OJSC MAGNIT: 128th Hypermarket Opening

Press-release

Krasnodar

February 28, 2013

OJSC "Magnit" Announcesthe Opening of the 128th Hypermarket

Krasnodar, February 28, 2013: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the opening of the 128th hypermarket of a small format.

Please be informed that today the Company has opened its 128th hypermarket of a small format located at 20a Hanty-Mansiyskaya street, Nizhnevartovsk, Khanty-Mansiysk autonomous district - Yugra, Urals federal district. Assortment of the hypermarket consists of more than 10,500 SKUs, out of which about 75% are food items. There are 19 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:

Timothy Post Director, Investor Relations

                                                                               
                                        e-mail: Post@gw.tander.ru              
                                                                               
                                        Tel. in Krasnodar +7 (861) 277-45-54,  
                                        210-98-10 ext. 7600                    
                                                                               
                                        Mob.: +7 (961) 511-76-78               
                                                                               
                                        Direct line for investors only: +7     
                                        (861) 277-45-62                        

Dina Svishcheva Deputy Director, 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 December 31, 2012 the chain
consisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family"
stores and 692 cosmetics stores (drogerie) in 1,605 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 December 31, 2012 Magnit operated an in-house logistics system consisting
of 18 distribution centers, employing automated stock replenishment systems and
a fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnit
recorded consolidated revenues of approximately $14,430 million USD and a
consolidated EBITDA of $1,524 million USD.



END

-0- Feb/28/2013 07:00 GMT