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OJSC MAGNIT: April/4M 2013 Results


Press-release

Krasnodar

May 8, 2013

OJSC "Magnit" Announces 33% Retail Sales Growth in Rubles for April 2013

Krasnodar, May 8, 2013: OJSC "Magnit", Russia's largest retailer (the "Company"; MICEX and LSE: MGNT) announces 33% retail sales growth in rubles for April 2013.

During April 2013 the Company opened (net) 92 stores. The total store base reached 7,167 stores (6,305 convenience stores, 134 hypermarkets, 22 "Magnit Family" stores and 706cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 4M 2013 increased by 31.02% in ruble terms (compared to 4M 2012) and stood at 176,991.00 million rubles .

April 2013 Key Operating and Financial Highlights:

April April Growth 4М 2013 4М 2012 Growth

2013 2012 Rate Rate

Number of opened 92 64 n/a 283 221 n/a stores, NET

convenience stores 96 38 n/a 259 136 n/a


                                                                               
         hypermarkets         2         2     n/a          8          3     n/a
                                                                               
        magnit family         1         0     n/a          2          2     n/a
                                                                               
     cosmetics stores       (7)        24     n/a         14         80     n/a
                                                                               
                                                                               

Total number of 7,167 5,530 n/a 7,167 5,530 n/a stores

convenience stores 6,305 5,142 n/a 6,305 5,142 n/a


                                                                               
         hypermarkets       134        93     n/a        134         93     n/a
                                                                               
        magnit family        22         5     n/a         22          5     n/a
                                                                               
     cosmetics stores       706       290     n/a        706        290     n/a
                                                                               
                                                                               

Selling space, 2,663.55 2,048.01 30.06% 2,663.55 2,048.01 30.06% thousand sq. m.

convenience stores 2,057.47 1,687.16 21.95% 2,057.47 1,687.16 21.95%


                                                                               
         hypermarkets    414.65    286.28  44.84%     414.65     286.28  44.84%
                                                                               
        magnit family     26.94      6.20     n/a      26.94       6.20     n/a
                                                                               
     cosmetics stores    164.49     68.36     n/a     164.49      68.36     n/a
                                                                               
                                                                               

Net retail sales, 45,773.13 34,491.75 32.71% 176,991.00 135,085.18 31.02% million RUR

convenience stores 36,088.32 28,440.58 26.89% 140,233.55 112,099.37 25.10%


                                                                               
         hypermarkets  8,214.83  5,584.88  47.09%  30,885.73  21,265.15  45.24%
                                                                               
        magnit family    703.16    153.69     n/a   2,638.95     455.26     n/a
                                                                               
     cosmetics stores    766.81    312.60     n/a   3,232.78   1,265.40     n/a
                                                                               
                                                                               

Net retail sales, 1,461.00 1,170.22 24.85% 5,775.88 4,492.60 28.56% million US$

convenience stores 1,151.88 964.92 19.38% 4,576.35 3,728.15 22.75%


                                                                               
         hypermarkets    262.20    189.48  38.38%   1,007.92     707.23  42.52%
                                                                               
        magnit family     22.44      5.21     n/a      86.12      15.14     n/a
                                                                               
     cosmetics stores     24.48     10.61     n/a     105.50      42.08     n/a
                                                                               


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 Russian city of Krasnodar, Magnit (LSE and MICEX:
MGNT, S&P: "BB") 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 the
largest food retail network in Russia. As of March 31, 2013 the chain consisted
of 6,209 convenience stores, 132 hypermarkets, 21 "Magnit Family" stores and
713 cosmetics stores (drogerie) in 1,647 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 March 31, 2013 Magnit operated an in-house logistics system consisting of
18 distribution centers, employing automated stock replenishment systems and a
fleet of 4,448 vehicles.

In accordance with the audited IFRS consolidated financial statements for 2012,
Magnit recorded consolidated revenues of approximately $14.43 billion USD and a
consolidated EBITDA of $1.52 billion USD.

1 According to management accounts

2 As has been noted previously, the month of February 2012 occurred during a
"leap year" and thus, there were 29 days (i.e. an extra day). February 2013, on
the other hand, occurred during a "normal year" in which there were only 28
days.

This very same "leap year" effect/adjustment should also be calculated when one
makes the comparison between 4M 2012 numbers vs. 4M 2013 numbers.

Therefore, in order to fairly compare the 4M 2012 results to the 4M 2011
results an amount of 1.45% should be subtracted for the 4M 2012, which would
then equal 30.95%. To compare the 4M 2013 results with the 4M 2012 results
correctly, an amount of 1.46% should be added, which would then equal 32.48%.

3 Based on the average exchange rate for April 2013 of 31.3300 RUB per 1 USD,
April 2012 - 29.4745 RUB per 1 USD, 4M 2013 - 30.6431 RUB per 1 USD, 4M 2012 -
30.0684 RUB per 1 USD

END

-0- May/08/2013 06:00 GMT

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