OJSC MAGNIT - 163rd Hypermarket Opening

Press-release

Krasnodar

March 3, 2014

OJSC "Magnit" Announces the Opening of the 163rd Hypermarket

Krasnodar, March 3, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the
163rd hypermarket of a small format.

Please be informed that on March 1, 2014 the Company has opened its 163rd
hypermarket of a small format located at 71, Platovsky prospect, Novocherkassk,
Rostov region, Southern federal district. Assortment of the hypermarket
consists of about 7,500 SKUs, out of which about 82% are food items. There are
15 cash desks installed in the sales area. The outlet is owned by the Company.
The hypermarket is open 7 days a week from 8 am to 10 pm.

For further information, please contact:

Timothy Post                            Director, Investor Relations
                                        Email: [e-mail]
                                        Office: [phone] x17600
                                        Mobile: [phone]
                                        Direct Line: [phone]

Dina Svishcheva                         Deputy Director, Investor Relations
                                        Email: [e-mail]
                                        Office: [phone] x15101
                                        Mobile: [phone]
                                        Direct Line: [phone]

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 the unaudited IFRS management accounts 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 now
Europe's 2nd largest retailer.

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