OJSC MAGNIT: Execution of Related Party Transaction

June 24, 2014 
OJSC "Magnit" Announces the Execution of the Related Party Transaction 
Krasnodar, June 24, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company", the "Issuer"; MICEX and LSE: MGNT), announces the execution of the
transaction on June 23, 2014. 
The essentials of the transaction are as follows: 
Type of transaction: Related party transaction                                  
Subject of           Provision by the Issuer of the guarantee underthe         
transaction:         revolvingcredit line agreement №KRD/RK/003/14as of 

                     2014, executed between JSC "Tander" and OJSC JSCB "ROSBANK

Content of the       In accordance with the guarantee agreement 
transaction:         as of June23, 2014the Guarantor shall be gratuitously      

                     liable to the Creditorto the extent provided by this      
                     Agreement for the performance of obligationsbythe Borrower

                 under the Revolving credit line agreement 

                     executed between the Borrower and the Creditor in         
                     Krasnodar as of June 23, 2014,on the following terms:     
                       * The creditamount : 3,400, 000,000 (threebillion four  
                         hundred million)rubles                                
                       * The granted term of the credit is until July22, 2015  
                       * The Borrower shall pay the interest on credit to the C
                         reditor at the rate determined by the Revolving credit
                         line agreement but not exceeding 12% per annum        
                       * The liability of the Guarantorfor the performance of  
                         all obligationsby the Borrowerunder the Credit a      
                         greement shall belimited to the amount of 3,40        
                         0,000,000.00 (threebillion four hundred million)      
                       * The guaranteeterminates upon the proper performance of
                         obligations by the Borrower under the Credit Agreement
                         or the unilateral change of the Credit Agreement      
                         essentials increasing the liability of theGuarantor   

Deadline for the     July 22, 2015 (credit maturity)                           
fulfillment of the                                                             
Parties and          The creditor - OJSC JSCB "ROSBANK"                        
beneficiaries under                                                            
transaction:         The guarantor - open joint-stock company "Magnit"          

                     The borrower (beneficiary) -joint-stock company "Tander"  

The amount of the    3,400, 000,000rubles which amounts to 4.16% of the balance
transaction in the   sheet assets of the issueras of December 31, 2013         
monetary value and                                                             
as a % of the asset                                                            
value of the issuer:                                                            
Asset value of the   88,717, 075thousand rubles(as of December 31, 2013)       
issuer as of the                                                               
closing date of the                                                            
accounting period                                                              
preceding the                                                                  
execution of the                                                               
Date of the          June23, 2014                                              
Information on the   The transaction was approved by the General shareholders  
approval of the      meetingof May 29, 2014(Minutes of the general shareholders
transaction:         meeting of OJSC "Magnit" w/o No. of May 29, 2014)          
For further information, please contact: 
Timothy Post                            Director, Investor Relations            

                                        Email: post@magnit.ru                  
                                        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: Chistyak@magnit.ru              
                                        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 March 31, 2014,
Magnit operated 23 distribution centers and over 8,200 stores (7,341
convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2013,
Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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.


-0- Jun/24/2014 06:00 GMT

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