Press-release Krasnodar January 14, 2014

OJSC "Magnit" Announces Change of Share in the Charter Capital

Krasnodar, January 14, 2014: OJSC "Magnit", Russia's largest retailer (the "Company"; MICEX and LSE: MGNT), announces change of share in the charter capital of OJSC "Magnit" (ordinary shares stake) owned by Marina Ivanova, the member of the OJSC "Magnit" Management Board, from 0.00835% to 0.0084%.

Name and position of the person: Marina Ivanova, the member of the OJSC "Magnit" Management Board
Company: Open joint-stock company "Magnit", 15/5, Solnechnaya street, Krasnodar, Russia
Share in charter capital before change: 0.00835% Ordinary shares stake before change: 0.00835% Share in charter capital after change: 0.0084% Ordinary shares stake after change: 0.0084%
Date of change of share in the charter capital: January 13, 2014
Date of the fact being reported: January 14, 2014

For further information, please contact:

Timothy Post Director, Investor Relations Email: post@gw.tander.ruOffice: +7-861-277-4554 x7600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@gw.tander.ruOffice: +7-861-277-45-54 x5101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

Company description:

Magnit is Russia's largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with its reviewed IFRS consolidated financial statements, Magnit had 1H 2013 revenues of $8.7 billion USD and an EBITDA of $890 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 now Europe's 2nd largest food retailer.

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