC “Magnit” Announces the Opening of a New Hypermarket and “Magnit Family” Stores

Krasnodar, October 31, 2014: PJSC “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 179th hypermarket and 71 st and 72 nd “Magnit Family” stores.

The 179th hypermarket (medium format) is located at Dovatortsev street, Stavropol, North-Caucasian federal region. Assortment of the hypermarket consists of more than 17,400 SKUs, out of which about 58% are food items. There are 23 cash desks installed in the sales area. The outlet is owned by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.

The 71st “Magnit Family” store is located at 175, Gafuri street, Beloretsk, Republic of , federal region. Assortment of the store consists of about 6,000 SKUs, out of which about 89% are food items. There are 11 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 72nd “Magnit Family” store is located at 26, Mira street (“Orange” shopping center), , , Volga federal region. Assortment of the store consists of more than 8,500 SKUs, out of which about 86% 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 September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) 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 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.