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OJSC MAGNIT: 115th Hypermarket Opening


Press-release

Krasnodar

December 12, 2012

OJSC "Magnit" announces the opening of the 115th hypermarket

Krasnodar, December 12, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the opening of the 115th hypermarket of a small format.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 115th hypermarket of a small format located at 162 Sovetskaya street ("Stroydvor" shopping center), Magnitogorsk, Chelyabinsk region, Urals federal district. Assortment of the hypermarket consists of more than 8,200 SKUs, out of which about 77% are food items. There are 15 cash desks installed in the sales area. The hypermarket is open 7 days a week from 9 am to 11 pm.

For further information, please contact:

Oleg Goncharov Director, Investor Relations

e-mail: Goncharov@gw.tander.ru

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) 277-45-62

Dina Svishcheva Manager, Investor Relations

e-mail: Chistyak@gw.tander.ru

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:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX: MGNT) 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 September 30, 2012 the chain consisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family" stores and 480 cosmetics stores (drogerie) in 1,504 cities and towns throughout the Russian Federation.

Approximately two-thirds of the Magnit'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 September 30, 2012 Magnit operated an in-house logistics system consisting of 17 distribution centers, employing automated stock replenishment systems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Magnit recorded consolidated revenues of approximately $6.7 billion USD and a consolidated EBITDA of $671 million USD.

END

-0- Dec/12/2012 07:00 GMT

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