OJSC MAGNIT - 164th Hypermarket Opening

Press-release

Krasnodar

March 21, 2014

OJSC "Magnit" Announces the Opening of the 164th Hypermarket

Krasnodar, March 21, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the
164th hypermarket of a medium format.

Please be informed that today the Company has opened its 164th hypermarket of a
medium format located at 16/1 Nefteyuganskoye shosse ("Zeleniy bereg" shopping
center), Khanty-Mansiysk autonomous district, Urals federal district.
Assortment of the hypermarket consists of more than 14,500 SKUs, out of which
about 67% are food items. There are 21 cash desks installed in the sales area.
The outlet is leased by the Company. The hypermarket is open 7 days a week from
9 am to 11 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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